FYE 2018 Training May 16, 2018 Business Services University of Montana FYE 2018 Training May 16, 2018 Business Services

Agenda Introduction Procurement Accounts Payable Budget Payroll UM Foundation Break Campus Cutoff Schedule Feed File Schedule Accounting Procedures JV Reminders Dan Jenko-introductions Terri Phillips-payroll Tara-Procedure Highlights

Business Services Contact List Accounting Services Tara Scott, Financial Manager Ext 5802 Barb Bybee, Accountant Ext 6261 Patrick Fagan, Accountant Ext 5742 Connor Smith, Accountant Ext 6628 Accounting Services Fax # Ext 4929 Accounts Payable/Procurement Bob Hlynosky, Accounts Payable/Procurement Ext 2494 Vickie Voss Ext 2210 Systems Scott Klanecky, Finance Systems Manager Ext 5558 Frank Grady, Banner Finance Production Manager Ext 2940 Jackson Moua, Banner Finance Production Systems Analyst Ext 2533 Treasury Services Betty Davis Ext 4320 Management John McCormick, Director Ext 2532 Dan Jenko, Associate Director Ext 5530

Procurement Encumbrance Cleanup must be completed by July 6th 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.

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 1st.

Accounts Payable Year End Dates Only Procard charges through 6/21/2018 will appear in FY18. We recommend that you complete Procard charges by June 1st to ensure FY18 posting. We are at the discretion of the merchants for processing our charges and many merchants only process weekly. Procard Cycle 12 final close at 5:00 pm June 21, 2018.

Accounts Payable Year End Dates June 21, 2018 – Final day to enter FY18 transactions, (Travel, check request, Non-PO payments) PO invoices need to be sent to A/P by 5:00 pm. July 6, 2018 – All GrizMart department approvals must be completed by 5:00 pm. If not approved they will become FY19 transactions. July 9 – FY19 GrizMart open for processing. Kay needs to update

BUDGET

Items to monitor, and possibly revise for Fiscal Year End. Contacts and Questions Keep slide for FYE18?

Year End Checks General Funds Correct negative available balances Correct negative Personnel Services (Personal Services – UMDW) You can correct these negative balances by submitting… RBC – Must be completed and turned in by 6/1/18 JV Payroll Redistribution Keep slide for FYE18?

Year End Checks Designated /Auxiliary Correct negative fund balances Consider impact of year end balances on FY19 budgets – Submit budget changes as needed You can correct these negative balances by submitting… RBC – Must be completed and turned in by 6/1/18 JV Payroll Redistribution Keep slide for FYE18?

Budget Changes General Funds RBC Keep slide for FYE18?

Budget Changes Designated & Auxiliary RBC Keep slide for FYE18?

Contact Information Karen Moore Ext 4738 Add Karen Moore as FYE18 Contact?

Fiscal Year End - Payroll For questions please contact: Andrea Scheuering: 243-5199 Andrea.Scheuering@umontana.edu Terri Phillips: 243-5703 Terri.Phillips@umontana.edu *For Redistributions please contact your Fund or Grant Accountant.

BW & MO Payroll BW 14 online entry GTO is open June 28th to July 3rd; closes at 12:00 pm (NOON) Do not send RPT’s with the Monthly rosters; RPT’s are due by June 8th Submit RPT’s by June 18th if you would like them to affect the BW 14 GTO data BW 14 will post July 6th. (Pays on July 11th) BW 13, BW 14 & MO 7 Health Insurance will be FY2019 expense - $1,054.00/month SP14 and BW15 will expense in total at the department level for FY19 BW13 and MO7 will post June 29th New Rate Changes for FY2019 Unemployment .35% (subject to change) PERS 8.67% TRS 11.35 TIAA-CREF 10.676 (same as last year)

SP Payroll SP 13 online entry GTO will open June 19th and close at 5:00 p.m. on June 21st SP 14 will open June 28th and will close at 5:00 p.m. on July 5th. SP 14 – pay cycle from June 19 – July 1 will pay on July 16th – this will be an FY19 department level expense

Payroll - Miscellaneous There will be no redistributions for BW14 in FY18. Redistributions into State/General fund indexes from other funding sources (such as designated, auxiliary etc.) will be reviewed by the Budget Office. 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 20th to July 1st.

Payroll – Miscellaneous (Continued) There will be no accruals for bi-weekly or monthly wages; these pay cycles both end on June 30, 2018. Accruals may be made for student wages earned from June 19th to July 1st (which do not pay until July 16th and are expensed to FY19) IF the wages to a single employee against a single index are $500 or more. A memo to HRS with the accrual information for the students must be submitted to Andie Scheuering no later than noon on June 29th to be in the accrual process. Include 790#, employee name, number of hours, and index. These hours must still be entered into GTO in order for the student to actually be paid.

BANNER FINANCE INTERFACE DATE ENCUMBRANCE RELEASE DATE Payroll Processing PAY ID PAY PERIOD DATES CHECK DATE BANNER FINANCE INTERFACE DATE ENCUMBRANCE RELEASE DATE NHIDIST LOAD DATES COMMENTS MO7 06/1/18 - 06/30/18 07/02/18 06/29/18 06/28/18 Prepaid Insurance FY2019 MS7 05/19/18 - 06/18/18 N/A   SP13 06/02/18 – 06/18/18 SP14 06/16/18 – 07/01/18 07/16/18 07/12/18 FY2019 BW13 06/03/18 – 06/16/18 06/27/18 06/22/18 BW14 06/17/18 – 06/30/18 07/11/18 07/06/18 07/07/18 BW15 07/01/18 – 07/14/18 07/25/18 07/20/18 SPECIAL 07/13/18

FYE Payroll Redistributions Procedures & form Payroll Redistributions are for corrections to the funding sources. These cannot be processed using a journal voucher. 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. IMPORTANT BW14 Reminder Review your GTO reports carefully upon completion. If there is an error – contact your HRA prior to process completion on July 5th. There will be no payroll redistributions for BW14 in FY18. Additional Notes for FY14: Add a note regarding – 1) Make a note if only moving a portion 2) Calendar year vs fiscal year 3) Do NOT include benefit account lines

Payroll Redistribution Form http://www. umt

Payroll Redistribution Deadlines Deadlines to have requests to Business Services… 6/6/18 – May (due by 3:00 PM) 7/2/18 – June (due by 12:00 PM) 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. NEED TO UPDATE THIS SLIDE FOR FY!*

UM FOUNDATION Fiscal Year End Procedures for UM Foundation Payments to UM All other fiscal year 2018 expenses Clear outstanding advances Questions

10 MIN BREAK

FYE 18 Website http://www. umt

Campus Cutoff Schedule PDF Version Update current dates

Campus Cutoff Schedule Excel Version Update current dates

Feed File Schedule Due Tuesday, July 3th by 3:00 PM- Invoice feeds Dining Services invoices from CBORD Facilities Services- Missoula and Dillon invoice systems Due Thursday, July 5th by 3:00 PM- JV feeds Facilities Services (work orders and postage) Network port charges Fixed phone charges Long distance charges UC Admin charges JV uploads Please do not send feed files with July transaction dates until Monday 7/9

Other Critical Dates 7/06 FY18 Period 12 closes at 5:00 PM 7/07 “GL and Encumbrance Roll” to FY19 7/09 Period 12 Reports available through UMDW

Fiscal Year19 Begins July 9 Reversing Entries Invoice Processing Resumes Journal Voucher Entry Reversing Entries Automated reversals prior to July Month End closing PRE-PAY and Deferred Revenue reversing transactions will be processed prior to July Month End closing

Accounting Procedures Prepaid Expenses Miscellaneous Accounts Receivable Accrued Expenses Deferred Revenue Capital Assets

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, 2018 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.

GrizMart Prepaid Expense: Sample Invoice

Prepaid Expense Checklist Step 1 & 2 Determine Grant or Non-Grant Index Grant Index code would start with an M followed by 5 numbers. (i.e. M28000) Determine Expense code (62xxx or other) If expense account is a 63xxx, then it is a capital purchase, which isn’t a prepaid

GrizMart Prepaid Expense: Step 3 Invoice must be over the $500 dollar minimum If the total is not greater than $500, it is not a prepaid expense

GrizMart Prepaid Expense: Step 4 Determine if the invoice is paid monthly, or annually If invoice is paid annually, or paid once for the length of the contract, it is a prepaid If invoice is paid monthly, then it is not a prepaid, and is expensed instead

GrizMart Prepaid Expense: Step 5 Determine the length of the contract period, and if the contract crosses fiscal years If the contract runs past June 30, than it crosses fiscal periods, and is a prepaid If it does not cross fiscal periods, it is not a prepaid, and is expensed

GrizMart Prepaid Expense: Step 6-8 Determine # of months prepaid If periods starts after the 15th of month, that month does not count as a current year expense; if before the 15th, it is recognized in current year 4 months current, 8 months prepaid Once the # of months prepaid is determined, calculate total prepaid expenses $10,141.39/12 = $845.12 $845.12 x 8 months = $6,760.93

T Account Summary reflecting a Prepaid Transaction

Additional Prepaid Guidelines/Tips/Updates Updates/Reminders: *REMEMBER* - use the activity code PREPAY in GrizMart for non-PO payments or requisitions or meal per diems entered through GrizMart; YOU CANNOT USE 1905 ACCOUNT CODE IN GRIZ MART *REMEMBER* - you can code ProCard charges directly to Prepaid account 1905; DO NOT USE PREPAY ACTIVITY CODE FOR PROCARD Make sure to get supporting documentation to Barb Bybee (ext 6261) before noon on Friday, 7/06/18 Review Prepaid Expense procedures on the Fiscal Year End Website.

Miscellaneous Receivables What are they? The University does not record all accounts receivable in its centralized accounts receivable system. In help ensure accurate financial statements, UM should record all valid accounts receivable due various campus departments.

Miscellaneous Receivables It is the department’s responsibility: to report the correct receivables provide to Business Services documentation to support the receivables. maintain documentation for the amounts recorded It is Business Services responsibility to review and record department receivables, and establish an allowance for doubtful accounts. We are referring to receivables that are not recorded in Banner and are owed to UM by off- campus entities.

Miscellaneous Receivables (Continued) Updates/Reminders: Review the instructions: for Miscellaneous Accounts Receivable on the FYE webpage No procedure changes from last year Individual receivables greater than or equal to $25,000 require dean or director approval

Misc. Receivables Sample Form

Miscellaneous Receivables (Continued) Make sure to get form and supporting documentation in to Connor Smith by noon Tuesday, 7/3/18 Supporting Documentation Includes: Invoices Miscellaneous A/R Reports Foundation Requests to be received FY19

Establishing a new Miscellaneous Receivable

Establishing a new Miscellaneous Receivable

Establishing a new Miscellaneous Receivable

Establishing an Allowance Allowance calculation based on aging from bill date. 0 – 90 days 5% 91-180 days 25% 181+ 50%

Establishing an Allowance Allowance calculation based on aging from bill date. 0 – 90 days 5% 91-180 days 25% 181+ 50%

Trial Balance Report

Following Year Reversing Document Following Year – Allowance: Does not get reversed, will again be adjusted at the end of FY19.

Revenue Reversed

Unpaid Receivable?

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 July 6th at 4:00 pm. 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 Add A & B Accrual definitions

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

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 6/18/18) 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 Friday, 7/6/18 Review accrual procedures on Business Services Fiscal Year End Website. Check dates with critical cut off schedule

Expenditure Accruals (Continued) Check dates with critical cut off schedule

Expenditure Accruals (Continued) Check dates with critical cut off schedule

Expenditure Accruals (Continued) Check dates with critical cut off schedule

Expenditure Accruals (Continued) Check dates with critical cut off schedule

Expenditure Accruals (Continued) Check dates with critical cut off schedule

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 1st are also recorded as deferred revenue per Montana University System policy.

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 in the Deferred Revenue procedures on the Fiscal Year End Website. 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

Deferred Revenue (Continued) Updates/Reminders: No procedure changes from last year Deposit deadline is same for cash receipt cards (11:00 am, 6/29/18) Be sure to send backup to Connor Smith (ext 6628) and contact him with any questions Review procedure and forms on the Fiscal Year End Website Include online deposit form

Trial Balance Report-Detail

Trial Balance Report

Trial Balance Report-Detail

JV to move revenue to new year

U-Approve All FY18 U-Approve JV’s must be completed and approved by 12:00 pm on Thursday, July 5th. Any U-Approve JV’s that are not completed by this deadline will be deleted. FY18 JV’s can still be keyed into Banner on Friday, July 6th before 2:00 pm. Any JV’s not completed and approved by 2:30 pm will be deleted. Check dates with critical cut off schedule

CAPITAL ASSETS INVENTORY   *COMPLIANCE WITH MT STATE LAW AND THE MT OPERATIONS MANUAL (MOM’S) *ASSETS $5000+ Check dates with critical cut off schedule

3 INVENTORY STEPS  Check dates with critical cut off schedule

1) KEEP RECORDS *INVOICES *SURPLUS CONFIRMATION EMAILS   Check dates with critical cut off schedule

2) TRACK ASSETS *LOCATION *OWNERSHIP   Check dates with critical cut off schedule

3) CONTACT BUSINESS SERVICES *SURPLUS/DESTROY/ CANNIBALIZE ASSETS *SELL *TRANSFERS   Check dates with critical cut off schedule

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 6/30/18 or earlier if you want it to post in FY18.

Tools for Monitoring FYE Activity Banner Finance JGIBDST – Org Budget Status FGITBSR – Trial Balance Summary UMDW Operating Statement Trial Balance Payroll Maybe have the Banner screens open to refer to during presentation UMDW Contact: Business Services Systems Jackson Moua Ext 2533

Questions?

FYE 2018 Training Thanks for Coming!

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

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

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

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. EXAMPLE

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

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. EXAMPLE

Enter Fund and FY on Banner form FGITBSR Banner FGITBSR Enter Fund and FY on Banner form FGITBSR EXAMPLE

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.

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

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

UMDW Operating Statement EXAMPLE 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)

UMDW Results EXAMPLE

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

UMDW Results EXAMPLE

UMDW Payroll EXAMPLE Shelley would like to add a screen shot for FY14 that shows how the “more” button works 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

UMDW Results EXAMPLE