FISCAL AND BUSINESS OFFICERS MEETING

Transcription

1 FISCAL AND BUSINESS OFFICERS MEETING WEDNESDAY, MAY 17, 2017 JSOM 1.517

2 AGENDA Welcome, University Business Council Update Dr. Bernoussi Updates and Reminders Year End Cost Center Review and Closeouts Dr. Bernoussi Cost Center Reconciliation Status Jennifer Mayes Travel Updates Debbie Reynolds Purchase Orders for Year End Debbie Reynolds Accounting and Financial Reporting Greg Argueta Budget and Resource Planning Orkun Toros Payroll and Data Management Adam Cantwell Human Resources Ilyce Murray Student Financial Services Cheryl Friesenhahn Other Reminders and Updates All Question of the Month Dr. Bernoussi Training and Demos: ARA Query and FlickBooks Dr. Bernoussi Birds of a Feather Dr. Bernoussi Adjourn

3 UNIVERSITY BUSINESS COUNCIL UPDATE DR. BERNOUSSI Associate Controller

4 UNIVERSITY BUSINESS COUNCIL UPDATE New Budget Office Employees: Kim and Amber Payroll Summer Roll Budget Development Process Ongoing Projects: Allowable Cost Report Building Fiscal Officers Universal Role

5 YEAR-END COST CENTER REVIEW DR. BERNOUSSI Associate Controller

6 DEPARTMENTAL COST CENTER LISTING In preparation for year-end Cost Center Listings will be distributed Friday, June 16 th. The spreadsheet lists the department, function, fund, owner and approvers of each cost center. Please return the spreadsheet to Jazzmyn Wilson with any changes by Friday July 28 th For questions or concerns contact Stephanie Williams or at ext. 2637

7 SYSTEM ADMINISTRATION CONTACT INFORMATION Systems Administration Main ext Stephanie Williams Finance System Administrator ext Jazzmyn Wilson Systems Administration Specialist ext. 4702

8 COST CENTER CLOSE-OUT PROCEDURES DR. BERNOUSSI Associate Controller

9 COST CENTER CLOSE-OUT NON-GRANTS All requests must be submitted by the Fiscal Officer to Systems Administration. Systems Administration receives additional approvals for restricted gifts for research and plant fund cost centers. Systems Administration verifies there is no current year activity and all ledger balances have a zero balance. If the cost center has current year activity or a fund balance, the cost center is frozen and inactivated the next fiscal year. (A cost center will continue to appear in ARA until the cost center is inactivated) Any remaining fund balances are re-classed to another cost center and ledger balances are zeroed out. Once the remaining fund balance is zeroed out and there is no current year activity, the cost center is inactivated.

10 COST CENTER CLOSE-OUT GRANTS In order for grant cost centers to be closed-out, all budget deficits must be resolved by transferring out the excess cost. Additionally, any cost identified by the sponsor as unallowable must be transferred to an appropriate cost center. Finally, any costs incurred, posted or transferred into the grant cost center beyond the 45 day adjustment period must be transferred out as reimbursement for these costs cannot be recovered from the sponsor.

11 COST CENTER CLOSE-OUT GRANTS The OPM team adjusts budgets to actuals and closes the project. Accounting Operations verifies all ledger balances are zeroed out. Systems Administration receives approval from Accounting Operations to inactivate or freeze the cost center. If the cost center has current year activity or a fund balance, the cost center is frozen and inactivated the next fiscal year. (A cost center will continue to appear in ARA until the cost center is inactivated). Once the remaining fund balance is zeroed out and there is no current year activity, the cost center is inactivated.

12 COST CENTER CLOSE-OUT PROCEDURES

13 COST CENTER CLOSE-OUT PROCEDURES

14 RECONCILIATION STATUS JENNIFER MAYES Financial Compliance Manager

15 RECONCILIATION STATUS: PERIODS 1-5, FY 2017 As of March 12, 2017 $94.1 million in expenses still need reconciliation and/or approval $16.9 million in revenue still needs reconciliation and/or approval Period 5 reconciliations were due to be completed by March 9 th.

16 RECONCILIATION STATUS BY PERIOD As of May 15, 2017 The red represents $41M, the yellow represents $52M. The red represents $5M, the yellow represents $11M. *Period 7 reconciliations were due to be completed by May 9 th.

17 RECONCILIATION TRAINING June 8th 10:00 11:00 a.m. Class will be held in the Brazos Computer Lab: FO 1.206C Sign up in LEO

18 TRAVEL UPDATES DEBBIE REYNOLDS Executive Director, Procurement Management

19 TRAVEL UPDATES An Employee Travel Voucher form is in eprocurement The new travel voucher will not be mandatory until September 11, 2017 POs are no longer encumbering No desktop receiving needed Since April 5 we have done 361 expense vouchers Any recommendations for changes?

20 PURCHASE ORDERS FOR YEAR END DEBBIE REYNOLDS Executive Director, Procurement Management

21 PURCHASE ORDERS FOR YEAR END for closures as soon as you notice them Get a list of outstanding purchase order using this navigation: Procurement>Procurement custom>purchasing custom>utd Open Encum Inquiry-Summ Will be creating a change order form to use to add onto current Purchase orders

22 UPDATES One Card One Card Statements not required to be signed. Reviewing transactions in Citibank is best practice Correct Account number Correct cost center Add business justification

23 PROCUREMENT ROUND TABLES

24 OTHER REMINDERS AND UPDATES

25 OTHER REMINDERS AND UPDATES Accounting and Financial Reporting Greg Argueta Budget and Resource Planning Orkun Toros Payroll and Data Management Adam Cantwell Human Resources Ilyce Murray Student Financial Services Cheryl Friesenhahn Other Reminders and Updates All

26 QUESTION OF THE MONTH DR. BERNOUSSI Associate Controller

27 HOW MANY SQUARE FEET IS THE NEW BIOENGINEERING AND SCIENCES BUILDING? WEDNESDAY, MARCH 15, 2017

28 HOW MANY SQUARE FEET IS THE NEW BIOENGINEERING AND SCIENCES BUILDING? WEDNESDAY, MARCH 15, ,000

29 WINNERS WEDNESDAY, MARCH 15, 2017

30 WINNERS WEDNESDAY, MARCH 15, 2017 NAOMI EMMETT SELENA GU

31 THIS MONTH S QUESTION WEDNESDAY, MAY 17, 2017

32 HOW MANY CANDIDATES ELIGIBLE TO PARTICIPATE IN SPRING 2017 COMMENCEMENT DID THE SCHOOL OF MANAGEMENT HAVE? WEDNESDAY, MAY 17, 2017

33 TRAINING AND DEMOS: ARA QUERY AND FLICKBOOKS DR. BERNOUSSI Associate Controller

34 WHAT IS FLICKBOOKS Displays a Summary of ARA Data Uses the Pivot functionality Multiple display and grouping options

35 FLICKBOOKS FILE A copy of FlickBooks can be accessed on the Financial Management Services website:

36 Data from ARA Query FLICKBOOKS DATA

37 FLICKBOOKS OUTPUT

38 BIRDS OF A FEATHER DR. BERNOUSSI Associate Controller

39 OFFICE OF BUDGET & FINANCE