2. FYE Town Hall June 3, 2015

3. Welcome! Leila McCamey Deputy Controller and Director, SPA

4. Stewardship The careful and responsible management of something entrusted to one’s care.

5. Highlights Stefanie Furman Assistant Director, Cost Accounting and Central Operations Past: FY14 Audit & Annual Report Future: New systems & upgrade

6. FY14 Audit 2014 Annual Financial Report

7. UCB Financial Audit Findings…

8. FY14 Financial Report https://content.cu.edu/controller/annualreport/2014/

9. FY14 Supplementals http://www.cu.edu/controller/accounting-finance- system/external-reporting http://www.cu.edu/controller/accounting-finance- system/external-reporting Easier navigation within a traditional web browser …. and easier use on tablets. Easier breakout of the financial information for each campus Inclusion of Search features to zero in on items of specific interest (words, phrases, numbers) to campus leadership and readers in general Creation of Show/Hide functionality to provide zoom-in capability and more focused review options on larger tables

10. Looking Forward… What’s New? Boulder eRA PeopleSoft 9.2 (November)

11. Oracle Identity Manager (OIM) New method for requesting access to PS FIN and Marketplace. https://www.cusys.edu/ums/security/CUonly/AMPS/For ms/OIM-Access-Request-Instructions-FIN.pdf https://www.cusys.edu/ums/security/CUonly/AMPS/For ms/OIM-Access-Request-Instructions-FIN.pdf Old forms will be accepted through year-end Contact Chris.Zetterholm@Colorado.edu with any questionsChris.Zetterholm@Colorado.edu

12. Procurement Service Center Mary Martin Director of Payment Services and Travel Maria Buerman Payable Services Manager

13. Fiscal Year-End 2015 Procurement Service Center (PSC)

14. FYE2015 – June Dates June 19 (6 p.m.) – Last day to ensure posting/ payment in FY2015 for: o Paper forms (Payment Authorization, Non-employee Reimbursement, Study Subject Payment)  Submit to PSC; include all required documentation/signatures o Supplier PO/SPO invoices  Submit to PSC; subject to payment terms (typically net 30) o Payment Vouchers in CU Marketplace  Provide campus approval; include all required documentation/ signatures (e.g., Scope of Work signed and attached)

15. FYE2015 – June Dates June 23 (6 p.m.) – Last day to ensure posting/ payment in FY2015 for: o Employee travel/expense reimbursements in Concur  Provide campus approval; include all required documentation

16. FYE2015 – June Dates June 25 (6 p.m.) – Last day to ensure posting in FY2015 for: o Procurement Card expense reports in Concur  Provide campus approval; include all required documentation/signatures  Otherwise, will be accrued

17. FYE2015 – June Dates June 26 Noon – Last day to send change order requests for Purchase Orders (POs/SPOs) o Email request to Changeorder@cu.edu o Close POs so they do not roll-forward to FY2016 o Add money to POs so they will roll-forward and can be used in FY2016 POs/SPOs must have at least $1 balance in order to roll-forward to FY2016

18. FY2015 Activity after June 30 (Accruals) July 2 (noon) – The following, if received by the PSC from July 1 through July 2 at noon, will be considered June business and accrued: o PO/SPO invoices Invoices for FY2016 business should NOT be sent to the PSC until July 6 or after

19. FY2015 Activity after June 30 (Accruals) July 5 (6 p.m.) – The following, if fully approved by all department fiscal approvers/specialized approvers by July 5 at 6 p.m., will be considered June business and accrued: o Payment Vouchers  This means the PV will be in the AP Form Review workflow step in the Marketplace  Include all required documentation/signatures

20. FY2015 Activity after June 30 (Accruals) July 5 (6 p.m.) – Last day to allocate the following for accruals: o Procurement Card Reports in Concur

21. FY2015 Activity after June 30 (Accruals) – No Invoice Big Change this year – No Receipt Accruals o The PSC will not generate a journal to create the expense in June – (accrual journal) for receipts with no invoice o If you have incurred services or received goods AND do not have an invoice by July 2 nd – contact your campus Controller’s office on creating an accrual journal entry

22. FY2015 Paper Forms (No Accruals) Big Change this year – No Paper Form Accruals (Payment Authorization, Non- employee Reimbursement, Study Subject Payment) o Just follow the June 19 (6 p.m.) deadline for posting and payment of FY2015 Paper Form transactions

23. FY2015 Travel & Reimbursement (No Accruals) Big Change this year – No Travel & Reimbursement Accruals o Just follow the June 23 (6 p.m.) deadline for posting and payment of FY2015 travel/expense reimbursement transactions

24. FY2015 Procurement Card (Accruals) Procurement Card transactions dated June 30 th or prior – Speedtype Accrual: o If assigned to an expense report and allocated to a speedtype, accrual will be to the allocated speedtype o If assigned to an expense report but not allocated to a speedtype, accrual will be to the default speedtype o If not assigned to an expense report, accrual will be to the default speedtype

25. FY2015 Procurement Card (Accruals) Procurement Card transactions dated June 30 th or prior – Account Accrual: o If system-assigned or otherwise assigned to an expense type, accrual will be to the defined expense type o If the expense type is undefined, accrual will be to Account 552601 (Other Operating Supplies)

26. FY2015 Accruals o Procurement Card accruals (ACCESP) will be posted on Wednesday, July 8. You’ll see them on reports as of Thursday, July 9 o Invoice accruals (ACCAPMKT) will be posted on Friday, July 10. You’ll see them on reports as of Saturday, July 11

27. FY2015 Accruals Accruals recorded (expense/liability) on June financial statements o In June, journal will begin with “ACC…” and have a date of 6/30/2015 o In July, June accrual will be reversed Journal will begin with “ACX…” o Actual transactions will then be recorded in month processed in FY2016

28. Reminders FY2016 Activity o Do NOT send invoices/payment forms for processing until July 6 o Invoices received through July 2 at noon will be considered June business o If a PO is invoiced partially and no further invoices will occur – please send request to close the PO

29. Reminders Encumbrances o Need balance remaining on PO/SPO to use in FY2016 o Encumbrance rolls forward to July on June 30 o No need to reduce encumbrances o June statements run on July 1 will NOT show encumbrances o POs created in June will have encumbrances on reports until June 30

31. Campus Controller’s Office James Lei Assistant Director, Sponsored Projects Accounting Elizabeth Spencer Area Accountant Supervisor Kay Yang Area Accountant

32. Accrual Basis of Accounting For financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP): Transactions are recorded when they occur, irrespective of when actual cash is received or paid Revenues are recorded when earned, or when the government has the right to receive the revenue Expenses are recorded when incurred Matching principle attempts to place earnings and expenses in the same period

33. What are Accruals? To put it simply: Accruals are end-of-period adjustments Journal entries to record revenue or expense (and related receivable or payable) in the proper period

34. What Types of Expenses are Accrued? And How? “Automated” Accruals Marketplace (purchase orders, payment vouchers) Concur expenses (procurement card) HRMS accruals (pay date shift, biweekly payroll) Manual Accruals Subcontractor (sub-awards) OPEB (other postemployment benefits) Compensated absences SPOs not invoiced Other manual accruals that Liz will talk about shortly

35. A Closer Look at CU’s Automated Year-End Accruals CU Marketplace Paper forms, payment vouchers, and purchase orders ACCAP: Accrual of paper forms (PA’s, SSP’s, and NR’s). ACCAPMKT: Accrual of supplier invoices, including PO/SPO invoices and payment vouchers in the Marketplace. ACCRECEIPT: Accrual of online receiving for PO’s in the Marketplace. Concur Travel reconciliation and procurement card ACCESE: Accrual of Concur Expense System Travel Reconciliation Reports (assigned Travel Card expenses plus submitted out-of- pocket expenses). ACCEST: Accrual of unassigned Travel Card expenses. ACCESA: Accrual of unassigned Concur Expense System Cash Advances. ACCESP: Accrual of Concur Expense System Procurement Card expense reports plus unassigned procurement card expenses.

36. A Closer Look at CU’s Automated Year-End Accruals, cont. JEFY14FY13FY12 ACCAP 606,842 426,875 2,462,735 ACCAPMKT 28,744,220 20,559,048 16,638,456 ACCRECEIPT 1,561,138 1,086,393 1,449,599 ACCESE 1,247,874 1,172,746 1,138,839 ACCEST 319,440 944,851 940,779 ACCESA 362,016 523,590 250,640 ACCESP 3,652,824 3,766,694 4,636,956 Total 36,494,354 28,480,197 27,518,004 89%85%77%

37. ACCAPMKT Accrual of supplier invoices, including invoices and payment vouchers in the Marketplace Accrual logic: Transactions with a PO dated June 30 or prior that “match” (enter payable status) in Marketplace by noon on July 2 Transactions where supplier invoice received but still in workflow (not yet in payable status) e.g. no receiving or match exception with quantity or price A Closer Look at CU’s Automated Year-End Accruals, cont.

38. ACCESP Accrual of Concur Expense System Procurement Card expense reports plus unassigned procurement card expenses Accrual logic: Procurement Card Status UnassignedAssigned to Expense Report Allocated SpeedtypeDefault ST Allocated ST Account CodeDefined by expense type, or 552601 if undefined Assigned expense type (account code) A Closer Look at CU’s Automated Year-End Accruals, cont.

39. Important dates July 9 - PCard accrual on financial statements July 11 - Marketplace accrual on financial statements July 23 - Accrual reversal on financial statements

40. What Do You Need To Do? Identify what charges from FY 15 you have that have not posted through the regular procurement process or accruals Determine whether you want to manually accrue these Were the goods or services or revenue received or earned in FY15? For travel, did it take place in FY15? Is it material for your department? There is no threshold on what should be manually accrued-what is material for one department, may not be material for another You don’t need to clear these JE’s through us, but you can certainly call us for advice

41. Format for Manual Accrual **Journal ID must start with “ACC” and must have a date of 6/30/15.** Debit (+): Your FOPPS and account code to be charged for the expense Credit (-): Same FOPPS and then account code 100100 (AP Manual) OR Credit (-): Your FOPPS and the correct revenue account code Debit (+): Same FOPPS and then account code 013100 (AR Miscellaneous)

42. Payroll Deadlines June 17, 2015, Wednesday @ 5:00pm – Deadline for the Monthly Time Collection for the 6/30/15 PPE. June 17, 2015, Wednesday @ 5:00pm through June 19, 2015, Friday – Run the monthly payroll for 6/30/15 PPE. (HRMS down for processing payroll)

43. Payroll Cont’d. June 25, 2015, Thursday @ 9:30am – Deadline for printing handdrawns to the Bursar’s Offices. The Business Partners and employees will have until 11:00am, June 30, 2015 to pick up the handdrawns at the Bursar’s Office. All emergency handdrawns processed on the fiscal year end payroll are checks, not direct deposits. June 25 2015, Thursday, 5:00pm. - Deadline for the Biweekly Time Collection for 6/20/15 PPE.

44. Payroll Cont’d. June 29, 2015, Monday @ 9:00am - Deadline for processing adjustments, cancellations, and overpayments for FY2015. June 29, 2015, Monday, 11:00am – Run the biweekly payroll for 6/20/15 PPE. The payroll will be accrued as June 2015 business. (The biweekly payroll ending 7/04/15 will be processed in July [FY16] but it will be accrued into FY15 and will be able to see on financial statements on July 10).

45. Payroll Cont’d. June 30, 2015, Tuesday, all day – HRMS Production will not be available to end users while running the salary upload process. July 9, 2015, Thursday @ Noon– Departmental cutoff for PET’s. Please Do Not use July Date for PETs. If you have any questions, please contact: employeeservices@cu.edu Phone: 303-860-4200, option 2 Fax: 303-860-4299

46. Restricted Fund JEs and PETs Kathy Loudermilk Sponsored Projects Accounting Compliance Manager 30 31 34

47. DEADLINES THIS YEAR FOR CREATION AND DEPARTMENTAL APPROVAL OF 3x JEs AND CREATION OF PETs IS NOON

48. Essentially the normal monthly close date Fund 30, 31, & 34 JEs to be created AND have department approval completed by Noon All 30, 31 PETs to be created by Noon JUNE 26 NOON DEADLINE FRIDAY

49. The Question: FY15? OR FY16? From July 1 st to Final Close – WATCH THE DEFAULT DATE ON YOUR PETs AND JEs. Before you send that Cost Transfer, ask yourself the question – Do I want this to go into FY15 or FY16. If you have not passed the deadline for a JE or PET, change the date to reflect June 30 th for FY15, or use the date created for FY16

50. JULY 9 NOON DEADLINE THURSDAY Fund 30 & 31 PETs created by NOON This is the Final date for creation of PETs for FY15

51. JULY 10 NOON DEADLINE FRIDAY Fund 30, 31, & 34 JEs to be created AND have department approval completed by Noon

52. JULY 16 NOON DEADLINE THURSDAY Fund 30, 31, & 34 JEs to be created AND have department approval completed by Noon This is the Final date for creation and department approval of JEs for FY15

53. Avoiding Cost Transfer Delays Follow steps in Creating JEs and PETs Clear description that include what, when, & why Isolate the Fund 30/31 transfers from the 34s and from NON 3X transfers Provide documentation as necessary.

54. Documentation JEs - check if additional documentation is needed: Over 90 days provide the PI statement Official functions Property / Equipment Travel PETs – over 120 days provide the PI statement

55. Contacts Jim Sheppard (JEs)James.Sheppard@Colorado.edu Phone :720-235-0572James.Sheppard@Colorado.edu Karen Pella (Cost Sharing)Karen.Pella@Colorado.edu Phone: 303-735-7642Karen.Pella@Colorado.edu Patti Newton (PETs and Marketplace)Patricia.Newton@Colorado.edu Phone: 303-492-2620Patricia.Newton@Colorado.edu Kathy Loudermilk (Compliance)Katherine.Loudermilk@Colorado.edu Phone: 303-492-1679Katherine.Loudermilk@Colorado.edu Liz Spencer (Gift Funds)Elizabeth.A.Spencer@Colorado.edu Phone: 303-492-1071Elizabeth.A.Spencer@Colorado.edu

56. Gifts-In-Kind Non-cash gifts Ex: Equipment, collections June 30 th Due date for all GIK forms for gifts rec eived in FY15 http://www.colorado.edu/controller/resources/c u-formshttp://www.colorado.edu/controller/resources/c u-forms > scroll to Gift in Kind

57. Unrelated Business Taxable Income Activity that is substantially unrelated to our mission of instruction, research, and public service May result in Unrelated Business Income Tax (UBIT) Examples: Advertising, Catering, Entertainment Events June 30 th Deadline to fill out UBIT questionnaire http://www.colorado.edu/controller/sites/default/files/attached-files/ubit.pdf

58. Key Dates and Deadlines – June TCard EE Reimb PCardF.3x JEs Town Hall!

59. Key Dates and Deadlines – July Holiday F.3x JEs Dept Close PET Cutoff 2 nd Close 1 st Close Final Close

60. Year-End Checklist

61. Questions?

62. Happy New Year!