The University of Montana - PowerPoint Presentation

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The University of Montana

FYE 2014 BriefingMay 22, 2014Business Services

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AgendaIntroductions

Office for Planning, Budgeting & Analysis (OPBA)Payroll processing Schedule/HighlightsPayroll Redistribution Dates

Campus Cutoff Schedule

Feed File Schedule

Procedure Highlights

Break

JV Reminders

Tips & Tools for Monitoring Balances

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Business Services Contact ListAccounting Services

Dan Jenko, Assistant Director Ext 5530Tara Scott, Financial Manager Ext 5802Melissa Reimann, Accountant/Capital Assets Ext 6628Luanne Felstet, Accountant Ext 2499

Barb Bybee, Accountant Ext 6261

Geoffrey Lake, Campus Operations Coordinator Ext 6006

Accounting Services Fax # Ext 4929

Accounts Payable/Procurement

Kay Lamphiear, A/P Manager Ext 4935

Ian Robbins, Director of Procurement Ext 2204

Systems

Scott Klanecky, Finance Systems Manager Ext 5558

Frank Grady, Banner Finance Production Manager Ext 2940

Treasury Services

Betty Davis Ext 4320

Management

John McCormick, Interim Director Ext 2532

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OPBA Contact List

Dawn Ressel, Associate VP for University Planning, Budgeting and Analysis

dawn.ressel@umontana.eduExt. 5661Ed Wingard, Budget Directored.wingard@umontana.eduExt. 4775

Debbie Morlock, Budget Analyst

debbie.morlock@umontana.edu

Ext. 4791

Pope Ashworth, Research & Budget Analyst

pope.ashworth@umontana.edu

Ext. 5661

Kim Rudolph, Budget Analyst

kim.rudolph@umontana.edu

Ext. 5647

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General Funds

Negative available balancesNegative personnel services balances

Correct negative balances by submitting a budget change or moving expenses out to another Index Code or Fund (if appropriate) Ensure Appropriate Account Codes are Used for all Expenditures*(Remember to consider benefits when correcting negative personnel balances.)

Reports to use to monitor results:

UMDW Operating Statements #1 or #2

UMDW Payroll Reports #6 or #7

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EXAMPLE

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EXAMPLE

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EXAMPLE

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Designated/Auxiliary

Negative fund balances

Consider impact of year end results on FY15 plans and budgets – submit a plan amendment if necessaryExpense should not significantly exceed the FY14 fiscal year budgetSubmit budget changes as needed

Report to use to monitor results:

UMDW Operating Statement #7 (shows current fund balance)

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General Funds/Designated/Auxiliary6/13/14 (Friday) – Last day to submit routine/temporary budget changes

*Remember RBC’s need to be signed by your Vice President

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Fiscal Year End - PayrollFor questions please contact:Shelley Hiniker: 243-6634

Shelley.Hiniker@umontana.eduAndrea Scheuering: 243-5199Andrea.Scheuering@umontana.edu*For Redistributions please contact your Fund or Grant Accountant.

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BW & MO Payroll

BW 14 online entry GTO is open June 20th. to June 24th.

Do not send RPT’s with the Monthly

rosters

Submit RPT’s by June 13

th

if you would like them to display on the BW 14

GTO

BW 14 will post July 2

nd

.

BW 13, BW 14 & MO 7 Health Insurance will be FY2015 expense - $

887.00/month

BW 15 will expense in total at the department level for

FY15

MO 7 will post July 1

st

.

New Rate Changes for FY2015.

Unemployment .45% (subject to change)

PERS 8.27%

TRS 10.95

TIAA-CREF 10.676

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SP Payroll

SP 13 will open June 19th and will close at 5:00 p.m. on June 23rd.SP 14 will open July 2

nd

and will close at 5:00 p.m. on July 7

th

.

SP 14 – pay cycle from June 19 – July 1 will pay on July 15

th

– this will be an

FY15

department level expense

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Payroll - Miscellaneous

Redistribution Schedule –May transactions – June 10th.June transactions – July 8th.

Redistributions into State/General fund

indexes from other funding sources (such as

designated, auxiliary etc.) will be reviewed by

the Office of Planning, Budget and Analysis.

Sufficient budget authority, for both wages and

benefits, must be in place for these to occur.

Manual Checks – due to the Fiscal Year End

Cash Closing process – there will be no manual

checks processed from June 23

rd

. to July 1.

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Payroll Processing

PAY ID

PAY PERIOD DATES

CHECK DATE

BANNER INTERFACE DATE

ENCUMBRANCE RELEASE DATE

NHIDIST LOAD DATES

COMMENTS

MO7

6/1/2014

-

6/30/2014

7/01/2014

7/01/2014

6/30/2014

06/30/2014

Prepaid Insurance

FY2015

MS7

5/19/2014

-

6/18/2014

7/01/2014

7/01/2014

6/30/2014

06/27/2014

 

SP13

6/02/2014 – 6/18/2014

7/01/2014

7/01/2014

6/30/2014

06/27/2014

 

SP14

6/19/2014

-

7/1/2014

7/15/2014

7/15/2014

07/11/2014

FY2015

BW13

5/25/2014

-

6/07/2014

6/18/2014

6/18/2014

6/18/2014

06/13/2014

Prepaid Insurance

FY2015

BW14

6/08/2014- 6/21/2014

7/02/2014

7/02/2014

06/30/2014

06/30/2014

Prepaid Insurance

FY2015

BW15

6/22/2014 – 7/05/2014

7/16/2014

7/16/2014

07/11/2014

FY2015

SPECIAL

 

7/15/2014

7/15/2015

07/11/2014

FY2015

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FYE Payroll Redistributions

Procedures & formPayroll Redistributions are for corrections to the funding sources. These cannot be processed using a journal voucher.Deadlines90 Day Rule – If you are processing a redistribution that has a history date of greater than 90 days you must include an exception memo which will be approved by the Director of Business Services or his assignee.

Grants and Contracts must adhere to ORSP policy and procedures.

BW14 Timing Issues

Review your GTO reports carefully upon completion. If there is an error – contact your HRA immediately before it completes. For FY14 this would be 2:00 pm 6/24/14.

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Payroll Redistribution Formhttp://www.umt.edu/bussrvcs/Employees/Forms.aspx

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Payroll Redistribution Deadlines

Deadlines to have requests to Business Services… 6/10/14 – May (due by 3:00 PM) 7/8/14 – June (due by 12:00 PM)

Payroll Redistributions for BW14 will not be allowed

Reminder: all requests for redistribution need to be processed through your Fund Accountant or your Grant Accountant, not through the Payroll Office

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FYE 14 Websitehttp://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx

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Campus Cutoff Schedulehttp://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx

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Feed File ScheduleDue by July 10

th at 3:00 PM

Facilities Services (work orders and postage)

Network port charges

Fixed phone charges

Long distance charges

UC Admin charges

Dining Services invoices

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Accounts Payable Critical DatesJune 13

Procard purchases for FY14 should be completed to ensure FY14 posting.June13 Warrant Cancellations to AP.June 24

5:00 Normal Check Run – checks to be issued and mailed June 25.

June 27

5:00

Procard Redistribution for June

(Cycle 12 - thru 6/21).

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A/P Critical Dates(CONT.)

July 1 All travel, entertainment, check requests, all “Paper Requests” need to be sent to A/P for FY14 processing. Costco Receipts to A/P for FY14 Processing.

July 2

5:00

A/P check run. Checks to be issued and mailed July 3.

July 7

5:00 Second Procard Redistribution for June

(Cycle 13 – 6/22 thru 6/30)

(Use feed date of 6/29)

July

9

5:00 Final AP check run for FY14. Checks to be issued and mailed July 10.

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July 10 12:00 Direct pay processing for

FY14 ENDS. Invoices must be completed and approved prior to 12:00. Items received by 6/30/14 must be entered and completed with a June 30 transaction date.July 11

No Department / Affiliate Banner or

GrizMart

processing.

July

14

FY15

Opens – Reminder:

NO FY15 invoices can be processed

until

now unless processed as Prepay Invoice.

Reminder: July

1-10

use transaction date of

6/30/14

in both

GrizMart

and Banner for

FY14

processing

.

A/P Critical Dates

(CONT.)

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Other Critical Dates

7/11 FY14 Period 12 closes at 5:00 PM 7/12 “GL and Encumbrance Roll” to FY15 7/14 Period 12 Reports available thru

UMDW

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FY14 July 14

Invoice Processing ResumesJournal Voucher Entry Reverse EntriesAutomated, prior to July Month End closing

Pre-Pay and Deferred Revenue, prior to July Month End closing

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Accounting Procedure UpdatesPrepaid Expenses

Miscellaneous Accounts ReceivableDeferred RevenueAccrued Expenses

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Prepaid ExpensesDefinitions:

Prepaid expenses are items over $500.00 that are paid during the current fiscal year, but are an actual cost for the next fiscal year. All items or services must be received or provided after

June 30, 2014 to be considered a prepaid expense.

These expenses are recognized as an

asset

(prepaid) in the current fiscal year and as an expense in the next fiscal year.

This process is not applicable to Grants.

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Prepaid Expenses

Examples of Prepaid Expenses:Prepaid service contracts or software licenses (under $100,000) for next fiscal year (these can be split between 2 years)

Subscriptions or membership fees for next fiscal year (these can be split between 2 years)

Expenditure transactions which are matched to deferred revenue (ie: summer session revenue)

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Prepaid Checklist

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Prepaid Expenses(Continued)

Updates/Reminders: *REMEMBER* - use the activity code PREPAY in GrizMart

for non-PO payments or requisitions or meal per diems entered through

GrizMart

*REMEMBER*

- you can code

ProCard

charges directly to Prepaid account 1905

Make sure to get supporting documentation to Barb Bybee (ext 6261) before noon on Friday, 7/11/14

Review procedure: Prepaid Procedures

http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx

http://www.umt.edu/grizmart/GrizMart%20FAQs.php#FAQ31

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Miscellaneous Receivables

The University does not record all accounts receivable in its centralized accounts receivable system, this information must be provided to Business Services. It is the

department’s responsibility

to report

the correct receivables and maintain and

forward to Business Services the backup support

for the receivables reported.

This applies to receivables that are not recorded

in Banner and are owed by off-campus entities.

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Miscellaneous Receivables(Continued)

Updates/Reminders: No procedure changes from last year Individual receivables greater than or equal to $25,000

require

dean or director approval

Make sure to get supporting documentation in to

Geoff Lake by noon Monday, 7/7/14

Review procedure: Miscellaneous Accounts Receivable

http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx

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Deferred Revenue

DEFINITION:Deferred revenue is revenue collected in the current fiscal year for services provided in the next fiscal year. This revenue is reported as a liability on the current year’s balance sheet and as revenue in the next fiscal year.Departments that record deferred revenue include, but are not limited to:

Continuing Education

Bio Station

Dining Services

Athletics

Campus Recreation

Residence Life

*Note: Summer session tuition and fees collected prior to July 1

st

are also

recorded as deferred revenue per Montana University System policy.

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Deferred Revenue(continued)

Procedures: Banner Online Departmental Deposit Form Preparation For ease of processing deposits, please use a separate

deposit card for deferred revenue transactions

Deferred revenue

must

be recorded with an

activity code

.

Find the current activity code list on the link below. Please

contact your Fund Accountant if a new activity code needs to

be established. The activity code is the revenue account code with the ‘5’ replaced by an ‘R’ (ie; 50404 – Campus Recreation Trip Fee income activity code would be R0404)

Balance Sheet account number is 2505 – Deferred Revenue

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Deferred Revenue(Continued)

Updates/Reminders: No procedure changes from last year Deadline is same for cash receipt cards (6/27/14)

Be sure to send backup to

Luanne Felstet (ext 2499) and contact her with any questions

Review procedure and forms: Deferred Revenue

http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx

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Expenditure Accruals

Expenditures must be recognized in the accounting year incurred, which creates the necessity for recording expenditure accruals for valid obligations incurred but unpaid as of the end of the fiscal year. Departments must submit requests for expenditure accruals to Business Services on or before the date posted on the Fiscal Year End Critical Cutoff

The following information along with the backup documentation must be provided to Business Services:

Identify type of accrual – ‘A’ accrual or ‘B’ accrual

Explanation and supporting documentation

Identify vendor (if vendor is another state agency, special accrual accounting is required)

Department contact person and phone number

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Expenditure Accruals (Continued)

“A” AccrualsThese are for State Funds OnlyFor Valid open orders of goods/services received After June 30th“B” AccrualsThese are for All Funds including State FundsValid open orders on goods/services received on or Before

June 30

th

, but have not yet been paid.

Note:

Accruals over $25,000 must include backup documentation and will need approval by the Director of Business Services.

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Expenditure Accruals(Continued)

Updates/Reminders:Only items $500.00 or more will be accruedRemember * An accrual may be necessary for

Procard

purchases made during the last days of June

(after 6/21/14)

if the vendor does not process them in a timely manner

Make sure to get supporting documentation in to Tara Scott (ext 5802) before 4pm on Thursday,

7/10/14

Review online accrual procedures

http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx

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Decision Trees

Prepaid Expenses

Am I paying for goods or services prior to 6/30/2014 that are >$500 and relate to next year? ie. Paying for maintenance agreement in June for FY15.

Is this a non-PO payment or requisition Am I using my

ProCard

?

or meal per diem through

GrizMart

?

If yes—when initiating the purchase in If yes – use account code 1905 and

GrizMart

use expense code and provide back-up to Barb Bybee in

activity code PREPAY. Business Services.

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Decision Trees(Continued) Miscellaneous Accounts Receivable

Have I provided goods or services prior to 6/30/2014, but have not received payment by 6/30/2014 and have not recorded the receivable in Banner? If all of above conditions are met—complete the form on the Business Services website for Miscellaneous Receivables. Send the completed form to Geoff Lake. With the form, send an invoice or statement as supporting documentation. For amounts > $25,000 have your Dean or Director sign the form.

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Decision Trees(continued)Deferred Revenue

Have I collected funds for activities that will occur on or after July 1, 2014? If yes—when completing the deposit card, use account code 2505 with the activity codes established for deferred revenue. The activity codes are listed on the Business Services web-site.

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Decision Trees(Continued)A-AccrualsWill I receive goods or services AFTER 6/30/2014, that will be paid after 6/30/2014, from a

State fund and are > $500? If yes—notify Tara Scott in accounting by sending either a Purchase Order copy or a signed contract that has been initiated by 6/30/2014.

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Decision Trees(Continued)B-AccrualsHave I received goods or services BEFORE 6/30/2014 that will be paid after 6/30/2014 and invoice is > $500?

If yes—Notify Tara Scott in accounting by sending either an invoice, packing slip or a signed contract.

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10 MIN BREAK

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UM FOUNDATION

Fiscal Year End Procedures for UM FoundationPayments to UMWithdrawal Requests to Foundation Offices by Tuesday, June 24th

for last ACH payment

on Thursday, June 26

th

NO

advances

to index

codes - transfer

has to be for actual expenses

incurred

Exception will be made for reimbursements for June payroll expense. Expense will be an advance and will need to be cleared with June Banner report as soon as June payroll is processed

All other fiscal year

2014

expenses

Withdrawal requests to Foundation Offices by July

18

th

Clear outstanding advances by June

27

Any outstanding advance over the fiscal year-end needs an explanation as to why it’s still outstanding

Exception for June payroll reimbursements. Expense will be cleared in fiscal year

2014

with June Banner

report

Questions

Contact Jamie Stanton at 4788

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Helpful TipsEnter JVs that post within your department (JD1 & JD2)This will help with faster processing

Please reference the Banner document number in your JV document textPlease monitor all deadlines and notify Business Services right away if unable to meet a deadlinePlease monitor your accounts and get your requests in to the Foundation for Gift accounts by June 24th Contact the appropriate service area with questions (Accounts Payable, Procurement, Accounting, Systems)Dates on JV’s are critical; Please specify which FY you would like to post. Please print name and phone extension on JV’s you send over to Business Services.

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Tools for Monitoring FYE Activity

Banner FinanceJGIBDST – Org Budget StatusFGITBSR – Trial Balance SummaryUMDW

Operating Statement

Trial Balance

Payroll

UMDW Contact: Business Services Systems Bob Hlynosky Ext 2494

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Banner JGIBDST

Enter Index, Fund or Orgn and FY on Banner form JGIBDST

Banner nets total revenues less total expenses

EXAMPLE

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Banner Drill-Downs & User ID SearchesTo see the transactions for a specific account in JGIBDST, select options and Transaction Detail (JGITRND)

EXAMPLE

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Banner Drill-Downs & User ID Searches (Continued)JGITRND

Here are all the transactions for account 62280

EXAMPLE

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Banner Drill-Downs & User ID Searches (Continued)How do I found out who entered my document (J0288872)?

When searching on JGITNRD, use the bottom scroll bar find the user ID field.

EXAMPLE

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Banner Drill-Downs & User ID Searches (Continued)

JGITRNDTo find the highlighted document, select options & Query Document (By Type)

EXAMPLE

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Banner Drill-Downs & User ID Searches (Continued)

When document number comes up; hit control page down.FGIDOCR shows the transaction lines that were entered for the document selected.

EXAMPLE

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Banner FGITBSR

Enter Fund and FY on Banner form FGITBSR

EXAMPLE

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Banner Drill-Downs & User ID Searches (Continued)Other forms for finding user ID:

FOIAPPH – will show the document approver(s) as well as the originating user for most transactions. Feed documents list only Systems Banner users because they perform the final upload.

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Banner Drill-Downs & User ID Searches (Continued)JGIDOCR – Click on the document look-up button

Enter a query on the new form (JGQDOCN) for the selected document (J0288872) to see the User ID

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Banner Drill-Downs & User ID Searches (Continued)

To identify the person associated with the User ID, go to FOMPROF and query on the user ID

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UMDW Operating Statement

Enter your Index, Fund, or Orgn Keep the default Fiscal year as FY14

Run Operating Report #2 for State Accounts and

Operating Report #2 or #7 for Non-State Accounts (includes fund balance)

EXAMPLE

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UMDW Results

EXAMPLE

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UMDW Trial Balance

Enter Fund Keep default fiscal year as FY14 Run General Report #1 Trial Balance

EXAMPLE

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UMDW Results

EXAMPLE

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UMDW PayrollEnter Index, Fund or

OrgnEnter Acct Types 61,62,63 for the Wages and Salaries onlyKeep the default Fiscal Year 14

Run Payroll Report #7

EXAMPLE

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UMDW Results

EXAMPLE

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Questions?

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FYE 2014 Briefing

Thanks for Coming!