--INACTIVE HISTORICAL POLICY--
Section: GENERAL ACCOUNTING
|Section 3000 Policies|
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: June 30, 2011
(see revision history)
It is the policy of the California State University (CSU) to record all its fixed asset activity in State Controller Office (SCO) fund 0997, CSU fund 501 – General Fixed Assets Memo Fund, regardless of the funding type (Governmental, Proprietary, or Fiduciary).
Legal basis fixed asset accounting entries are recorded in and reported from SCO fund 0997 and CSU fund 501. Formal adoption of this policy will continue this practice, minimizing any disruption to the campus operations and avoid expenses related to changing any existing software modifications that support this practice.
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: February 7, 2011
APPLICABILITY AND AREAS OF RESPONSIBILITY
RESOURCES AND REFERENCE MATERIALS
Sound Business Practices:
- Refer to the Year-End Reporting Instructions:
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
Systemwide Financial Reporting, FAST-ED