THE CALIFORNIA STATE UNIVERSITY
Office of the Chancellor
401 Golden Shore, 5th Floor
Long Beach, California 90802-4210
(562) 951-4610

 

Date:

October 27, 2006

Code: AD NOAT 06-165

To:

Financial Managers
Accounting Officers
Budget Officers

 

From:

Mr. George V. Ashkar
Senior Director, Controller
Financial Services, Accounting

 

Subject:

CPDC Construction Claims Program - Memorandum of Coverage

 

Transfer Request: 069116
Legal Posting FY2006-07
GAAP Posting FY2006-07
(When GAAP year = Legal year, no GAAP entry is needed)

 

Per a request from CPDC a Plan of Financial Adjustment (PFA) was prepared to recover Construction Claims Program Premiums from three construction projects. The Chancellor's Office and each campus need to record their respective journal entries as described below:

The campuses journal entry to record PFA069116 for SCO Fund 6041002 are as follows:

Debit xxxxxx Capital - Construction Other (Object Code 607033)
Credit 305022 Fund Balance - Clearing Account

The Chancellor's Office will be recording the following journal entry for SCO Fund 0948000-6620-1971-510-D:

Debit 101004 Cash in State Treasury
Credit 580712 Construction Claims Program Premium
Campus SCO Fund PGM/ELE/COMP CH/REF/YEAR AMOUNT
Maritime Academy      6041002      06-51-009      CH. 208/2004/302      $ 67,600.00     
San Marcos 6041002 06-68-120 CH. 208/2004/302 $ 49,654.00
Long Beach 6041002 06-71-111 CH. 038/2005/302 $278,500.00
Total       $395,754.00

If you have any questions, please contact William Pittman at (562) 951-4612 or via e-mail at bpittman@calstate.edu.

GVA: WVP: lm AD NOAT 06-165