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Welcome to FY10 Year End Training

Welcome to FY10 Year End Training. May 11, 2010 1:00 – 3:00 p.m. Rockwell Hall Bohemian Auditorium. What’s New for FY10?. Not much. Just a new financial reporting system called Kuali

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Welcome to FY10 Year End Training

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  1. Welcome to FY10 Year End Training May 11, 2010 1:00 – 3:00 p.m. Rockwell Hall Bohemian Auditorium

  2. What’s New for FY10? • Not much. Just a new financial reporting system called Kuali • During this training session, we will review current closing procedures and update you on any changes that have occurred due to system or process improvements

  3. First in the Nation!!

  4. on www.kuali.org

  5. Kuali Partner Implementation Plans

  6. Kuali Help Desk • System Issues?? – Use the “Provide Feedback” link on the Main Menu

  7. Presentations today by: • Budget Office • Accounts Payable • Procurement & Contracting Services • Payroll • Accounts Receivable • Bursar • Campus Services • Financial System Services • Sponsored Programs

  8. Budget Information Presented by Becky Trentlage

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

  10. Budget News • New departments or re-mapping of existing accounts to a different • department • Deadline – May 24, 4:00 p.m. • Designated Future Commitments (DFCs) • Deadline – June 14, 4:00 p.m. • New accounts needed to support new year staffing process • Deadline – June 18, 4:00 p.m. • Draft FY11 Budget Allocations to colleges and units • Deadline – June 21, 4:00 p.m. • Final FY11 Budget Allocations released to colleges and units • Deadline – June 28, 4:00 p.m.

  11. Budget News • Budget Construction input process begins Go Live! – June 28, 4:00 p.m. • Budget Adjustments (BA) Deadline – July 12, 4:00 p.m. • Deadline for non-college areas to complete budget input into Budget Construction Deadline – July 14 • Deadline for college areas and agencies to complete budget input into Budget Construction Deadline – July 26

  12. 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 EG and RARSP sub-funds Professional Veterinary Medicine (VETMED sub-fund) Agricultural Experiment Station (EXPSTA sub-fund) CSU Extension (EXTEN sub-fund) Colorado State Forest Service (CSFS, FRP, WPF sub-funds) • Funds in excess of the carryforward limit will be swept centrally unless approved exceptions are granted.

  13. 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 14, 2010 • 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

  14. Accounts Payable Information Presented by Bob Loosley

  15. Accounts Payable & Central Receiving Contacts • Bob Loosley 491-6513 General Accounts Payable Questions • Jackie Riba 491-1363 DV/PO Questions • Terri Bedan 491-6021 Travel Questions

  16. Accounts Payable Staff • Parvin Naysary491-5019 Vendors B-F and Petty Cash • TBD491-1373 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

  17. Preparation for Year-End Accrual Process • The objective of the year-end accrual process is to recognize expenses in the proper period • Prior to June 30, Fiscal Officers will receive a listing of outstanding POs to identify documents that should be closed

  18. Disbursement Vouchers (DVs) • DVs submitted and approved by the department prior to June 29th, 4:00 p.m. will be recorded as FY10 expenses • In addition, original receipts accompanying DVs must be received in AP by 4:00 p.m. on June 29th

  19. Purchase Orders • Invoices dated June 30th and prior, received by 4:00 p.m. on July 9th, will be entered as payment requests by AP and recorded as FY10 expenses • Service and maintenance POs will be charged for any remaining un-invoiced amounts ONLY if notification from the department is received in Accounts Payable by 4:00 p.m. on July 9th

  20. Receiving • Required for goods >$5,000. (object codes 15xx, 62xx, 70xx, 82xx) • Not required for: services orders less than $5,000 orders set up as “no quantity”

  21. Year-End Accrual Process • The Adjustments/Accrual document will be available to campus through July 12th • Accounts Payable will review documents paid in FY11 to determine if an accrual adjustment is necessary • Contact Accounts Payable for additional accruals that need to be made

  22. Travel • Submit Travel vouchers with an end trip date of June 30th or prior by July 2, 4:00 p.m. to be expended in FY10 • This is especially important for travel on 53 accounts with a June 30, 2010 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 cash receipt processed to the correct fiscal year in order for the rest of the expenses to be charged appropriately.

  23. Procurement and Contracting Services Information Presented by: Frank Krappes & John Swaro

  24. Procurement and Contracting Services Deadlines Dates for Processing FY10 Procurements • May 1, 2010 through June 1, 2010 • There are various deadlines for Colorado Correctional Industries items. Please contact Stan Oakland in PCS at 491-6161 • June 1, 2010 • If you have a purchase for goods or services not requiring competition, an approved purchase requisition must be received in Procurement and Contracting Services no later than June 1, 2010.

  25. Procurement and Contracting Services Deadlines Open Purchase Orders and Service Purchase Orders for FY11: May 14, 2010-An approved requisition and any associated contract/agreement must be received in PCS no later than May 14, 2010. Requisitions submitted for next fiscal year must reference “Year 2011.” Select Year 2011 from the drop down menu under Document Overview Tab. All requisitions for open purchase order/service purchase order should be set up as “No Quantity” at the line item under the Items tab.

  26. PCARD Year End Process Transactions received by July 8th, 7:00 p.m. with the Transaction Date prior to July 1, will be charged to FY10. Note: KFS team working on a method to denote these transactions in the Action List so they can be easier to track. FY10 transactions not reallocated and approved by July 9th, 7:00 p.m. will auto post to the default account in FY10. Approval workflow includes Fiscal Officer and hospitality if applicable.

  27. PCARD Issues • Do not count on PCARD purchases that are made in late June to hit FY10. 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” PCARD transactions.

  28. Payroll Information Presented by Joanne Robel

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

  30. Payroll Issues • Final FY10 Hourly Timesheets Pay Period Ending June 18 (Payday July 2) Due Tuesday June 22nd, 12:00 noon • Clear Salary Clearing Accounts (5394xxx) Due Wednesday June 30th, 3:00 p.m. No salary may post to Salary Clearing Accts in June • Final FY10 Labor Redistributions Due Wednesday July 7th, 3:00 p.m.

  31. Payday Shift from June to July • June 18th hourly payroll (pay period ending June 4th) paid on Thursday July 1st • June 30th salary payroll paid on Thursday July 1st Please notify/remind your employees

  32. Accounts Receivable Information Presented by Trish Torrez

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

  34. Accounts Receivable Operations Issues - ARIES Billing System • Paper Documents (except DPSAs) Due June 18th, 4:00 p.m. Load Sheets • Electronic Uploads to ARIES Billing System Due June 25th, 5:00 p.m. Allow an extra day for new customers

  35. Accounts Receivable Operations IssuesDepartment Payment to Student Accounts DPSA’s • Uses Graduate Assistant Tuition Payments Discretionary Scholarships Fellowship/Sponsor Designated Scholarships (53 & 99 accounts only) • Unapproved DPSA’s - Due June 18th, 4:00 p.m. in Account Receivable Operations • Approved/routed DPSA’s - Due June 25th, 4:00 p.m. in Accounts Receivable Operations

  36. Bursar/Cashier Information Presented by Brian Grube

  37. Bursar/Cashier Contacts Bursar’s Office – Howes Street • Katie Nelson 491-1524 Cashier’s Office – Lory Student Center • Becky Everett 491-0597

  38. Bursar/Cashier Issues • Cash Receipt and Advance Deposit documents June 30th 1:00 p.m. • Checks/Cash to Cashiers Office June 30th 2:00 p.m. • Please do not accumulate receipts for one final deposit!

  39. Petty Cash & Change Funds • Return Fund Confirmations by July 1st Attach Custodian Change Form to Confirmations Use “Change in Fund Custodian” form found at busfin.colostate.edu/forms.aspx, under Treasury • Reimburse Petty Cash funds before Year-End by having having approved DV completely routed by June 29th, 4:00p.m. • Reduce/close funds no longer needed Use “Change in the Amount of the Fund” form found at busfin.colostate.edu/forms.aspx, under Treasury

  40. Campus Services Information Presented by Valerie Monahan

  41. Campus Services Contacts • Valerie Monahan 491-3001 Board of Governors, President’s Office, Provost, VP Offices, VP Research, Colorado State Forest Service, External Audit Contact, F&A/Cost issues • Heidi Barclay 491-4148 Applied Human Sciences, Veterinary Medicine, Agricultural Sciences (Agricultural Experiment Station), Liberal Arts, VP Advancement & Strategic Initiatives • Janice Inman 491-6752 Auxiliaries, Athletics, VP Student Affairs • David Leathers 491-5509 Engineering, College of Business, VP Public Affairs, VP Undergraduate Affairs • Candice Hastings 491-7099 Natural Sciences, Natural Resources, Libraries, International Programs, CSU Extension, VP Outreach-Outreach Units

  42. Campus Services Contacts Link http://busfin.colostate.edu/cs.aspx

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

  44. Consumable Inventories • Inventories counted on or before June 30th, adjust to actual as of June 30th • Inventory certificates Due July 1st, 12:00 noon

  45. Fund Receivables • Departments that do not use the Banner ARIES System will need to record their receivables using the Adjustment/Accrual Documents. • Send your Campus Services representative a copy of the Accounts Receivable aging report and reconciliation. • All revenue earned, but not billed in FY10 needs to be recorded in FY10 – Accrual Basis of Accounting • View the PDI on Accrual Accounting on the BFS Web site

  46. Account Balances at June 30th • Credit Card Clearing • Object code 6684 must have a $0 balance • Continuation Accounts • All accounts 200xxxx (xxxx=Dept number) need to be cleared ($0 balance) by July 12th

  47. Nominal Balances Closing of FY10 activity: • Aggregates the revenues earned and expenses incurred. • The difference (deficit or surplus) is posted to net assets/fund balance. • Revenue and expenses are reset for FY11. Project account revenue and expenses will reinstate in the new year • “NB” is shown as the balance type code in lookups • Previous year’s activity available on the lookup screens, using the fiscal year field.

  48. Account Attributes • Changes to account attributes (account title, responsible person, etc) • Approved/In Campus Service Action List by June 18th, 4:00 p.m. • Accounts no longer needed should be zeroed out and closed • Approved/In Campus Service Action List by June 18th, 4:00 p.m.

  49. Journal Entries • Final journal entries to all accounts including departmental approvals, due July 12th, 12:00 noon • Information on journal entry documentation requirements is available on the main B&FS website • Backup documentation for all Journal Entries must be maintained and be readily available for external audit inquiries during the months of August – November.

  50. Training Campus Services provides training in: • Reading Vista Plus Reports • Journal Entries • Accrued Accounting • Balance Inquiries • ODS for Financial Management

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