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Financial Services
401 Golden Shore, 5th Floor
Long Beach, CA 90802-4210

www.calstate.edu

Date:
August 26, 2013
Code: FS 2013-01
To:

Vice Presidents for Administration/Finance

 Revised
From:
George V. Ashkar
Assistant Vice Chancellor, Controller
Financial Services
Subject:
2013/14 Centrally Paid Costs and Debt Service

The attached indirect schedules have been revised for the Chancellor’s Office overhead cost. In addition, the debt service schedules have been adjusted due to the 2013A Bond Sale which refinanced Systemwide Revenue Bonds, series 2005A and 2005C.

Each year the Chancellor’s Office allocates direct and indirect costs to campuses and Systemwide Revenue Bond (SRB) debt service. The indirect costs are made up of the Department of Finance State Pro Rata charges and Chancellor’s Office (CO) overhead expenses. The direct costs are made up of expenses related to the maintenance of the individual bonds series. The purpose of this memorandum is to provide a summary of the total costs that will be charged to your campus during the 2013/14 fiscal year. 

Campuses will be charged $19,178,000 (comprised of approximately $18,533,000 for indirect costs and $645,000 for direct costs), which will be assessed in four quarterly installments of $4,794,500 on August 1st, October 1st, January 2nd, and April 1st. Each campus’ portion of the quarterly assessment can be found on the attached summary as well as attachments by program.

In addition, campuses will be assessed a separate transaction in the amount of $249,722,000 for SRB debt service only. This transaction will occur on October 1, 2013 and April 1, 2014. Please refer to the attached summary and detail by program for your campus’ portion of debt service.

Please ensure that the appropriate fiscal personnel at your campus have this information as they will need it to develop and account for next year’s budget.

If you have any questions, please contact the referenced contact on attachment 3 through 22.

Thank you for your assistance in this process.

GVA:KC:ea            

Attachments 1 -22

Distribution of attachments:

Vice Presidents for Student Affairs (all attachments)
AVPs for Business and Finance (all attachments)
Benjamin F. Quillian (all attachments)
Business Managers (all attachments)
Budget Officers (all attachments)
Accounting Officers (all attachments)
Housing Officers (attachments 1, 2, 3, 9, 10)
Parking Officers (attachments 1, 2, 4, 11, 12)
Student Union Directors (attachments 1, 2, 5, 13, 14)
Stanislaus Student Rec Center (attachments 1, 2, 15, 16)
Health Center Administrators (attachments 1, 2, 6, 17, 18)
Continuing Education Administrators (attachments 1, 2, 8, 19, 20)
Auxiliary Organization Administrators (attachments 1, 2, 7, 21, 22)