--INACTIVE HISTORICAL POLICY--

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: June 30, 2011
(see revision history)

POLICY OBJECTIVE

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).

POLICY STATEMENT

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

REVISION HISTORY

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

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: