REAL TIME FINANCIAL MANAGEMENT. University College Dublin An Coláiste Ollscoile, Baile Átha Cliath UCD BURSAR S OFFICE

Transcription

1 University College Dublin An Coláiste Ollscoile, Baile Átha Cliath REAL TIME FINANCIAL MANAGEMENT Purchase Order Processing Manual for Administrators UCD BURSAR S OFFICE In conjunction with UCD Management Services Unit UCD Research UCD Personnel Office

2 Contents 1 Introduction to Outline of Job Functions Principal Investigator/Researcher Head of School UCD Bursar s Office POP Administrator/Authoriser Processing Cycle for RTFM Glossary of Terms Financial Reporting FAQs RTFM Research Project On-line Forms RTFM Support Units Contact Information A UCD Bursar s Office i. UCD Post Award Research Financial Administration ii. UCD POP Administration Office iii. UCD Fees and Grants Office B UCD Personnel x i. UCD Payroll Office x C UCD Research x i. UCD Office of Funded Research Support Services x

3 1Introduction 1 This document provides a brief introduction to approved procedures, workflows and management tools for researchers, specifically UCD SFI Principal Investigators and research managers. The Project tools have been designed and developed by UCD Bursar s Office; including the UCD Management Services Unit, in collaboration with UCD Personnel and UCD Research as part of the ongoing development of research support services in UCD. is a combination of: Knowledge and implementation of appropriate Best Practice and Procedures including the procurement and purchase of research equipment and supplies and recruitment of contract staff. Budgetary control and monitoring through Business Objects Reporting. Research project purchasing through the e-financials POP Module. Regular housekeeping of both financial and personnel transactions and records. As you are aware it is incumbent on the Principal Investigator to take responsibility for the financial management of their research project budget(s), ensuring funds are used appropriately. provides the researcher with the tools with which to do this. The advantage of using approved Real Time Financial Management procedures and tools, is that bottom-line research project costs may be tracked at all times, thus enabling researchers to make informed planning decisions with regards to both supplies and staffing, and to more effectively control both pay and non-pay budgets. Information Seminars, to be held in January 2006 in the UCD Conway Institute, will provide an opportunity for Principal Investigators and appropriate College and School staff, actively managing and supporting funded research, to meet with the primary contacts in the college research and financial support units. Professor Desmond Fitzgerald UCD Vice President for Research Donal Doolan UCD Head of Financial Management Mark Lande Head UCD Management Services Unit

4 2 2Outline of Real-Time Financial Management Job Functions 2.1 Principal Investigator/Researcher Monitor project budget Comply to budget requirements Ensure all project purchasing complies with procurement procedures (including Freedom of Information Act) Define and monitor requisition thresholds for research employees Obtain comprehensive, accurate and competitive pricing from suppliers either directly or through support staff responsible for purchasing Manage research salaried staff appointments, ensuring all employment contracts and salary amendment documentation are appropriately signed and endorsed Liaise with internal UCD research support service providers as required Maintain records 2.2 Head of School Responsible for overseeing all research activity in School Responsible for all School Cost Centres Responsible for ensure PI's stay within funding limits 2.3 POP Administrator Comply to procurement procedures (including Freedom of Information Act) Key in purchase orders in e-financials POP Module Key in Goods Receipting in e-financials POP Module Deal with case studies Liaise with suppliers to resolve issues Liaise with the Finance department to resolve issues Account for non-authorised expenditures Monitor travel and supplies expenditure using Business Objects Reporting Responsible for regular POP housekeeping 2.4 POP Authoriser Authorise / Deny Purchase Orders in a timely manner in e-financials Comply to procurement procedures (including Freedom of Information Act)

5 3Processing Cycle for 3 1. Budget Assignment Science c Foundation Ireland 2. Purchase Requisition 3. Purchase Order Creation UCD Bursar's Office Principal Investigator [P.I.] 4. Purchase Order Approval UCD Procurement Officer POP Administrator 5. Goods / Services Ordering 6. Goods Reception PO Authoriser 7. Goods Return Supplier 8. Supplier Payment Accounts Payable Group Director Housekeeping 9. Budget Reporting Head of School Error Correction

6 4 4Glossary of Terms Commitments / Immediate Commitments: Commitments = Orders authorised not received Accruals: Accruals = Orders received not invoiced Residual Budgeting Checking: When procuring project goods it is not sufficient to check the balance in a project or cost centre. Residual Budgeting provides on-line budget control within the Purchase Order Processing module. Residual Budgeting is invoked on order authorisation. The PI or researcher must look at the individual levels at which the budgets are entered. Budget Amount - Actual Expenditure - Commitments (Orders authorised not received) - Accruals (Orders received not invoiced) = Residual Budget Where an overspend is likely, sanction for that overspend must be sought before the order is raised rather than after. The researcher must request budget amendment through UCD Bursar's Office and the funding body as appropriate. Upon approval, a budget journal can be performed and orders then raised. Payroll Encumbrances Payroll encumbrances comprises actual pay costs to date plus future committed pay costs. Pay costs include Salaries, Scholarships and Student Fees Salaries include Employer s PRSI and Pension Costs When the total of these two figures is subtracted from the original research account pay budget the remainder represents uncommitted amounts. Introduction to VAT: Goods or services purchased by UCD are subject to VAT. Some research projects can claim VAT back. PIs will be made aware at budget approval. Suppliers often give prices exclusive of VAT since they claim VAT back. It is important to ensure that Sales Tax or VAT is included in the price of goods or services when checking budgets. VAT on Purchases from Ireland VAT is paid to the supplier VAT on Purchases from Europe For suppliers in Europe, VAT is paid to the Revenue. VAT on Purchases from the United States of America For suppliers in the US, Tax is paid at point of entry. It is important that the PI or POP Administrator organise for tax payments to be ready when the goods are delivered. Financial Period: UCD Financial year starts on 1 October and ends on 30 September the following year. Month Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Period

7 5Financial Reporting FAQs 5 Q: What is Business Objects Reporting? A: Business Objects Reporting is an oracle tool used to report data from the University's main administrative systems including e-financials, Banner and Core. Q: What is a Cost Centre Code? A: It is a four-digit numeric posting code assigned to your School/Research Institute. Q: What is a School Code? A: This alpha-numeric code usually beginning with an S is assigned to each School for reporting purposes in order that we may group School/Unit Cost Centres. Q: How do I find my School or Cost Centre Code? A: UCD Bursar's Office maintains a database of all Codes on the System. The College Principal, Head of School, Accountant or Research Administrator, may request details of their codes. Financial reports received from the Bursar's Office show the relevant codes at the top of the first page. Q: My report requests a Cost Centre Structure? A: Cost Centre Structures for the purpose of research reporting is always: R Q: My Report requests an Account Code Structure? A: Account Code Structure for the purpose of reporting is always: A Q: My report requests a Period? A: A period is a specific month in the academic year. For example October is the start of our academic year and the period is 01 while September is the end of our academic year and the period is 12. Note: Most reports have been modified to ask for start and end dates. Month Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Period Q: What start date should I enter? A: Research & School Budgets run from the start date of when the project was originally set up on the system. If known, enter the start date that is when the project was originally set up on e-financials. If unknown, enter Q: What end date should I enter? A: For end date, enter the last date of month for which details are required.

8 6 6RTFM Research Project On-line Forms (i) UCD Personnel: Post Authorisation Form Employee Set-up Form Contract of Employment for Research Funded Staff Contract of Employment for Research Funded Staff Timesheets Salary Increase Form (ii) UCD Bursar's Office: Budget Amendment Form Expense Claim Forms Supplier Account Set-up Form Purchase Requisition Form Also Fees and Grants Forms: Includes: Internal Transfer Form Tutor / Demonstrator Fee Concession Form Research Scholarship Forms: - Scholarship Authorisation Form - Payroll Set-up Form - Revenue Commissioners Scholarship Exemption Form - Instructions for completion of Revenue Commissioners Form

9 7RTFM Support Units Contact Information 7 A. UCD BURSAR'S OFFICE (i) UCD Post Award Research Financial Administration UCD Bursar's Office First Floor Tierney Building Belfield, Dublin 4, Ireland Fax: CONTACT EXT Stephen Manuel 1082 stephen.manuel@ucd.ie Post-Award Research Accountant Ann McGinley 1084 ann.mcginley@ucd.ie Senior Executive Assistant Ciara Cloak 1083 ciara.cloak@ucd.ie Senior Executive Assistant Triona Brady 1085 triona.brady@ucd.ie Trainee Accountant Kerrie Sheehan 1427 kerrie.sheehan@ucd.ie Executive Assistant Stephen Manuel Post-Award Research Accountant Ann McGinley Senior Executive Assistant

10 8 7RTFM Support Units Contact Information (continued) (ii) UCD POP Administration Office UCD Bursar's Office First Floor Tierney Building Belfield, Dublin 4, Ireland Fax: CONTACT EXT Eileen Penston 1484 eileen.penston@ucd.ie Systems Accountant Treasa Uí Lideadha 2875 treasa.uilideadha@ucd.ie RTFM Project Officer Niamh Hagan 1542 niamh.hagan@ucd.ie Assistant Systems Accountant Emma Acton 1541 emma.acton@ucd.ie POP Helpdesk Administrator Eileen Penston Systems Accountant Treasa Uí Lideadha RTFM Project Officer Niamh Hagan Assistant Systems Accountant Emma Acton POP Helpdesk Administrator (iii) UCD Fees and Grants Office UCD Bursar's Office Ground Floor Tierney Building Belfield, Dublin 4, Ireland Telephone: Fax:

11 7RTFM Support Units Contact Information (continued) 9 B. UCD PERSONNEL / UCD Personnel Office First Floor Tierney Building Belfield, Dublin 4, Ireland Telephone: Fax: (i) UCD Payroll Office UCD Payroll Office is responsible for the timely and accurate payment of the weekly and monthly salaries of all UCD PAYE staff. The Payroll Office manages all statutory and voluntary deductions and submits statutory returns and taxes to the Revenue Commissioners each month. CONTACT EXT Recruitment and Employment Orla Cosgrave 1653 orla.cosgrave@ucd.ie Senior Personnel Officer Paul Fitzgerald 2885 paul.fitzgerald@ucd.ie Personnel Assistant Pay & Conditions Mary O'Connor 1643 mary.oconnor@ucd.ie Senior Personnel Officer C. UCD RESEARCH UCD Research is the primary sponsor of the Project, ensuring sufficient staffing and resources were engaged in the project and in research support services, in order to better meet the needs of UCD SFI Principal Investigators. (i) UCD Office of Funded Research Support Services The Office of Funded Research Support Services deals with all pre-award functions relating to Externally-Funded Contract Research, assisting members of the academic staff to source external funding opportunities, prepare proposals and finalise contracts. The Office administers UCD s own Schemes in Support of Research and is integrally involved in the policy and procedures relating to Research Ethics. OFRSS Contact Information Office of Funded Research Support Services UCD Research, First Floor Health Sciences Centre Belfield, Dublin 4, Ireland Telephone: exec@ucd.ie Website:

12 UCD Bursar's Office First Floor Tierney Building Belfield, Dublin 4, Ireland