The University of Montana FYE 2015 Briefing May 21, 2015 Business Services

Agenda Introductions Office for Planning, Budgeting & Analysis (OPBA) Procurement Accounts Payable Payroll processing Schedule/Highlights Payroll Redistribution Dates Campus Cutoff Schedule Feed File Schedule Procedure Highlights Break JV Reminders Tips & Tools for Monitoring Balances

Business Services Contact List Accounting Services Dan Jenko, Assistant DirectorExt 5530 Tara Scott, Financial Manager Ext 5802 Melissa Reimann, Accountant/Capital AssetsExt 6628 Luanne Felstet, AccountantExt 2499 Barb Bybee, Accountant Ext 6261 Lester Bracey, AccountantExt 5742 Geoffrey Lake, Campus Operations CoordinatorExt 6006 Accounting Services Fax # Ext 4929 Accounts Payable/Procurement Kay Lamphiear, A/P ManagerExt 4935 Nicole Thompson, AP SpecialistExt 2384 Lisa Coon, AP SpecialistExt 2516 Cathy Butler, AP Specialist/Procard CoordinatorExt 2113 Bob Hlynosky, ProcurementExt 2494 Systems Scott Klanecky, Finance Systems ManagerExt 5558 Frank Grady, Banner Finance Production Manager Ext 2940 Treasury Services Betty DavisExt 4320 Management John McCormick, Interim DirectorExt 2532

OPBA Contact List  Dawn Ressel, Associate VP for University Planning, Budgeting and Analysis Ext  Ed Wingard, Budget Director Ext  Debbie Morlock, Budget Analyst Ext  Pope Ashworth, Research & Budget Analyst Ext  Kim Rudolph, Budget Analyst Ext. 5647

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

Designated/Auxiliary  Negative fund balances  Consider impact of year end results on FY16 plans and budgets – submit a plan amendment if necessary  Expense should not significantly exceed the FY15 fiscal year budget  Submit budget changes as needed Report to use to monitor results: UMDW Operating Statement #7 (shows current fund balance)

General Funds/Designated/Auxiliary  6/12/15 (Friday) – Last day to submit routine/temporary budget changes * Remember RBC’s need to be signed by your Vice President

Procurement Encumbrance Cleanup Attachments (specifically contract services) Prepay PO’s before the item or service is bought. Shared Accounting Sole Source – Correct Justification May 15 th was the deadline for bids less than 500k that are not on a term contract. Also deadline for photocopiers. June 15 th requisition requests for term contracts, no bid requests. Items dated July 1 st or later will post to FY16.

Accounts Payable Year End Dates of Interest We recommend that you complete Procard charges for FY15 by June 15 to ensure FY15 posting. We are at the discretion of the merchants for processing our charges and many only processes weekly. Procard will have two redistributions for year end. June 29, 2015 for Cycle 12 – Charges thru 6/21/15 July 7, 2015 for Cycle 13 – Charges from 6/22 thru 6/30/15 (these charges will start being downloaded on the morning of the 30 th with final download for FY15 on July 1 st.) By using date of 6/29, they will download daily.

Accounts Payable Year End Dates of Interest July 1, 2015 – All Paper Requests are due in A/P by 5:00 pm (Travel, check request, PO invoices) July 6, 2015 – All GrizMart Non PO and Travel for FY15 must be entered by 5:00 pm. This will be your final entry for FY15 – Use June 30 as your Transaction Date. July 8, 2015 – All GrizMart department approvals must be completed by 5:00 pm. If not approved they will become FY16 transactions. July 9 and 10, 2015 – No department GrizMart or Banner processing. July 13 – FY16 Banner and GrizMart open for processing.

Fiscal Year End - Payroll For questions please contact: Shelley Hiniker: Andrea Scheuering: *For Redistributions please contact your Fund or Grant Accountant.

BW & MO Payroll BW 14 online entry GTO is open July 2nd to July 7 th. Do not send RPT’s with the Monthly rosters Submit RPT’s by June 13 th if you would like them to display on the BW 14 GTO BW 14 will post July 10th. (Pays on July 15) BW 13, BW 14 & MO 7 Health Insurance will be FY2016 expense - $887.00/month SP14-BW15 will expense in total at the department level for FY16 SP13, BW13 & MO 7 will post July 1 st. New Rate Changes for FY2016. Unemployment.55% (subject to change) PERS 8.37% TRS TIAA-CREF

SP Payroll SP 13 will open June 19 th and will close at 5:00 p.m. on June 23 rd. SP 14 will open July 2nd 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 FY16 department level expense

Payroll - Miscellaneous Redistribution Schedule – May transactions – June 9 th. June transactions – July 7 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.

Payroll Processing PAY IDPAY PERIOD DATES CHECK DATE BANNER FINANCE INTERFACE DATE ENCUMBRANC E RELEASE DATE NHIDIST LOAD DATESCOMMENTS MO7 6/1/ /30/20157/01/2015 6/30/201506/27/2015 Prepaid Insurance FY2016 MS7 5/19/ /18/20157/01/2015 6/30/201506/27/2015 SP13 6/02/2015 – 6/18/20157/01/2015 6/30/201506/27/2015 SP14 6/19/ /1/20157/15/ /11/2015FY2016 BW13 6/7/ /20/20157/1/ /27/2015 Prepaid Insurance FY2016 BW14 6/21/ /4/20157/15/20157/10/201507/2/201507/10/2015 Prepaid Insurance FY2016 BW15 7/5/2015 – 7/18/20157/29/ /11/2015FY2016 SPECIAL 7/15/ /11/2015FY2016

FYE Payroll Redistributions Procedures & form Payroll Redistributions are for corrections to the funding sources. These cannot be processed using a journal voucher. Deadlines 90 Day Rule – If you are processing a redistribution that has a history date of greater than 90 days you must include an exception memo which will be approved 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. For FY15 this would be 12:00 pm 7/7/15.

Payroll Redistribution Form

Payroll Redistribution Deadlines Deadlines to have requests to Business Services… 6/9/15 – May (due by 3:00 PM) 7/7/15 – 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

FYE 15 Website

Campus Cutoff Schedule

Feed File Schedule Due by July 8 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

Other Critical Dates 7/10FY15 Period 12 closes at 5:00 PM 7/11 “GL and Encumbrance Roll” to FY16 7/13 Period 12 Reports available thru UMDW

Fiscal Year16 Begins July 13 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

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

Prepaid Expenses Definitions: Prepaid expenses are items over $ 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, 2015 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.

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)

Prepaid Checklist

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, 7/10/15 Review procedure: Prepaid Procedures

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.

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, 7/7/15 Review procedure: Miscellaneous Accounts Receivable services/Employees/Fiscal%20Year%20End/default.php

Misc. Receivables Sample Form

Allowance for Uncollectible Accounts Allowance calculation based on aging from bill date. 0 – 90 days 5% days 25% %

Unpaid Receivable?

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.

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; – 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 Deadline is same for cash receipt cards (11:00 am 6/30/15) Be sure to send backup to Luanne Felstet (ext 2499) and contact her with any questions Review procedure and forms: Deferred Revenue services/Employees/Fiscal%20Year%20End/default.php

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

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.

Expenditure Accruals (Continued) Updates/Reminders: Only items $ or more will be accrued Remember * An accrual may be necessary for Procard purchases made during the last days of June (after 6/22/15) 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, 7/9/15 Review online accrual procedures End.aspx

Decision Trees Decision Trees Prepaid Expenses  Am I paying for goods or services prior to 6/30/2014 that are >$500 and relate to next year? ie. Paying for maintenance agreement in June for FY15. 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.

Decision Trees (Continued) Miscellaneous Accounts Receivable  Have I provided goods or services prior to 6/30/2015, but have not received payment by 6/30/2015 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.

Decision Trees (continued) Deferred Revenue  Have I collected funds for activities that will occur on or after July 1, 2015?  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.

Decision Trees (Continued) A-Accruals  Will I receive goods or services AFTER 6/30/2015, that will be paid after 6/30/2015, 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 7/09/2015.

Decision Trees (Continued) B-Accruals  Have I received goods or services BEFORE 6/30/2015 that will be paid after 6/30/2015 and invoice is > $500?  If yes—Notify Tara Scott in accounting by sending either an invoice, packing slip or a signed contract.

10 MIN BREAK

UM FOUNDATION UM FOUNDATION Fiscal Year End Procedures for UM Foundation Payments to UM ◦ Withdrawal Requests to Foundation Offices by Tuesday, June 23rd for last ACH payment on Thursday, June 25 th ◦ NO advances to index codes - transfer has to be for actual expenses incurred  Exception will be made for reimbursements for June payroll expense. Expense will be an advance and will need to be cleared with June Banner report as soon as June payroll is processed All other fiscal year 2015 expenses ◦ Withdrawal requests to Foundation Offices by July 17 th Clear outstanding advances by June 9 ◦ Any outstanding advance over the fiscal year-end needs an explanation as to why it’s still outstanding  Exception for June payroll reimbursements. Expense will be cleared in fiscal year 2015 with June Banner report Questions ◦ Contact Jamie Stanton at 4788

Helpful Tips Enter JVs that post within your department (JD1 & JD2) ◦ This will help with faster processing ◦ Please reference the Banner document number in your JV document text 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 June 23rd Contact the appropriate service area with questions (Accounts Payable, Procurement, Accounting, Systems) Dates on JV’s are critical; Please specify which FY you would like to post. Please print name and phone extension on JV’s you send over to Business Services.

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 Bob Hlynosky Ext 2494

Banner JGIBDST Enter Index, Fund or Orgn and FY on Banner form JGIBDST 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)

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

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

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

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.

Banner FGITBSR Enter Fund and FY on Banner form FGITBSR

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 (J ) 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 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

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

UMDW Results

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

UMDW Results

Questions?

FYE 2015 Briefing Thanks for Coming!