1. University of Montana FYE 2016 Briefing May 18, 2016 Business Services

2. Agenda Introduction Procurement Accounts Payable Payroll processing Schedule/Highlights Payroll Redistribution Dates Campus Cutoff Schedule Feed File Schedule Procedure Highlights Break UM Foundation FYE procedures JV Reminders Tips & Tools for Monitoring Balances

3. Business Services Contact List Accounting Services Dan Jenko, Associate DirectorExt 5530 Tara Scott, Financial Manager Ext 5802 Luanne Felstet, AccountantExt 2499 Barb Bybee, Accountant Ext 6261 Patrick Fagan, AccountantExt 5742 Geoffrey Lake, Campus Operations CoordinatorExt 6006 Accounting Services Fax # Ext 4929 Accounts Payable/Procurement Kay Lamphiear, A/P ManagerExt 4935 Cathy Butler, AP Specialist/Procard CoordinatorExt 2113 Bob Hlynosky, ProcurementExt 2494 Vickie Voss,Ext 2210 Systems Scott Klanecky, Finance Systems ManagerExt 5558 Frank Grady, Banner Finance Production Manager Ext 2940 Jackson Moua, Banner Finance Production Systems AnalystExt 2533 Treasury Services Betty DavisExt 4320 Management John McCormick, DirectorExt 2532

4. OPBA Contact List  Dawn Ressel, Associate VP for University Planning, Budgeting and Analysis dawn.ressel@umontana.edu Ext. 5661  Debbie Morlock, Budget Analyst debbie.morlock@umontana.edu Ext. 4791  Pope Ashworth, Research & Budget Analyst pope.ashworth@umontana.edu Ext. 5661  Kim Rudolph, Budget Analyst kim.rudolph@umontana.edu Ext. 5647

5. 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 balances.) Reports to use to monitor results: UMDW Operating Statements #1 or #2 UMDW Payroll Reports #6 or #7

6. Designated/Auxiliary  Negative fund balances  Consider impact of year end results on FY17 plans and budgets – submit a plan amendment if necessary  Expense should not significantly exceed the FY16 fiscal year budget  Submit budget changes as needed Report to use to monitor results: UMDW Operating Statement #7 (shows current fund balance)

7. Procurement Encumbrance Cleanup must be completed by July 1 st PREPAY Activity Code must be on requisitions. Follow prepaid procedures located on FYE website May 1st was the deadline for bids less than 500k that are not on a term contract. Also deadline for photocopiers.

8. Procurement Always set up PO’s before, and not after, the item or service is purchased. All requisition requests including term contracts and bids must be entered on or before June 3 rd. New Purchase Orders dated June 4th or later will post to FY17.

9. Accounts Payable Year End Dates of Interest We recommend that you complete Procard charges for FY16 by June 10 to ensure FY16 posting. We are at the discretion of the merchants for processing our charges and many only process weekly. Procard will have one redistribution for year end. Cycle 12 charges through 6/21/2016. Cycle 12 will close at 5:00 pm June 29, 2016.

10. Accounts Payable Year End Dates of Interest June 22, 2016 – Final day to enter FY16 transactions, (Travel, check request, Non-PO payments) PO invoices need to be sent to A/P by 5:00 pm. June 30, 2016 – All GrizMart department approvals must be completed by 5:00 pm. If not approved they will become FY17 transactions. July 11 – FY17 GrizMart open for processing.

11. Fiscal Year End - Payroll For questions please contact: Shelley Hiniker: 243-6634 Shelley.Hiniker@umontana.edu Andrea Scheuering: 243-5199 Andrea.Scheuering@umontana.edu *For Redistributions please contact your Fund or Grant Accountant.

12. BW & MO Payroll BW 14 online entry GTO is open June 30, 2016 to July 5 th. RPT’s are now prepared in U-Approve Submit RPT’s by June 13 th if you would like them to display on the BW 14 GTO BW 14 will post July 11th. (Pays on July 15) BW 12, BW 14 & MO 7 Health Insurance will be FY2017 expense - $1054.00/month SP14-BW15 will expense in total at the department level for FY17 SP13, BW13 & MO 7 will post July 1 st. New Rate Changes for FY2017. Unemployment.25% (subject to change) PERS 8.42% TRS 11.15 TIAA-CREF 10.676

13. SP Payroll SP 13 will open June 20 th and will close at 5:00 p.m. on June 22nd. SP 14 will open July 5nd and will close at 5:00 p.m. on July 7 th. SP 14 – pay cycle from June 19 – July 1 will pay on July 15 th – this will be an FY17 department level expense

14. Payroll - Miscellaneous Redistributions – FINAL DATE – July 5 th. 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 23 rd. to July 1.

15. Payroll Processing PAY IDPAY PERIOD DATES CHECK DATE BANNER FINANCE INTERFACE DATE ENCUMBRANCE RELEASE DATE NHIDIST LOAD DATESCOMMENTS MO7 6/1/2016 - 6/30/20167/01/2016 6/30/201606/29/2016 Prepaid Insurance FY2017 MS7 5/19/2016 - 6/18/20167/01/2016 6/30/201606/29/2016 SP13 6/02/2016 – 6/18/20167/01/2016 6/30/201606/29/2016 SP14 6/19/2016 - 7/1/20167/15/2016 07/11/2016FY2017 BW125/22/16 – 6/4/166/15/2016 6/10/2016 Prepaid Insurance FY2017 BW13 6/5/2016 - 6/18/20166/29/2016 06/24/2016 BW14 6/19/2016- 7/2/20167/13/20167/08/201607/2/201607/08/2016 Prepaid Insurance FY2017 BW15 7/3/2016 – 7/16/20166/27/20167/27/20166/27/201607/22/2016FY2017 SPECIAL 7/15/2016 07/11/2016FY2017

16. FYE Payroll Redistributions Procedures & form Payroll Redistributions are for corrections to the funding sources. These cannot be processed using a journal voucher. Payroll runs on a calendar year vs. fiscal year Please take this into account when enter your pay period on the form. Please DO NOT include benefits in the amount you are redistributing. If you are only moving a portion of the payroll, please note that it is a partial move. Deadlines 90 Day Rule – If you are processing a redistribution that has a history date of greater than 90 days you must address justifications 3 and 4 of the non-grant payroll redistribution form and is subject to approval by the Director of Business Services or his assignee. Grants and Contracts must adhere to ORSP policy and procedures. BW14 Timing Issues Review your GTO reports carefully upon completion. If there is an error – contact your HRA immediately before it completes.

17. Payroll Redistribution Form http://www.umt.edu/business-services/forms/PayrollRedistForm.xls

18. Payroll Redistribution Deadlines Deadlines to have requests to Business Services… 7/5/16 – Final payroll redistributions due by Noon. 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

19. FYE 16 Website http://www.umt.edu/business-services/Employees/Fiscal%20Year%20End/default.php

20. Campus Cutoff Schedule http://www.umt.edu/business-services/Employees/Fiscal%20Year%20End/default.php

21. Feed File Schedule Due by July 7 th 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

22. Other Critical Dates 7/08FY16 Period 12 closes at 5:00 PM 7/09 “GL and Encumbrance Roll” to FY17 7/11 Period 12 Reports available thru UMDW

23. Fiscal Year17 Begins July 11 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

24. Accounting Procedure Updates Prepaid Expenses Miscellaneous Accounts Receivable Accrued Expenses Deferred Revenue

25. Prepaid Expenses Definitions: 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, 2016 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.

26. 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)

27. Prepaid Checklist

28. Prepaid Expenses (Continued) Updates/Reminders: *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 1905 Make sure to get supporting documentation to Barb Bybee (ext 6261) before noon on Friday, 7/08/16 Review procedure: Prepaid Procedures http://www.umt.edu/business-services/Employees/Fiscal%20Year%20End/default.php http://www.umt.edu/grizmart/GrizMart%20FAQs.php#FAQ31

29. 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.

30. Miscellaneous Receivables (Continued) Updates/Reminders: 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 Tuesday, 7/6/16 Review procedure: Miscellaneous Accounts Receivable http://www.umt.edu/business- services/Employees/Fiscal%20Year%20End/default.php

31. Misc. Receivables Sample Form

32. Allowance for Uncollectible Accounts Allowance calculation based on aging from bill date. 0 – 90 days 5% 91-180 days 25% 181+50%

34. Unpaid Receivable?

35. 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

36. Expenditure Accruals (Continued) “A” Accruals ◦ These are for State Funds Only ◦ For Valid open orders of goods/services received After June 30 th “B” Accruals ◦ These are for All Funds including State Funds ◦ Valid open orders on goods/services received on or Before June 30 th, 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.

37. Expenditure Accruals (Continued) Updates/Reminders: 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 6/22/16) 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, 7/7/16 Review online accrual procedures http://www.umt.edu/bussrvcs/Employees/Procedures/Accounting/Fiscal%20Year%20 End.aspx

38. Deferred Revenue DEFINITION: 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. Departments that record deferred revenue include, but are not limited to: Continuing Education Bio Station Dining Services Athletics Campus Recreation Residence Life *Note: Summer session tuition and fees collected prior to July 1 st are also recorded as deferred revenue per Montana University System policy.

39. Deferred Revenue (continued) Procedures: 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

40. Deferred Revenue (Continued) Updates/Reminders: No procedure changes from last year Deadline is same for cash receipt cards (11:00 am 6/30/16) Be sure to send backup to Luanne Felstet (ext 2499) and contact her with any questions Review procedure and forms: Deferred Revenue http://www.umt.edu/business- services/Employees/Fiscal%20Year%20End/default.php

41. Decision Trees Decision Trees Prepaid Expenses  Am I paying for goods or services prior to 6/30/2016 that are >$500 and relate to next year? ie. Paying for maintenance agreement in June for FY17. Is this a non-PO payment or requisition Am I using my ProCard? or meal per diem through GrizMart? If yes—when initiating the purchase in If yes – use account code 1905 and GrizMart use expense code and provide back-up to Barb Bybee in activity code PREPAY. Business Services.

42. Decision Trees (Continued) Miscellaneous Accounts Receivable  Have I provided goods or services prior to 6/30/2016, but have not received payment by 6/30/2016 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.

43. Decision Trees (continued) Deferred Revenue  Have I collected funds for activities that will occur on or after July 1, 2016?  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.

44. Decision Trees (Continued) A-Accruals  Will I receive goods or services AFTER 6/30/2016, that will be paid after 6/30/2016, 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 6/30/2016.

45. Decision Trees (Continued) B-Accruals  Have I received goods or services BEFORE 6/30/2016 that will be paid after 6/30/2016 and invoice is > $500?  If yes—Notify Tara Scott in accounting by sending either an invoice, packing slip or a signed contract.

46. 10 MIN BREAK

47. UM FOUNDATION UM FOUNDATION Fiscal Year End Procedures for UM Foundation Payments to UM All other fiscal year 2016 expenses Payments to third parties Clear outstanding advances Advances for payroll and other recurring payments Questions

48. Helpful Tips Please reference the Banner document number in your JV document text when correcting an entry 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 their deadline Contact the appropriate service area with questions (Accounts Payable, Procurement, Accounting, Systems) Dates on JV’s are critical; You must use 6/30/16 or earlier if you want it to hit FY16.

49. Tools for Monitoring FYE Activity Banner Finance JGIBDST – Org Budget Status FGITBSR – Trial Balance Summary UMDW Operating Statement Trial Balance Payroll UMDW Contact: Business Services Systems Jackson Moua Ext 2533

50. Banner JGIBDST Enter Index, Fund or Orgn and FY on Banner form JGIBDST Banner nets total revenues less total expenses

51. Banner Drill-Downs & User ID Searches To see the transactions for a specific account in JGIBDST, select options and Transaction Detail (JGITRND)

52. Banner Drill-Downs & User ID Searches (Continued) JGITRND Here are all the transactions for account 62280

53. Banner Drill-Downs & User ID Searches (Continued) How do I found out who entered my document (J0314146)? ◦ When searching on JGITNRD, use the bottom scroll bar find the user ID field.

54. Banner Drill-Downs & User ID Searches (Continued) JGITRND To find the highlighted document, select options & Query Document (By Type)

55. 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 selected.

56. Banner FGITBSR Enter Fund and FY on Banner form FGITBSR

57. 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.

58. 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 (J0314146) to see the User ID

59. 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

60. UMDW Operating Statement Enter your Index, Fund, or Orgn Leave the Fiscal year at default Run Operating Report #2 for State Accounts and Operating Report #2 or #7 for Non-State Accounts (includes fund balance)

61. UMDW Results

62. UMDW Trial Balance Enter Fund Leave fiscal year at Default Run General Report #1 Trial Balance

63. UMDW Results

64. UMDW Payroll Enter Index, Fund or Orgn Enter Acct Types 61,62,63 for the Wages and Salaries only Leave the Fiscal Year at default Run Payroll Report #7

65. UMDW Results

66. Questions?

67. FYE 2016 Briefing Thanks for Coming!