Annual Financial Statements

2011 Government Code Section 12440.1(c) changed the financial reporting requirements for the CSU system and its universities beginning fiscal year 2011-2012. The new legislation eliminates the requirement for campus stand-alone financial statements. Instead, the statement of net assets, statement of revenues, expenses, changes in net assets, and statement of cashflows of each campus shall be included as an addendum to the annual systemwide audit. Summary information on transactions with auxiliary organizations for each campus shall also be included in the addendum. The Systemwide audited financial statements are located on the CSU’s website http://calstate.edu/SFSR/GAAP/Audited_Financial_Statements/12AudFS.pdf. The financial data for Cal State San Marcos starts on page 153 and can also be viewed by clicking on 2011/12 Financial Statement above.