Mark Your Calendars! Spring 2021 What’s Up? Presentation

The Finance and Business Services team is hosting the Spring 2021 What’s Up presentation through Zoom webinar.

Date: Friday, April 9, 2021
Time: 9:00-10:00 AM

Please register and join us as we share information on topics including:

  • Fiscal year-end deadlines
  • New and improved website overview
  • Much more!

We look forward to connecting with you!

February Accounting Period Close

For employees who track or manage department budgets, please note that the month of February 2021 is now closed in CFS.

This means that the General Ledger (GL) system will not accept any more entries with a February journal date. February transactions can still be entered into the GL system, but the journal date must be 3/1/21 or later. The current period open is March 2021.

PaCE Fund Documentation

CSU Audit and Advisory Services recently completed an audit of Professional and Continuing Education (PaCE) programs at SJSU. One of the findings needs to be addressed by all departments with self-support programs:
PACE fund expenditures were not always properly documented to show a clear and appropriate connection between the expenditure and the overall support and development of self-support programs….We recommend that the campus: 
a. Improve its enforcement of the requirement to maintain documentation demonstrating a clear and appropriate connection between PACE expenditures and self-supporting programs that benefit from the expenditures, and ensure the standards are communicated to appropriate employees. 
b. Develop a more effective process for reviewing expenditure activities in PACE funds to ensure proper coding for transactions.
We’ve taken action in FTS to help departments comply with PaCE policies. In response to this finding, you will see a reminder in FTS about the PaCE “golden rule”: 
PaCE funds (48xxx) may only be used for the support and development of self-support programs. Please refer to the PaCE guidelines for more information.
This is a temporary measure while we work on modifications to FTS that will prompt users to provide some additional information when using PaCE funds. We’ll let you when this change has been implemented and what you need to do.