Date:

July 2, 2008

Code:AD NOAT 08-070

To:

Financial Managers
Accounting Officers
Budget Officers

From:

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

Subject:

CSU, Channel Islands Site Authority – June 30, 2008 Lease Payment Accrual

Transfer Request:N/A
Legal Posting FY2007-08
GAAP Posting FY2007-08
(When GAAP year = Legal year, no GAAP entry is needed)

Per the terms of the Ground and Facility Lease dated as of April 1, 2005 by and between The Board of Trustees of the California State University (CSU) and the California State University, Channel Islands Site Authority (Site Authority), the Site Authority has accrued interest payable for the lease rental payment in the amount of $412,843.49 to the Channel Islands campus as of June 30, 2008. We have recorded this transaction in CSU fund 545

Note: Reverse in next fiscal year.

The Campus journal entry to record this transaction for:

SCO Fund 0948 in the amount of $412,843.49 as follows:

The Chancellor’s Office will be recrding the total ammount of $412,843.49 as follows:

If you have any questions, please contact Cindy Gong at (562) 951-4542 or via e-mail at cgong@calstate.edu

GVA:CG:td
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