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FY 2009 Year End Training May 12, 2009

WELCOME!. Presenters: Budget Office Business & Financial Services Financial Systems Services Payroll Sponsored Programs. FY 2009 Year End Training May 12, 2009. Overview . Presented by Lynn Johnson. A day in the life…. Goals.

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FY 2009 Year End Training May 12, 2009

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  1. WELCOME! Presenters: Budget Office Business & Financial Services Financial Systems Services Payroll Sponsored Programs FY 2009 Year End TrainingMay 12, 2009

  2. Overview Presented by Lynn Johnson

  3. A day in the life….

  4. Goals • Learn about closing the University financial records • See some faces involved in the process • Answer your questions

  5. Why Do We Do This?Or – “The BIG Picture” • Financial Statements • State of Colorado, Colorado State University System and Colorado State University • Who reviews our statements and why? • Financial Statement Accuracy • Accrual Basis of Accounting a.k.a. recognizing revenue when earned and expenses when incurred

  6. Changes for FY 2009 FRS is going away. It will remain open to close FY09, but any reversing entries will be made in KUALI. There are no significant changes to closing instructions for this year.

  7. FRS is Going Away • FRS went live on July 1, 1990 and the first close was done in FY91

  8. FRS is Going Away Cash & cash equivalents • In 1990 was $22,150,000 • In 2008 it was $493,170,000

  9. FRS is Going Away Total Assets • In 1990 were $407,317,000 • In 2008 they were $1,242,785,000

  10. FRS is Going Away Liabilities • In 1990 were $96,151,000 • In 2008 they were $572,812,000

  11. FRS is Going Away Number of Accounts in FRS • In 1990 10,200 • Today 19,419

  12. FRS is Going Away What has happened during this time? 1990- Albert Yates was named the 12th president of Colorado State University 1991 - Thomas Sutherland was released after being held for six years as a political prisoner

  13. FRS is Going Away What has happened during this time? 1992- The TABOR (Taxpayers Bill Of Rights) Amendment becomes law 1997- On July 28 Colorado State University incurred heavy losses to buildings and equipment from sheet water damage

  14. FRS is Going Away What has happened during this time? 1999- Colorado State University breaks from the Western Athletic Conference and forms the Mountain West Conference

  15. FRS is Going Away What has happened during this time? 2003- Dr. Larry Penley is named the 13th president at Colorado State University The State Board of Agriculture is renamed the Board of Governors of the Colorado State University System. USC becomes CSU-Pueblo and Fort Lewis College separates from the CSU System.

  16. FRS is Going Away What has happened during this time? - 2008 – CSU Global Campus opens enrollment - Research expenditures top $300 million

  17. FRS is Going Away What do you remember about FRS?

  18. Budget Information Presented by Becky Trentlage

  19. Office of Budgets - Contacts • Becky Trentlage 491-0898 • Angie Nielsen 491-1689

  20. Budget News New departments or re-mapping of existing accounts to a different department Deadline – June 8, 4:00 p.m. Designated Future Commitments (DFCs) Deadline – June 15, 4:00 p.m. New accounts needed to support new year staffing process Deadline – June 19, 4:00 p.m. Budget Change Requests (BCR) Deadline – July 6, 4:00 p.m.

  21. Budget News Current carryforward policy is: Up to 1.5% of unexpended year-end balances may be carried forward to the new fiscal year. The 1.5% limit applies to: Combined 13 and 16 funds Professional Veterinary Medicine (14 fund) Agricultural Experiment Station (15 fund) CSU Extension (17 fund) Colorado State Forest Service (19 fund) Funds in excess of the carryforward limit will be swept centrally unless approved exceptions are granted.

  22. Budget News Designated Future Commitments (DFCs) for specific purposes, such as; faculty start ups, large equipment purchases, renovations and/or multi-year projects. The Carryforward & Designated Future Commitments Policy and Process, and DFC request form are posted on the Office of Budgets Web site. DFC Submission Request Deadline: June 15, 2009 DFC requests should be submitted to Becky.Trentlage@colostate.eduand will be reviewed for approval by the Cabinet Finance Subcommittee. Please review the posted policy and request form at www.budgets.colostate.edu

  23. Accounts Payable Information Presented by Bob Loosley

  24. Accounts Payable & Central Receiving Contacts • Dan Kelso Dan.Kelso@colostate.edu Receiving on PO’s • Bob Loosley 491-6513 General Accounts Payable Questions • Jackie Riba 491-1363 AFE/PO Questions • Terri Bedan 491-6021 Travel Questions

  25. Accounts Payable Staff • ParvinNaysary491-5019 Vendors B-F and Petty Cash • Jeff Fotsch491-1373 Vendors G-O, General Air, Metrocall, 77funds • Cherie Akin491-1372 Vendors A, P-Z, Telecomm • Beth Fritzler491-2097 Payments to Individuals and reimbursements • Tricia Cochran491-1429 Mail/ Vendoring • Connie Cooley491-1362 Travel payments

  26. Why do we do this in Accounts Payable? • Liability on the Balance Sheet • Expenses incurred but not paid by June 30 • Expenses incurred if goods or services were received by June 30 • Payable entry recorded in batch YAPnnn

  27. Why do we do this in Accounts Payable? • College Business Officers will receive a listing of outstanding POs and AFEs during June • Accounts Payable will review documents paid after year end to determine if an accrual adjustment is necessary

  28. What’s on my report? • FY 2009 – payable entry (this is an estimate) We charge/debit your account (YAP batch). Should occur the night of July 2nd. • FY 2010 – reverse payable entry and pay vendor 1. We credit your account 2. We pay the vendor and charge your account again • Net effect of FY 2010 entries is zero (or close to zero)

  29. Authorization for Expenditures (AFE’s) • Fully routed and approved in SciQuest prior to June 30, 4:00 p.m. üpayable entry will charge your account for the unpaid balance on the AFE • Contact Accounts Payable in advance for known discrepancies

  30. Purchase Orders (PO’s) -- Charged to FY 2009 • Service & Maintenance POs (P3xxxxx) ü payable entry will charge your account for regular/cyclical (monthly, quarterly) payments as can be determined by Accounts Payable • Open POs (P9xxxxx) for invoices received by June 30 ü usually no payable entry • Other POs (P1xxxxx & P8xxxxx) ü payable entry will charge your account if goods were received by June 30

  31. SciQuest Purchase Orders SciQuest purchase requisitions/orders post encumbrance into FRS on the evening final approval is made in SciQuest. • G type purchase orders – orders shipped and charged by vendor on or before June 30th are recorded in 2009. Plan purchases to allow time for vendors to process to ensure transactions are recorded in FY2009. • S type purchase orders – charged to FY2009 if goods are received and invoice is sent to Accounts Payable by 4 p.m. on June 30th.

  32. Purchase Orders – Other Issues • Contact Accounts Payable in advance for known discrepancies • Orders over $5,000 with multiple line items will not automatically be received. • If you receive PO goods or services directly, notify Dan Kelso by June 30, 4:00pm. • Receiving status can be reviewed on FRS screens 228 or 239.

  33. Travel • Submit Travel vouchers with an end trip date of June 30th or prior by July 2, 4:00 pm to be expended in FY 2009 • This is especially important for travel on 5-3 accounts with a June 30, 2009 project end date • “Ghost Card” Airline tickets must be ordered in time to hit the June “Ghost Card” statement. Statement cut off is June 20th. We recommend ordering the ticket on or before June 15th to insure the Travel Agency can process in time for the June statement. • Post Trip Travel Vouchers with travel advances where the traveler owes CSU must have the deposit processed to the correct fiscal year in order for the rest of the expenses to be charged appropriately.

  34. Accounts Payable Issues - ACARD • ACARD üCharged according to the day JPMorgan Chase posts the transaction üTransactions received by July 2, 6:00 p.m. with a transaction date prior to June 30, will be charged to FY 2009 üTransactions not reallocated by July 6, 6:00 p.m. will be charged to the default account in FY 2009

  35. Accounts Payable Issues - ACARD • Do not count on ACARD purchases that are made in late June to hit FY 2009. CSU is dependent upon the vendors to process your transactions through the banking system in a timely manner. We cannot control when these transactions will occur and we do not accrue for “late” ACARD transactions. All transactions processed thru the banking system after July 2 will be processed to FY 2010.

  36. Payroll Information Presented by Joanne Robel

  37. Payroll Contacts • Vickie Schultz 491-4969 • Joanne Robel 491-5853

  38. Payroll Issues • Final FY 2009 Hourly Timesheets Pay Period Ending June 19 (Payday July 2) Due June 23, 12:00 noon • Clear Salary Clearing Accounts (5394xx) Due June 30, 3:00 p.m. ü No salary may post to Salary Clearing Accts in June • Final FY 2009 Labor Redistributions Due July 6, 3:00 p.m.

  39. Payday Shift from June to July • June 19th hourly payroll pay period ending June 5th, paid on July 1st • June 30th salary payroll paid on July 1st • July 3rd hourly payroll pay period ending June 19th, paid on July 2nd ü Please notify/remind your employees

  40. Accounts Receivable Information Presented by Trish Torrez

  41. Accounts Receivable Operations Contacts • Trish Torrez 491-6661 • Janet Fox 491-6663 ü TWARBUS and ARIES Billing System entries üDepartment Payment to Student Account (DPSA)

  42. Accounts Receivable Operations Issues - ARIES Billing System • Paper Documents (except DPSAs) Due June 19, 4:00 p.m. ü Load Sheets • Electronic Uploads to ARIES Billing System Due June 26, 5:00 p.m. ü Allow an extra day for new customers

  43. Accounts Receivable Operations IssuesDepartment Payment to Student Accounts DPSA’s • Uses ü Graduate Assistant Tuition Payments ü Discretionary Scholarships ü Fellowship/Sponsor Designated Scholarships (53 & 99 funds only) • Unapproved DPSA’s - Due June 19, 4:00 p.m. in Account Receivable Operations • Approved/routed DPSA’s - Due June 26, 4:00 p.m. in Accounts Receivable Operations • Remember to review the HB1023 requirement. The box on the DPSA form must be checked to process.

  44. Bursar/Cashier Information Presented by Brian Grube

  45. Bursar/Cashier Contacts Bursar’s Office – Howes Street • Brian Grube 491-6633 Cashier’s Office – Lory Student Center • Becky Everett 491-0597

  46. Bursar/Cashier Issues • Departmental Deposits created in June 30, 1:00 p.m. • Checks/Cash to Cashiers Office June 30, 2:00 p.m. • Please do not accumulate receipts for one final deposit!

  47. Petty Ca$h & Change Funds • Return Fund Confirmations by July 1st üAttach Custodian Change Form to Confirmations ü Use “Change in Fund Custodian” form found at busfin.colostate.edu/forms.aspx, under Treasury • Reimburse Petty Cash funds before Year-End by having approved AFE completed by June 30, 4:00 p.m. • Reduce/close funds no longer needed ü Use “Change in the Amount of the Fund” form found at busfin.colostate.edu/forms.aspx, under Treasury

  48. Campus Services Information Presented by Valerie Monahan

  49. Campus Services Contacts • Valerie Monahan 491-3001 Natural Sciences, VP Research, Colorado State Forest Service, External Audit Contact, F&A/Cost issues • Heidi Barclay 491-4148 Applied Human Sciences, Veterinary Medicine, Liberal Arts, VP Advancement & Strategic Initiatives, External Audit Assistance • Janice Inman 491-6752 VP Student Affairs, Auxiliaries, Athletics, • David Leathers 491-5509 Engineering, Campus Service Projects • Laura Streit 491-7099 Board of Governors, President’s Office, Provost, VP Offices, Library, Agricultural Sciences (Agricultural Experiment Station), Business College

  50. Consumable Inventories, Why do we do this? • Balance Sheet Asset / External Audit • Year End Inventory Count • Inventories < $100,000 counted every other year >= $100,000 counted yearly

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