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Transcript of Presenters:Budget Office Business & Financial Services Financial Systems Services Payroll Sponsored...
FY 2009 Year End Training
May 12, 2009Presenters:Budget Office
Business & Financial Services
Financial Systems Services
Payroll
Sponsored Programs
A day in the life….
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Goals
Learn about closing the University financial records
See some faces involved in the process
Answer your questions
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Why Do We Do This?Or – “The BIG Picture”
Financial StatementsState of Colorado, Colorado State University
System and Colorado State University Who reviews our statements and why?
Financial Statement Accuracy
Accrual Basis of Accounting a.k.a. recognizing revenue when earned and expenses when incurred
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Changes for FY 2009
FRS is going away. It will remain open to close FY09, but any reversing entries will be made in KUALI.
There are no significant changes to closing instructions for this year.
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FRS is Going Away
What has happened during this time?
1990- Albert Yates was named the 12th
president of Colorado State University
1991 - Thomas Sutherland was released after
being held for six years as a political
prisoner
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FRS is Going Away
What has happened during this time?
1992- The TABOR (Taxpayers Bill Of Rights)
Amendment becomes law
1997- On July 28 Colorado State University
incurred heavy losses to buildings and
equipment from sheet water damage
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FRS is Going Away
What has happened during this time?
1999- Colorado State University breaks from
the Western Athletic Conference and
forms the Mountain West Conference
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FRS is Going AwayWhat has happened during this time?
2003- Dr. Larry Penley is named the 13th president
at Colorado State University
The State Board of Agriculture is renamed the
Board of Governors of the Colorado State
University System.
USC becomes CSU-Pueblo and Fort Lewis
College separates from the CSU System.15
FRS is Going Away
What has happened during this time?
- 2008 – CSU Global Campus opens enrollment
- Research expenditures top $300 million
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Budget News
New departments or re-mapping of existing accounts to a different department
Deadline – June 8, 4:00 p.m.
Designated Future Commitments (DFCs)Deadline – June 15, 4:00 p.m.
New accounts needed to support new year staffing processDeadline – June 19, 4:00 p.m.
Budget Change Requests (BCR)Deadline – July 6, 4:00 p.m.
Budget NewsCurrent carryforward policy is:
Up to 1.5% of unexpended year-end balances may be carried forward to the new fiscal year. The 1.5% limit applies to:
Combined 13 and 16 fundsProfessional Veterinary Medicine (14 fund)Agricultural Experiment Station (15 fund)CSU Extension (17 fund) Colorado State Forest Service (19 fund)
Funds in excess of the carryforward limit will be swept centrally unless approved exceptions are granted.
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Budget NewsDesignated Future Commitments (DFCs) for specific purposes, such as; faculty start ups, large equipment purchases, renovations and/or multi-year projects.
The Carryforward & Designated Future Commitments Policy and Process, and DFC request form are posted on the Office of Budgets Web site.
DFC Submission Request Deadline: June 15, 2009
DFC requests should be submitted to [email protected] and will be reviewed for approval by the Cabinet Finance Subcommittee.
Please review the posted policy and request form at www.budgets.colostate.edu
Accounts Payable & Central Receiving Contacts
Dan Kelso [email protected] on PO’s
Bob Loosley 491-6513General Accounts Payable Questions
Jackie Riba 491-1363AFE/PO Questions
Terri Bedan 491-6021Travel Questions
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Accounts Payable Staff Parvin Naysary 491-5019
Vendors B-F and Petty Cash Jeff Fotsch 491-1373
Vendors G-O, General Air, Metrocall, 77funds Cherie Akin 491-1372
Vendors A, P-Z, Telecomm Beth Fritzler 491-2097
Payments to Individuals and reimbursements Tricia Cochran 491-1429
Mail/ Vendoring Connie Cooley 491-1362
Travel payments
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Why do we do this in Accounts Payable?
Liability on the Balance Sheet
Expenses incurred but not paid by June 30
Expenses incurred if goods or services were received by June 30
Payable entry recorded in batch YAPnnn
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Why do we do this in Accounts Payable?
College Business Officers will receive a listing of outstanding POs and AFEs during June
Accounts Payable will review documents paid after year end to determine if an accrual adjustment is necessary
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What’s on my report?
FY 2009 – payable entry (this is an estimate)We charge/debit your account (YAP batch). Should occur the night of July 2nd.
FY 2010 – reverse payable entry and pay vendor1. We credit your account2. We pay the vendor and charge your account
again
Net effect of FY 2010 entries is zero (or close to zero)
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Authorization for Expenditures (AFE’s) Fully routed and approved in SciQuest
prior to June 30, 4:00 p.m.
üpayable entry will charge your account for the unpaid balance on the AFE
Contact Accounts Payable in advance for known discrepancies
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Purchase Orders (PO’s) -- Charged to FY 2009 Service & Maintenance POs (P3xxxxx)
ü payable entry will charge your account for regular/cyclical (monthly, quarterly) payments as can be determined by Accounts Payable
Open POs (P9xxxxx) for invoices received by June 30ü usually no payable entry
Other POs (P1xxxxx & P8xxxxx) ü payable entry will charge your account if goods
were received by June 30
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SciQuest Purchase Orders
SciQuest purchase requisitions/orders post encumbrance into FRS on the evening final approval is made in SciQuest.
G type purchase orders – orders shipped and charged by vendor on or before June 30th are recorded in 2009. Plan purchases to allow time for vendors to process to ensure transactions are recorded in FY2009.
S type purchase orders – charged to FY2009 if goods are received and invoice is sent to Accounts Payable by 4 p.m. on June 30th.
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Purchase Orders – Other Issues Contact Accounts Payable in advance
for known discrepancies
Orders over $5,000 with multiple line items will not automatically be received.
If you receive PO goods or services directly, notify Dan Kelso by June 30, 4:00pm.
Receiving status can be reviewed on FRS screens 228 or 239.
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Travel Submit Travel vouchers with an end trip date of June 30th or prior by
July 2, 4:00 pm to be expended in FY 2009 This is especially important for travel on 5-3 accounts with a June
30, 2009 project end date “Ghost Card” Airline tickets must be ordered in time to hit the June
“Ghost Card” statement. Statement cut off is June 20th. We recommend ordering the ticket on or before June 15th to insure the Travel Agency can process in time for the June statement.
Post Trip Travel Vouchers with travel advances where the traveler owes CSU must have the deposit processed to the correct fiscal year in order for the rest of the expenses to be charged appropriately.
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Accounts Payable Issues - ACARD ACARD
üCharged according to the day JPMorgan Chase posts the transaction
üTransactions received by July 2, 6:00 p.m. with a transaction date prior to June 30, will be charged to FY 2009
üTransactions not reallocated by July 6, 6:00 p.m. will be charged to the default account in FY 2009
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Accounts Payable Issues - ACARD Do not count on ACARD purchases that
are made in late June to hit FY 2009. CSU is dependent upon the vendors to process your transactions through the banking system in a timely manner. We cannot control when these transactions will occur and we do not accrue for “late” ACARD transactions. All transactions processed thru the banking system after July 2 will be processed to FY 2010.
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Payroll Issues Final FY 2009 Hourly Timesheets
Pay Period Ending June 19 (Payday July 2)Due June 23, 12:00 noon
Clear Salary Clearing Accounts (5394xx)Due June 30, 3:00 p.m.ü No salary may post to Salary Clearing Accts in June
Final FY 2009 Labor RedistributionsDue July 6, 3:00 p.m.
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Payday Shift from June to July June 19th hourly payroll pay period
ending June 5th, paid on July 1st
June 30th salary payroll paid on July 1st
July 3rd hourly payroll pay period ending
June 19th, paid on July 2nd
ü Please notify/remind your employees
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Accounts Receivable Operations Contacts
Trish Torrez 491-6661
Janet Fox 491-6663
ü TWARBUS and ARIES Billing System entries
ü Department Payment to Student Account (DPSA)
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Accounts Receivable Operations Issues - ARIES Billing System
Paper Documents (except DPSAs)
Due June 19, 4:00 p.m.
ü Load Sheets
Electronic Uploads to ARIES Billing System
Due June 26, 5:00 p.m.
ü Allow an extra day for new customers
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Accounts Receivable Operations IssuesDepartment Payment to Student Accounts DPSA’s Uses
ü Graduate Assistant Tuition Paymentsü Discretionary Scholarshipsü Fellowship/Sponsor Designated Scholarships
(53 & 99 funds only)
Unapproved DPSA’s - Due June 19, 4:00 p.m. in Account Receivable Operations
Approved/routed DPSA’s - Due June 26, 4:00 p.m. in Accounts Receivable Operations
Remember to review the HB1023 requirement. The box on the DPSA form must be checked to process.
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Bursar/Cashier Contacts
Bursar’s Office – Howes Street Brian Grube 491-6633
Cashier’s Office – Lory Student Center Becky Everett 491-0597
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Bursar/Cashier Issues
Departmental Deposits created in June 30, 1:00 p.m.
Checks/Cash to Cashiers OfficeJune 30, 2:00 p.m.
Please do not accumulate receipts for one final deposit!
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Petty Ca$h & Change Funds Return Fund Confirmations by July 1st
ü Attach Custodian Change Form to Confirmations
ü Use “Change in Fund Custodian” form found at
busfin.colostate.edu/forms.aspx, under Treasury
Reimburse Petty Cash funds before Year-End by having approved AFE completed by June 30, 4:00 p.m.
Reduce/close funds no longer needed
ü Use “Change in the Amount of the Fund” form found at
busfin.colostate.edu/forms.aspx, under Treasury47
Campus Services Contacts Valerie Monahan 491-3001
Natural Sciences, VP Research, Colorado State Forest Service, External Audit Contact, F&A/Cost issues
Heidi Barclay 491-4148Applied Human Sciences, Veterinary Medicine, Liberal Arts, VP Advancement & Strategic Initiatives, External Audit Assistance
Janice Inman 491-6752VP Student Affairs, Auxiliaries, Athletics,
David Leathers 491-5509Engineering, Campus Service Projects
Laura Streit 491-7099Board of Governors, President’s Office, Provost, VP Offices, Library,Agricultural Sciences (Agricultural Experiment Station), Business College
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Consumable Inventories, Why do we do this?
Balance Sheet Asset / External Audit
Year End Inventory Count
Inventories< $100,000 counted every other year>= $100,000 counted yearly
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Consumable Inventories
Inventories counted on or before June 30, adjust to actual as of June 30
Inventory certificates
Due July 1, 12:00 noon
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Fund ReceivablesDepartments that do not use the Banner ARIES System
will need to record their receivables using the CIS System.
Please send your Campus Services representative a copy of the Accounts Receivable aging report and reconciliation.
All revenue earned, but not billed in FY09 needs to be recorded in FY09 – Accrual Basis of Accounting
View the PDI on Accrual Accounting out on the BFS Web site
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Account Balances at June 30th
Credit Card Clearingü Subcode 5650 must have a $0 balance
ü All clearing entries need to be input by July 7, 12:00 noon
Gift Funds- no deficits
AEP (18 funds)- no deficits
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Account Attributes Changes to account attributes (account title,
responsible person, etc)Due June 19, 4:00 p.m. to Campus Services
Accounts no longer needed should be zeroed out and deletedDue June 19, 4:00 p.m. to Campus Services
New accounts- Due June 19, 4:00 p.m. to Campus Services
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Journal Entry Issues
Final journal entries to all accounts including departmental approvals, due July 7, 12:00 noon
Information on journal entry documentation requirements is available on the main B&FS website
Backup documentation for all Journal Entries must be maintained and be readily available for external audit inquiries during the months of August and September.
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Financial Reporting & Analysis Contacts
Associate Controller Gail Michaud 491-7134
Financial Reporting Sally Tschirhart 491-2423 Sheree MacNaughton 491-6693 Jennifer Pollman 491-2178 Sue VanderVliet 491-6750
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Property & Plant ContactsProperty Theresa Todd 491-1428
Debra Ellison 491-2270
Mack Freestone491-1358
Jennifer Kahrs 491-1045
Plant Funds Chrystal Gates 491-6242
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FRS/CIS Management Contacts
Troy Fluharty 491-6694
Joe Sparks 491-2899
Connie MacNaughton 491-2099
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FRS Reports Run Friday nights of June 12, 19, 26 and
July 2, 7, 24
Final run – July 24
Reports available on next day - midday
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FRS On-Line Access
Input access for FY 2009 will terminate on July 6, 7:00 p.m.
Use your regular operator number for FY2009 inquiries.
Always use your regular operator # on
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FRS Data Warehouse Tables
FY 2009 data will move from the previous month tables to the history year tables the night of July 24
FY 2010 ODS warehouse tables updated daily (M-F) starting June 30
FY 2007 transactions will be deleted from the data warehouse on June 29
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FY09 “Delphi” = FY10 ODS
FRS Data Warehouse Tables
FY 2009 data warehouse tables updated daily (M-F) through July 24
FY 2009 data will move from the current month tables to the previous month tables the night of June 30
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FY09 “Delphi” = FY10 ODS
June Dates & DeadlinesThe number of the slide appears in parentheses
June 8 New departments identified to Budget Office (20)
June 12/19/26 FBM092 reports for campus (60)
June 19 A/R paper documents & unapproved DPSAs to Accts Receivable
(42,43)
June 19 New account requests submitted to support new year staffing
(20)
June 19 Changes to account attributes (54)
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June Dates & DeadlinesThe number of the slide appears in parentheses
June 19 Closeout accounts no longer needed (54)
June 23 Hourly Timesheets Pay Period Ending June 19 (37)
June 26 Approved DPSAs to Accounts Receivable (43)
June 26 Electronic Uploads to ARIES (42)
June 30 Closeout 530xxx State Project accounts that have a June 30, 2009 end date (71)
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June 30 DeadlinesThe number of the slide appears in parentheses
Inventories counted (51)
CASHNet deposits created/delivered to Cashiers (46)
AFE created and approved (29)
Receiving on POs (32)
FY 2009 Data Warehouse, current month tables move to previous month tables (63)
FBM092 reports for campus (60)66
July Dates & DeadlinesThe number of the slide appears in parentheses
July 1 Petty Cash Confirmations (47)
July 1 Inventory Certificates (51)
July 2 Travel documents (33)
July 6 Budget Change Requests (BCRs) (20)
July 6 Direct online FRS input (61)
July 6 Campus FRS online access turned off(61) 67
July Dates & DeadlinesThe number of the slide appears in parentheses
July 6 Final Labor Redistributions (38)
July 6 Acard reallocations (34)
July 7 CIS journal entries (55)
July 7 FBM092 reports for campus (60)
July 24 Final FY 2009 FBM092 reports for campus (60)
July 24 Final FY 2009 Data Warehouse ables updated (63) 68
Sponsored Programs Contacts Richard Batman 491-4637
Applied Human Sciences; Business; Liberal Arts; Natural Sciences; VP for Student Affairs; Atmospheric Science
Cliff Choury 491-0440 Agricultural Sciences; Ag Experiment Station; Research Centers; CSU Extension; VP for Administration
Carol Cody 491-1562Engineering - except Atmospheric Science
Clint McBlair 491-4038 Salary Clearing; Over Expenditures; 5-3 Sweep (fixed price projects only); 64 Accounts; 88 Accounts; Cost Share Accounts; Special Issues
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Sponsored Programs Contacts
Dawn Sharkey 491-4867Warner College of Natural Resources
Judi Wadman 491-3599Provost/Academic Administration; Veterinary Medicine; VP for Research; Colorado State Forest Service
Rhonda Wolschlager 491-3391 (WCNR) Warner College of Natural Resources – CEMML
491-3503 (OSP)Veterinary Medicine - Clinical Sciences & Biomedical Science
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Sponsored Program Issues
Zero out Salary Clearing Accounts (5394xx)
ü PPDAs to clear any remaining balances are
due to SP by June 30, 12:00 noon.
ü No salary, including hourly, may post to
Salary Clearing Accts in June
Final journal entries to all accounts including departmental approvals, due to SP by July 7, 12:00 noon
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Sponsored Program IssuesState of Colorado Agency ProjectsEnding June 30, 2009 (530002 - 530799)
There is only one opportunity to submit an invoice to the State of
Colorado. No revised invoices will be accepted.
Deadline: June 30, 4:00 p.m.
ü Notify your SP Acct Tech of any unpaid invoices or un-posted expenses (e.g ACARD, hourly payroll, Motor Pool, Mail, Telecom Charges, Travel) that must be billed to the sponsor, so payables can be set up.
ü All goods and services must be received by COB 6/30/09.
ü All encumbrances must be cleared.
All unspent budget funds revert back to the sponsor as of June 30, 2009.
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Over Expenditures on 5-3 Accounts
At year end, Sponsored Programs pulls weekly reports for overspent accounts on June 15, 22, 29, and July 6. Reports will be sent to the College Business Officers to aid in clearing account deficits prior to year end.
CAUTION: An account may not be overspent on July 6, so it will not appear on the over expenditure list generated that day. However, when indirect cost posts the night of July 7th, it may cause the account to go over budget. The over expenditure entries – subcode 5680 – that hit the designated college 13 or 16 accounts at year end will not be reversed.
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Gift Fund Issues
Account Range 643000-649999 (64 fund)
By June 29 all deficits must be cleared from 64 funds. Accounts must have positive cash or $0 balance!
Fund transfer request forms due by June 19
All 64 fund balances roll forward to FY 201074
Web Sites Accts Receivable Operations Student
Payment Processing http://www.colostate.edu/Depts/BusFin/qg.html
Business & Financial Serviceshttp://www.colostate.edu/Depts/BusFin/
Financial Procedures Manual
http://www.colostate.edu/Depts/BusFin/fpi.html Inventory Forms
http://www.colostate.edu/forms.aspx
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Web Sites
Property Management
http://www.colostate.edu/Depts/BusFin/prp.html
Purchasing
http://www.purchasing.colostate.edu/
Sponsored Programs
http://web.research.colostate.edu/osp/
Year-End Information http://www.colostate.edu/Depts/BusFin/ye.html
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