001.4 Financial Accounting Entity

Owned by Chad
May 20, 2021
1 min read

The PSU annual financial statements are prepared on a consolidated basis, and include all funds and accounts. The Controller’s office prepares the annual financial statements for PSU. The annual financial statements follow the fiscal year July 1- June 30, and are issued within six months of the end of each fiscal year. The financial statements are audited and presented to the Board for their review and acceptance.

The PSU annual financial statements also report the financial activity of the Portland State University Foundation.  Financial activity of the foundation is reported on separate pages within the financial statement as discretely presented component units to emphasize that they are tax-exempt non-profit organizations legally separate from PSU.

The PSU annual financial statements do not include organizations that are not financially accountable to PSU, such as booster and alumni organizations.