Содержание
- 2. Introductions Financing and Treasury Colleen Nickles, Senior Director Rosa Renaud, Senior Financial Manager Angelique Sutanto, Financial
- 3. Agenda Systemwide Revenue Bond Program Flexibility with New Bond Indenture Executive Order 876 Decentralization of the
- 4. Systemwide Revenue Bond Program (SRB) A pooled security debt program that provides greater security to bondholders
- 5. Systemwide Revenue Bond Program (SRB) Bonds issued under the SRB program are secured by a gross
- 6. Systemwide Revenue Bond Program (SRB) Also incorporates other Auxiliary Organizations into the debt program as the
- 7. SRB and Student Unions Under the SRB program, we have been able to issue bonds for
- 8. SRB and Student Unions The SRB bond indenture is more flexible in certain areas than prior
- 9. SRB and Student Unions Decentralization for the student unions occurred with Richard West memo dated April
- 10. Student Unions Eligible for Decentralization Bakersfield – Refunded Bonds Dominguez Hills – Refunded Bonds Fresno –
- 11. Executive Order 876 Financing & Debt Management Policy A CABO advisory committee was created to develop
- 12. Executive Order 876 Financing & Debt Management Policy All student union programs regardless of whether they
- 13. Executive Order 876 Critical Requirements Two key benchmarks are defined in the policy to monitor campus
- 14. Executive Order 876 Critical Requirement - DSCR The Net Revenue Debt Service Coverage Ratio (DSCR) is
- 15. Executive Order 876 Critical Requirement - DSCR Policy Minimum DSCR Benchmarks are: Systemwide: 1.45 Campus: 1.35
- 16. Executive Order 876 Critical Requirement – Debt Capacity Debt Capacity is a measure that focuses on
- 17. Executive Order 876 Critical Requirement – Reserves Campuses are responsible for developing reserve policies that, at
- 18. Executive Order 876 Critical Requirement – Reserves Repair and Replacement Funds - Decentralized Student Unions are
- 19. Decentralization of the Student Union Program – Effects on the Unions Unions are still under the
- 20. Decentralization of the Student Union Program – Effects on the Unions Unions/campuses will receive an annual
- 21. Decentralization of the Student Union Program – Effects to the Campus’ CFOs Richard West requests that
- 22. Decentralization of the Student Union Program – Effects to the Campus’ CFOs The CFO is responsible
- 23. Decentralization of the Student Union Program – Effects to the Campus’ CFOs The CFO must assure
- 24. Decentralization of the Student Union Program – Effects to Financing and Treasury (FT) FT continues to
- 25. Major Accounting Changes for Decentralized Student Unions Presentation by: Systemwide Financial Operations
- 26. Funding student union operations (Return of Surplus)
- 27. Fund 580 Dormitory Revenue Fund
- 28. SMIF interest earnings
- 29. Cost recovery for centrally paid expenses (e.g. debt service obligations and reserves, State Pro Rata, and
- 30. Transfers to Fund 575 Dormitory Building Maintenance and Equipment Reserve Fund (DBMER) also known as the
- 31. Transfers to Fund 576 Dormitory Construction Fund (DCF)
- 32. State Controller’s Office Contacts Dana Parrish (916) 324-5921 Plan of Financial Adjustments, Allocation Orders Karen Brenenstall
- 33. Financing and Treasury Student Union Budget Review Process
- 34. Student Union Budget Forms Review of Student Union Budget Forms -Handout. Campuses have flexibility to modify
- 35. Senior Bonds - Student Unions Flow of Funds – “Old Method” Fee Revenue Debt Service &
- 36. Decentralized Student Unions - Flow of Funds Fee Revenue & Int. Income Union Oper. Expenses/ Aux.
- 37. Student Union Budget Analysis Sheet ❑ Confirm that “actuals” trace to audited DRF financial statements; ❑
- 38. Student Union Budget Analysis – Key Reviews Schedule 1 – Cash Flow and Operation Projections: This
- 40. Student Union Budget Analysis – Key Reviews Schedule 2 – Working Capital and Contingency Reserve Computation:
- 42. Student Union Budget Analysis – Key Reviews Schedule 3 – Fee Revenue Summary: Confirm that Actual
- 44. Student Union Budget Analysis – Key Reviews Schedule 4 – Capital Equipment and Related Expenses: Review
- 46. Student Union Budget Analysis – Key Reviews Schedule 5 – Summary of Key Bond Covenant Test:
- 48. New Debt Service Coverage Ratio Form FT will request from campuses to submit this summary form
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