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1 Oklahoma FY14 Staff Finance Training. 2 Agenda 1 Objectives and Finance Goals 3 Spending Processes and Guidelines 2 Budget Overview 4 Workday Training.

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Presentation on theme: "1 Oklahoma FY14 Staff Finance Training. 2 Agenda 1 Objectives and Finance Goals 3 Spending Processes and Guidelines 2 Budget Overview 4 Workday Training."— Presentation transcript:

1 1 Oklahoma FY14 Staff Finance Training

2 2 Agenda 1 Objectives and Finance Goals 3 Spending Processes and Guidelines 2 Budget Overview 4 Workday Training 5 Questions

3 3 Objectives and Finance Goals The fiscal responsibility of every staff member ensures the forward movement of our mission to provide all children with an excellent education. Objective: All staff will build a basic understanding of the budget and spending processes and guidelines. Goals: 100% receipt collection for AMEX purchases 100% compliance in staff reimbursement processs <5% regional variance for the fiscal year Stewardship The careful and responsible management of something entrusted to one’s care.

4 4 Agenda 1 Objectives and Finance Goals 3 Spending Processes and Guidelines 2 Budget Overview 4 Next Steps 5 Questions

5 5 Budget The allocated money our region has to spend throughout the fiscal year. Forecast A monthly prediction of how we will actually spend money throughout the year. Variance How close we were to our predictions. Common Finance Terms

6 6 Oklahoma Finance Structure Budget Analyst: Jennifer Peterson Budget Manager: Justin Harlan/Lance Tackett Regional Budget Tracker: Zach Harris TLD: Abbagail Hamilton GDP: Elizabeth McCrary Alumni: MJ O’Malley TLD Functional Team Members GDP Functional Team Members

7 7 The Forecast Process You request to make purchase from your teams BT Team BT tracks team purchases Team BT reports monthly variances to Regional BT Regional BT compiles variance report and meets with BA BA approves variances and upcoming forecast Regional BT notifies team BT of forecast changes Team BT notifies team of upcoming forecast Decentralized System

8 8 Codes: The numbers we use to describe and assign charges to regions and teams. Functional Codes Denotes functional team Examples: 40 Regional Ops and TLD 90 Development Why All the Numbers? Department Codes Denotes Region or National Team 433 – Oklahoma department code Account Codes Specify exactly what was purchased Examples: Food Office Supplies Project Codes (Transaction Codes) Specify an exact project or initiative. Examples: 0060 ED Winter Retreat 1250 Excellent School Visit

9 9 So what does this mean for you? Timeliness Accuracy Responsibility Budget Overview

10 10 Agenda 1 Objectives and Finance Goals 3 Spending Processes and Guidelines 2 Budget Overview 4 Workday Training 5 Questions

11 11 Before You Buy… Please consider the following: 1.Do we have money for it? (work with your team Budget Tracker to figure this out) a.If not, can we pull savings? 2.Is my purchase in compliance? 3.Will it lead to forwarding our mission in Oklahoma? 4.What would an external stakeholder think and does it matter?

12 12 National Spending Guidelines and Per Diems Per Diems: Guidelines on how much money can be spent Flight: $320 ( 3 hrs) Lodging: $100 (moderate single) & $50 (moderate double) Food for Travel (all day): $35 Single Meals at Group Events/Conferences: Per Person per day rate: $50 $10 Breakfast $15 Lunch $25 Dinner For snacks: think smaller Mileage: $0.555/mile Expensing these items does not comply with our policy and is not allowed: –PDAs (in addition to or in place of an approved Blackberry) –Parking/speeding tickets –Tobacco products –Work-related clothing –Luggage (TFA will only reimburse the first piece of checked luggage) –Dry cleaning/laundry service –Gas costs for personal vehicles (we reimburse mileage) –Gift Cards

13 13 Teach For America has the following partnerships: National Spending Partnerships ItemWB MasonOffice Max $0.01 Savings: $0.98 $0.99 $8.93 Savings:$6.06 $14.99 $15.34 Savings: $12.65 $27.99 TFA priceline Cost Comparisons:

14 14 Guidelines: Ordering Supplies Please submit all supply requests directly to your Operations Specialist (Zach) Please plan ahead of time with your needs: submit major requests at least two weeks prior to need

15 15 Guidelines: Mileage Be efficient with your driving! –Carpool –Planning Parking Personalize Google Maps to make this quickGoogle Maps Mileage receipt: print out google/mapquest map of where you went Mileage includes price per mile: gas and wear and tear Do NOT include mileage to/from office

16 16 The Spending Process: American Express Regulations: ―Business use only ―Monthly max $7,500/statement ―If a purchase is over $5,000, use a Check Request! Card Holders: ―Coding due: 2 nd of every month for billing period (24 th -23 rd ) ―\\Natfs\public\Finance\Calendars\Fiscal_2012_AmEx_Deadlines.xlsx\\Natfs\public\Finance\Calendars\Fiscal_2012_AmEx_Deadlines.xlsx ―Approval by 6 th of every month ―Responsible for all itemized receipts and attendee lists Card Users: ―Get cardholder’s permission ―Responsible for all itemized receipts and attendee lists American Express cards are intended to be used for travel expenditures and are a privilege granted to certain employees. Occasionally, additional other expenditures may be put on the card if no other option is present (i.e. online purchases).

17 17 The Spending Process: Check Requests Facts: ―Check requests are the preferred method of payment for all Teach For America expenses. ―Check requests are to be submitted electronically with invoices attached to at least 10 days before payment is due. ―Vendors/restaurants are usually flexible in working with us. Please contact Zach first if you are unsure of how you should pay for something. What Do You Have To Do?: ―Work with me

18 18 Agenda 1 Objectives and Finance Goals 3 Spending Processes and Guidelines 2 Budget Overview 4 Workday Training 5 Questions

19 19 Workday Training Gametime! Yes, there are prizes!

20 20 Workday Training: Staff Reimbursements Your Own Money – Staff Reimbursements Submit these electronically on WorkdayWorkday Monthly reimbursements must be submitted by the deadline of the following monthdeadline Receipts are REQUIRED No reimbursement for alcohol/tobacco, gas or personal expenses All reimbursements require manager approval Make sure to use proper coding for selection, conferences, ECE Pilot, etc. Must complete a separate report for each code. (ie. One report for all regional expenses, one for all expenses related to a conference) Non-staff reimbursements, Purchase Orders and Check Requests - If you need to sign a contract for something, rent space, or have something catered, or if you are purchasing something over $5000, talk to your BT before you start to plan.

21 21 Workday Training: Practice

22 22 Workday Training: Practice Mobile App and its benefits Additional Office Hours: Calendar Invite

23 23 One day, all children in this nation will have the opportunity to attain an excellent education.


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