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

Finance & Accounting

Finance Year End Workshop

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

• College Wide Software

Banner

• Fund - Tracks source of money

F

• Organization - Usually managing

department

O

• Account - Revenue or Expense

Category (See Handout).

A

• Program - Functional Grouping for

Financial Reporting

P

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
• 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
• 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 NOTto 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

E XCE PT ION: Yo ur de pa rtme nt ne e ds to c ha rg e a no the r

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

• 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

• 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
• 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 1st, 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

• 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

• 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

• 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

• 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

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

Questions?