Post on 24-Jul-2020
FST ROUND TABLE
October 21, 2015
2:00pm to 3:30pm
Strathcona Anatomy & Dentistry Building, Faculty Council Room M/48
Agenda
1. Announcements, Updates & Reminders
2. Compliance Results – Tri-Agency Audit Simulation
3. Best Practices – Faculty of Law
4. Quarterly Internal Services Expenditures & PO Variance Reports
5. New FFM/PI/Delegate Approval Queues in MOPS for PCard Transactions
6. Open Dialogue / Q & A / Closing Comments
Staff Announcements
Staff Announcements
Welcome back Oksana Vasilik, Supervisor
Nivethika Kandasamy, Financial Administrator, SSHRC Grants, SSHRC Inter-Institutional
FST Round Table Slides & Schedulehttps://www.mcgill.ca/research/ran/members/financial-services-teams-fst
How FST Jurisdiction is Assigned
WHAT WHO HOW EXAMPLE
Assign FFM to FST
Financial Officer
Minerva FST AdministrationMenu
Prof Cooper
ENG01
View FST by Fund Code
All FTMFUNDMcGill Fund Options
Prof Cooper’s Funds:224571 ENG01 (default)210802 ENG01 (default)213895 ENG01 (default)
Override or Disable FST for a Fund Code
FinancialOfficer – Email Fissecurity.acct@mcgill.ca
FTMFUNDMcGill Fund Options
224571 ENG02 (override)
For more info, please visit: www.mcgill.ca/financialservices/ffo
Honouring on-going salary commitments after PI resigns
Grant will be terminated as of the end date of the PI’s appointment with the University
Tri-Agencies will honour on-going commitments of salaries encumbered prior to the end of the grant.
Example: PI resigns from McGill as of February 28th. PI will no longer be eligible to incur new expenses as of that date. However, the agency may authorize that a commitment (usually student salaries) made prior to February 28th to continue to be paid (up to 6 months following the PI’s resignation).
Honouring on-going salary commitments after PI resigns (cont’d)
Answer:
The stipend in the amount of $20,000 needs to be pro-rated to reflect 6 months as of March 1. The PI can only pay the student for 6 months from the date of departure (i.e. $20,000/12 x 6 months) for a total of $10,000. The balance can be paid from another funding source.
Scenario:
PI has offered a stipend to a student for $20,000 for the period of January 1 to December 31 but he terminates from the University as of February 28. Can he still pay the student the $20,000 in the 8 month period (i.e. 6 month phase out ends August 31)?
Terminating Funds
Emails will be sent to all Grantees/FST for all funds with an end date of March 31, 2016.
This will be done by mid-November.
Travel Desk UpdatesExpense Report Signatures
All EXRs must be signed by the claimant and the PI/FFM
ONLY in cases where PI is on sabbatical and/or not living in Montreal, an email approval will be accepted
Email approval must include sufficient info to tie it back to the claim – amount, claimant, ER number and pdf copy of claim to be attached
Email must also include attestation note disclosed per the expense report
Travel Desk UpdatesExpense Report Signatures (cont’d)
In cases where the approver is away at a conference, or away for a short period, it is recommended to use the delegation menu
In all other cases, email approval is not an acceptable method for simply a matter of convenience
The approval process vis-à-vis signature vs. email approval is currently under review. Until further notice, it is status quo.
Travel Desk UpdatesFST Claims – Change in Process
Effective November15th, Travel Desk will no longer be performing cursory reviews on claims approved by the FST
Link: https://www.mcgill.ca/research/ran/members/financial-services-teams-fst/2015-fst-round-table
Travel Desk UpdatesFST Claims – Change in Process
Expense Report stamp with your initials signify that you are certifying that the ER complies with University policy and/or Granting Agency Guidelines
TRI-AGENCY AUDIT SIMULATION
Samples were selected from all 11 faculties
The review of supporting documentation has been completed
We are currently compiling the results
A preliminary assessment shows that the overall University performance is favorable
Final results will be communicated by the end of October
Transaction streams with highest non-compliance:
o Appointment Forms
o Journals
o Feeds/IDCs
The major finding is – Missing PI approval
Appointment Forms
Offer Letters must be signed by the Principal Investigator (PI) or co-signed with the Chair and/or HR representative
There must also be a PI confirmation of the fund to charge including labour distribution percentage/s
Any subsequent changes in labour distribution must be supported with the PI’s approval
Electronic or digital signatures are not acceptable
Journal Vouchers
Ensure eligibility of the item to be reclassified prior to processing the entry
PI approvals are required and must be retained in a central repository
Email approvals are acceptable
TRI-AGENCY AUDIT SIMULATION
FST PresentationFaculty of Law
Best Practices Presentation:Fund Reconciliations
Fund Reconciliations
Fund Balances and Profiles by Financial Manager - Crystal Report
The FFMs are able to easily access this report and are able to quickly review their fund balances and expenditures
Depending on their concerns I produce a detailed report for them – example: Payroll, BSA, Outstanding Advances, Commitments.
A PDF format of this report is emailed to the FFM’s bi-monthly
Fund Reconciliations
Perform monthly reconciliations for Operating Funds under the jurisdiction of the Dean
This allows me to make sure that all expenses are related to the Faculty’s operating activities
Perform monthly reconciliations on problem Grants
Some grants require more attention to ensure that the funding is spent and that the expenses are eligible and compliant with sponsor regulations
Fund Reconciliations
In my role as FST I train other areas in the Faculty to prepare reconciliations under their jurisdiction for the Dean to approve.
Institute of Air and Space Law
Paul-André Crépeau Centre for Private and Comparative Law
Centre for Intellectual Property (CIPP)
Centre for Human Rights and Legal Pluralism (CHRLP)
Career Development Office
Sample of Reconciliation
Fund 151300
Faculty of Law Operating Fund
Analysis as at August 31, 2015
Commitments $10,000.00
Expenses 2014-2015 $2,009,999.00
Budget 2014-2015 ($2,000,000.00)
Balance as at April 30, 2015 $19,999.00 over-spent
Commitments as at August 2015 $80,000.00
Expenses:
May 31, 2015 $89,700.00
June 30, 2015 $76,601.00
July 31, 2015 $101,623.00
August 31, 2015 $132,824.00
Budget 2015-2016 ($1,000,000.00)
Balance as at August 31, 2015 ($519,252.00) balance
Fund Reconciliations
The reconciliation includes the following:
Monthly Fund Details (FZRG0021/FZRG0049)
Review and Authorization stamp
Reconciliation Prizes and Scholarships
This reconciliation is given to the Dean at the beginning of April before the awards are given and at the end of December once they have been processed.
Reconciliation Prizes and Scholarships
Group Reconciliation Prizes and Scholarships
April 30, 2015
Fund Fund Title
Budget 2015-
2016
Prior Year
Surplus/Deficit Commitments Expenses Awardee Balance Comments Dean's Comments
xxxxxx Lord Reading Soc. Human Rights Bursary 0.00 0.00 0.00 0.00 John Doe 0.00
Summer 2013 internship to be charged to this
balance before the end of Fiscal Year 13
xxxxxx William Kagan Memorial Prize 0.00 0.00 0.00 0.00
Endow
Capitalization 0.00 Prize on hold until fund accumulates $500
xxxxxx
Toronto Alumni 150th Anniver
Scholoarship 0.00 0.00 0.00 0.00 John Doe 0.00
Entrance Scholarhip award full amount in August
2013
xxxxxx Stanley Kandestin, Q.C. Prizie 0.00 0.00 0.00 0.00 N/A 0.00
Entrance Scholarhip award full amount in August
2013
xxxxxx Blake Cassels & Graydon LLP Scholar 0.00 0.00 0.00 0.00
John Doe and John
Smith 0.00 N/A
xxxxxx Nancy Park Memorial Prize 0.00 0.00 0.00 0.00 John Smith 0.00
Summer 2013 internship to be charged to this
balance before the end of Fiscal Year 13
xxxxxx Setsuko Ushioda-Aoki Prize 0.00 0.00 0.00 0.00 N/A 0.00 Prize on hold until fund accumulates $500
xxxxxx Lindsey Anne Cameron Award 0.00 0.00 0.00 0.00 Mary Smith 0.00
Summer 2013 internship to be charged to this
balance before the end of Fiscal Year 13
xxxxxx Steve and Rob Michelin Scholarships 0.00 0.00 0.00 0.00
Mary Smith and
John Dow 0.00
Entrance Scholarhip award full amount in August
2013
xxxxxx Stephen A. Scott Award in Law 0.00 0.00 0.00 0.00 John Doe 0.00 N/A
xxxxxx Brett Code Scholar Criminal Law 0.00 0.00 0.00 John Smith 0.00 N/A
Prepared by: Pina Ricco
Reviewed by: Debbie Carlone
Approved by: Dean Daniel Jutras
FST Manager
I want to acknowledge my administrator Sabrina Falco who is a valuable member of my team.
Approving PCardtransactions which have been reconciled in MOPS
The PCard Requirement
The Tri-Agency Requirement is:
Transactions must be approved by the Fund
Financial Manager (FFM) or the FFM’s delegate prior to
being posted to a Tri-Agency fund.
STEP 1: Make a
purchase using PCard
STEP 2: Reconcile the transaction in
MOPS
STEP 3: Approve the transaction in
Minerva
STEP 4: Transaction is posted to the
ledger
STEP 2: Reconcile the transaction in
MOPS.
Minerva updates the transaction
status.
STEP 3: Transaction
arrives in Approver’s
queue.
AUTO-APPROVED
• Transaction is automatically approved when the Reconciler in MOPS is the FFM or the FFM’s delegate.
• Transaction posts to CORRECT FOAPAL.
APPROVED
• Approver approves the transaction.
• Transaction posts to CORRECT FOAPAL.
DISAPPROVED
• Approver rejects the transaction (w/ explanation)
• Transaction appears back in MOPS.
POSTED TO DEFAULT FUND
• Approver does not approve within specified timeframe.
• Transaction posts to DEFAULT FOAPAL.(Default FOAPAL Tri-Agency Grant)
Approving PCard transactions which have been reconciled in MOPS
Where do you approve reconciled PCardtransactions? New “Approvals” menu item in the Finance (Fund) Administration
Menu
Who has access to approve reconciled PCardtransactions? Fund Financial Manager (FFM)/Principal Investigator (PI) of the
fund(s) charged
Approval Delegates as per Procurement Administration Menu
Are Approvers notified when there are pending transactions to be approved? YES – system generated emails
Is it possible to see the approval history of a transaction? YES
Approving PCard transactions which have been reconciled in MOPS
Have any changes been made to the MOPS menu? NO
Do PCard Holders and/or PCardAdministrators need to request additional access? Only if they should be considered “Approvers” and do not fall into
one of the two categories for “who” has access to approve reconciled PCard transactions.
Approving PCard transactions which have been reconciled in MOPS
Upcoming FST Meetings
Upcoming FST meetings
Faculty of…
Next Meeting
The FST meeting schedules for 2015 & 2016 is posted on the RAN site
https://www.mcgill.ca/research/ran/members/financial-services-teams-fst
Date Time Location Room
December 2, 2015 2:00pm –3:30pm
Strathcona Anatomy & Dentistry
M/48
OPEN DIALOGUE