Since pooled fringed began in September 2018, centrally funded fringes have posted to departmental accounts as an expense (object code 1100) with a budget adjustment (object code 9XXX) to offset the expense. Accounting and Financial Management and the Budget Office received feedback that this was creating negative effects to CSU’s due to increased expense and budget totals. After working with the Provost Office, we will be implementing a new methodology for posting centrally funded fringes to departmental accounts:
- Beginning September 1, 2020, departmental accounts will no longer see the budget adjustment, instead, they will see a contra-expense (object code 1158) to offset the fringe expense (object code 1100.)
- Additionally, longevity expense (object code 1135) will be changed to mimic the fringe expenses. Longevity expense will also be offset with a contra-expense (object code 1157), instead of the historically-used budget adjustment (object code 9XXX).
This is a change to the previous method for posting longevity charges, but both fringe and longevity expenses will still net to zero expense at the departmental account level on centrally funded accounts. This change will mean that your budget adjustment amounts will be lower than they previously were. You will still be able to view all of your account’s information on the Detailed Account Balances GB2 on the web page or get detailed reports via Cognos. Please contact Lori Peterson or Madison Leach if you have any questions.