Finance User Group
08-10-00 9:00 a.m.
08-11-00 9:00 a.m.
Central Lakes College, C229
MINUTES
Current Status
Went through the current status document.
Internal Audit Update
• Accounts Payable project.
• PSEO - Jennifer handed out a document - Internal Audit System-wide Audit Proposal.
• Network Security proposal.
Everything is on the Internal Audit’s website. Try to get away from paper copies.
CIP Project
Proposal - get from Karen all the CIPs that need to be in accounting. Then check the institutions and
add the ones that aren’t there and inactive the ones that aren’t needed. Student and Finance are in
sync. HR aren’t in sync. If 4 roll up to 6. Student side will be all at a 6 digit. For example, Physics.
You wouldn’t have to have a cost center for Physics if less than “full-time” faculty member. You
might need to offer Physics because of Engineering so then charge it to Engineering. We were missing
some key CIPs that have now been added. Teri thought at the end of the month. Finance CIP - 2, 4, or
6. If allocation says only 4 then can’t have 6 - can only have 4. We will send out instructions. Where
do you have your awards (degrees)? - Start out there.
Taskforce - non-credit instruction. To look at continuing Ed and look at this activity and how they
want to measure it.
Credit Card Refund
Was charged on parent’s credit card and then when refund received a check to the student. The parent
wasn’t happy and reported to the Better Business Bureau. Is it a legal issue? Teri suggested putting
this into a functional spec. and it would ask you “this payment was made by a credit card - do you want
to refund the credit card?” Then it would write a EG instead of a PG and then the user would need to
swipe the credit card. Dave Thorne said NO! because we are working on something that isn’t in the
Top Ten. If there is a legal issue - 6 yes and 2 no.
Financial Statement Status
• Working on operating leases that is due to Dept. of Finance soon.
• Testing on Accounts Payable.
• Connie will send something out to get Interfund Transfers completed.
• Clearing - not easy to reconcile. Don’t focus on getting down to the penny but make a couple of
adjustments if you are way off.
•
•
Program released from QC last week. Beginning balances need to be scripted in by Al. Programs
will be added back to the correct security groups so the institutions can run these reports. There
isn’t a hard deadline yet.
Hired new staff at the System Office.
MAPS Interface - CA/CI
Change of the fiscal year and a lot of transactions bombing.
Part A - Could solve this by summing these transactions so less transactions sent to MAPS. This was
approved.
Part B - need input from Rosalie on. Creating some charge backs - expenditure reductions - tran. can’t
go through until expenses. For example, car and GEN and Auxiliary appropriations involved. Need
an expense for it to go through.
We need to do some research why MAPS has the edit to not accept negative transactions.
Customized Training
Fund 120 is for purpose of grabbing data as defined in Regional Meeting. Contract training - revenue
and expenses. Excess Revenue. It was customized training. This doesn’t mean that customized will
only have control fund 120.
Security
• Deb asked Larry to update group on where the AR security changes are at.
Accounts Receivable - Write-offs
Write-off process was defined late and should have been defined early because getting hit on audits.
Margaret handed out Dept. of Finance’s Writing-off Uncollectible Accounts operating policy and
procedure. What does the user group want to see in the write-off process? Get procedures and
guidelines to Dave to do the business process model. Mass write-offs? Write-offs per individual
accounts? What happens to the student’s account? Is the student prevented from registering?
Removal of a particular receivable from your assets and ?. I have written this off but at a later date I
can get it. So, it has to be coded different than a waiver. Don’t remove the record and say you never
have to pay it back. Balance written off at a certain date and need to say the reasoning because if
bankruptcy then can’t go after it. No bills - when bankruptcy and MCE. MCE you don’t write-off you write-off when they come back from MCE.
Billing Status code - bankruptcy - debt is forgotten. Hold status - that you could get the money later.
Would like a hold code on registration so it would flag the student.
Write-offs bring your receivables to zero. If payment then bring receivable back in and take payment.
Write-off in some cases don’t allow to come back to school but in other cases let them come back to
school (For example, bankruptcy).
Make sure in accounting you can see that this isn’t a waiver.
Write-off versus adjustment - Waiver would be considered the same as an adjustment.
Range of time of when do you give up? What about how much?
Write-off once MCE comes back to us.
Parameters - Dates and amounts and then write-off. Be able to go into individual acct. or mass.
MCE - not a write-off but not bill them and put on holds. No acct. trans.
Bankruptcy - acct. tran. Institution option to put on hold
Write-offs - No billing. Hold on acct.
Reduces 9001. Be able to select one of these 9 reasons (Department of Finance).
You write-off and then in a quarterly report you show what you have written-off.
The group decided MnSCU should follow the Dept. of Finance Policy and Procedure.
ITS - Steering Committee
Larry couldn’t make it.
Finance User Group
Meeting minutes will no longer be taken by the Business Analysts. The Finance User Group will take
this over. Option - hosting campus - will maybe offer a clerical person or staff person.
Membership - 3 new members come on in October.
Top Ten
To Do Items.
CIP Project - Karen will send out list of CIP codes.
Application Fee - Karen will send out an e-mail to see what the institutions are doing.
Meeting adjourned at 3:30 p.m. on 08-10-00.
Meeting adjourned at 1:00 p.m. on 08-11-00.