FY06 Commitment Accounting Rollover June 15, 2005.
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Transcript of FY06 Commitment Accounting Rollover June 15, 2005.
![Page 1: FY06 Commitment Accounting Rollover June 15, 2005.](https://reader030.fdocuments.in/reader030/viewer/2022032612/56649eb55503460f94bbe04f/html5/thumbnails/1.jpg)
FY06Commitment AccountingRollover
June 15, 2005
![Page 2: FY06 Commitment Accounting Rollover June 15, 2005.](https://reader030.fdocuments.in/reader030/viewer/2022032612/56649eb55503460f94bbe04f/html5/thumbnails/2.jpg)
Agenda
• Key Dates and Deadlines
• Finishing Up FY05
• Getting Ready for FY06
• Using the Funding Summary Report
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FY05 Cut Off Dates
• Monday- 6/13/05 – all Direct Retro or FAS Manual PTs were due to FS-Payroll for FY05 transactions (e-mail was sent)
– Direct Retros that are submitted after 6/13 will be processed during the week of 7/25 to 7/29
– FAS Manual PTs for 2nd close will only be processed for errors that occurred in PP#26 (Forms due by COB on 7/6)
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FY05 Cut Off Dates
• Tuesday- 6/28/05 – all EFPs for FY05 must be approved in eUMB before 6 PM– EFPs entered but not approved will be
deleted that night
• This is the FY06 Rollover Date– Learn it, love it, live it…
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PP05-26 Distributions
• 6/28: Actuals Distribution process is run for PP05-26 with no encumbrances
• 6/29: Validate that payroll expenses were distributed correctly using PCD
• 7/5: Validate that payroll expenses were distributed correctly using SPC
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PP05-27 Distributions
• ESTIMATE: Calculated based on 05-26 and posted to FAS on 6/30 (Reversed in July)– Can only view on FASWeb Reports- not on
SPC or PCD
• ACTUAL: Calculated based on 06-01 distribution– Can view on PCD on 7/25 and on SPC on 7/26
• There may be differences between estimate and actuals- there’s nothing we can do
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• Review all funding sources that end 6/30/05 or earlier and determine redistributions
•Use EFP Query or Funding Summary Report (shown later)
• Complete redistributions by entering new EFP for a Budget Retro
What Should I Do Before FY06 Rollover?
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Check ALL Funding End Dates:– No Funding End Date = no change
required
– Funding End Date > 6/30/05 = no change required
What Should I Do Before FY06 Rollover?
![Page 9: FY06 Commitment Accounting Rollover June 15, 2005.](https://reader030.fdocuments.in/reader030/viewer/2022032612/56649eb55503460f94bbe04f/html5/thumbnails/9.jpg)
What Should I Do Before FY06 Rollover?
Check ALL Funding End Dates:– Funding End Date < 6/30/05 =
change now so that payroll expenses do not hit PCA
– Funding End Date of 6/30/05 = OK to change now; must change later to avoid hitting PCA
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FY05 Redistributions After FY06 Rollover
• FY05 EFPs: Cannot enter into eUMB (no Budget Retros)
• Non-State Account Codes: Must use Direct Retro process to redistribute FY05 payroll expenses (posted in FY06)
• State Account Codes: Cannot redistribute FY05 payroll expenses to/from state account codes
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Creating the Initial FY06 EFP
• EFP in effect on 6/28/05 will be used to:
– Create the initial 7/1/05 EFP
– Create the “fix” EFP to be used for any FY05 payroll expenses distributed in FY06 (Note: Fix EFP will have a Funding Begin Date of 3/23/03, employee’s hire date, or date transferred to department -- whichever is latest)
![Page 12: FY06 Commitment Accounting Rollover June 15, 2005.](https://reader030.fdocuments.in/reader030/viewer/2022032612/56649eb55503460f94bbe04f/html5/thumbnails/12.jpg)
• EFPs will be created for both active employees and employees who were terminated between 1/1 and 6/28/05
– No action is required on your part for terminated employees (unless you have a payout in FY06)
– Review initial EFP for active employees to be sure it is valid (check account codes, funding end dates, % distribution)
Creating the Initial FY06 EFP
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• Warning! EFPs with account codes citing Funding End Dates of 6/30/05 or earlier will be created with a Funding End Date of 7/1/05
– Such account codes will require your immediate attention to avoid charges to PCA
Creating the Initial FY06 EFP
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Prior to actuals distribution (7/23/05) you create a valid 7/1/05 EFP for each active employee
– You won’t have to worry about doing budget retros to redistribute your payroll expenses
What Should I Do After FY06 Rollover?
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Creating Additional FY06 EFPs
• 6/29 – 7/22: Departments review and create additional 7/1/05 EFPs as needed to reflect valid account codes, funding end dates, % distributions
– EFPs created 6/29-7/10 will display the FY05 salary
– EFPs created 7/11-7/22 will display the FY06 salary
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PP06-01 Distribution
• 7/23: Actuals Distribution process is run for PP06-01 with encumbrances for 7/10/05-6/30/06
• Week of 7/25: Validate that payroll expenses were distributed correctly
– PCD on Monday, 7/25 and SPC on Tuesday, 7/26
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PP06-01 covers payroll expenses associated with both FY05 and FY06- when the actuals distribution process is run:
– FY05 payroll expenses will be distributed based on the EFP “fix” EFP
– FY06 payroll expenses will be distributed based on the 7/1/05 EFP in effect
PP06-01 Distribution
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What happens if I don’t get a valid EFP in before actuals distribution process is run?– Payroll expenses associated with earnings
dates greater than the Funding End Dates on your EFPs will be distributed to your PCA
– You will need to do a budget retro
– You will have LARGE encumbrance balances on your PCA
PP06-01 Distribution
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If you are paying an employee who was entered in eUMB AFTER 6/28 with an effective date prior to 7/1/05: You will not be able to enter any hours in
the WET pages prior to 7/1/05
You MUST submit a PA form for retro pay- enter Account Code if you want pay to go to account other than what is effective on 7/9/05
PP06-01 (and forward) Reminders
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Using the Funding Summary Report
1. Before FY06 Rollover
2. Before first FY06 Actuals Distribution
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Checking EFPs Before FY06 Rollover
Run Funding Summary Report using an “as of” date of 6/30/05
1. Look for items marked as ‘DP’
2. Look for items marked with a PCA indicator: ***
3. Look for Funding End Dates of 6/30/05 or earlier
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Setting Up Funding Summary Report: Checking EFPs Before FY06 Rollover
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Reviewing Funding Summary Report: Checking EFPs Before FY06 Rollover
Displays EFPs in effect as of 6/30/05
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Run Funding Summary Report using an “as of” date of 7/9/05
1. Look for items marked as ‘DP’
2. Look for items marked with a PCA indicator: ***
3. Look for Funding End Dates of 7/9/05 or earlier
Checking EFPs Before First FY06 Actuals Distribution
![Page 25: FY06 Commitment Accounting Rollover June 15, 2005.](https://reader030.fdocuments.in/reader030/viewer/2022032612/56649eb55503460f94bbe04f/html5/thumbnails/25.jpg)
Setting Up Funding Summary Report: Checking EFPs Before First FY06 Distribution
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Reviewing Funding Summary Report: Checking EFPs Before First FY06 Distribution
07/09/2005
Displays EFPs in effect as of 7/9/05
REMINDER: If Funding Level = DP (Department Level Profile), employee DOES NOT HAVE EFP in eUMB. Payroll-related
expenses will be charged to the departmental PCA!
07/01/2005 ***
ALERT! Funding sources expiring 07/01/2005 or
marked with *** require your quick
attention or your PCA will be charged.
![Page 27: FY06 Commitment Accounting Rollover June 15, 2005.](https://reader030.fdocuments.in/reader030/viewer/2022032612/56649eb55503460f94bbe04f/html5/thumbnails/27.jpg)
Checking EFPs using Query
• Reminder that you can also use the queries to validate EFPs (recommend using pivot tables with download to Excel)– UMB_CA_EFP_BY_EMPL_ID– UMB_CA_EFP_BY_DEPT_ID
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Questions?
• Please contact FS-Payroll if you have questions regarding this process– Phone: 6-1243– E-mail: