Transaction Processing Bursar, Budget and Procurement Procedures

1
Transaction Processing Bursar, Budget and
Procurement Procedures

• Presented by the departments of
• Procurement
• Comptrollers Office
• University Budget Office
• Bursars Office
• sponsored by the department of
• Business Administrator Services as part of the
  Departmental Fiscal Management workshop series

2
Overview of the Presenters

• Procurement Department
• How to Procure Goods and Services
• The Comptrollers Office
• Using the Lotus Notes IDC Database
• University Budget Office
• Budget Transactions
• The Bursars Office
• Check Distribution Return Processes, Accounts
  Receivable Other, and Deposit Procedures

3
How to Procure and Payfor Goods and Services

• Presented by
• the Procurement Department

4
Presenters

• John Flasco
• Director, Procurement
• jflasco_at_kent.edu
• Sid Maruna
• Assistant Manager of Procurement
• smaruna_at_kent.edu

5
Procurement Topics to Be Covered in This
Presentation

• Services of the Procurement Department
• Competitive Bidding
• Purchase Requisitions and Purchase Orders
• Purchasing Card
• Check Requests
• Independent Contractor vs. Employee Status
• Expense Reimbursement

6
Services of the Procurement Department

• The first two things to consider when
  contemplating any purchase
• Contact the Procurement Department for advice and
  direction on sourcing possibilities.
• The amount of the expenditure will help to
  determine how to proceed in making the purchase.

7
Services of the Procurement Department

• University Policy 3342-5-23
• http//www.kent.edu/policyreg/
• The Procurement Department
• http//financial.kent.edu/procurement
• See Commodity Classifications for contact
  information

8
Services of the Procurement Department

• Coordinates all purchasing activities
• Establishes vendor contracts to make purchases in
  the most economical way
• Ensures that KSU is in compliance with local,
  state, federal laws, and University policy.

9
Services of the Procurement Department

• Partnerships and long-term contracts may already
  be in place to provide low cost goods and
  services.
• Requirements may be bundled together to maximize
  the value obtained through the process.
• Can possibly save transaction time and
  unnecessary effort.
• (Note Do not sign vendors forms.)

10
Competitive Bidding

• A major planned expenditure will need to be
  competitively bid if you anticipate purchasing
• Equipment, materials, or supplies over 25,000
• Services over 50,000
• Construction projects over 50,000
• University Policy on Competitive Bidding policy
  3342-5-23 in the University Policy Register

11

• Purchase Requisition

• A Purchase Requisition, or purchase req., is
  only a request in the beginning.
• Defines the requirement
• Authorizes the expenditure

12
Purchase Requisitionand Purchase Order

• Complete a Purchase Requisition (available to
  complete and print from the Procurement website
  under Policies, Manuals, and Forms)
• Obtain the appropriate signatures
• Send it to Procurement-Purchases
• A Purchase Order is then created by the
  Procurement Department from the Purchase
  requisition.

13
Purchase Requisitionand Purchase Order

• A Purchase Order (PO) is needed for purchases of
  2,500 or more
• Signing the Purchase Requisition authorizes (or
  approves) that the costs for this purchase will
  be charged to the account number(s) shown on the
  Purchase Requisition.

14
Purchase Requisitionand Purchase Order

• Where invoices match the PO, no further
  signatures are required in order for the
  Procurement department to process payment for the
  order after the goods or services have been
  received.
• Where invoices do not match the PO authorized
  signatures are necessary.

15
Purchase Requisitionand Purchase Order

• The dollar amount of the Purchase Order will
  appear on your FRS monthly statement in the Open
  Commitments section, except for certain PO types
  (examples blanket PO and open order).
• This is also called an encumbrance on your
  account.
• Be sure to check your FRS statement each month to
  verify the amounts that have been paid on
  purchase orders.

16
Purchase Requisitionand Purchase Order

• When Procurement-Payments makes a payment, it
  will appear in your Account Statement in the
  Liquidating Expenditures column, and in your
  Report of Transactions in the expense and
  commitments columns
• When all payments have been made for this P.O.,
  it will be removed from the Open Commitments
  section.

17
Purchasing Card

• The Purchasing card (or p-card) is a credit
  card used to make purchases on behalf of a
  department at Kent State University.
• Administration of the Purchasing card is handled
  through the Procurement Department.

18
Purchasing Card

• Purchasing cards are issued in the name of an
  employee, but cannot be used for personal
  purchases.
• Your personal credit history and credit rating
  will not be affected.

19
Purchasing Card How It Works

• The Purchasing card works just like any other
  credit card in most respects.
• Use it in person, over the internet, through the
  mail, or over the phone.
• You can use it to purchase most goods and
  services under 2,500 per transaction

20
Purchasing Card - Benefits

• Convenient easy to use vendor receives timely
  payment
• Record-keeping is simple
• 24-hour on-line access to your account status
• You receive a monthly statement of account
  activity (on-line and hard copy versions)
• Card Financials On-line http//www.usecfo.com

21
Purchasing Card What You Can Pay For

• Memberships and subscriptions
• Small office equipment (pcs, printers)
• Freight and shipping charges (FedEx, UPS, etc.)
• Office and lab supplies
• Conference and workshop registrations
• Maintenance agreements

22
Purchasing Card - Restrictions

• Card program standard default limits
• 2,500 per transaction
• 25,000 limit per month
• No travel-related purchases (no airfare, vehicle
  rentals, lodging, meals, gasoline)

23
Purchasing Card

• Some merchants and commodities are restricted, or
  unavailable, for card purchases (florists,
  restaurants, alcoholic beverages, etc.)
• If you attempt to use your card for these or
  other restricted purchases, it will be declined.
• Check with the Procurement Department if you are
  unsure about a purchase.

24
Purchasing Card Things to Remember

• Perform timely statement reconciliations
• Prevent double payments to vendors (payments
  through both p-card and check request)
• Remind all authorized card users about the
  Universitys sales tax exemption
• Submit the reconciled Purchasing Card Payment
  Form to Procurement-Payments by the 15th of each
  month

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Purchasing Card

• If you have questions regarding use of the card
  or problems with declines
• Contact the Procurement Department
• Payments - 22607
• Purchases - 22276
• The Purchasing Card Manual is available on the
  Procurement website at http//finance.kent.edu/pro
  curement
• Look under Policies, Manuals, and Forms

26
Check Request

• Used to pay for goods less than 2,500 or
  services up to 50,000 obtained from
• an independent contractor
• a vendor that does not accept the Purchasing card
• a vendor restricted from the Purchasing card

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Check Request

• The Check Request form is available on the
  Procurement website under Policies, Manuals, and
  Forms

28
Check Request

• How to process a Check Request
• Complete description of expense
• Obtain appropriate authorization signatures
• Attach original documentation (invoice,
  registration form, etc.) to avoid duplicate
  payment
• Send originals to Procurement-Payments

29
Check Request

• Printing T.P.R. (Top Priority Request) at the
  top of your check request alerts staff in
  Procurement-Payments that this check request
  should be processed immediately.
• T.P.R. is to be requested only when absolutely
  necessary!

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Independent Contractor vs. Employee Determination

• Determination is a department responsibility.
• An incorrect determination can result in the
  University being held liable for employment taxes
  and penalties.
• Definition of an Independent ContractorThe payer
  has the right to control or direct only the
  result of the work done.

31
Independent Contractor vs. Employee Considerations

• Who has the following types of control
• Financial control-authority to determine how much
  to charge how much to spend on business
  expenses
• Behavioral control-authority to determine, what,
  when, why how to accomplish the work
• Relationship control-knowing intent at the time
  of arrangement

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Independent Contractorvs. Employee

• The Independent Contractor Determination form
  and guidelines are available on the Procurement
  Department website at
• http//finance.kent.edu/procurement/contractor.pdf
  
• Attach the Independent Contractor form and the
  invoice from the contractor to the Check Request
  and forward to Procurement-Payments
• Contact Treasury, Tax, and Risk Management
  Services with tax-related questions _at_ 23751

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How to Process Expense Reimbursements
34
Travel Expenditures

• Travel Policy 3342-7-13
• http//www.kent.edu/policyreg/
• All University travel must be authorized by the
  appropriate department head or manager
• Most travel expenditures must be paid by the
  employee, and will be reimbursed after approval
  by the department head

35
Travel Expenditures

• The Purchasing card may not be used for any
  travel expenses
• Use your corporate card, personal credit card,
  cash, or check
• Submit a timely expense form
• Retain receipts for expenses and attach originals
  to the expense form
• Travel should be at the lowest available rate
• The mileage reimbursement rate is 0.36 per mile
  for business use of your personal car

36
Travel Expenditures

• Travel Advances are an exception to policy
• For use only under extenuating circumstances
• Requires the signature of the V.P. of
  Administration
• Overnight lodging gt 50 miles from KSU will be
  reimbursed for the actual and reasonable cost
  plus room taxes
• Transportation costs gt25 (parking fees, tolls,
  etc.) are reimbursed on an actual cost basis

37
Travel Expenditures

• Meal reimbursement
• Traveler must be on travel status
• Travel status begins en route from your residence
  (or KSU) to the first travel destination and ends
  at your return to your residence (or KSU).
• Requires an overnight stay
• Based on standard IRS per diem (per day) rates
  only, not actual cost -no receipts
• Per diem rates are available at
• http//finance.kent.edu/procurement/

38
Travel Expenditures

• If you are on travel status prior to
• 7 A.M. - you will be reimbursed for
  breakfast
• 12 Noon - you will be reimbursed for lunch
• 5 P.M. - you will be reimbursed for dinner
• Must be on travel status for a reasonable period
  after the above meal times
• Meals provided while on business travel are not
  reimbursed

39
Entertainment Expenditures

• Entertainment Policy 3342-7-18
• http//www.kent.edu/policyreg/
• Authorized purposes
• To establish and maintain external communications
  relationships for the benefit of the University
• To extend working hours in conference activity
  for external clientele or prospective employees
• To support group activities of substantial size

40
Entertainment Expenditures

• The approval of your division executive officer
  is required for reimbursable costs associated
  with
• Entertainment of colleagues within the University
• Entertainment in personal residences of employees
• Large group entertainment

41
Entertainment Expenditures

• Food beverages are reimbursable for reasonable
  and actual cost
• Alcoholic beverage costs are not reimbursed
• Incidental costs related to authorized purposes
  are reimbursed at actual cost
• The Purchasing card is not to be used for
  entertainment-related expenditures

42
Expense Statement (Reimbursement) Form

• The Expense Statement is used to request
  reimbursement for travel or entertainment costs
  you incur in service to KSU. Instructions for
  completion of the form can be printed from the
  Procurement web page
• http//finance.kent.edu/procurement/
• Complete an Expense Statement for all types of
  expenses to be reimbursed to you
• Individuals should submit only their own
  expenditures on their Expense Statements in order
  to minimize risk of duplicate payment

43
Expense Statements

• Attach original receipts to the Expense Statement
• Original hotel bill with zero balance
• Transportation expenditures gt 25 (parking fees,
  tolls, taxi, etc.)
• For airfare directly billed to KSU note only in
  the comment section of expense statement
• Do not attach receipts for meals meals are
  reimbursed at the per diem rate
• Retain a copy of the completed expense statement
  for departmental records

44
Expense Statements

• Send the completed Expense Statement to
  Procurement-Payments as soon as possible after
  returning to KSU to avoid paying cash
  out-of-pocket
• Submit the Expense Statement within 5 days of
  returning to KSU when a travel advance has been
  granted
• Your reimbursement request will be processed
  within Procurement Department document protocol
  if the Expense Statement is complete and accurate

45
Electronic Expense Statements

• A Lotus Notes Electronic Workflow application is
  currently in development for Expense Statements
• Once adopted, all the original receipts will be
  retained in departments and kept available for
  audit
• Original receipt retention and record keeping
  will continue to be critical to maintaining
  compliance with State IRS regulations
• Record retention guidelines can be found
• http//www.kent.edu/RecordsRetention/

46
Resources

• Procurement
• Payments phone 22607
• Purchases phone 22276
• http//finance.kent.edu/procurement/

47
Using the Lotus Notes IDC Database

• Presented by Emily Hermon,
• Sr. Accountant, Comptrollers Office
• ehermon_at_kent.edu
• x22392

48
Using the Lotus Notes IDC Database

• Creating a Bookmark
• Opening the IDC Production Database
• Creating an IDC
• Searching for an IDC

49
Budget Transactions

• Presented by

University Budget Office Analysts Katie
Brown Cindy Celaschi
50
UNIVERSITY BUDGET OFFICE
Responsibilities

• Coordinating Development of the Budget

• Modifying Budget (Revisions)

• Monitoring Budget

• Forecasting

• Reporting

51
Budget Revisions Overview

• Unrestricted EG, designated, auxiliary and
• plant fund accounts can be modified by a
• budget revision

• Restricted (Grants) fund and other fund accounts
  cannot be modified by a budget revision

52
Budget Revisions Overview

• Revisions may affect current expenditure budgets
  (non-personnel budget pool subcodes) and position
  budgets
• Revisions may affect fund balances
• Budget dollars are drawn from budget pools to
  match actual expenditures. The result is that
  the budget balance available column is updated.
• Necessary approvals are determined at the
  divisional level

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Budget Revisions Overview

• Budget revisions can be

• - Permanent affecting the current fiscal
• year budget and original budget for the
• next fiscal year
• - Temporary affecting the current fiscal
• year budget only

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Budget Revisions Overview

• Sources of budget revisions

• - Month end unrestricted EG entries
• - Request for Budget Revision form
• - Position Request and Authorization (PRA) form
• - Revision in Salary Distribution Charges form

55
Month End Budget Entries

• Revises selected unrestricted EG
• budgets to fund actual expenses
• - Currently used for employee benefits
• - Planned for FY04

• Telecommunication costs
• (lines and equipment)
• Graduate Assistants Health
• Insurance benefit

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Request for Budget Revision form

• Items to note
• Use budget pool subcodes for non-personnel
  categories (exceptions designated and plant fund
  accounts)
• Position number required for salary/wage
• budget adjustments
• Verify position funding availability
• Use meaningful description up to
• twenty characters displayed on FRS report

58
Position Request and Authorization (PRA) form

• Items to note
• Information in the funding section used
• for budget revisions
• Eliminates need for separate budget
• revision form
• Permanent adjustments are noted on HRS
• for following fiscal year

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Revision in Salary Distribution Charges (RISDC)
form

• Items to note
• Most budget revisions are completed
• to fund activity in cost share accounts
• Eliminates need for separate budget
• revision form
• Permanent adjustments noted on HRS
• for following fiscal year

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Frequently Asked Questions
How can I verify my entry?

• Review Fiscal YTD Transactions
• http//financial-info.kent.edu/

• Identify Budget Transaction Codes

• 020 original budget entry
• 021-029 revised budget entry

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Frequently Asked Questions
Why hasnt the entry been processed?

• Could the entry have been received
• in the University Budget Office close
• to month end?

Wait until next month and review
Fiscal YTD Transactions again
63
Frequently Asked Questions
Why was a non-position control entry processed
using a different subcode?

• Budget revisions to EG and auxiliary accounts
  must be processed using budget pool subcodes
• Budget revisions to designated fund accounts use
  the 9998 subcode and budget revisions to plant
  fund accounts use the 1000 subcode

64
Frequently Asked Questions
Why was a budget entry processed to my account?

• 1. Review the Fiscal YTD Transactions and
  determine if the description, offset account and
  reference answer the question.

• 2. If not, contact the University Budget Office
  
• (budget_at_kent.edu) with the following
  information

• Date of entry
• Account and subcode
• Amount of entry
• Reference number, if available

65
Resources

• University Budget Office
• phone 23750
• http//finance.kent.edu/ksubudget

• Comptrollers Office
• phone 22392
• http//finance.kent.edu/comptroller

66
QUESTIONS?
67
Distribution of Payroll and Procurement-Payments
(Accounts Payable) Checks

• Presented by Donna Miller
• Account Clerk II
• Bursars Office

68
Table of Contents

• 4 types of payroll
• Early release of payroll checks
• Procurement-Payments checks
• Stop payments
• Questions

69
4 types of pay

• Civil service/ hourly pay
• Every other Friday
• Faculty, grad assists, non-hourly
• 25th of each month (or Fri. closest)
• Administrative pay
• 31st of each month (or last working day)
• 2 extra pays
• 15th and 31st of each month

70
Each department

• Has its own check distribution code
• ALL employees should be in dept. code
• Must have a Payroll Distribution Card on file
• 3 authorized personnel to pick-up checks
• Can pick-up checks at the Michael Schwartz Center
  drive-thru on paydays
• 730am- 915am

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Student employees

• Can be coded to departments
• Or 996 code
• Have only ONE distribution code
• Where to pick-up checks
• Civil service/hourly- Student Credit Union
• Grad assists, non-hourly- Bursars Office
• Students with 996- direct deposit

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Mailed Checks

• Checks returned undeliverable
• Forwarding from post office
• Students direct deposit stubs returned
  undeliverable

73
Returned paychecks

• The Student Credit Union holds checks for 2 pay
  periods
• If they are not picked-up, they are returned to
  Donna Miller in the Bursars office
• All stubs are mailed to the address shown on the
  check

74
Early release of payroll checks

• In extenuating circumstances, payroll checks may
  be issued early if approved.
• Civil service/hourly
• Fax brief note to Barb Cooper,
• Human Resource Services, 2-3047
• Faculty, grad assistants, non-hourly
• Fax brief note to Lynn Heller or Barb Casher,
• Provosts office, 2-2644
• Administrative
• Fax brief note to Barb Richmond,
• Human Resources Service, 2-3047

75
Early release of payroll checks

• Students
• Obtain form from Bursars Office
• Must have supervisors signature approval
• Return form to Bursars Office
• Restrictions for students
• Can receive check only 1 day early
• Are allowed only two early releases per semester

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Payroll check pick-upon approved day

• By individual
• MUST have proper ID
• By representative
• MUST have letter with representatives name
• Representative MUST have proper ID

77
Stop payment request

• If a payroll check is lost or damaged
• 1. Individual must sign a stop payment request
• 2. Bursars Office must have original signature
  on file (no faxed copies)
• 3. Must wait 10 business days
• 4. Takes 2-3 business days to replace check
• Can be picked-up
• Can be mailed to requested address

78
Procurement-Paymentschecks for pick-up

• Arrive in the Bursars office daily
• Are produced on the night of the date on check
• To ensure receiving a check by a certain date
• Fill out a Check Request 2 weeks ahead of payment
  due date
• Put special instructions in upper right-hand
  corner (your name and phone number) and highlight

79
Procurement-Payments checks

• Donna Miller will call you when your check is
  ready for pick-up
• Checks are separated the morning after printing
• Example If a check is dated the 14th, Donna
  receives it on the 15th. It will be mailed the
  morning of the 16th.

80
Stop payment request

• If a check is lost or damaged
• 1. The payee must sign a stop payment request
• 2. Bursars Office must have the original
  signature on file (no faxed copies)
• 3. There is a wait of 10 business days
• 4. A check takes 2-3 working days to replace
• If the check is made out to a company (vendor),
  contact Janet Cash in Procurement-Payments 2-2607

81
Questions?

• Contact Donna Miller at x22626 or
  dmille13_at_kent.edu

82
Return Checks

• Presented by
• Kerry Angle
• Bursars Office

83
Return Checks

• Common Types
• Things to know
• Understanding the Process
• Charge Backs to Departments
• Helpful Hints

84
Return Checks
Common Types

• NSF
• Insufficient Funds
• Stop Payment
• Closed Accounts
• Uncollected Funds
• Refer to Maker

85
Return Checks
Things to know

• 30 return check fee assessed to checks of 10 or
  more
• Applicable late charges for student accounts
• Temporary and Permanent Check Writing Holds
• Distribute weekly Check Writing Suspension List

86
Understanding the Process

• Receive return items daily
• Identify payment source (What was payment for?)
• Determine type of account student account or
  department account
• Determine fees to be assessed
• Prepare accounting document(s) and materials
• In-house recovery of funds

87
Charge Backs to Departments
Examples

• Admission fees
• Regional Admission fees
• Recreational Services

• Residence Service fees
• Parking fines
• Library fines

• Unidentifiable student accounts
• Untimely deposits

88
Charge Backs to Departments
How are they processed?

• Identify department
• Contact department for 10-digit account number
• Prepare accounting document and memo
• Give to cashiering to process
• Disperse and keep copies

• Return Checks charged back to departments are
  NOT included on the weekly Check Writing
  Suspension List.

89
Return Checks
Helpful Hints

• Avoid untimely deposits
• Make payment source identifiable
• Stop payments are treated as NSF (all fees
  apply)
• Checks are NOT automatically resubmitted a
  second time

90
Accounts Receivable OtherA.R.O.

• Presented by Kerry Angle
• Bursars Office

91
Overview

• Brief description of A.R.O.
• Invoices
• Statements
• Payments
• Collections
• Refunds

92
Brief description of A.R.O

• Allows University departments to receive
  immediate revenue recognition in their
  non-student receivable accounts
• Accrual method of accounting for revenue, as
  opposed to the cash method
• Set-up accounts for billing and collection

93
Additional Benefits to Using ARO Accounts

• The Bursars Office will
• Monitor the accounts
• Post Payments
• Generate/distribute monthly activity and aged
  reports to departments via Lotus Notes

94
Examples of A.R.O. Accounts

• Food Services 941-00-0000K
• Library 932-00-0000M
• Conference Bureau 931-00-0000J
• Transportation 925-00-0000D
• Student Organizations

95
Invoices

• Process credit to appropriate dept.
• Bill customer for service
• Enter new accounts into SIS using documents
  provided by University departments and student
  organizations
• Completion of summary card
• Review of Transaction Report

96
Statements

• Send statements on monthly basis
• Respond to telephone inquiries and written
  correspondence

97
Payments

• Receive payments and credit to the appropriate
  A.R.O. accounts
• Review cashiered documents to ensure accuracy
• Process credit memos sent by various departments

98
Collections

• Monitor accounts on a monthly basis
• Identify customers who are paying when due
• Identify problems with invoices and/or payments
• Contact delinquent customers
• Skip Trace and pull Credit Bureau

99
Collection Agencies

• Uncollectable accounts are referred to an outside
  collection agency
• Write-offs are charged back to the originating
  department account

100
Refunds

• Monitor accounts on monthly basis
• Identify customers who have
• - Overpaid on their A.R.O. account
• - Received credit memo(s)
• Maintain accurate notation and documentation
• Analyze and discuss with accountants
• Submit request for refund
• Mail refund check to customer

101
Questions?

• e-mail kangle_at_kent.edu
• Phone 2-0881

102
Deposit Transactions

• Presented by
• Pamela Wilkes
• Cashier System Coordinator
• Bursars Office

103
Topics Covered

• Departments with small, infrequent deposits
• the 2-part Deposit Slip
• Departments with large, frequent deposits
• Blue Bag
• Resources

104
Departments with small, infrequent deposits

• Complete the 2-part Deposit Slip retain the
  yellow copy for department records
• Do NOT send deposits through Campus Mail-
  transport deposit in-person
• Wait for receipt verifying the deposit for
  departmental records

105
Obtaining the 2-part slip

• 2-part slips available at the Bursars Office
• Request by
• Mail
• Supply requisition form
• Phone
• Pamela Wilkes 2-0858
• Fax
• Attn Pam 2-2606

Please note Form PS-1146A 1/97
106
Items on the slip

• Department name
• Comments
• Purpose/ description of deposit
• Account number
• 6 digit acct. number plus 4 digit sub code
• Deposit total

• Pay codes
• Cash
• Check
• Visa/ Master Card
• Discover
• Prepared by
• Date sent

107
Who should do what..

• ALL departments and auxiliaries are required to
• Prepare both checks and cash with 2 separate
  calculator tapes
• Stamp the back of checks with endorsement stamp
• Order from Pam 2-0858
• Write legibly

108
Departments with large, frequent deposits

• Complete the 2-part Deposit Slip retain the
  yellow copy for department records
• Prepare Tranz 330 Report for credit card
  transactions
• Prepare 4-part Sealed Package Deposit Receipt
  retain blue copy
• Do NOT enter charge card amounts

109
Departments with large, frequent deposits (cont.)

• Secure the deposit in a locked Blue Bag
• Only ONE Sealed Package Receipt per bag
• Transport deposit to Bursars Office
• In-person or contact Campus Police for escort of
  amounts over 300.00
• KSU Police x22424

110
Resources

• Procurement Department
• phone 22607
• http//procurement.kent.edu/
• Comptrollers Office
• phone 22352
• http//finance.kent.edu/comptroller/

111
Resources

• Bursars Office
• phone 22626 http//finance.kent.edu/b
  ursar/
• University Budget Office
• phone 23750
• http//finance.kent.edu/ksubudget

112
Transaction Processing Bursar, Budget and
Procurement Procedures

• Thanks for attending!