401 Golden Shore, 5th Floor
Long Beach, CA 90802-4210
Assistant Vice Chancellor, Controller
2009/10 Cal Grants Pending Reimbursement from CSAC at Year End
Per the memorandum dated May 7, 2010 titled California Student Aid Commission Alert Suspending Cal Grant Payments issued by Dr. Benjamin F. Quillian, campuses are to treat Cal Grant A and B awards as accounts receivable from the state. These directives shall be implemented by the campus Financial Services staff using the following steps:
- In the event that reimbursement is not received by June 30, the campus will establish a lump sum receivable in the Cal Grant fund, CSU fund 424, for the Cal Grant A and B award amount owed from the California Student Aid commission (CSAC).
- In the event that reimbursement is not received by June 30, the aid would have been disbursed to the student accounts. Therefore, CSU fund 424 will have a deficit or negative cash balance. Under those circumstances, campus 4th quarter FIRMS submissions are expected to contain this abnormal balance which will be passed by the FIRMS manual edit process.
To ensure consistent treatment across campuses, a schedule of sample accounting entries have been provided in Attachment A.
If you have questions, please contact Lily Wang at (562) 951-4628 or Sherry Pickering at (562) 951-4519.
cc: Dean Kulju, Student Academic Support