Finance Forum
12 April 2012
Welcome & Overview
• Peter Shipp
Finance and Business Services
Overview
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Intro & Welcome
Introducing Jaya Ganasan, Associate Director, Business Services
Procurement – update
FBT in the ledger
Training – update
Kush – on how it has been moving to F&BS?
“Thoughts from You” Any issues, contributions &/or suggestions
Finance Forum attendees would like to raise
Afternoon tea
Continue “Thoughts from You”
2012 Policy Action Group
Review of F&BS
What format would you like future Forums to take?
Welcome Jaya Ganasan
Associate Director, Business Services
jaya.ganasan@anu.edu.au
x58710
Procurement Update
• Ron Robertson
April 2012 – Procurement and Fleet Newsletter 2012‐1
http://info.anu.edu.au/fbs/Business_Functions/Purchasing_and_Contracts_
Office/Newsletters
UNIVERSITY PROCUREMENT & CONTRACTS OFFICE (UPCO)
FBT in the ledger
• Luke Beckett
Fringe Benefits Tax Expense Account
Report Id: Z0195038 V2.0
Operator ID:
Scope: Z0195038 - Financial Management Report No
The Australian National University
Run Date:
Financial Management Report
Run Time:
As of Date: 18/03/2012
Layo
ut
ID:
ANU
2092
4Z.x
nv
File.xlsx
Tree:
BUDGET_ACCOUNT
S_R
Fund Code: R - Recurrent Operations
Department:
Project:
Movement for Period 3
Total Income
Student Fees
Other Income
Internal Sales
Internal Allocations
Operating Grant
Investment Income
Total Income
Total Expenditure
Salaries & Related Costs
Equipment - Capital
Equipment - Non-Capital
Scholars Expenses
Utilities & Maintenance
Travel Field & Survey Expenses
Expendable Research Materials
Other Expenses
5590
Fringe Benefits Tax Payable
Prior Year Cash Result
Total (YTD Movement +
Encumbrances)
Variation
% Spent
0.00
0.00
0.00
0.00
581,818.00
0.00
581,818.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
581,818.00
0.00
581,818.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00%
0.00%
0.00%
0.00%
100.00%
0.00%
100.00%
43,208.09
0.00
0.00
0.00
0.00
0.00
0.00
581,818.00
0.00
0.00
0.00
0.00
0.00
0.00
135,780.60
0.00
0.00
0.00
0.00
0.00
0.00
443,746.67
0.00
0.00
0.00
0.00
0.00
0.00
579,527.27
0.00
0.00
0.00
0.00
0.00
0.00
2,290.73
0.00
0.00
0.00
0.00
0.00
0.00
99.61%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
(604.85)
0.00
0.00
0.00
43,208.09
0.00
0.00
0.00
($43,208.09)
0.00
0.00
$0.00
$2,895.58
0.00
0.00
0.00
0.00%
0.00%
99.50%
$2,895.58
0.00
0.00
0.00
($443,746.67)
0.00
$446,642.25
0.00%
604.85
0.00
2,895.58
($443,746.67)
$446,642.25
0.00%
604.85
(604.85)
0.00
578,922.42
0.00
0.00
0.00
$0.00
0.00
($43,208.09)
0.00
$446,642.25
604.85
(604.85)
0.00
443,746.67
$0.00
0.00
0.00
0.00
(604.85)
0.00
(604.85)
0.00
135,175.75
($43,208.09)
0.00
0.00
0.00
0.00
(604.85)
0.00
0.00
581,818.00
Net Current Year Operating Result
Net Operating Position
Outstanding Encumbrances
0.00
0.00
0.00
0.00
581,818.00
0.00
581,818.00
Current Year Operating Result
Transfers Inflow/(Outflow)
Transfer from other
Transfers to other
Transfers Inflow/(Outflow)
YTD Movement
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Fringe Benefits Tax
Other Expenses
Contingency
Total Expenditure
Budget
0.00%
0.00%
$2,895.58
$2,895.58
$2,895.58
$2,895.58
Percentage of Year Elapsed
23%
0.00
($443,746.67)
7
Fringe Benefits Tax Expense Account
Why is the Fringe
Benefits Tax Expense
Negative?
8
Fringe Benefits Tax Expense Account
• The answer is the Provision for Fringe
Benefits Tax
• A provision is raised for estimated FBT
incurred from 1 April to 31 December
– For benefits other than Meal Entertainment
coded to 5583 and Other Benefits coded to
5581
– Includes FBT on Motor Vehicles, LAFHA,
Housing, Relocation, Gifts and HECS
9
Fringe Benefits Tax Expense Account
Actual FBT Expense
for 1 April to 31 March
FBT Provision
Financial Year
End
FBT Provision for the
period 1 April to 31
December is raised
FBT Year End
FBT Provision for the
period 1 April to 31
December is reversed
10
Questions
Contact: Luke Beckett
X58739
taxunit@anu.edu.au
11
Training Update
• Margaret Eichholzer
• Remember Courses can be run on request.
• FBS028 Procurement 101 - Session 004 in
June is open for enrolments. (Session 003 is
specifically presented for CBE)
• UPCO Pulse Online Learning Course:
http://hr.anu.edu.au/career/pulse-online-learning
ANU Modules - Procurement 101: Purchasing at ANU
My move to F&BS
Kushagra Jha
Accountant
Special Purpose Funds
X 58790
My move to F&BS
Working at the Central Finance Office
School to Central
My move to F&BS
Opportunities
My move to F&BS
To sum it up..
My move to F&BS
Questions?
“Thoughts from You”
• Any issues, contributions &/or
suggestions Finance Forum attendees
would like to raise
Finance Forum
Afternoon Tea Break
“Thoughts from You” (cont.)
• Any issues, contributions &/or
suggestions Finance Forum attendees
would like to raise
2012 Policy Action Group
• Margaret Eichholzer
ANU by 2020
ANU has a devolved administrative structure, which is appropriate
for an institution which has a broad range of discipline norms and
local missions. To work efficiently, such a structure requires:
• clear organisational lines
• clear policy guidance
• efficient, integrated information systems evolved under best
practice ICT governance
http://about.anu.edu.au/__documents/strategic-plans/anu-2020-strategy.pdf
Page 24
2012 Policy Action Group (cont.)
• Consistent with this commitment in the ANU by 2020 a
new policy framework for ANU is being developed and a
review of policies/procedures/guidelines is underway.
• Representatives from all areas responsible for these are
participating.
• F&BS ensured all our policies and procedures were
reviewed in 2010 but we are aware of the need for
constant review.
2012 Policy Action Group (cont.)
• My favourite policy is: Policy: Expenditure Approvals
Policy
http://policies.anu.edu.au/policies/expenditure_approvals_policy/policy
• What is your favourite policy?
• If you have any concerns about finance related
policies/procedures/guidelines please let me know.
margaret.eichholzer@anu.edu.au
2012 review of Finance & Business
Services
• Peter Shipp
http://about.anu.edu.au/strategy-reviews/administration
F&BS would appreciate your participation in the review
please.
2012 review of Finance & Business Services
(cont.)
Purpose
• Determine if there is alignment of goals of F&BS with that of the
University’s Strategic Plan.
• Review the F & BS’s fitness for purpose, that is, the quality, efficiency
and effectiveness of services and communication between the Unit
and the University community to enable the University to meet its
strategic plan
• Review the success of the F & BS’s current continuous improvement
strategies and assess capacity of future strategies to deliver
improvements to strategic priorities and services, and the overall
contribution to the University’s culture of continuous improvement.
• Review the effectiveness of F & BS’s strategies for staff recruitment,
retention and development (including workforce planning) to meet the
core business needs.
2012 review of Finance & Business Services
(cont.)
Making a submission to the review
The reviewers would welcome written submissions to the review. If you
would like to make a submission, could you note the following;
• There is no specific template, but please frame submissions around
the Terms of Reference.
• Submissions should be no longer than 2 pages.
• Submissions are not confidential documents, and should not contain
information that could be considered personal or private.
• To ensure inclusion in the review process, submissions should be
emailed to admin.reviews@anu.edu.au by Monday, 30 April 2012.
• Information or enquiries about the review should be addressed to
admin.reviews@anu.edu.au.
What format would you like future
Forums to take?
• Margaret Eichholzer
Simple paper handout to be filled in please.
Questions?
Close!