Section: GENERAL ACCOUNTING

Policy Number: 3151.01

Policy Title: Capital (Fixed) Assets Reporting to the State Controller's Office

Policy Effective Date: June 30, 2011

Last Revision Date: October 6, 2011
(see revision history)

POLICY OBJECTIVE

It is the policy of the California State University (CSU) to record all of its legal based fixed asset activity into a single fund regardless of the funding type (Governmental, Proprietary, or Fiduciary). Campuses must prepare written procedures that implement this policy.

POLICY STATEMENT

All campus legal basis fixed asset accounting entries will be recorded in and reported from State Controller Office (SCO) fund 0997, CSU fund 501 – General Fixed Assets Memo Fund. Campuses are not required to record by separate funding type.

Any external reporting that requires an alternative display of the capital assets information will be accommodated by the Chancellor’s Office Systemwide Reporting group. Supporting schedules will be retained on file per the CSU Records Retention policy to support reconciliation back to the campus’ book of records.

Benjamin F. Quillian
Executive Vice-Chancellor/Chief Financial Officer

Approved: October 31, 2011

APPLICABILITY AND AREAS OF RESPONSIBILITY

REVISION HISTORY

June 30, 2011

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

CSU Legal Manual - http://www.calstate.edu/SFSR/Workshops/index.shtml

Related Principles:

Sound Business Practices:

Refer to the Year-End Reporting Instructions:

http://www.calstate.edu/SFSR/y-e-r_instructions/index.shtml

Laws, State Codes, Regulations and Mandates:

COGNIZANT OFFICE(S)

CO Manager:

Ms. Roberta McNiel
Internal Control & Compliance Manager, Financial Systems
CSU Office of the Chancellor
rmcniel@calstate.edu

Subject Expert:

Systemwide Financial Reporting, FAST-ED

Affinity Group: