Miscellaneous Trust and Special Projects
Per the California State University ICSUAM 13680, “EC § 89721 provides for the broad delegation of authority for certain monies to be deposited in State Controller’s Office (SCO) Fund 0948. In order to provide management, governance and ensure compliance, the CSU has established unique CSU funds within SCO Fund 0948 to account for the financial resources collected for a specific purpose. Generally, these funds exist to support the campus in the achievement of its mission”.
To combat potential risk and ensure compliance with CSU Policies, San Francisco State University establishes trust fund agreements for funds that were not established under a Delegation of Authority. Delegation of Authority includes the Education Code, Budget Act, Government Code, Financial Aid Regulations, Grantor Agreement, Joint Powers Authority Agreement, Contract with an external agency, Letter of gift acceptance, or Executive Order. Most commonly, funds that were not established under a Delegation of Authority occur in the following CSU funds:
- CSU Fund 491 Special Projects Fund
- CSU Fund 496 Miscellaneous Trust Fund
- CSU Fund 542 Capital Project Management
The trust agreement documents the purpose of the fund as well as how the fund is to be operated. Establishing a trust fund agreement complies with Chancellor’s Office requirements as well as decreases the risk of improper fund management and inappropriate expenditures.
Per California State University ICSUAM 13680, the policy define the broad delegation of authority for certain monies to be deposited in State Controller’s Office (SCO) Fund 0948. This policy set forth establishing trust fund agreements for Special Projects and Miscellaneous Trust Funds.