The movement toward decentralizing the student union programs will bring several changes for campuses that are eligible (refer

The movement toward decentralizing the student union programs will bring several changes for those campuses that are eligible. The table below will help you identify some of major changes.

Description	Centralized	Decentralized
Dormitory Revenue Fund (DRF - Fund 580)	Ø Campuses remit their “student body center fee” to the revenue fund.	Ø Campuses remit their “student body center fee” to the revenue fund. Ø Systemwide Financial Operations (SFO) has contacted the State Controller’s Office (SCO) to allow campuses to access the available funds.
Funding student union operations (Return of Surplus)	Ø Campuses are required to submit operating budgets to the Finance and Treasury department for review and approval. Ø Finance and Treasury notifies SFO to issue a check for funding student union operations.	Ø Each campus CFO is responsible for review and oversight of an annual budget package submitted by the student union director. Ø The campus CFO will issue a check to the student union for their operations.
SMIF interest earnings	Ø All funds are invested in a Surplus Money Investment Fund (SMIF) at the State Controller’s Office. Ø SMIF earnings are distributed to campuses quarterly via a Transfer Request. Ø Campuses are notified with a Systemwide Financial Operations’ Adnoat.	Ø All funds are invested in a Surplus Money Investment Fund (SMIF) at the State Controller’s Office. Ø SMIF earnings are distributed to campuses quarterly via a Transfer Request. Ø SCO will make the SMIF earnings available to the campuses by automatically cross-posting the transfers to the campus agency’s expenditure “D” account. Ø Campuses are notified with a Systemwide Financial Operations’ Adnoat.
Cost recovery for centrally paid expenses (e.g. debt payments, state pro rata, Chancellor’s Office overhead).	Ø Systemwide incurs expenses on behalf of the student union. Ø An allocation order issued to cover the Plan of Financial Adjustment (PFA) that is submitted semi-annually to the SCO for distributing the expenses to each campus. Ø Transfers to funds 575 & 576 are included as part of the PFA.	Ø Finance and Treasury will issue a memorandum annually for the centrally paid expenses. Ø The campus CFO is responsible for ensuring the funds are available Ø Quarterly PFA’s are submitted to the SCO for recovering costs associated with the student union bond program. An allocation order is no longer needed. Ø Transfers to funds 575 & 576 are not included as part of the PFA. Transfers will be handled individually as they arise.
Transfers to Dormitory Building Maintenance and Equipment Reserve Fund (DBMER- Fund 575) also referred to as the Repair and Replacement Fund	Ø Campuses request a transfer and allocation order from the Finance and Treasury department. Ø Finance and Treasury will submit a formal request to Systemwide Financial Operations. Ø SFO will perform the transfer and pass it to the campus through the PFA process described above under “costs recovery for centrally paid expenses.” Ø An allocation order is needed because transfers are made through the Chancellor’s Office agency with no “automatic cross posting” to the campus agency’s expenditure account.	Ø Campuses will perform the transfer directly through their agency via a transfer request to the State Controller’s Office. Ø No allocation order is needed since transfers are now made at the campus agency level and “automatic cross posting” has been established by the SCO.-
Transfers to Dormitory Construction Fund (DCF- Fund 576)	Ø Campuses request a transfer and allocation order from the Finance and Treasury department. Ø Finance and Treasury will submit a formal request to Systemwide Financial Operations. Ø SFO will perform the transfer and pass it to the campus through the PFA process described above under “costs recovery for centrally paid expenses.” Ø Allocation order needed.	Ø No change to the process described under the “centralized” operation.

Description

Centralized

Decentralized

Dormitory Revenue Fund

(DRF - Fund 580)

Ø Campuses remit their “student body center fee” to the revenue fund.

Ø Systemwide Financial Operations (SFO) has contacted the State Controller’s Office (SCO) to allow campuses to access the available funds.

Funding student union operations (Return of Surplus)

Ø Campuses are required to submit operating budgets to the Finance and Treasury department for review and approval.

Ø Finance and Treasury notifies SFO to issue a check for funding student union operations.

Ø Each campus CFO is responsible for review and oversight of an annual budget package submitted by the student union director.

Ø The campus CFO will issue a check to the student union for their operations.

SMIF interest earnings

Ø All funds are invested in a Surplus Money Investment Fund (SMIF) at the State Controller’s Office.

Ø SMIF earnings are distributed to campuses quarterly via a Transfer Request.

Ø Campuses are notified with a Systemwide Financial Operations’ Adnoat.

Ø All funds are invested in a Surplus Money Investment Fund (SMIF) at the State Controller’s Office.

Ø SMIF earnings are distributed to campuses quarterly via a Transfer Request.

Ø SCO will make the SMIF earnings available to the campuses by automatically cross-posting the transfers to the campus agency’s expenditure “D” account.

Ø Campuses are notified with a Systemwide Financial Operations’ Adnoat.

Cost recovery for centrally paid expenses (e.g. debt payments, state pro rata, Chancellor’s Office overhead).

Ø Systemwide incurs expenses on behalf of the student union.

Ø An allocation order issued to cover the Plan of Financial Adjustment (PFA) that is submitted semi-annually to the SCO for distributing the expenses to each campus.

Ø Transfers to funds 575 & 576 are included as part of the PFA.

Ø Finance and Treasury will issue a memorandum annually for the centrally paid expenses.

Ø The campus CFO is responsible for ensuring the funds are available

Ø Quarterly PFA’s are submitted to the SCO for recovering costs associated with the student union bond program. An allocation order is no longer needed.

Ø Transfers to funds 575 & 576 are not included as part of the PFA. Transfers will be handled individually as they arise.

Transfers to Dormitory Building Maintenance and Equipment Reserve Fund (DBMER- Fund 575) also referred to as the Repair and Replacement Fund

Ø Campuses request a transfer and allocation order from the Finance and Treasury department.

Ø Finance and Treasury will submit a formal request to Systemwide Financial Operations.

Ø SFO will perform the transfer and pass it to the campus through the PFA process described above under “costs recovery for centrally paid expenses.”

Ø An allocation order is needed because transfers are made through the Chancellor’s Office agency with no “automatic cross posting” to the campus agency’s expenditure account.

Ø Campuses will perform the transfer directly through their agency via a transfer request to the State Controller’s Office.

Ø No allocation order is needed since transfers are now made at the campus agency level and “automatic cross posting” has been established by the SCO.-

Transfers to Dormitory Construction Fund (DCF- Fund 576)

Ø Campuses request a transfer and allocation order from the Finance and Treasury department.

Ø Finance and Treasury will submit a formal request to Systemwide Financial Operations.

Ø SFO will perform the transfer and pass it to the campus through the PFA process described above under “costs recovery for centrally paid expenses.”

Ø Allocation order needed.

Ø No change to the process described under the “centralized” operation.