Monthly Financial Officers and Administrators Meeting

Transcription

1 Monthly Financial Officers and Administrators Meeting JSOM Wednesday, September 16,

2 Agenda Welcome Dr. Bernoussi Year end Balances Roll Forward Dr. Bernoussi OBIEE i Bots Status Dr. Bernoussi FY16 Budget Control Dr. Bernoussi Credit Cards Equipment Upgrade Dr. Bernoussi PeopleSoft University for Staff Dr. Bernoussi Reconciliation Status Update Jennifer Mayes Electronic Letters of Representation Jenifer Mayes Departmental Updates 2

3 Year end Balances Roll Forward 3

4 FY15 Year end Balances Roll Forward Encumbrances FY15 open encumbrances rolled forward to FY16 Budgets rolled forward for FY15 open encumbrances Fund balance rolled forward for FY15 open encumbrances Ending Fund Balances Fund balances rolled forward with the exceptions specified in the President s memo: State funds Undergraduate Advising Fee Information Technology Fee Fund balances rolled forward with the exceptions requested by some departments 4

5 FY15 Ending Fund Balances FY16 Beginning Fund Balances Use OBIEE Fund Balance by Department Report Also use the Fund Balance Overview to validate ending/beginning fund balances 5

6 OBIEE i Bots Status Update 6

7 OBIEE Automated Delivery of Reports ibots Database timeout configuration issue was resolved The automated delivery of reports has resumed last week The monthly i Bots for August are expected to be delivered this week Object of Expense Awards and Projects Weekly i Bots delivery during August? Budget Deficit Revenue Shortfall Fund Balance by Department Operating Cost Center Expenses 7

8 FY16 Budget Control 8

9 FY16 Budget Control Budget exception notifications are turned off during the month of September Budget control and exception notifications will be turned on by October 9 th 9

10 Credit Card Equipment Upgrade 10

11 EMV Chip Cards EMV stands for Europay, MasterCard, and Visa EMV is the worldwide standard for chip based payment transactions Chip cards contain embedded EMV chips (microprocessors) that interact with the merchant POS EMV chips contain fraud reducing technology that is virtually impossible to duplicate 11

12 Impact on UTD Departments required to upgrade credit card devices will receive a memo detailing what is needed to become compliant System Network Configuration Workstation Configuration Workstation Upgrade Credit card devices upgrades will start after September 29 th 12

13 PeopleSoft University for Staff 13

14 PeopleSoft University for Staff 14

15 Reconciliation Status 15

16 Reconciliation Status: Periods 1 11 As of September 15, 2015 $22.8 million in expenses still need reconciliation and/or approval $11.6 million in revenue still needs reconciliation and/or approval 16

17 Electronic Letters of Representation 17

18 FY 2014 Letters of Representation 18

19 FY 2015 Letters of Representation 19

20 Timing is Important Each step is required before the next step can be completed. All reconciliations and approvals should be completed before an owner signs his/her certification. UTD Financial Statements School & Division elor Cost Center Owner elor All owners in a school or division should certify before the Dean or VP certifies. ARA Reconciliations 20

21 Timing is Important Completed reconciliations and approvals appear on the owner elor. If a cost center owner certifies before the reconciliations and approvals are complete, subsequent reconciliations and approvals will not appear on the elor. Owner LOR ARA Why does this matter? One of the statements on the certification says: All cost centers in my area have been reconciled using the Account Reconciliation application Dean/VP LOR 21

22 Timing is Important Incomplete owner certifications appear as PENDING on the School and Division level elors. If the Dean or VP certifies before all owner certifications are complete, the subsequent owner completion will not be reflected on the School or Division elor. Owner LOR ARA Dean/VP LOR Why does this matter? Once the VP or Dean certifies, owner information will be locked onto the Pending page even if subsequent owner certification occurs. 22

23 Demonstration 23

24 Some Questions Received Q: Will support staff have access to cost center owner LORs? A: Not for the FY 2015 process. Q: How long can I view elors in PeopleSoft? A: They will remain in PeopleSoft for the duration of the records retention period. That is 6 years plus the current year. 24

25 More Questions Received Q: What if the cost center owner certifies before all cost centers are reconciled and approved? A: * If the cost center owner certified accidentally, I can reset the certification. Either the owner or the fiscal officer can send an to me with the cost center owner s name requesting the reset. * If the cost center owner does not believe it is possible to reconcile and approve all cost centers by September 30, 2015, a comment will need to be added on their LOR stating why this is the case. 25

26 More Questions Received Q: If I am not the Fiscal Officer in the Dean s or VP s suite, how can I monitor completion of the elors in my department? A: Similar to the reconciliation status reports, I have an LOR status report I can to you. It can be developed based on department code or cost center owner. me anytime and I ll be happy to send a status report to you. 26

27 Departmental Updates Accounting and Financial Reporting Procurement Management Budget and Resource Planning Payroll & Data Management Student Financial Services Information Security Human Resources Research Facilities Management Miscellaneous Updates 27

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