Finance Orientation Module B. December 3, 2014

Transcription

1 Finance Orientatin Mdule B December 3, 2014

2 1 Intrductins MODULE B Prcurement Services Accunts Payable Treasury Services

3 2 Cathy Wd VP Finance and Treasurer Administrative Staff: Carl Evans & Sarah Meyers Rsie Hendersn Interim Cntrller & Asst. Treasurer General Accunting Accunts Payable Tax Spnsred Accunting Treasury Services Debbie Jacksn Senir Directr f Strategic Prcurement and Cntracting Prcurement Services Matt McNally Chief Infrmatin Officer Jerry Cnrad Assciate VP Facilities Operatins Maureen Brkbank Assciate VP f Human Resurces Brian Jhnstn Assciate VP Institutinal Research & Assessment Budget Office

4 Strategic Surcing & Prcurement 3

5 4 What We D: Serve as central prcurement authrity fr CUA Assist departments with all f their prduct and services needs Ensures cmpliance f plicies & prcedures Facilitate the cmpetitive bid prcess Manage the Pcard prgrams Administratin f CUA peratinal cntract agreements Prper vetting f vendrs; handle vendr relatinships & identificatin f preferred vendrs Cntract review and negtiatins Crdinatin f required internal resurces/crss-functinal areas Strategic surcing Hw We D It: Prcess all requisitins in PepleSft Ensure required dcumentatin is cllected, reviewed & analyzed, i.e. ICA s; Justificatin; Bids; T s & C s. All vendr applicatin and invices are frwarded t Accunts Payable fr prcessing Prvide peratinal assistance t departments, i.e. answer questins & give guidance Meet with vendrs & establish relatinships Administer the RFI, RFP, RFQ prcess Negtiate n behalf f CUA Administratr fr the Pcard prgrams-answer questins, mnitr transactin activities, etc. Standardizatin Cmmittee Identify cntinuus imprvement pprtunities Crdinate with all departments as needed

6 5 Prcurement Plicy Cntract Apprval & Signature Authrity Prcurement Card Plicy Crprate Travel Card Plicy Prhibited Transactin Plicy

7 6 Prcurement Card (Pcard): A methd fr prcuring, paying gds and limited types f services under $2, Purchase Requisitin: is a precise dcument generated by an internal rganizatin t ntify the Prcurement Services ffice f items it needs t rder, their quantity, and the time frame. Once it passes budget check gives authrizatin t prceed with the purchase. Purchase rder: is a cmmercial dcument issued by the buyer (CUA) t a seller, indicating the type, quantities and agreed prices fr prducts r services. Sending a PO t a supplier cnstitutes a legal ffer t buy. Purchase Orders are issued with standard terms and cnditins. Cntract: an agreement entered int vluntarily by tw parties r mre with the intentin f creating a legal bligatin. The cntract captures negtiated terms & cnditins, and cvers the ffer, acceptances and cnsideratins.

8 7 Prcurement card (Prcard/Pcard): Shared respnsibility n Cardhlder and Manager Electrnic prcess: Lg int ESP (Enterprise Spend Platfrm) Cding and apprving transactins nline Scanning and attaching receipts Cmplete all requirement within alltted timeframe ten (10) days f the transactin psted date Adhere t Prcurement Card Plicy, Prcurement Plicy, Unauthrized Purchase Plicy Maintain receipts fr 18 mnths Cmpliance cmpleteness/warning/suspend/revke Audited - mnthly Cntact Teresa Chandler (chandler@cua.edu) fr mre infrmatin

9 8 Crprate Travel Card Intended fr thse individuals wh travel three r mre time annually in supprt f university business and missin Adhere t University Crprate Travel Card Plicy, Travel Plicy Shuld be used nly fr business travel & entertainment Airline tickets Htel Rental Meals Must be recnciled by the traveler Detail the nature f the expense Mnitred carefully t detect abuse

10 9 A Need is identified by Requistiner Original Invice is sent t Accunts Payable and Payment is Made Surcing Prcesses and Requisitin is Created in PepleSft r P-Card Requistiner Creates a Receipt in PepleSft PO is Created and Sent t Supplier Prducts/ Services Delivered

11 10

12 Strategic Surcing and Prcurement Website 11

13 University Prcurement Plicy and Prcedures Signature Authrity University plicy clearly states that, nly the President, Prvst, VP fr Finance & Treasurer, and the Prcurement Services Office delegated by the VP fr Finance, have the authrity t enter the Cathlic University f America int a signed cntract agreement. Departments and their emplyees d nt have the authrity t sign cntracts r act as agents f the University, regardless f the dllar amunt. An individual in vilatin f the abve is persnally liable fr all cmmitments wed t the supplier, mnetary and therwise. In additin, The Vice President fr Finance & Treasurer has authrity t execute and deliver any and all deeds, leases and cntracts arising ut f the nrmal business peratins f the University and fr which funds are available in the apprved budget. Cmpetitive Bids University prcurement plicy requires that cmpetitive bids must be btained fr purchases f gds r services in excess f $2,500. Fr purchases between $2,500 and $5,000, a minimum f tw bid qutes are required. A minimum f three written bid qutatins are required fr purchases f $5,000 r mre. Exceptins t this prcedure may be granted by Prcurement Services if acceptable written justificatin fr a single- r sle-surce is submitted and apprved. Cnflict f Interest University trustees, fficers, faculty, and staff are expected t avid even the appearance f imprpriety when perfrming their duties and must nt use their psitins r knwledge gained n the jb t imprperly influence decisins fr their persnal advantage r fr the advantage f their families r their friends. Further, an emplyee may nt purchase r influence the purchase f gds r services fr University use frm a firm r rganizatin, if the emplyee r his/her family wuld receive financial gain, withut disclsing such interest in writing t their immediate supervisr and t the Prcurement Services Office. Prcurement Questins askprcurement@cua.edu 12

14 Finance Plicies: Prcurement Plicy Cntract Apprval & Signature Authrity Prcurement Card Plicy Crprate Travel Card Plicy Unauthrized Purchase Plicy Standardizatin Plicy Prhibited Transactin Plicy

15 Accunts Payable 14

16 15 Payments * Vendrs A t K Vendrs L t Z Petty cash reimbursements Travel advances and reimbursements Pint f Cntact Cti Chap x5851 Charlene Rbinsn x5847 Lrieann Eaddy x5853 Lrieann Eaddy * Vendr split by analyst changes every May 1 (beginning f fiscal year) Office Staff: - CUA-AccuntsPayable@cua.edu Lisa David, AP Directr x5854

17 16 Cntrls the disbursement f all nn-payrll University checks Prcesses emplyee reimbursements Checks printed Mnday, Wednesday and Friday Frms, plicies, FAQ, etc. n website:

18 17 Make sure accunt chartfield is cmplete and crrect Make sure yu have adequate funds in yur General Expense budget t cver the payment Fr new vendrs, ensure Vendr Applicatin is attached Apprpriate apprval is required Fund managers apprve vendr payments Supervisr f the fund manager apprves reimbursements fr the fund manager s expenses Avid duplicate receipt submissin Only riginals Many vendrs prvide tw cpies; nly submit ne Ensure receipt hasn t been paid via anther Direct Pay r anther payment methd (e.g. American Express r University credit card) Staple all receipts t 8 ½ by 11 paper

19 18 Methds f paying fr gds r services: Direct pay frm Payment f hnraria, cntributins, memberships r nn-travel emplyee reimbursements Must be authrized by rg financial manager (and supervisr fr emplyee reimbursements) Attach riginal receipts Pay invice frm previusly established Purchase Requisitin Required fr transactins nt paid fr by Prcurement Card r Direct Pay frm Once PO is established, receive item in PepleSft and submit invice t AP recrd receipt # n the invice Write final invice n invice if yu want AP t liquidate/clse ut a PO Travel Expense Reprt Must be used fr all travel expenses

20 19 Travel All travel expenditures must be submitted n Travel Expense Frm Plicy, prcedures, frm and ther travel links n AP website Business purpse and attendees must be included Include riginal receipts attached t 8 ½ by 11 paper Requires traveler s supervisr apprval n exceptins Expense reprts due 15 business days after travel Traveler s respnsibility t be familiar with University Travel plicy befre trip Freign travel traveler cnverts expenses t US$ as f day f purchase (link n AP website t OANDA.cm)

21 20 Meal reimbursement Per Diem r Actual Cannt cmbine bth methds in ne trip Grup business meals are cnsidered separately Incidentals (tips) included in Per Diem rate Gvernment rates used Cannt use Crprate/Prcard fr meals and request Per Diem See travel plicy fr full infrmatin including rules fr partial Per Diem

22 21 Think f yur rg like a checkbk Yu have bught certain items, such as prcurement card purchases, that might nt appear in yur rg yet. Hwever, like a check that hasn t cleared, thse funds have been spent and can t be used fr ther things. Use drilldwns t examine what expenses are in yur rg.

23 Treasury Services 22

24 23 Wh We Are Treasury Services Renell Lewis, Directr f Treasury Services lewis@cua.edu; x6445 Pat Hartline, Treasury Analyst hartline@cua.edu ; x6707 Helen Huntt, Accunt Analyst huntth@cua.edu ; x5595 Cashiers: Vera Cvingtn, Cash Accuntant cvingtn@cua.edu ; x5048 Peggy Rckefeller, Cash Accuntant rckefeller@cua.edu; x5048

25 24 Treasury Services Rle f Treasury Services Cash handling Prcessing cash depsits Administer petty cash prgram Administratin f bank accunts Recnciliatins Internatinal Wire Transfers Investment management Endwment Payut Asset Allcatin Financial interface fr cntributins Split interest arrangements Annuity prcessing

26 25 Treasury Services Cash handling All depsits must be kept secure (lcked). Departments can accept cash, checks, credit cards. N starter checks (checks with numbers belw 100, r checks withut name imprinted n them) If the phne number is nt pre-printed n the check, please ask fr it and write it n the check. With this the individual can be cntacted if the check is returned. Types f credit cards currently accepted thrugh terminal and nline transactins Visa, Master Card, Discver, AMEX

27 26 Treasury Services Bank accunts Only the Vice President fr Finance and Administratin can authrize the pening f a new bank accunt. N University rganizatin shuld have an utside bank accunt that cntains University funds withut prir apprval frm the Vice President fr Finance and Administratin. Written departmental prcedures All departments must have written prcedures fr the handing f cash in that area. These prcedures must be apprved by Treasury Services

28 27 Treasury Services Depsit Tickets Depsit frms can be dwnladed at the fllwing internet address: All checks depsited shuld be made payable t The Cathlic University f America (CUA). Preparing depsits Depsit tickets shuld be filled with cmplete chartfield infrmatin prir t arriving at the Cashiers Office. When making a depsit, be specific in describing the purpse f the depsit and have cmplete detailed attachments in case there are future inquiries. All credit card transactins (depsits and refunds) shuld have back-up infrmatin attached.

29 28 Treasury Services Preparing depsits (cnt d) Departments shuld keep cpies f their depsit tickets as well as the receipts generated frm the Cashier s Office. All receipts shuld be recnciled mnthly with Cardinal Financials (nvisin Reprts) t ensure rg accuracy. Making depsits All depsits shuld be made at the Cashier s Office. Please d nt send depsits thrugh Campus Mail. Cashiers Office lcated in Leahy Hall Rm 155 Cashiers Office is pen daily frm 10am 4pm All individuals making depsits that cntain cash must wait at the windw fr a receipt.

30 29 Treasury Services Petty cash A reimbursement fund which makes cash cnveniently available fr expenditure at lcal levels, in small dllar amunts, fr fficial purpses f the University. Petty Cash funds shuld nt be used fr awards, persnal services, ryalties, persnal lans, r salary advances. N single expenditure frm a petty cash fund may exceed $75. Requesting Petty Cash An shuld be sent frm the department head t the Directr f Treasury Services requesting the petty cash fund. The shuld include the fllwing: the name f the manager and custdian, the dllar amunt f the fund (default is $200), and the purpse f the fund.

31 30 Treasury Services Petty cash reimbursement The fund shuld be balanced at least mnthly. There shuld be a lg f all transactins. When the cash n hand is depleted, prepare a direct pay frm and prvide all backup dcumentatin, including accunting infrmatin. Prvide the direct pay frm t the Accunts Payable Department. AP will issue a reimbursement authrizatin frm t the custdian. The custdian will give the reimbursement authrizatin frm t the Cashier, wh will prvide the cash reimbursement.

32 31 Treasury Services Internatinal Wire Transfers (Outging) Prcess a purchase requisitin first Ensures cmpliance with budget and cntract rules Wire transfer frms can be dwnladed at All infrmatin n wire transfer frms must be filled in cmpletely. Back-up dcumentatin must be attached. Please allw Treasury Services 2-3 days t prcess wire transfer requests, if there s a cmpleted purchase rder. Internatinal wire transfers settle within 2-3 business days.

33 32 Treasury Services Dmestic and Internatinal Wire Transfers (Incming) Ntify the Cashiers Office if yu are expecting t receive an internatinal r dmestic wire transfer. Prvide the Cashiers Office with the crrect chartfield t credit the depsit. Unclaimed Checks Please return any unclaimed checks Payrll r Accunts Payable has delivered t yur department in a reasnable amunt f time t allw fr fllw-up. Check Cashing The Cashier s Office will nt cash checks under any circumstances. This includes check written ff f University accunts.

34 33 Use these plicies as a reference fr yur questins All n CUA Official Plicy Site ( Cash Handling Plicy Cntract Plicy Financial Transactin Authrity Grants and Cntracts Plicy Petty Cash Plicy Prcurement Plicy Prcurement Card/Crprate Card Plicy Prhibited Transactins Plicy Travel Plicy University Budget Plicy

35 34 Orientatin slides lcated at Next Mdule A sessin: T Be Annunced Sn Areas cvered in Finance Orientatin Mdule A include: CUA Accunt Chartfield Cmmn Reprts Budget Office General Accunting Finance mailing list Mnthly Accunting/Prcure t Pay Q&A Sessins T Be Annunced Sn