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Inter-Fund Activity

Objectives

There are two types of Inter-Fund transactions.They are as follows:

1. Reciprocal Transactions
   • Cost Recovery Transactions
2. Non-Reciprocal Transactions
   • Transfer In-Out Transactions
   • Reimbursements / Abatements

The objective of this document is to define the two types of transactions listed above and to assist users in selecting the correct object codes.

Reciprocal Inter-Fund Activity

Inter-Fund Cost Recovery Transaction

An Internal Service Transaction is when a campus department provides goods or a service to another campus department. The Department providing the goods or service would record the revenues in one of the following accounts based on criterion listed and charge the department receiving the goods or service using the appropriate expense account that best matches the goods or service received.For auditing purposes, the department providing the goods or service needs to have written approval (e-mail, contract, workorder, etc.) from the department receiving the goods or service to charge their fund along with appropriate chartfields with proper signature authorization.

Revenue Account Number	Criterion for using Account	Combinations
580094	Transaction occurs between two campus funds within the same state fund 0948 (Column A).	(A,A)
580095	Transaction occurs between a campus fund and an Auxiliary.	(A,C) (B,C) (C,A) (C,B)
580096	Transaction occurs between two campus funds in different State Funds.	(B,A) (B,B) (A,B)

A Campus Funds in State Fund 0948	B Campus Funds not in State Fund 0948	C Auxilaries
401XX, 403XX, 407XX, 408XX, 409XX, 421XX, 422XX, 431XX, 432XX, 433XX, 434XX, 441XX, 452XX, 461XX, 463XX, 465XX, 46GXX, 47XXX, 48XXX, 49XXX, 52101, 53XXX, 54101, ACGXX, AX001, BD948, CBGTL, CFXXX, CGXXX, CP001, EDDXX, ERXXX, FAXXX, GF001, GFINT, HS001, IPXXX, IRXXX, MTINT, MTXXX, RA001, SLGXX, SLPXX, SLSXX, SLUXX, SMGXX, SSXXX, UFXXX	22204, 22205, 22299, 22401, 22801, 31820, 319XX, 320XX, 32101, 391XX, MJ001, MJ003	Associated Students, 49er Shops, Foundation

Transaction Types

Use these expense accounts for transferring between funds:

Fund A

	A - Between Campus Funds in State Fund 0948	B - Between Campus with Different State Fund Attributes	C - Between All Campus Funds and Auxiliary
Providing Service	580094	580096	580095
Receiving Service	*6XXXXX	6XXXXX	Auxiliary Books

Fund B

	A - Between Campus Funds in State Fund 0948	B - Between Campus with Different State Fund Attributes	C - Between All Campus Funds and Auxiliary
Providing Service	580096	580096	580095
Receiving Service	6XXXXX	6XXXXX	Auxiliary Books

Fund C

	A - Between Campus Funds in State Fund 0948	B - Between Campus with Different State Fund Attributes	C - Between All Campus Funds and Auxiliary
Providing Service	580095	580095
Receiving Service	6XXXXX	6XXXXX	N/A

*Many of these will be Personnel costs and the appropriate account is 601307 (Temp Help) as it will not impact your LCD reports.

Example I

Housing, Fund 53101 (A) rents out The Pointe to Parking, Fund 47201 (A) for $100.00 .Housing will have some form of documentation from parking giving approval to charge Fund 47201 for the rental charge along with the appropriate chartfields. The correct expense account to use when renting the Pointe is account 660041/Space Rental. A journal entry is then prepared by Housing as follows:

Fund	Account	Dept.	Amount
53101	108090		100.00
53101	580094	00123	(100.00)
47201	660041	00763	100.00
47201	108090		(100.00)

Example II

Facilities Management, Fund SS003 (A) receives a workorder (events) from Associated Students (C or Auxiliary). Facilities Management completes the workorder. A journal entry (1) is then prepared by Facilities Management recording the revenue in SS003 and charging the expense to Reimbursed Activities, Fund RA001 using program code R0105 (Assoc. Students). At the end of the month, General Accounting will generate an invoice through the A/R Billing system which will create a journal (2) recording the receivable and revenue in Fund RA001.The invoice is sent to ASI. A check is generated by ASI and is sent to General Accounting who deposits the check at the Cashiers Office.The next day, General Accounting processes the Cash Receipts Interface File (CRI) which (3) debits cash and credits the A/R account.The journals are as follows:

Journal # 1 / Prepared by Facilities Management

Fund	Account	Dept.	Program	Amount
SS003	108090			400.00
SS003	580095	00781		(400.00)
RA001	660929	00264	R0105	400.00
RA001	108090			(400.00)

Journal # 2 / Prepared by General Accounting

Fund	Account	Dept.	Program	Amount
RA001	103902			400.00
RA001	505109	00264	R0105	(400.00)

Journal # 3 / Prepared automatically when General Accounting processes the CRI File.

Fund	Account	Dept.	Program	Amount
RA001	108090			400.00
RA001	103902			(400.00)

Example III

PPFM, Fund CP001/State Fund 0948 (A) charges the Parking Structure III Project, Fund 22204/State Fund 0576 (B) for Construction Management Fees.The journal entry will be prepared by PPFM and account 305022 should be used in place of account 108090 because the Parking Structure is funded by State Revenue Bonds and all expenses are to be paid by the SCO. All (A) to (B), (B) to (A) and (B) to (B) transactions should use account 305022 in place of account 108090 because all (B) funds are Construction or Capital Outlay Funds and are claimable at the SCO.The General Accounting Department uses account 305022 to reconcile fund balances for (B) funds with the SCO on a monthly basis.The journal entry is as follows:

Fund	Account	Dept.	Program	Amount
CP001	305022			1,000.00
CP001	580096	00715		(1,000.00)
22204	607032	00715	09205PK071	1,000.00
22204	305022			(1,000.00)

Non Reciprocal Inter-Fund Activity

Transfer-In / Transfer-Out Transaction

Transfer-In / Transfer-Out accounts should be used when there is a flow of assets (such as cash or goods) without equivalent flows of assets in return and without a requirement of repayment.

Transfers-In object codes must identify the fund from which the transfer is being made and Transfer-Out object codes will identify the target Fund.

The following grid can be used to determine what accounts to use when recording transfer-in / out transactions.

For transactions between campus funds in state fund 0948, the last three digits of the accounts represents the CSU Fund:

• Account 570XXX - Transfer In / the last three digits of the account should be the CSU fund from which the transfer is being made.
• Account 670XXX - Transfer Out / the last three digits of the account should be the CSU fund that your transferring to.

	Between CSU Funds in SCO 0948	Within the same CSU Fund in SCO 0948
Within Campus Transfer In	570XXX	570000
Within Campus Transfer Out	670XXX	670000

Example I

Each year monies are appropriated to the Campus from the State for State University Grants (SUG).These monies are initially recorded in Fund GF001. As students grants are awarded from Fund 42207 (SUG), monies are transferred from Fund GF001 to Fund 42207 to cover the awards. The journal entry is as follows:

Fund	Account	Dept.	Program	Amount
42207	108090			1,000.00
42207	570485	00731	10169	(1,000.00)
GF001	670422	00004	10169	1,000.00
GF001	108090			(1,000.00)

Example II

Housing creates purchase order to do some maintenance and repair work to the dorms.The PO is issued against Fund 53201 (Housing Maintenance & Repairs).All revenues generated by Housing are recorded in Fund 53101 (Housing Revenue). Therefore, as project costs are incurred in Fund 53201, monies will need to be transferred from Fund 53101 to Fund 53201 to cover such costs.The journal to transfer the monies by Housing is as follows:

Fund	Account	Dept.	Amount
53101	670532	00123	100,000.00
53101	108090		(100,000.00)
53201	108090		100,000.00
53201	570531	00123	(100,000.00)

Example III

Facilities Mgmt, Fund SS003 (CSU 543) and Physical Planning, Fund SS004 (CSU 543) agree to purchase a Golf Cart to be used by both departments.The Purchase Order is issued against Fund SS003.The purchase price of the Golf Cart is $3,000.00 . Facilities Mgmt should have some form of documentation from Physical Planning giving approval to transfer $1,500.00  from Fund SS004 to SS003.The journal prepared by Facilities Mgmt. is as follows:

Fund	Account	Dept.	Amount
SS003	570000	00781	(1,500.00)
SS003	108090		1,500.00
SS004	670000	00715	1,500.00
SS004	108090		(1,500.00)

Inter-Fund Reimbursements/Abatements

Interfund repayments from the funds responsible for particular expenditures or expenses to the funds that initially paid for them are classified as nonreciprocal reimbursement-type activities.For the CSU Fund receiving the reimbursement, the initial debit to the expense object code is offset with a credit to the same expense object code.For the CSU Fund paying the reimbursement, a debit is made to the appropriate expense object code.This method of recording the reimbursement as a direct offset to the initial payment in the CSU Fund receiving the reimbursement does not result in a doubling up of expenses and therefore does not require a GAAP elimination adjustment. Instances when Inter-Fund Reimbursement Transactions are required are as follows:

*Expense is paid by one fund on behalf of another fund due to lack of adequate information at the time the transaction was recorded or an error was done due to originally recording the expenses to the wrong fund.

*Also, abatements would be classified as a Fund Reimbursement Transaction. Please see following examples.

Example I

Correction /General Accounting buys office supplies using Fund GF001.The charge should have gone against fund MT011.

Original Payment

Fund	Account	Dept.	Amount
GF001	660003	00105	2,000.00
GF001	108090		(2,000.00)

Reclassifying Entry

Fund	Account	Dept.	Amount
MT011	660003	00105	2,000.00
MT011	108090		(2,000.00)
GF001	108090		2,000.00
GF001	660003	00105	(2,000.00)

Example II

Abatement / Campus telephone expenses are paid by telecom.The employee receives monthly print out of their phone usage. Employee determines that personal phone calls for the month totaled $25.00 .The employee deposits check at Cashiers Office.The Journals are as follows:

Original Payment

Fund	Account	Dept.	Amount
GF001	604803	00212	200.00
GF001	108090		(200.00)

Reimbursement

Fund	Account	Dept.	Amount
GF001	108090		25.00
GF001	604803	00212	(25.00)

Example III

Abatement / University employee in Housing plans on attending a conference in Sacramento to be held in April.In February, the employee starts making travel arrangements by purchasing a refundable airfare ticket from Gisselles (University Travel Agency).The University receives an invoice from Gisselles for $450.00 .The Accounts Payable Dept. pays the invoice.At the middle of March, the employee receives notice that the conference has been cancelled due to lack of interest. A request is made to Gisselles for a refund. A refund check is issued by Gisselles and sent to the University.

Original Payment

Fund	Account	Dept.	Amount
53101	606001	00123	450.00
53101	108090		(450.00)

Reimbursement

Fund	Account	Dept.	Amount
53101	108090		450.00
53101	606001	00123	(450.00)