California State University Institute

“Process of reviewing form 990 form 990, part vi, section b, line 11b the board of directors (the "board") has delegated the review of the form 990 to the audit committee. The senior director and senior financial reporting manager of the systemwide financial standards & reporting at the chancellor office works closely with the outside accounting firm, kpmg, it engages to prepare the return; and the final form 990 is also reviewed by the controller prior to providing the form to the audit committee. Subsequent to its review, the audit committee reports back to the board regarding its oversight of the form 990 and the final form is provided to the entire voting board before the return is filed.”

“Monitoring and enforcement of the conflict of interest policy the audit committee reviews and, as necessary, recommends actions related to significant conflicts of interest and related party transactions. Pursuant to the conflicts of interest policy updated and approved february 2014, an annual conflict of interest form, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i.e., board members, senior financial officers.) the procedures for addressing any conflict of interest includes, but is not limited to, the following: (1) the conflicting interest is fully disclosed to the board; (2) the board discusses the matter in open session, allowing the director whose conduct is at issue to provide explanation; (3) the person with the conflict of interest is excluded from the discussion and approval of such transaction; (4) the board takes action regarding the matter by majority vote; and (5) such action may include validation of the transaction with conditions, censure or removal of the director, rescission of the transaction, or any other action deemed appropriate by the board. Any conflicts that are identified are entered into the board minutes in addition to any resolution to the conflict which has been taken. Form 990, part vi, section b, line 13: written whistleblower policy the csu institute does not have employees. Csu institute applies the whistleblower policy of the california state university, which is their related organization, when necessary. Form 990, part vi, section b, line 14: written document retention and destruction the csu institute updated and approved february 2014 a record retention and destruction policy. The board of directors, including the staff in charge of the organization, has an obligation for maintaining and documenting the storage and destruction of records. It designates the length of time to maintain business records for legal, fiscal, operational, and historical needs for the objective of: 1) ensuring regulatory compliance; 2) providing for systematic disposition of records when they have fulfilled their usefulness; and 3) transferring vital information from current to future leadership.”

“Disclosure of documents form 990, part vi, section c, line 19 while federal tax laws do not mandate that the organization's governing documents, conflict of interest policy, whistleblower policy, records and retention and destruction policy, and financial statements be made available for public inspection, the organization makes them available upon request.”

“Letter of credit fees: program service expenses 1,131,250. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,131,250. Comm paper dealer fees: program service expenses 74,004. Management and general expenses 0. Fundraising expenses 0. Total expenses 74,004. Comm paper rating agency fees: program service expenses 38,417. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,417. Comm paper program costs: program service expenses 23,137. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,137. Issuing and paying agent fees: program service expenses 4,212. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,212.”