Year End Closing Revolving Fund Justine Heartt Sacramento State [email protected] 916-278-7440.

Year End Closing Revolving Fund

Justine Heartt

Sacramento State

[email protected]

916-278-7440

YE Closing Revolving Fund 2May 23, 2006

Revolving Fund Must Be Zero (0)

Your Campus Revolving Fund must be zero (0) at June 30th.

SCO Fund 0998, FNAT 109243 3 Easy Steps to Close

Your Choice Manual Journal Entry Allocation Process

YE Closing Revolving Fund 3May 23, 2006

Steps to Zero Out

Step 1 - Transfer all Account balances from Office Revolving Fund (109243) to General Fund Revolving Fund Advance (111613)

Step 2 - Eliminate Accounts for the Due from Office Revolving Fund (105026) and Due to General Fund (202001) within the General Fund Revolving Fund Advance

Step 3 - Reclassify Account Due from General Fund (105001) to Due from Other Appropriation (105027) within the General Fund Revolving Fund Advance AND Reclassify Account Due to Office Revolving Fund (202026) to Due to General Fund (202001) within any Fund that has Balance in Account 202026

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Step 1

Transfer Account BalancesMake sure all journal entries have been

completed in your Office Revolving FundManual Journal Entry or via an Allocation,

move All Ending Account Balances from your Office Revolving Fund to your General Fund Revolving Fund Advance

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Step 2

Elimination Entry is necessary since everything is now located in the General Fund Revolving Fund AdvanceManual Journal Entry or via an Allocation,

eliminate Accounts for the Due from Office Revolving Fund and Due to General Fund within the General Fund Revolving Fund Advance

YE Closing Revolving Fund 6May 23, 2006

Step 3

Reclass Entry Necessary – we can’t show amounts Due from the Fund where all amounts are now located since transfer Manual Journal Entry or via an Allocation, Reclass

Account Due from General Fund to Due from Other Appropriation within General Fund Revolving Fund Advance AND Reclassify Account Due to Office Revolving Fund to Due to General Fund within any Fund that has Balance in Account 202026

YE Closing Revolving Fund 7May 23, 2006

Summary Document

YE Closing Revolving Fund 8May 23, 2006

CMS YE FUG Training by Debbie Brothwell, Cal Poly

May 2005 CMS YE FUG Training “Tips and Tricks” Presentation Allocation Process to Close Out Revolving

Fund is on Pages 3 – 19 http://cms.calstate.edu/T5FUG_Postings.asp User name: csucms Password: cms04docs

YE Closing Revolving Fund 9May 23, 2006

YE Closing Revolving Fund 10May 23, 2006

QUESTIONS?