TRANSFORM PURDUE GENERAL LEDGER GO-LIVE (7/9/2018)
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1 TRANSFORM PURDUE GENERAL LEDGER GO-LIVE (7/9/2018) Department Heads and Deans Presented - July 30, 2018
2 AGENDA Post Go-Live Assessment Finance Structure and Metrics Financial Transparency Faculty Allocations New Scholarship Accounting Process Gift Consolidation Transfers Other Key Process Changes Q & A 2
3 TRANSFORM PURDUE - 21 DAYS POST GO-LIVE What Has Gone Well? What are pain points? Major systems and interfaces worked as expected to support ongoing operational needs Validation of accounts pre-/post-conversion has created new transparency and understanding across central offices and business units Initial go-live reporting requirements have been met with updated suite of reports released Feedback, Incident reporting has been effective and resolution of problems is ongoing Training / Understanding of both system and process changes is always a challenge Financial postings into new account structures are a direct result of account mappings and we are finding issues that need to be resolved While overall systems work we have pain experienced by users that are a result of system defects or problems that we are addressing during this stabilization period Perfection will take some time..everyone is learning a new way of operating 3
4 TRANSFORM PURDUE POST GO LIVE INCIDENT METRICS Incidents Trending in Right Direction # Incidents Reported Logged Incidents /8/2018 7/15/2018 7/22/2018 7/29/ # Incidents % % of Incidents Closed (71% last week) 50 0 Incidents Resolved Open 4
5 FINANCE STRUCTURE Information Available Purdue Income Statement Budget & FTE Balance Sheet Campus WEST LAFAYETTE Segments PROVOST Business Areas SCIENCE Cost Center BIOLOGY Available Balance Internal Order/Work Breakdown Structure Element (WBSE) FACULTY ALLOCATIONS 5
6 FINANCE STRUCTURE - SIMPLIFICATION Pre- Conversion At Go-Live Overall Gifts Pre/Go-Live Scholarships Pre/Go-Live Valid Accounts - track operations 86,740 28,763 9,816 / 4,359 5,276 / 4,383 Funds 16, Business Areas (Maj. Units) Cost Centers 9,051 1,677 Internal Orders tracking 42,229 19,204 Faculty WBSE - tracking - 9, / 1,120-6
7 FACULTY ALLOCATIONS DEFINITIONS OF NODES Grants Discretionary Start-Up Restricted Sponsored programs tied to faculty Same as reported in GM AIMS Examples: Research discretionary Faculty Scholar Allocations Grant residuals Digital Education residuals Faculty Awards Professorships No restrictions except for University policy Faculty member start-up allocations Plan represents the entire package Reporting now available for End Date of package Examples: Research Seed Grant Research Lab Upgrade IMPACT Allocations Professorships Use of funds limited for specific purpose or types of expenses 7
8 FINANCE STRUCTURE FACULTY ALLOCATIONS New Transparency for Faculty Activities Faculty WBSE Tracking # Faculty with Allocations Average # Allocations per Faculty Overall Federal Appropriations Discretionary Start-up Restricted 9,559 1,817 5, ,670 2, , ,
9 FINANCE STRUCTURE HOW DOES THE NEW STRUCTURE BENEFIT THE UNITS? The structure is now consistent across the entire Purdue System Simplifies Reporting Allows for separation of Department Operating Funds and Faculty Allocations Shows available/flexible funds for use at Department Head s discretion Financial information will be accessible and understandable to other business office staff during turnover Data and reporting is available real time Response time to serve our faculty is greatly reduced 9
10 NEW FINANCIAL TRANSPARENCY EXAMPLES Automated Reports/Real Time/Consistent Across Units Available Balance Listing Push Button Access Financial Units and Sub-Units Replaces 100s or 1000s of manual steps or excel spreadsheets Clarity into who owns an allocation Faculty Allocations Faculty Portfolio of Balances and Activity Clarity of Start-up and Professorships Insights into Discretionary vs. Restricted funds 10
11 COLLEGE OF PHARMACY PRE CONVERSION Availability of Reporting Four departments & six sub-departments 269 different cost centers Availability of Reporting Automated Manual 11
12 GLOBAL HEALTH EXAMPLE PRE-CONVERSION Reporting is Entirely Manual Clerk exports 25 individual transaction reports from SAP to Excel Copies and pastes account balances to a summary tab Month-end spreadsheet ed to program leadership Usually middle of the next month (if it happens) 12
13 GLOBAL HEALTH EXAMPLE POST-CONVERSION Reporting is Automated/Available Real Time Now Real-time reporting with no manual intervention Interactive and drillable for more granular details Consolidated accounts by ~50% 13
14 VISIBILITY OF ACCOUNT OWNERS Department / Faculty Allocations No pre-conversion visibility Position responsible for account 14
15 FACULTY ALLOCATION REPORTING Automated/Real Time Faculty A B C D E F G H I J 15
16 FACULTY ALLOCATIONS START UP Start up Next Level of Detail Faculty A Faculty A Start up Ext/Engage Faculty A Start up Research 2 Start Up I/Os (Accounts) Faculty A Faculty A Ext/Egage Faculty A Research Validity Date Package Activity Plan Balance 16
17 FACULTY ALLOCATIONS START UP Back to the Department View How are we funded? Start up Package Fully Funded Unfunded portion of Start Up 17
18 FACULTY ALLOCATIONS - PROFESSORSHIPS A Step Further What is available balance for Professorships? Faculty A B C D 18
19 REPORTING UPCOMING RELEASES What can you expect in the future? Statement of Financial Activities Sep 1 Operating Classifications Departmental Operating Departmental Allocated Income Producing Restricted Gifts State & Federal Appropriations Student Aid Department Head Dashboard TBD 19
20 Statement of Financial Activities What units and activities are responsible for the $4.6M yearend balance for a Major Unit (College)? Department Name Depart. A B C D E F G H Unrestricted to Dept Restricted- State Line FY2017 Year-end Balance Income Producing Scholarships Restricted Gifts Faculty Grand Total Polytechnic Anderson $ 106, $ (222,987.17) $ 10, $ (509.02) $ (106,496.12) Polytechnic Columbus $ 1, $ (7,025.66) $ 5, $ 6, $ 12, $ 21, $ 40, Polytechnic Indianapolis $ 2, $ 71, $ 10, $ $ 84, Polytechnic Kokomo $ 20, $ 54, $ 6, $ 139, $ 29, $ 251, Polytechnic Lafayette $ 142, $ 52, $ (29,192.72) $ 9, $ 175, Polytechnic New Albany $ 46, $ 117, $ (5,804.85) $ 8, $ 9, $ 24, $ 201, Polytechnic Richmond $ 9, $ 87, $ $ 23, $ 120, Polytechnic South Bend $ 28, $ 49, $ 21, $ 10, $ 312, $ 35, $ 457, Polytechnic Statewide Technology $ 35, $ 3,544, $ 3, $ (214,124.26) $ 1, $ 3,371, Polytechnic Vincennes $ $ (54,271.39) $ 21, $ 6, $ (26,251.49) $ 394, $ 3,693, $ 33, $ (38,031.87) $ 334, $ 151, $ 4,569,
21 GIFTS & SCHOLARSHIPS Provost, University Development Office and Treasurer have been working on a better way to manage scholarships and gifts. Goals Simplify account structure Effectively award and steward scholarships Maximize return on cash balances 21
22 Enrollment Mgt Sources - $75.6 Colleges Sources - $ General fund allocation Purdue Moves Endowment Dist Gifts Reserves Summer state approp FY 2018 Budget. $ in millions
23 Large percentage of accounts with small balances significant administrative burden 23
24 $ in millions. System wide cash balance report. Includes scholarships and student loan funds projected as of 4/30 Sub-optimal investment returns as cash in student aid support accounts grows /40 portfolio 100 years PU Endowment 5 years Cash 0 FY 2014 FY 2015 FY 2016 FY 2017 FY % 2.0% 4.0% 6.0% 8.0% 10.0%
25 Need for solid stewardship, efficient use of resources as UG population grows $2,437 $2, A P P P P P UG Enrollment Ave UG Scholarship
26 Endowed Scholarships New process Award Colleges/Units College/Unit Tracking Endowment - PRF Expense pushed to SAP Distribute cash to cover awards (1:1) Student Information System (SIS) SAP -Internal Order Tracking Excess distribution above expenses reinvested back in endowment Units maintain role in selection of recipients and donor stewardship Units budget up to the Endowment spending policy; actual expenses pushed to SAP Ensures excess cash reinvested to maximize return Requires only 1 financial account for every Business Area (College/Unit) accounts for University
27 Non-endowed Scholarships New Process Step 1: UDO Review of Existing Accounts Step 2: Account Changes Fall 2018 Step 3: Existing Cash Balances (in accounts) Review to Determine Department Account Structure Enrollment Management (EM) and Colleges/Units Spend and close or consolidate Maintain until donor commitment complete 1 unrestricted support account All income (gifts) deposited here Any Unit accounts to spend, close or consolidate funds transferred to the unrestricted account Activity and cash balance in unrestricted accounts monitored annually to ensure timely use If not timely used, excess funds may be periodically transferred to EM or University wide quasi endowment for scholarships Units maintain selection and stewardship of unrestricted support account Requires only 1 financial account for every Academic cost center ~250 accounts for University
28 GIFTS & SCHOLARSHIPS Separate accounts for new non-endowed gift and scholarship revenues will not be created, except by approval of the VP for Development and Comptroller. This does not include voluntary support (gifts restricted to faculty administered through SPS) For new non-scholarship endowments, new support accounts will not automatically be established by PRF. Units will first be asked if they have an existing support account with the same purpose/restrictions as the new endowment or if a new account is needed. Quick responses to these questions are necessary. 28
29 TRANSFERS There are significant administrative costs associated with transfers Over 49,000 line items of transfers 71% of transfers line items are processed as Transfers-Other Implementing some new guidelines will allow more transparency and allow to us gather more data around transfers Example: directly transferring funds from the area funding Specific transfer categories 29
30 TRANSFERS We need assistance from Department Heads and Deans to reduce and simplify the number of transfers Track meaningful activity not nickel and dimes Splitting of Sponsorships/Events by areas must be minimum $1,000 Generally speaking, transfers less than $1,000 will not be permitted except in the following circumstances: Conference & Residual Transfers Impactful Faculty/Staff Allocations Account Closing & Consolidation Cost Sharing 30
31 FISCAL APPROVAL & WORKFLOWS What will Faculty and Department Heads approve in SAP? Faculty and Department Heads will approve items via electronic workflow: Faculty will approve subcontract payments via electronic workflow Today this approval is handled via Faculty with active grants that have a subcontract have been notified of the process change and the requirement for Two-Factor Authentication. No additional or significant workflow changes impacting our faculty or departments related to this. Workflow impacts will be greater with HCM project activities and will be reviewed with you separately. 31
32 FISCAL APPROVAL & WORKFLOW Fiscal Approver for <$1,000 Transactions No Longer Required In the past we have spent the majority of the effort on a small percentage of spend Post audits through standard reports will be used to review transactions Annual External Transactions Count Value % of External Spend Transactions < $1, ,000 $75M 7% Transactions > $1,000 65,000 $945M 93% TOTAL 470,000 $1,020M 32
33 FISCAL APPROVAL & WORKFLOW Ariba Purchase Orders Requisitions < $1,000 will not require fiscal approval. However in most departments, business office staff will still be entering orders Non-business office users that consistently use ARIBA can continue to use ARIBA but will be responsible for the orders Other special commodity approvers will remain (regulatory and Information Technology) If a requestor cannot produce accurate POs < $1,000, the Ariba Requestor role should be removed. Concur approval process has not changed Direct Invoice Vouchers are now routing electronically no paper! 33
34 34
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