DISCRETELY PRESENTED COMPONENT UNITS
YEAR-END REPORTING TIMELINE
Su Chen, Financial Reporting Analyst, SFSR
Chancellor’s Office
May 19, 2016
MAY 2016
YEAR-END GAAP TRAINING
Learning Objectives
At the end of the session, participants will
be able to:
• Know the reporting deliverables and deadlines
for discretely presented component units in
relation to the CSU GAAP reporting purposes.
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MAY 2016
YEAR-END GAAP TRAINING
YE Reporting Timeline – Component Units
August
• 8/1/2016 (Monday)
• L-033 Submit FIRMS
Legal Basis Data.
>> Does not contain GAAP
adjustments
>> Amounts are reported at NACUBO
program code level
FIRMS Legal Basis Data
Submission Template:
>> Campus FIRMS coordinators
transfer the FIRMS data to the SFTP
server operated by the CO.
http://www.calstate.edu/sfsr/gaap/20152016/GAAPManual/Aux_Org_Legal_Basis
_Template_2016.xls
FIRMS Data Submission Guide
http://www.calstate.edu/es/intranet/applications/fob/firms
/documents/new_firms_submissions.pdf
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MAY 2016
YEAR-END GAAP TRAINING
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YE Reporting Timeline – Component Units (cont.)
September
• 9/19/2016 (Monday)
• G-097 Submit audited
financial statements and
GAAP Financial Reporting
checklist into PBC
SharePoint (PBC #18).
PBC SharePoint:
https://csyou.calstate.edu/groups/fsaudit/P
assdown%20Schedules/Forms/AllItems.aspx
Note:
"Final Draft" pending approval
or presentation to its governing
body (if required) is allowed to
the extent that there are no
expected changes to the
financial statements.
MAY 2016
YEAR-END GAAP TRAINING
5
YE Reporting Timeline – Component Units (cont.)
September
• 9/26/2016 (Monday)
• G-132 Submit FIRMS IPEDS
Data by noon.
FIRMS IPEDS Data Submission
Template:
http://www.calstate.edu/sfsr/gaap/20152016/GAAPManual/Aux_Org_IPEDS_2016.
xls
>> Should contain GAAP
adjustments
>> Reported for each applicable
GAAP fund classification
>> Amounts are reported for line
items needed for IPEDS
>> Campus FIRMS coordinators
transfer the FIRMS IPEDS data to
the SFTP server operated by the
CO.
FIRMS Data Submission Guide
http://www.calstate.edu/es/intranet/applications/f
ob/firms/documents/new_firms_submissions.pdf
MAY 2016
YEAR-END GAAP TRAINING
6
YE Reporting Timeline – Component Units (cont.)
9/23/2016 (Friday)
• Reporting Group - Campus
• G-100 Submission of TM1 Reporting Package (FINAL version)
9/26/2016 (Monday)
• Reporting Group – Component Unit
• G-132 Submit FIRMS IPEDS Data by noon
10/14/2016 (Friday)
• Reporting Group - Campus
• G-137 Issue CSU Systemwide financial statements
MAY 2016
YEAR-END GAAP TRAINING
7
YE Reporting Timeline – Component Units (cont.)
October
10/7/2016 (Friday)
• G-108 Submit one hard copy
of the component units
audited financial statements.
Mail financial statement to:
Sedong John
Director, Systemwide Financial Standards &
Reporting
CSU Chancellor's Office
401 Golden Shore, 5th Floor
Long Beach, CA 90802
• G-111 Campus to submit the original
signed letter from its campus President
to CSU's Executive Vice Chancellor and
Chief Finance Officer signifying the
completion of the review of component
units' audited financial statements.
Mail original letter to:
Steven Relyea
Executive Vice Chancellor and Chief Financial Officer
Office of the Chancellor
The California State University
401 Golden Shore, 5th Floor
Long Beach, CA 90802-4210
Email PDF copy to:
SFSR Team SFSR_GAAP@calstate.edu
MAY 2016
YEAR-END GAAP TRAINING
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YE Reporting Timeline – Component Units (cont.)
October (continued)
10/28/2016 (Friday)
• G-140 Submit the electronic
copies following for compliance
monitoring purposes:
• a. Single Audit A-133 reports (if
required)
• b. Auditors' Communications to
Management indicating whether
or not there are any significant
deficiency or material weakness
on the financial statement audit.
Note:
For tracking purposes,
if there are NO written
communications from
auditors because there are
no significant deficiency or
material weakness identified,
please indicate this in your
email to SFSR.
MAY 2016
YEAR-END GAAP TRAINING
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YE Reporting Timeline – Component Units (cont.)
November
December
11/18/2016 (Friday)
12/2/2016 (Friday)
• G-141 Provide the Corrective
Action Plan template for
component units with
significant deficiency or
material weakness.
Information in the template
must be completed by
Component Units or Campus.
• G-146 Submit the completed
Corrective Action Plan
template and evidence of
completion of action plan.
MAY 2016
YEAR-END GAAP TRAINING
YE Reporting Timeline – Location
The Master Audit and Reporting Timeline is located at the
Systemwide Financial Standards & Reporting (SFSR) website:
(http://www.calstate.edu/SFSR/Workshops/index.shtml).
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