1. FYE 2019 Training | Afternoon Session May 8th Business Services
University of Montana
FYE 2019 Training | Afternoon Session
May 8th
Business Services

2. Agenda Introduction Procurement Accounts Payable Budget Payroll
UM Foundation
Break
Campus Cutoff Schedule
Feed File Schedule
Accounting Procedures
JV Reminders
Dan Jenko - Introductions
Andrea Scheuering - Payroll
Tara - Procedure Highlights

3. 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
Leia Plaza, Accountant Ext 5342
Nan Li, Accountant Ext 5716
Accounts Payable
Nicole Thompson Ext 4935
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
Treasury Services
Betty Davis Ext 4320
Management
Dan Jenko, Associate Director Ext 5530
Dan Jenko - Introductions
Andrea Scheuering - Payroll
Tara - Procedure Highlights

4. FYE Website http://www. umt
Let’s show them, Leia to insert link.

5. Procurement

6. Procurement 5/10 Photocopiers
5/31 Bids less than $500k, not on a term contract.
6/1 Term Contracts & Requisition Requests
6/26 Encumbrance Cleanup deadline.
PO’s must be set up before, NOT after purchase.

7. Accounts Payable

8. Accounts Payable Year End Dates
6/1 Complete ProCard charges or else not in FY19
**most merchant’s process weekly
6/21 PO invoices need to be sent to A/P by 5:00 pm for FY19
(Travel, check request, Non-PO payments)
6/24 Final ProCard download to Banner from US Bank for Cycle 12
**Only ProCard charges through 6/21/2019 will appear in FY19.
6/28 ProCard Cycle 12 closes at 5:00 pm
7/2 Final check run for FY19 moved to Tuesday morning. All invoices approved by 5pm on 7/1 will print.
GrizMart department approvals by 5:00 p for FY19
7/3-5 NO Grizmart or Banner transactions posting
7/8 GrizMart reopens & Cycle 01 Procard charges are downloaded to Banner for redistribution

9. BUDGET

10. Year End Checks General Funds (31xxxx)
Correct negative available balances per INDEX – (UMDW Operating Report)
Correct negative Personnel Services (Personal Services – UMDW Operating Report)
You can correct these negative balances by submitting…
RBC – Must be completed and turned in by 5/15/19 JV
Payroll Redistribution
Keep slide for FYE18?

11. Year End Checks Designated (33xxxx)/Auxiliary (34xxxx)
Correct negative fund balances
Consider impact of year end balances on FY20 budgets – Submit budget changes as needed
You can correct these negative balances by submitting…
RBC – Must be completed and turned in by 5/15/19 JV
Payroll Redistribution
Keep slide for FYE18?

12. Contacts and Questions
Stacey Eve
Nate Thomas

13. Payroll

14. Fiscal Year End - Payroll
Contacts:
Andrea Scheuering:
For Redistributions please contact your Fund Accountant or Grant Accountant.

15. FY19 Expenses SP13 BW13 BW14 MO7 MS7
Payroll: SP, BW, MO, MS
FY19 Expenses
SP13
BW13
BW14
MO7
MS7
FY20 Expenses
SP14
BW15
Expensing, in total, at the department level
Health Insurance $1,054.00/month
New Rate Changes for FY20
Unemployment .45% (subject to change)
PERS 8.77%
TRS 11.45%
TIAA-CREF % (same as last year)

16. Payroll: SP, BW, MO, MS
6/7 RPTs due for Monthly (MO) rosters 6/14 BW13 GTO Opens 6/18 RPTs due for Bi-Weekly (BW) rosters BW13
Text in red requires update for FY19 / (Note by Leia 3/7/19)

17. Payroll: SP, BW, MO, MS 6/19 SP13 GTO Opens
6/20 Noon MO Rosters due (No RPTs accepted for MO)
6/21 SP13 GTO
6/24 Noon Manual Check Request Cut-Off
Due to the Fiscal Year End Cash Closing process –
no manual checks processed from June 24th to July 1st.
6/26 BW13 Posts & Pays
6/28 BW14 GTO Opens
Encumbrances released for all payroll cycles

18. Payroll: SP, BW, MO, MS 7/1 MO7, MS7, SP13 Pay
Payroll Redistribution Deadline
BW14 Closes (No 7p
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.
7/2 SP14 GTO Opens
7/5 SP14 GTO 5p
BW14 Posts to ledgers, not paid until 7/10
7/10 BW14 Pays

19. Payroll – Miscellaneous
There will be no accruals for bi-weekly wages, which ends June 29th. Nor will there be accruals for monthly wages, which ends June 30th.
No accruals may be made for student wages earned from June 19th to July 1st (which do not pay until July 15th ) at the department level. These amounts will be expensed in FY20.
Double check the dates in red 3/7/2019

20. Payroll Processing

21. Payroll Redistributions

22. FYE Payroll Redistributions
Purpose: To correct a funding source (budget).
Reminders:
Do not include benefits in the amount you are moving.
If partial move, please indicate.
JV / U-Approve is inappropriate.
Permanent fund moves require RPT (Request for Personnel Transaction)
Deadlines
<90 Days = No justification, No Approval
>90 Days = Justification and Business Services Director Approval
IMPORTANT BW14 Reminder:
Review your GTO reports carefully upon completion. If there is an error – contact your HRA prior to process completion on July 1st. There will be no payroll redistributions for BW14 in FY19.

23. Payroll Redistributions
Forms:
Non-Grant Payroll Redistribution Form
Deadlines to have requests to Business Services…
6/5/18 – May (due by 3:00 PM)
7/1/18 – June (due by 12:00 PM)
** Payroll Redistributions for BW14 will not be allowed **

24. UM Foundation
Text in red requires updated date 3/7/2019

25. UM FOUNDATION Payments to UM All other fiscal year 2019 expenses
Clear outstanding advances
Questions

26. 10 MIN BREAK

27. Systems

28. Feed File Schedule Due Tuesday, July 2nd by 3:00 PM- Invoice feeds
Dining Services invoices from CBORD
Facilities Services- Missoula and Dillon invoice systems
Due Wednesday, July 3rd by Noon - 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 7/8

29. Other Critical Dates 7/05 FY19 Period 12 closes at 5:00 PM
7/06 “GL and Encumbrance Roll” to FY20
7/08 Period 12 Reports available through
UMDW

30. Fiscal Year 20 Begins July 8 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

31. Accounting Procedures
Prepaid Expenses (PREPAY)
Miscellaneous Accounts Receivable
Accrued Expenses
Deferred Revenue
Capital Assets

32. PREPAY EXPENSE

33. Prepaid Expenses over $500.00 & going past June 30, 2019.
**Not applicable to Grants.

34. Additional Prepaid Guidelines/Tips/Updates
Updates/Reminders:
GRIZMART (Non-PO): Use the activity code PREPAY
1905 account invalid in GrizMart
PROCARD: Appropriate to use 1905 account
Do NOT use PREPAY activity code
DEADLINE: 7/5/2019 All supporting documentation to Barb Bybee

35. Miscellaneous Accounts Receivable

36. Why so nosey? Not everyone uses BANNER to invoice.
If you do not use BANNER your receivables are not on record with Business Services. Which means…you are shorting yourself revenue and your Fund Balance is not as high as it could be.
We need to add your accounts receivable (revenue) to our records so that you can recognize revenue in this fiscal year.
Why is this important? Next year, when you are paid for those services, we need to make sure that your income is not double counted.

37. Miscellaneous Receivables
Department Responsibility:
report correct receivables to Business Services
keep documentation to support the receivables.
Business Services Responsibility:
review and record receivables
establish an allowance for doubtful accounts.
NOTE:
Individual receivables > or = $25,000 require Dean or Director approval

38. Miscellaneous Receivables
DEADLINE:
7/3 Noon Connor Smith
Supporting Documentation Includes:
Invoices
Miscellaneous A/R reports

40. Connor Smith
Connor Smith

41. Bad Debt Collection | Allowance
What if I’m not paid?

42. Establishing an Allowance| Account 1212 Bad Debt … Collections
The longer it takes someone to pay you, the less likely you are to receive that money.
Allowance calculation based on aging from bill date.
0 – 90 days 5%
days 25% %
From 0 – 90 days, you can expect to receive 95% of the money owed to you. This is why 5% is written off to Account 1212 as “Bad Debt.”

43. Establishing & Recording an Allowance for Bad Debt
i.e.
Library has an invoice for $ The invoice is 0-90 days old,
The allowance would be 5%

44. Establishing & Recording an Allowance for Bad Debt

45. Trial Balance Report

46. Expenditure Accruals

47. 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 5th 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

48. 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.

49. 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 6/21/19) 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, 7/5/19
Review accrual procedures on Business Services Fiscal Year End Website.
Check date for red text

50. Expenditure Accruals (Continued)
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

51. Expenditure Accruals (Continued)
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

52. Expenditure Accruals (Continued)
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

53. Expenditure Accruals (Continued)
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

54. Expenditure Accruals (Continued)
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

55. 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.

56. 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; – Campus Recreation Trip Fee income activity code would be R0404)
Balance Sheet account number is 2505 – Deferred Revenue

57. Deferred Revenue (Continued)
Updates/Reminders:
No procedure changes from last year
Final deposit deadline is 11:00 am, 6/28/19
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

58. Trial Balance Report-Detail
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

59. Trial Balance Report
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

60. Trial Balance Report-Detail
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

61. JV to move revenue to new year
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

62. Can we make all of these a handout
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

63. Can we make all of these a handout
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

64. Can we make all of these a handout
Can we make all of these a handout? We can even add “supplemental hand out” link under our FYE links on our Business Services Webpage.

65. U-Approve
All FY19 U-Approve JV’s must be completed and approved by 3:00 pm on Wednesday, July 3rd.
Any JV’s not completed by 2:00 pm July 5th will be deleted.
Check dates with critical cut off schedule

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

67. 3 INVENTORY STEPS 
Check dates with critical cut off schedule

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

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

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

71. 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 6/30/19 or earlier if you want it to post in FY19.

72. 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

73. Questions?

74. FYE 2019 Training
Thanks for Coming!