Fiscal Year End 2014 - University of Montana

The University of Montana
FYE 2014 Briefing
May 22, 2014
Business Services
for Planning, Budgeting &
Analysis (OPBA)
•Payroll processing Schedule/Highlights
•Payroll Redistribution Dates
•Campus Cutoff Schedule
•Feed File Schedule
•Procedure Highlights
•JV Reminders
•Tips & Tools for Monitoring Balances
Business Services Contact List
Accounting Services
Jenko, Assistant Director
Ext 5530
Scott, Financial Manager
Ext 5802
Reimann, Accountant/Capital Assets
Ext 6628
Felstet, Accountant
Ext 2499
Bybee, Accountant
Lake, Campus Operations Coordinator
Services Fax #
Ext 6261
Ext 6006
Ext 4929
Accounts Payable/Procurement
Lamphiear, A/P Manager
Robbins, Director of Procurement
Ext 4935
Ext 2204
Klanecky, Finance Systems Manager
Ext 5558
Grady, Banner Finance Production Manager
Ext 2940
Treasury Services
Betty Davis
Ext 4320
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
Reports to use to monitor results:
• UMDW Operating Statements #1 or #2
• UMDW Payroll Reports #6 or #7
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
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
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
6/1/2014 MO7
5/19/2014 MS7
6/02/2014 –
6/19/2014 SP14
5/25/2014 BW13
6/22/2014 –
7/01/2014 7/01/2014
7/01/2014 7/01/2014
7/01/2014 7/01/2014
7/15/2014 7/15/2014
7/02/2014 7/02/2014 06/30/2014
Prepaid Insurance
Prepaid Insurance
7/16/2014 7/16/2014
7/15/2014 7/15/2015
6/18/2014 6/18/2014
Prepaid Insurance
FYE Payroll Redistributions
& form
Payroll Redistributions are for corrections to the funding sources. These
cannot be processed using a journal voucher.
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
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
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
Campus Cutoff Schedule
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.
Warrant Cancellations to AP.
•June 24
Normal Check Run – checks
to be issued and mailed June 25.
•June 27
Procard Redistribution for June
(Cycle 12 - thru 6/21).
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.
A/P check run. Checks to
be issued and mailed July 3.
Second Procard
Redistribution for June
(Cycle 13 – 6/22 thru 6/30)
(Use feed date of 6/29)
Final AP check run for FY14. Checks
to be issued and mailed July 10.
•July 10
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
•July 14
FY15 invoices
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
• 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
• 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
• *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
• Make sure to get supporting documentation to Barb Bybee (ext 6261) before
noon on Friday, 7/11/14
• Review procedure: Prepaid Procedures
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
• 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
Deferred Revenue
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.
that record deferred revenue include, but are not limited to:
•Continuing Education
•Bio Station
•Dining Services
•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
• 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
• 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
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
 “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
• 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,
• Review online accrual procedures
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
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
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
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
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.
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
◦ 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
•JGIBDST – Org Budget Status
•FGITBSR – Trial Balance Summary
•Operating Statement
•Trial Balance
UMDW Contact: Business Services Systems
Bob Hlynosky Ext 2494
Fund or
Orgn and
FY on
nets total
less total
Banner Drill-Downs & User ID
To see the transactions for a specific account in JGIBDST,
select options and Transaction Detail (JGITRND)
Banner Drill-Downs & User ID
Searches (Continued)
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)
 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
Fund and
FY on
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
UMDW Results
UMDW Trial Balance
• Enter Fund
• Keep default fiscal year as FY14
• Run General Report #1 Trial Balance
UMDW Results
UMDW Payroll
Index, Fund or Orgn
•Enter Acct Types
61,62,63 for the Wages and Salaries only
the default Fiscal Year 14
Payroll Report #7
UMDW Results
FYE 2014 Briefing
Thanks for Coming!