© 2008 California State University, Fullerton
Introduction To Trust Fund/Special Projects Management
Laleh Graylee
Cecilia Patz
Financial Services
Division of Administration & Finance
Agenda
1. CSU Funds Categories & Types
2. Characteristics of Trust Funds/Projects
3. Process of creating new Special Trust Fund Projects.
4. Required roles and responsibilities related to the on-going account management of Trust.
CSU Fund Categories & Types
1. Enterprise Funds
2. Internal Service Funds
3. Investment Trust Funds
4. Private Purpose Trust Funds
5. Agency Funds
AuthoritySection 89721 of the Education Code & Executive Order 1000
Fund Types
Characteristics of Trust Funds
1. Sources of Trust Fund/Special Projects• Federal Trust Funds• Self Supporting Operations Trust• Special Projects/Other Trust
2. Unique CMS Fund Code
3. Beginning & End Dates
4. Interest Allocation
5. Management Fee
Sources of Funds/Deposits
Type ExampleFederal Trust Fund Scholarships and loan programs
Advance Payments under Federal Contracts or Grants
Self Supporting Funds/Specific Programs Fees and other revenues from instructionally
related activities (IRA).
Fees for Parking, Health Facilities or Health Services, and for Extension Programs, Special Sessions, and other self-supporting Instructional Programs.
Lottery Fund
Special Projects/Other Trust Gifts, bequests, donations, etc.
Fees and charges for optional use of Services, Materials or Facilities Money received for research, workshops, conferences, institutes, and special projects
Creating New Trust Projects
Required Forms
Trust Fund Agreement/Trust Fund Annual Budget
Management Approvals Division Head/Project Coordinator AVP of Finance or University Controller
Department’s Financial Management Responsibility
Ongoing Account ManagementFor Trust/Special Projects
• Trust Agreement Renewals
– Annual Deadline – May 1st
• Reporting & Inquiry
– Budget Allocation
– Expenditure Tracking & Reconciliations
• Year End Closing and Carry-Forward Fund Balances
• Closing Existing CMS Trust Funds
Chart of Accounts & Definition of Cost Center Review From Account Management Workshop
• Chart of Accounts– What is a Chartfield String?– Differences Between Various Types of Chart Fields– Organizational Structure– Department Tree Structure
Chart of AccountsReview From Account Management Workshop
Chartfields
– Account (6 characters numeric)– Fund (5 characters alphanumeric)– Department ID (5 characters numeric)– Program (4 numeric)
– Class (5 alphanumeric) – Project (8 numeric)
Chartfield String
Chartfield String = Account + Fund + Department + Program + Class + Project
Differences Between Various Chart Fields
• Mandatory chartfields– Account (6 characters numeric)– Fund (5 characters alphanumeric)– Department ID (5 characters numeric)
• Optional chartfields– Program (4 numeric) – Leave Blank– Class (5 alphanumeric) – Extension of Dept– Project (8 numeric)
Departmental Financial Management Responsibility:
Balancing at Department + CMS Fund
Accounting Entries & Adjustments Review From Account Management Workshop
Accounting Process
– Requesting New/Existing Funds/Accounts/Projects
– Expenditure Adjustments/Corrections/Transfers
– Recharges
Monthly Standard Reports
CMS Training Documentation and Tutorials
http://www.fullerton.edu/cms/Training/docs/finance.html
List of Distributed Reports– Budget Balance Available Report– Requisitions/P.O. Report– Expenditure Summary & Detail– Open Commitments
Reference• Website address for Trust Agreement
http://finance.fullerton.edu/Controller/Accounting/TrustFunds.aspx