Finance Year End Workshop Finance & Accounting Agenda Ge ne - PowerPoint PPT Presentation

Finance Year End Workshop Finance & Accounting

Agenda • Ge ne ra l Budg e t a nd F ina nc e Upda te s • Ac c o unts Pa ya b le • Purc ha sing • Bursa r’ s Offic e • PCI • Que stio ns a nd Answe rs

Who are we? • Je re my DiGo rio - F ina nc ia l Busine ss Ana lyst • Po int o f E ntry fo r All F ina nc e I nq uire s • Budg e t T ra nsfe rs a nd Jo urna l Allo c a tio ns • T ra ining • Re po rting a nd Auto ma tio n • Cla udia Na ra njo -Se nio r Ac c o unta nt • E ndo wme nts • Ple dg e s • Jinnie So n-Budg e t a nd Ac c o unting Ma na g e r • Co mpe nsa tio n • T ra c king Gra nts

Overview of Budget Codes Banner • College Wide Software F • Fund - Tracks source of money • Organization - Usually managing O department • Account - Revenue or Expense A Category (See Handout). • Program - Functional Grouping for P Financial Reporting

Types of Financial Activity • Budg e t • Yo ur e stima te d re ve nue / e xpe nditure fo r a fisc a l ye a r • No b udg e ts o n re stric te d funds, the c a sh re c e ive d is yo ur “b udg e t”. • Ac tua ls • Wha t ha s b e e n spe nt – E xpe nse • Wha t ha s b e e n e a rne d – Re ve nue • E nc umb ra nc e s • Co mmitme nts to a ve ndo r/ c o ntra c to r – Purc ha se Orde r • Ro llo ve r: L e ft o ve r b udg e t mo ne y mo ve d fo rwa rd e a c h ye a r. (Ac c o unt Co de : 81420-De pa rtme nt Ca rryfo rwa rd) • Budg e t Ye a r: June 1 – Ma y 31

Systems • Ba nne r Ac c e ss • F o xlink (Se lf Se rvic e Ac c e ss) • Arg o s • Dire c t Pa y • Budg e t Ac c e ss F o rm • Arg o s • Co lle g e re po rting so ftwa re • One da y b e hind Ba nne r • E a sily pro duc e b udg e ta ry info rma tio n

Budget Reallocation • Budg e t re a llo c a tio ns a re a ppro pria te whe n: • Yo ur de pa rtme nt ne e ds to mo ve (g ive a wa y) b udg e t funds to a no the r de pa rtme nt. • Yo ur de pa rtme nt ne e ds to re c o rd re vise d e stima te s o f re ve nue o r e xpe nse s. • Whe n NOT to sub mit a b udg e t re a llo c a tio n: • Mo ving b udg e ts b e twe e n a c c o unts within the sa me fund/ o rg is unne c e ssa ry fo r b udg e t c he c king purpo se s • Ho we ve r, if de pa rtme nts pre fe r to re a llo c a te funds within diffe re nt b udg e t line s, fo r e a se o f tra c king fro m a line b y line b a sis, this is o ka y • Note : F ina nc e mo nito rs b udg e ts o n a b o tto mline b a sis. • 2* F unds do no t ha ve a b udg e t. T hus, we c a nno t mo ve a b udg e t fro m the se funds b ut ra the r we c a n mo ve a c tua ls.

Journal Entry Whe n a re Jo urna l E ntrie s a ppro pria te : • Yo ur de pa rtme nt ne e ds to mo ve a c tua l a c tivity (re ve nue re c e ive d o r pa id e xpe nse s) b e c a use it wa s c ha rg e d to the wro ng fund/ o rg / a c c o unt e rro ne o usly. • One te st to kno w if it’ s a jo urna l e ntry: yo u a re a b le to se e this tra nsa c tio n o n a b udg e t de ta il re po rt (Arg o s) unde r the re ve nue a nd/ o r e xpe nse c o lumn. • ONE ION: Yo ur de pa rtme nt ne e ds to c ha rg e a no the r E XCE PT de pa rtme nt fo r g o o ds a nd o r se rvic e s pro vide d. I n this c a se , yo u a re no t a c tua lly pa ying “c a sh” to a no the r de pa rtme nt within Ro llins so yo u wo uld sub mit a jo urna l e ntry re q ue st fo rm to po st the re ve nue to yo ur b udg e t a nd c ha rg e the e xpe nse to the re c e ive r o f yo ur g o o ds a nd/ o r se rvic e s. Ple a se no te whe n c ha rg ing inte rde pa rtme nta l re ve nue yo u must use re ve nue a c c o unt c o de 57250 whic h is the inte rde pa rtme nta l re ve nue sa le s/ se rvic e s c o de .

Tips for Managing • E nsure yo u ha ve a c c e ss to a ll yo ur b udg e ts. I f no t, sub mit a Budg e t Ac c e ss Re q ue st F o rm. • Ma ke sure yo u re c e ive the mo nthly b udg e t re po rts fo r b o th yo ur unre stric te d/ re stric te d b udg e ts. I f yo u a re no t, ple a se c o nta c t Je re my DiGo rio @ JDiGo rio @ Ro llins.e du • Use F o xL ink to tra c k spe c ific tra nsa c tio ns. • Re vie w yo ur b udg e t re po rts o n a re g ula r b a sis b ut, a t minimum, mo nthly. • Sub mit Jo urna l E ntry a nd Budg e t Re a llo c a tio n re q ue sts in a time ly ma nne r. • No te : a c c ura te ly inputting a tra nsa c tio n the first time it’ s e nte re d will re duc e time a nd e ffo rt to c o rre c t the info rma tio n.

Important Finance Dates • I nte rde pa rtme nta l Cha rg e s • Due b y 6/ 8/ 16 in o rde r to b e pro c e sse d in F Y15 All e ntrie s re c e ive d a fte r June 1 st , ple a se indic a te if this • sho uld b e c ha rg e d in F Y15 o r F Y16 • Due b y 6/ 8/ 16 in o rde r to b e pro c e sse d in F Y15 • E ve rything re c e ive d a fte r 6/ 8/ 16 will b e c ha rg e d in F Y16 • Jo urna l E ntry Re q ue sts • Due b y 6/ 15/ 16 • T he se a re a ny c o rre c tio ns o r a djustme nts • Budg e t Sho rtfa lls • Sho uld b e c le a re d b y 6/ 15/ 16, o the rwise , yo u will ro ll fo rwa rd a de fic it

Accounts Payable • T he Ac c o unts Pa ya b le o ffic e will pro c e ss invo ic e s da te d o n o r b e fo re Ma y 31st fo r g o o ds re c e ive d a nd se rvic e s re nde re d in F Y15/ 16. • All dire c t pa y re q ue sts fo r F Y15/ 16 must b e c o mple te d a nd a ppro ve d b y yo ur supe rviso r in F o xlink. Any dire c t pa y re q ue sts a nd pe nding re q ue sts re c e ive d a fte r this da te will b e c ha rg e d to F Y16/ 17. • All e xpe nse re po rts fo r tra ve l o n o r prio r to Ma y 31st ne e ds a dire c t pa y re q ue st c o mple te d a nd a ppro ve d b y yo ur supe rviso r in F o xlink. • All o utsta nding tra ve l a dva nc e s tha t ha s no t b e e n se ttle d will b e c ha rg e d to the F und-Org -Ac c o unt o n the tra ve l a dva nc e fo rm to F Y16/ 17.

Purchasing • I nvo ic e s da te d in F Y16 fo r g o o ds no t re c e ive d b y 5/ 31/ 16. T he se invo ic e s will b e pla c e d in pre pa id e xpe nse s a nd will po st in the fo llo wing fisc a l ye a r F Y17. Do nna K ling le r in Ac c o unts Pa ya b le , will b e re vie wing invo ic e s fo r the se ite ms. • All F Y16 e nc umb ra nc e s tha t ha ve no t b e e n pa id will ro ll fo rwa rd into F Y17. E nc umb ra nc e s b e c o me a n e xpe nse o nc e the pa yme nt is ma de a g a inst the PO. • I f the PO is no lo ng e r ne e de d a nd yo u ne e d the e nc umb ra nc e to b e re mo ve d, ple a se c o nta c t Jo hn Ove rb e rg e r with the se re q ue sts.

Purchasing • Pc a rd Sig no ff • 6/ 1/ 16 is the c uto ff da te b ut it c a n ta ke 1-3 b usine ss da ys fo r the tra nsa c tio n to po st to o ur b a nk. • All tra nsa c tio ns must b e sig ne d o ff in o rde r to po st to Ba nne r. Ple a se no te : o ne e ntry c a n ho ld up the e ntire e ntry • I f yo u a re ha ving tro ub le lo g g ing into the ne w Pc a rd syste m, ple a se c o nta c t Jo hn Ove rb urg e r

Bursar’s Office • Stude nt Ac c o unts • Asse ssing F ine s a nd F e e s • I f a ny fe e s a re a pplic a b le , the y must b e sub mitte d b y 5/ 16/ 16 to Julie K e ne s • Ca sh T ra nsmitta ls • Pa yme nts a nd De po sits to b e inc lude d in the c urre nt fisc a l ye a r must b e c o mple te d b y 5/ 23/ 16 • Ma de a t the Bursa r’ s Ca shie r Windo w • Co nta c t Pa t Sc he ffle r fo r mo re info rma tio n • Pe tty Ca sh Re imb urse me nts • Ma de a t the Bursa r’ s Ca shie r Windo w • Co nta c t Pa t Sc he ffle r fo r mo re info rma tio n

Questions? Jeremy DiGorio Financial Business Analyst Finance Department JDiGorio@Rollins.edu (407) 628-6321