Agenda Design Drivers Chart of Account Structure FMS Overview (UPK) What is Changed? MSU Grants Expenditure Report (RPT_06)

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Presentation transcript:

Agenda Design Drivers Chart of Account Structure FMS Overview (UPK) What is Changed? MSU Grants Expenditure Report (RPT_06)

Design Drivers Chart of Account Capture the required level of detail for expenses and revenue to enable end users to record and report transactions and enable detailed analysis Appropriate Level of details include from Grants Perspective: Grants Project (Project identifier for recording the expenses) Fund (Driver of Grants Budgets) Department (Grants Department)

Design Drivers Grants End to end grant process from proposal writing to post-award, reporting and closeout to be captured in the system. Seamless proposal creation and submission, centralized budget management, efficient award administration, flexible billing and reporting Substantial reduction in duplicate data entry by enabling the awarded grants to flow automatically to contracts and project costing.

Chart of Account Structure

FRS to FMS chartfield mapping

6 DIGIT FRS ACCOUNT TO FMS MAPPING

FRS to FMS chartfield mapping 4 DIGIT FRS OBJECT CODE TO FMS MAPPING

Fund Codes FundFund DescriptionRequired Chartfield Combination 10Unrestricted (Operating or General Fund)Fund/Account/Department 11AuxiliaryFund/Account/Department 12Revenue Centers (Self-Support)Fund/Account/Department 13Course & Lab FeesFund/Account/Department 14Indirect Cost RecoveryFund/Account/Department 15Unrestricted LoansFund/Account/Department 16Cost Share - GRANTSFund/Account/Department/Project 18Internal AwardsFund/Account/Department/Project 19Revolving/Clearing FundFund/Account/Department 20 Federal GrantsFund/Account/Department /Project 21 State GrantsFund/Account/Department /Project 22 Local GrantsFund/Account/Department /Project 23Nongovernmental GrantsFund/Account/Department /Project 30Financial Aid - FederalFund/Account/Department/Project 31Financial Aid - StateFund/Account/Department/Project 32Financial Aid - OtherFund/Account/Department/Project 40 Loans - OtherFund/Account/Department/Project 41Loans - PERKINSFund/Account/Department/Project 42Loans - StateFund/Account/Department/Project 43Loans - FederalFund/Account/Department/Project 50Debt Service ReserveFund/Account/Department/Project 70Capital Project ReservesFund/Account/Department/Project 71Capital Projects UnrestrictedFund/Account/Department/Project 72Capital Projects - RestrictedFund/Account/Department/Project 79Investment in PlantFund/Account/Department 80Research Service CenterFund/Account/Department 90AgencyFund/Account/Department

Chartfield Combinations Chartfield Combination Editing Chartfield Combination validations will be implement in FMS. There are currently six combo edit rules defined: Fund/Account Account/Product Fund/Deptid Account/Detail Code Fund/University Event Fund/Deptid/Project ID

FMS Overview UPK

11 What is changing? ProcessesCurrent(Legacy)Future (Go Live) Chart of AccountLimited to Account and Object Code New structure comprising of 11 chartfields Grants ExpensesManual Budget Validation for check requisitions (no encumbrances) Procurement system to drive budget validation for each grants expense systemically (Pre- Encumbrance, Encumbrance and Liquidation) Grants Budget Transfers Multiple Budget Pools requiring budget transfers Broader Budget Categories requiring fewer transfers Budget and Expense Tracking Screen 19 based Budget Tracking Project Detail Report (RPT_06) distributed to each PI per associated project daily

12 MSU Grants Expenditure Report

13 Thank You