1. AGENDA 1.Introduction (David Sturgiss) 2.Endowment – new endowment chart structure 3.Finance & Business Services – recent changes & 2014 4.Projects – overview of current projects & potentials for 2014 onward 5.2013 Year End – update on year packs & issues 6.Research Accounting – update on current issues 7.General Question time 20 November 2013Finance & Business Services1

2. Alumni Relations and Philanthropy Ashish Doshi & Janice Carruthers Endowments and Business Services 20 November 2013Finance & Business Services2

3. 3 Endowment by 2020 Grow Endowed Funds to $334M Grow Corporate Donors to $12M Secure at least 2 gifts of more than $10M Increase Workplace Giving to $500K Grow no. of bequests to 400 Grow no. of donors to 5000 Raise $500K per annum in Annual Appeal 20 November 2013Finance & Business Services

4. 4 Endowment by 2020 Alumni giving to 4% In order to ensure the above targets are met, Integrated and efficient suite of administrative systems to be established by 2015 Includes E Funds Budgeting and monitoring and Bi-annual LTIP & Corpus Reviews 20 November 2013Finance & Business Services

5. 5 Alumni Relations and Philanthropy Janice Carruthers –Associate Director, Endowment & Business Services Ashish Doshi –Finance Manager Vicki Dawes –Endowment Officer Felicity McDonald –Finance Administration & Gift Processing 20 November 2013Finance & Business Services

6. 6 Endowment Funds Remapping In 2013 to correctly align E Funds with the appropriate delegates and revised tree structures, the Endowment funds were remapped into a new structure. College funds have been completed and University Wide & Admin Funds will be remapped by Dec’13 to ensure all funds report correctly in 2014. The structure is unique to the Endowment funds and reflects the type and purpose of Endowment Fund for reporting purposes 20 November 2013Finance & Business Services

7. Fund Types Exx970 – Scholarships Exx971 – Prizes Exx972 – Renewal Funds held in perpetuity to support a broad range of causes Exx973 – Capital Infrastructure Funds earmarked for specific capital infrastructure projects Exx974 – Flexible Funds supporting a broad range of causes but are either building and yet to define their purpose or shorter term and to be spent down in their entirety 720 November 2013Finance & Business Services

8. 8 LTIP/Cash & Corpus Management Annual Distributable Amount (ADA) – is the basis of the annual Endowment budget. Determined by fund purpose and type. A calculation is applied to the asset base of each individual fund as at 31 st Dec each year (Long Term Investment Pool and Cash) Current LTIP Deemed Distribution: 4.75% Current Cash Return: 2.50% Current LTIP Return: ~15% Therefore, integral to have the mix right balancing the need for cash for expenditure and growing the fund in the longer term. In 2014 there will be a review of corpus levels to ensure the capital preservation of all Endowment funds. 20 November 2013Finance & Business Services

9. 9 E Budget 2014 and beyond 2014 Budgets to be finalized by Q1 2014 Very similar to the process of 2013 2015 Budget rounds to be finalized by Q4 2014 in line with other funds. 2015 ADA will be determined after Q3 investment and cash review and aiming for all source documentation and ADA’s to be through TM1 20 November 2013Finance & Business Services

10. 1020 November 2013Finance & Business Services

11. Finance Forum 20 th November 2013 David Sturgiss, CFO 20 November 2013

12. Finance and Business Services Update F&BS Organisational Structure ANU Strategic Imperatives F&BS’s Main Goals Key Tasks for 2014 Finance & Business Services1220 November 2013

13. F&BS Organisational Structure 20 November 2013Finance & Business Services13

14. ANU Strategic Imperatives Effective organisation. ANU will continue to develop the ANU College structure and ensure there are clear policies, procedures, reporting lines and accountabilities across the University. An integrated and efficient suite of administrative systems will be established by 2015. 20 November 2013Finance & Business Services14

15. Finance & Business Services Main Goals Deliver clear and concise policy framework. Provide strategic finance advice to the University Executive, Council and its Committees. Delivery of efficient and effective finance administration processes and systems. Lead and coordinate an effective finance administration based training program. 20 November 2013Finance & Business Services15

16. Finance & Business Services Main Goals Ensure all statutory and regulatory finance related reports and returns are completed accurately and in a timely manner. Manage, and administer, the University’s investment and treasury functions. Develop, implement, and assist in the introduction of a University-wide strategic procurement strategy. 20 November 2013Finance & Business Services16

17. Key Tasks for 2014 Additional resources into training. Improved communications. Management reporting and budgeting. Increased workflow. CI reporting. 20 November 2013Finance & Business Services17

18. Projects Trevor Langtry 20 November 2013 Finance & Business Services18

19. Proposed New Projects Procurement to Pay: Requisitioning (2014) – a simplified requisitioning with approval workflow Integration between Chemical Inventory System and P/Soft Financials (2014) Accounts Payable Workflow Rollout (2013) eProcurement (????) Replacement of CIS with P/Soft Functionlity (????) 1920 November 2013Finance & Business Services

20. Divisional Projects Cont…. Management Reporting (2014) Requirement, formats, technology, chart of accounts…. OneStop Receipting (2014) Upgrade Payment Gateway New Shopping Cart module 2020 November 2013Finance & Business Services

21. Divisional Projects Cont…. TM1 (2014): Revenue Forecasting Budget Allocation modelling Consolidate what we have Costing System (2015): Cost of Research, financial feasibility analysis, etc. 2120 November 2013Finance & Business Services

22. Divisional Projects Cont…. Others Maximo Upgrade and integration with Finance System (2014) Incorporate Land & Buildings into Asset System (2015) Mobile Device Deployment (2016) Lab Asset booking tool (2015) 2220 November 2013Finance & Business Services

23. Divisional Projects Cont…. AFS Preparation Tool (2014) Improved Project/Grant Management Tool eTender Box Contract Management System Upgrade P/Soft Financials to 9.2 or 9.3 (????) 2320 November 2013Finance & Business Services

24. AFS: End-of-Year dates and other matters Peter Shipp/Rachelle Conry 20 November 2013 Finance & Business Services24

25. 25 Important Dates 6 December – P&E Schedule 1 and Inventory Schedule 2 to be completed. Stock-takes, additions, disposals, transfers etc. to be cleared 10 January 2014 – Year-end system cut- off 20 November 2013Finance & Business Services

26. 26 Things to remember Use of narrative prefix “2013” or “2014” is important for both AR and AP processing between now and 10 January 2014 After 10 January and before 24 January if identify unrecorded income >$50,000 relating to 2013 year please contact Rachelle 20 November 2013Finance & Business Services

27. 27 Things to remember General ESP Finance access closes 5.00pm Monday 23 December (for AP/AR etc. specific detail refer to the AFS Pack) 23 December review all encumbrances and delete unnecessary items 23 December clear all purchase card transactions 10 January 2014 Year-end journal cut-off 20 November 2013Finance & Business Services

28. 28 Things to remember Ensure all PCA reports have been approved prior to23 December Ensure all leave has been approved within the HR system prior to 23 December 20 November 2013Finance & Business Services

29. Research Accounting Update on Current Issues Luke Beckett 20 November 2013Finance & Business Services29

30. 30 Research Accounting Recent Changes: –Special Purpose Funds (SPF) has changed it name from 24 October 2013 to Research Accounting (RA) –New email address is research.accounting@anu.edu.au research.accounting@anu.edu.au –APOLLO forms are going to RSD to determine composite code for HERDC purposes (Research and Non-research) 20 November 2013Finance & Business Services

31. 31 Research Accounting ARC & NHMRC Annual Statements – head start –30 Sept 2013 ARC and NHMRC statements for projects that have an end date before 30 September have been sent out. –A list of projects with end dates between 30 Sept and 31 Dec 2013 has also been sent out **ACTION – Finalise pre 30 Sept statements sent before 24 Dec 2013. Determine if projects with end date after 30 Sept will end before 31 Dec*** 20 November 2013Finance & Business Services

32. 32 Research Accounting Year End 31 December 2013 –A-133 Audit requires that all accruals are brought to account at 31 Dec. Note that these accruals need to be entered before 10 January 2014. –Audits of Project Grants as at 31 December; Statements cannot be prepared until the accrual and prepayment journals have been posted by F&BS (~ 24 January). PCA reconciliations can be prepared and RA will assist anyone needing help. 20 November 2013Finance & Business Services

33. 33 Research Accounting Improvement Projects There are currently a couple of projects going on: –Costing and Pricing Model; Clear definition of direct and indirect costs (including overheads). Policy is being developed by RSD and the DVC(R). Initial policy will be simplified with further work to happen in coming years. –Chief Investigator (CI) Reporting Program; being run by SIG. Goal is to produce a better management report for CI’s. Stakeholder consultation in the coming weeks. 20 November 2013Finance & Business Services

34. 34 Research Accounting NHMRC Changes NHMRC Direct Research Cost Guidelines have been amended so that they are more flexible and principle-based. NHMRC is providing Administering Institutions with greater flexibility to decide which Direct Research Costs of a research project need to be paid for with the Funding to achieve the project’s objectives Direct Research Costs may differ from the project costs that were identified in the Funding Application 20 November 2013Finance & Business Services

35. 35 Research Accounting NHMRC Changes Due date for the Annual Financial Report and Progress Report has been changed from 31 March to 30 April The new NHMRC Direct Research Cost Guidelines (DRC’s) that take effect from 1 January 2014 can be found here: http://www.nhmrc.gov.au/_files_nhmrc/file/grants/funding/fun ded/manage/policy/drc_principles%20guidelines_1%20janu ary_2014.pdf http://www.nhmrc.gov.au/_files_nhmrc/file/grants/funding/fun ded/manage/policy/drc_principles%20guidelines_1%20janu ary_2014.pdf 20 November 2013Finance & Business Services

36. 36 Research Accounting FBS & RSD Training Reminder GRANTS MANAGEMENT 28 November (next Thursday) Register on HORUS (FBS064) Topics including ARIES completion, Audit, Statement preparation and review, grant negotiation and ARC variations. 20 November 2013Finance & Business Services