1. Placing PeopleSoft Finance on Control University of Massachusetts Boston Wednesday April 25, 2012

2. PeopleSoft Control ▸ PeopleSoft “control” feature is a tool to assist the campus in monitoring spending for the remainder of FY12 ▸ Will assist the University in meeting the 2% operating margin set forth by the UMass President’s Office ▸ Will allow the University to more closely monitor department spending ▸ If a department is not overspent and has enough available funds to cover an financial obligation, the department will not be affected by the control process ▸ All unrestricted operating funds are impacted by control ▸ State Special accounts are not impacted ▸ Project/Grant accounts are not impacted ▸ For a complete list please visit the OBFP Web Site

3. What functions does Control Affect? ▸ Some transactions will not be affected by “Control” ▸ Payroll and current encumbrances ▸ Pro-card ▸ This will be monitored separately by the Office of Budget and Financial Planning ▸ Recharges ▸ Postage, Quinn Graphics, IT, telephone, and TFA Charges ▸ All other expenses and charges will be budget checked with the system on Control, this includes: ▸ Journal entries which will move expenses into any of the affected chart-strings. ▸ Direct vouchers which do not map out to existing POs ▸ New travel authorizations ▸ New Purchase Orders ▸ Employee travel reimbursements

4. Budget Error Process ▸ If “Budget errors” are generated, there is a process that is in place to review and approve/reject transactions ▸ If a department is overspent on their budget, a budget error will be generated in PeopleSoft ▸ It is the responsibility of the department to contact the Office of Budget and Financial Planning with justification on why the expense is necessary and how the error will be corrected ▸ The Budget Office will provide guidance on how to proceed ▸ Will check all funding sources to see where the department has available funds ▸ Will assist the department with correcting the error ▸ If the error cannot be corrected ▸ There is a review committee that will meet weekly to review transactions that cannot be corrected with other funding sources

5. Review Committee Process ▸ The Controller’s Office will send a weekly budget error report to the Office of Budget and Financial Planning ▸ Review committee will meet weekly to review “budget errors” ▸ Will review the department request and take appropriate action ▸ Will Communicate with the department ▸ Will notify Controllers office of decision and accounting system update