The University of Montana FYE 2014 Briefing May 22, 2014 Business Services Agenda •Introductions •Office for Planning, Budgeting & Analysis (OPBA) •Payroll processing Schedule/Highlights •Payroll Redistribution Dates •Campus Cutoff Schedule •Feed File Schedule •Procedure Highlights •Break •JV Reminders •Tips & Tools for Monitoring Balances Business Services Contact List Accounting Services •Dan Jenko, Assistant Director Ext 5530 •Tara Scott, Financial Manager Ext 5802 •Melissa Reimann, Accountant/Capital Assets Ext 6628 •Luanne Felstet, Accountant Ext 2499 •Barb Bybee, Accountant •Geoffrey Lake, Campus Operations Coordinator •Accounting Services Fax # Ext 6261 Ext 6006 Ext 4929 Accounts Payable/Procurement •Kay •Ian Lamphiear, A/P Manager Robbins, Director of Procurement Ext 4935 Ext 2204 Systems •Scott Klanecky, Finance Systems Manager Ext 5558 •Frank Grady, Banner Finance Production Manager Ext 2940 Treasury Services Betty Davis Ext 4320 Management John McCormick, Interim Director Ext 2532 OPBA Contact List Dawn Ressel, Associate VP for University Planning, Budgeting and Analysis [email protected] Ext. 5661 Ed Wingard, Budget Director [email protected] Ext. 4775 Debbie Morlock, Budget Analyst [email protected] Ext. 4791 Pope Ashworth, Research & Budget Analyst [email protected] Ext. 5661 Kim Rudolph, Budget Analyst [email protected] Ext. 5647 General Funds Negative available balances Negative personnel services balances Correct negative balances by submitting a budget change or moving expenses out to another Index Code or Fund (if appropriate) Ensure Appropriate Account Codes are Used for all Expenditures *(Remember to consider benefits when correcting negative personnel balances.) Reports to use to monitor results: • UMDW Operating Statements #1 or #2 • UMDW Payroll Reports #6 or #7 Designated/Auxiliary Negative fund balances Consider impact of year end results on FY15 plans and budgets – submit a plan amendment if necessary Expense should not significantly exceed the FY14 fiscal year budget Submit budget changes as needed Report to use to monitor results: • UMDW Operating Statement #7 (shows current fund balance) General Funds/Designated/Auxiliary 6/13/14 (Friday) – Last day to submit routine/temporary budget changes *Remember RBC’s need to be signed by your Vice President Fiscal Year End - Payroll For questions please contact: Shelley Hiniker: 243-6634 [email protected] Andrea Scheuering: 243-5199 [email protected] *For Redistributions please contact your Fund or Grant Accountant. BW & MO Payroll • BW 14 online entry GTO is open June 20th. to June 24th. • Do not send RPT’s with the Monthly rosters • Submit RPT’s by June 13th if you would like them to display on the BW 14 GTO • BW 14 will post July 2nd. • BW 13, BW 14 & MO 7 Health Insurance will be FY2015 expense - $887.00/month • BW 15 will expense in total at the department level for FY15 • MO 7 will post July 1st. • New Rate Changes for FY2015. • Unemployment .45% (subject to change) • PERS 8.27% • TRS 10.95 • TIAA-CREF 10.676 SP Payroll • SP 13 will open June 19th and will close at 5:00 p.m. on June 23rd. • SP 14 will open July 2nd and will close at 5:00 p.m. on July 7th. • SP 14 – pay cycle from June 19 – July 1 will pay on July 15th – this will be an FY15 department level expense Payroll - Miscellaneous • Redistribution Schedule – • May transactions – June 10th. • June transactions – July 8th. • Redistributions into State/General fund indexes from other funding sources (such as designated, auxiliary etc.) will be reviewed by the Office of Planning, Budget and Analysis. Sufficient budget authority, for both wages and benefits, must be in place for these to occur. • Manual Checks – due to the Fiscal Year End Cash Closing process – there will be no manual checks processed from June 23rd. to July 1. Payroll Processing PAY ID PAY PERIOD DATES 6/1/2014 MO7 6/30/2014 5/19/2014 MS7 6/18/2014 6/02/2014 – SP13 6/18/2014 6/19/2014 SP14 7/1/2014 5/25/2014 BW13 6/07/2014 6/08/2014BW14 6/21/2014 6/22/2014 – BW15 7/05/2014 SPECIAL CHECK DATE BANNER ENCUMBRANC INTERFACE E RELEASE DATE DATE NHIDIST LOAD DATES 7/01/2014 7/01/2014 6/30/2014 06/30/2014 7/01/2014 7/01/2014 6/30/2014 06/27/2014 7/01/2014 7/01/2014 6/30/2014 06/27/2014 7/15/2014 7/15/2014 6/18/2014 06/13/2014 7/02/2014 7/02/2014 06/30/2014 06/30/2014 FY2015 Prepaid Insurance FY2015 Prepaid Insurance FY2015 7/16/2014 7/16/2014 07/11/2014 FY2015 7/15/2014 7/15/2015 07/11/2014 FY2015 6/18/2014 6/18/2014 07/11/2014 COMMENTS Prepaid Insurance FY2015 FYE Payroll Redistributions •Procedures & form Payroll Redistributions are for corrections to the funding sources. These cannot be processed using a journal voucher. •Deadlines 90 Day Rule – If you are processing a redistribution that has a history date of greater than 90 days you must include an exception memo which will be approved by the Director of Business Services or his assignee. Grants and Contracts must adhere to ORSP policy and procedures. •BW14 Timing Issues Review your GTO reports carefully upon completion. If there is an error – contact your HRA immediately before it completes. For FY14 this would be 2:00 pm 6/24/14. Payroll Redistribution Form http://www.umt.edu/bussrvcs/Employees/Forms.aspx Payroll Redistribution Deadlines Deadlines to have requests to Business Services… 6/10/14 – May (due by 3:00 PM) • 7/8/14 – June (due by 12:00 PM) • • Payroll Redistributions for BW14 will not be allowed Reminder: all requests for redistribution need to be processed through your Fund Accountant or your Grant Accountant, not through the Payroll Office FYE 14 Website http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx Campus Cutoff Schedule http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20End.aspx Feed File Schedule Due by July 10th at 3:00 PM •Facilities Services (work orders and postage) •Network port charges •Fixed phone charges •Long distance charges •UC Admin charges •Dining Services invoices Accounts Payable Critical Dates •June 13 Procard purchases for FY14 should be completed to ensure FY14 posting. •June13 Warrant Cancellations to AP. •June 24 5:00 Normal Check Run – checks to be issued and mailed June 25. •June 27 5:00 Procard Redistribution for June (Cycle 12 - thru 6/21). A/P CRITICAL DATES (CONT.) •July All travel, entertainment, check requests, all “Paper Requests” need to be sent to A/P for FY14 processing. Costco Receipts to A/P for FY14 Processing. 1 •July 2 5:00 A/P check run. Checks to be issued and mailed July 3. •July 7 5:00 Second Procard Redistribution for June (Cycle 13 – 6/22 thru 6/30) (Use feed date of 6/29) •July 9 5:00 Final AP check run for FY14. Checks to be issued and mailed July 10. A/P CRITICAL DATES (CONT.) •July 10 12:00 ENDS. Invoices prior to must be June 30 Direct pay processing for FY14 must be completed and approved 12:00. Items received by 6/30/14 entered and completed with a transaction date. •July 11 or GrizMart No Department / Affiliate Banner processing. •July 14 FY15 invoices processed FY15 Opens – Reminder: NO can be processed until now unless as Prepay Invoice. Reminder: July 1-10 use transaction date of 6/30/14 in both GrizMart and Banner for FY14 processing. Other Critical Dates • 7/11 FY14 Period 12 closes at 5:00 PM • 7/12 “GL and Encumbrance Roll” to FY15 • 7/14 Period 12 Reports available thru UMDW FY14 • July 14 •Invoice Processing Resumes •Journal Voucher Entry • Reverse Entries •Automated, prior to July Month End closing •Pre-Pay and Deferred Revenue, prior to July Month End closing Accounting Procedure Updates • Prepaid Expenses • Miscellaneous Accounts Receivable • Deferred Revenue • Accrued Expenses Prepaid Expenses Definitions: • Prepaid expenses are items over $500.00 that are paid during the current fiscal year, but are an actual cost for the next fiscal year. All items or services must be received or provided after June 30, 2014 to be considered a prepaid expense. These expenses are recognized as an asset (prepaid) in the current fiscal year and as an expense in the next fiscal year. This process is not applicable to Grants. Prepaid Expenses • Examples of Prepaid Expenses: • Prepaid service contracts or software licenses (under $100,000) for next fiscal year (these can be split between 2 years) • Subscriptions or membership fees for next fiscal year (these can be split between 2 years) • Expenditure transactions which are matched to deferred revenue (ie: summer session revenue) Prepaid Checklist Prepaid Expenses (Continued) Updates/Reminders: • *REMEMBER* - use the activity code PREPAY in GrizMart for non-PO payments or requisitions or meal per diems entered through GrizMart • *REMEMBER* - you can code ProCard charges directly to Prepaid account 1905 • Make sure to get supporting documentation to Barb Bybee (ext 6261) before noon on Friday, 7/11/14 • Review procedure: Prepaid Procedures http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20En d.aspx http://www.umt.edu/grizmart/GrizMart%20FAQs.php#FAQ31 Miscellaneous Receivables • The University does not record all accounts receivable in its centralized accounts receivable system, this information must be provided to Business Services. • It is the department’s responsibility to report the correct receivables and maintain and forward to Business Services the backup support for the receivables reported. • This applies to receivables that are not recorded in Banner and are owed by off-campus entities. Miscellaneous Receivables (Continued) Updates/Reminders: • No procedure changes from last year • Individual receivables greater than or equal to $25,000 require dean or director approval • Make sure to get supporting documentation in to Geoff Lake by noon Monday, 7/7/14 • Review procedure: Miscellaneous Accounts Receivable http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20 Year%20End.aspx Deferred Revenue •DEFINITION: Deferred revenue is revenue collected in the current fiscal year for services provided in the next fiscal year. This revenue is reported as a liability on the current year’s balance sheet and as revenue in the next fiscal year. •Departments that record deferred revenue include, but are not limited to: •Continuing Education •Bio Station •Dining Services •Athletics •Campus Recreation •Residence Life *Note: Summer session tuition and fees collected prior to July 1st are also recorded as deferred revenue per Montana University System policy. Deferred Revenue (continued) •Procedures: • Banner Online Departmental Deposit Form Preparation • For ease of processing deposits, please use a separate deposit card for deferred revenue transactions • Deferred revenue must be recorded with an activity code. Find the current activity code list on the link below. Please contact your Fund Accountant if a new activity code needs to be established. The activity code is the revenue account code with the ‘5’ replaced by an ‘R’ (ie; 50404 – Campus Recreation Trip Fee income activity code would be R0404) • Balance Sheet account number is 2505 – Deferred Revenue Deferred Revenue (Continued) Updates/Reminders: • No procedure changes from last year • Deadline is same for cash receipt cards (6/27/14) • Be sure to send backup to Luanne Felstet (ext 2499) and contact her with any questions • Review procedure and forms: Deferred Revenue http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year %20End.aspx Expenditure Accruals • Expenditures must be recognized in the accounting year incurred, which creates the necessity for recording expenditure accruals for valid obligations incurred but unpaid as of the end of the fiscal year. • Departments must submit requests for expenditure accruals to Business Services on or before the date posted on the Fiscal Year End Critical Cutoff • The following information along with the backup documentation must be provided to Business Services: •Identify type of accrual – ‘A’ accrual or ‘B’ accrual •Explanation and supporting documentation •Identify vendor (if vendor is another state agency, special accrual accounting is required) •Department contact person and phone number Expenditure Accruals (Continued) “A” Accruals ◦ These are for State Funds Only ◦ For Valid open orders of goods/services received After June 30th “B” Accruals ◦ These are for All Funds including State Funds ◦ Valid open orders on goods/services received on or Before June 30th, but have not yet been paid. Note: Accruals over $25,000 must include backup documentation and will need approval by the Director of Business Services. Expenditure Accruals (Continued) Updates/Reminders: • Only items $500.00 or more will be accrued • Remember * An accrual may be necessary for Procard purchases made during the last days of June (after 6/21/14) if the vendor does not process them in a timely manner • Make sure to get supporting documentation in to Tara Scott (ext 5802) before 4pm on Thursday, 7/10/14 • Review online accrual procedures http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20 End.aspx Decision Trees Prepaid Expenses Am I paying for goods or services prior to 6/30/2014 that are >$500 and relate to next year? ie. Paying for maintenance agreement in June for FY15. Is this a non-PO payment or requisition or meal per diem through GrizMart? If yes—when initiating the purchase in GrizMart use expense code and activity code PREPAY. Am I using my ProCard? If yes – use account code 1905 and provide back-up to Barb Bybee in Business Services. Decision Trees (Continued) Miscellaneous Accounts Receivable Have I provided goods or services prior to 6/30/2014, but have not received payment by 6/30/2014 and have not recorded the receivable in Banner? If all of above conditions are met—complete the form on the Business Services website for Miscellaneous Receivables. Send the completed form to Geoff Lake. With the form, send an invoice or statement as supporting documentation. For amounts > $25,000 have your Dean or Director sign the form. Decision Trees (continued) Deferred Revenue Have I collected funds for activities that will occur on or after July 1, 2014? If yes—when completing the deposit card, use account code 2505 with the activity codes established for deferred revenue. The activity codes are listed on the Business Services web-site. Decision Trees (Continued) A-Accruals Will I receive goods or services AFTER 6/30/2014, that will be paid after 6/30/2014, from a State fund and are > $500? If yes—notify Tara Scott in accounting by sending either a Purchase Order copy or a signed contract that has been initiated by 6/30/2014. Decision Trees (Continued) B-Accruals Have I received goods or services BEFORE 6/30/2014 that will be paid after 6/30/2014 and invoice is > $500? If yes—Notify Tara Scott in accounting by sending either an invoice, packing slip or a signed contract. 10 MIN BREAK UM FOUNDATION Fiscal Year End Procedures for UM Foundation Payments to UM ◦ Withdrawal Requests to Foundation Offices by Tuesday, June 24th for last ACH payment on Thursday, June 26th ◦ NO advances to index codes - transfer has to be for actual expenses incurred Exception will be made for reimbursements for June payroll expense. Expense will be an advance and will need to be cleared with June Banner report as soon as June payroll is processed All other fiscal year 2014 expenses ◦ Withdrawal requests to Foundation Offices by July 18th Clear outstanding advances by June 27 ◦ Any outstanding advance over the fiscal year-end needs an explanation as to why it’s still outstanding Exception for June payroll reimbursements. Expense will be cleared in fiscal year 2014 with June Banner report Questions ◦ Contact Jamie Stanton at 4788 Helpful Tips Enter JVs that post within your department (JD1 & JD2) ◦ This will help with faster processing ◦ Please reference the Banner document number in your JV document text Please monitor all deadlines and notify Business Services right away if unable to meet a deadline Please monitor your accounts and get your requests in to the Foundation for Gift accounts by June 24th Contact the appropriate service area with questions (Accounts Payable, Procurement, Accounting, Systems) Dates on JV’s are critical; Please specify which FY you would like to post. Please print name and phone extension on JV’s you send over to Business Services. Tools for Monitoring FYE Activity •Banner Finance •JGIBDST – Org Budget Status •FGITBSR – Trial Balance Summary • UMDW •Operating Statement •Trial Balance •Payroll UMDW Contact: Business Services Systems Bob Hlynosky Ext 2494 Banner JGIBDST Enter Index, Fund or Orgn and FY on Banner form JGIBDST Banner nets total revenues less total expenses Banner Drill-Downs & User ID Searches To see the transactions for a specific account in JGIBDST, select options and Transaction Detail (JGITRND) Banner Drill-Downs & User ID Searches (Continued) JGITRND Here are all the transactions for account 62280 Banner Drill-Downs & User ID Searches (Continued) How do I found out who entered my document (J0288872)? ◦ When searching on JGITNRD, use the bottom scroll bar find the user ID field. Banner Drill-Downs & User ID Searches (Continued) JGITRND To find the highlighted document, select options & Query Document (By Type) Banner Drill-Downs & User ID Searches (Continued) •When document number comes up; hit control page down. •FGIDOCR shows the transaction lines that were entered for the document selected. Banner FGITBSR Enter Fund and FY on Banner form FGITBSR Banner Drill-Downs & User ID Searches (Continued) Other forms for finding user ID: ◦ FOIAPPH – will show the document approver(s) as well as the originating user for most transactions. Feed documents list only Systems Banner users because they perform the final upload. Banner Drill-Downs & User ID Searches (Continued) JGIDOCR – Click on the document look-up button •Enter a query on the new form (JGQDOCN) for the selected document (J0288872) to see the User ID Banner Drill-Downs & User ID Searches (Continued) •To identify the person associated with the User ID, go to FOMPROF and query on the user ID UMDW Operating Statement • Enter your Index, Fund, or Orgn • Keep the default Fiscal year as FY14 • Run Operating Report #2 for State Accounts and Operating Report #2 or #7 for Non-State Accounts (includes fund balance) UMDW Results UMDW Trial Balance • Enter Fund • Keep default fiscal year as FY14 • Run General Report #1 Trial Balance UMDW Results UMDW Payroll •Enter Index, Fund or Orgn •Enter Acct Types •Keep •Run 61,62,63 for the Wages and Salaries only the default Fiscal Year 14 Payroll Report #7 UMDW Results Questions? FYE 2014 Briefing Thanks for Coming!