FY 2007 Year End Training May 14, 2007

1
FY 2007 Year End TrainingMay 14, 2007
Presenters Accounts Receivable
Operations Office of Budgets Business
Financial Services Payroll Sponsored Programs
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Goals

• Learn about closing the University financial
  records
• See some faces involved in the process
• Answer your questions

3
Why do we do this?or - the view from 50,000 feet

• Financial Statements
• State of Colorado
• Colorado State University System
• Colorado State University
• Who reviews our statements and why?

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Why do we do this?(The boring stuff)

• Financial Statement Accuracy
• Accrual Basis of Accounting
• Measure cash at June 30
• Recognize revenue when earned and expenses when
  incurred

5
Changes for FY 2007

• Good News!!!
• No significant changes to our year-end processes
• Oh yea -
• did ya hear a lot of us moved to Howes Street?

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Office of Budgets - Contacts

• Mike Harris 491-6860
• Nancy McDonald 491-6556
• Debbie Smith 491-1689

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Budget Issues

• Reorganization Name Change.
• OBIA no longer exists.
• New Web Site
• http//www.budgets.colostate.edu/
• ü We (Mike, Nancy, Debbie) are
• Office of Budgets (same location).
• and the rest from OBIA are now
• Institutional Research located at
• University Services Center.

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Budget Issues
New Departments or re-mapping of existing
accounts to a different department. Deadline
June 8, 400 p.m. New Accounts needed to support
new year staffing process. Deadline June 22,
400 p.m. Budget Change Requests (BCR)
Deadline July 5, 400 p.m.
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Budget Issues

• Carryforward Policies are being reviewed and
  subject to change.
• Current carryforward policy is
• Unexpended year-end balances that exceed 1.5 of
  the revised budget for each Vice President for
  the following funds, will revert to central
  reserves. Overall deficits at the vice president
  and college level will be charged against their
  budget in the following fiscal year.
• Combined 13 and 16 funds
• Professional Veterinary Medicine (14 fund)
• Agricultural Experiment Station (15 fund)
• Cooperative Extension (17 fund)
  
• Colorado State Forest Service (19 fund)
• Policy on Savings accounts also being reviewed
  and subject to change.

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Accounts Payable Central Receiving Contacts

• Dan Kelso Dan.Kelso_at_colostate.edu
• Receiving on POs
• Bob Loosley 491-6513
• General Accounts Payable Questions
• Jackie Riba 491-1363
• Travel
• Sue Vander Vliet 491-1362
• AFE/PO Questions

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Why do we do this?Accounts Payable

• Liability on the Balance Sheet
• Expenses incurred but not paid by June 30
• Expenses incurred if goods or services were
  received by June 30
• Payable entry recorded in batch YAPnnn

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Why do we do this?Accounts Payable

• Goods/services were received by June 30
• But vendor not paid until July
• We record a payable entry in FY 2007 to charge
  your account for what was received

13
Whats on my report?

• FY 2007 payable entry (this is an estimate)
• We charge/debit your account (YAP batch)
• FY 2008 reverse payable entry and pay the
  vendor
• 1. We credit your account (YAP batch)
• 2. We pay the vendor and charge your account
  again (APD batch)
• Net effect of FY 2008 entries is zero (or close
  to zero)

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Authorization for Expenditures-(AFEs)

• Fully routed and approved in CIS prior to June
  29, 400 p.m.
• ü payable entry will charge your account for
  the unpaid balance on the AFE
• Contact Accounts Payable in advance for known
  discrepancies

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Purchase Orders Charged to FY 2007

• Service Maintenance POs (P3xxxxx)
• ü payable entry will charge your account for
  regular/cyclical (monthly, quarterly) payments
  as can be determined by Accounts Payable
• Open POs (P9xxxxx) for invoices received by June
  29
• ü usually no payable entry
• Other POs (P1xxxxx P8xxxxx)
• ü payable entry will charge your account if
  goods were received by June 29

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Purchase Orders Other Issues

• Contact Accounts Payable in advance for known
  discrepancies
• Orders over 5,000 with multiple line items will
  not automatically be received.
• If you receive PO goods or services directly,
  notify Dan Kelso by June 29, 400pm.
• Receiving status can be reviewed on FRS screens
  228 or 239.

17
Travel

• Submit Travel vouchers
• with an end trip date of June 30th or prior by
  July 2, 400 pm to be expended in FY 2007
• This is especially important for travel on 5-3
  accounts with a June 30, 2007 project end date

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Accounts Payable Issues-ACARD

• ACARD
• üCharged according to the day Bank One posts the
  transaction
• üTransactions received by July 3, 1000 p.m. with
  a transaction date prior to July 1, will be
  charged to FY 2007
• üTransactions not reallocated by July 5, 600
  p.m. will be charged to the default account to FY
  2007

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Accounts Payable Issues-ACARD

• Do not count on ACARD purchases that are made in
  late June to hit FY 2007. CSU is dependent upon
  the vendors to process your transactions through
  the banking system in a timely manner. We cannot
  control when these transactions will occur and we
  do not accrue for late ACARD transactions. All
  transactions processed thru the banking system
  after July 3 will be processed to FY 2008.

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Payroll Contacts

• Vickie Schultz 491-4969

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Payroll Issues

• Final FY 2007 Hourly Timesheets
• Pay Period Ending June 22 (Payday July 6)
• Due June 26, 1200 noon
• Clear Salary Clearing Accounts (5394xx)
• Due June 29, 300 p.m.
• üNo salary may post to Salary Clearing Accts in
  June
• Final FY 2007 Labor Redistributions
• Due July 5, 3 p.m.

22
Payday Shift from June to July

• June 22nd hourly payroll
• pay period ending June 8th, paid on July 2nd
• üPlease notify your hourly employees
• June 30th salary payroll
• paid on July 2nd
• üPlease notify your salaried employees

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Accounts Receivable Operations Contacts

• Trish Torrez 491-6661
• Janet Fox 491-6663
• ü TWARBUS and ARIES Billing System entries
• ü Department Payment to Student Accounts (DPSA)

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Accounts Receivable OperationsIssues - ARIES
Billing System

• Paper Documents (except DPSAs)
• Due June 22 400 p.m.
• ü Load Sheets
• ü Cancellation/Reduction forms
• Electronic Uploads to ARIES Billing System
• Due June 28, 500 p.m.
• ü Allow an extra day for new customers

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Accounts Receivable Operations IssuesDepartment
Payment to Student Accounts DPSA

• Uses
• ü Graduate Assistant Tuition Payments
• ü Discretionary Scholarships
• ü Fellowship/Sponsor Designated Scholarships
• (53 99 funds only)
• Unapproved documents - Due June 22 400 p.m.
• Approved (routed) documents Due June 27, 400
  p.m.

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Bursar/Cashier Contacts

• Brian Grube 491-6633
• Becky Everett 491-0597

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Bursar/Cashier Issues

• Deposit Receipts Created in
• June 29, 100 p.m.
• Checks/Cash to Cashiers Office
• June 29, 200 p.m.
• Please do not accumulate receipts for one final
  deposit!

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Petty Cah Change Funds

• Return Fund Confirmations by July 2
• ü Attach Custodian Change Form to Confirmations
• Reimburse Petty Cash funds before Year-End by
  having approved CIS document completed by June
  29, 400 p.m.
• Reduce/close funds no longer needed

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Sponsored Program Contacts

• Richard Batman 491-4637
• Pam Harrington 491-2389
• Clint McBlair 491-4038
• Darby Nabors 491-1562
• Rose Nichols 491-0440
• Dawn Sharkey 491-4867
• Judi Wadman 491-3599
• Rhonda Wolschlager 491-3391-WCNR
  491-3503-OSP

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Sponsored Program Issues

• Clear Salary Clearing Accounts (5394xx)
• üPPDAs to clear any remaining balances are due
  June 29, 300 p.m.
• üNo salary, including hourly, may post to Salary
  Clearing Accts in June
• Final journal entries to all accounts
• including departmental approvals,
• Due July 6, 1200 noon

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Sponsored Program IssuesState of Colorado Agency
ProjectsEnding June 30, 2007 (530xxx)

• Deadline June 22, 400 p.m.
• üNotify your Acct Tech to set up payables for
  any unpaid invoices or un-posted expenses (ex.
  Motor Pool, Mail LD Phone Charges) that must be
  billed to sponsor.
• Deadline June 29, 400 p.m.
• üAll goods and services must be received.
• üAll encumbrances must be cleared.
• üAll final payables including ACARD, hourly
  payroll or Travel must be set up with your Acct
  Tech
• All unspent budget funds revert back to the
  sponsor as of June 30, 2007

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Gift Fund Issues

• Account Range 643000-649999 (64 fund)
• By June 29 all deficits must be cleared from 64
  funds. Accounts must have positive cash or 0
  balance!
• Fund transfer request forms by June 19
• All 64 fund balances roll forward to FY 2008

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Campus Services Contacts

• Janet Bebell 491-6655
• Athletics, Applied Human Sciences, Veterinary
  Medicine,
• Liberal Arts, VP Advancement Strategic
  Initiatives
• Susan Becker 491-0942
• Auxiliaries, VP Student Affairs
• Valerie Monahan 491-3001
• Engineering, Natural Resources, Natural Sciences,
  CSFS,
• VP Research
• Laura Streit 491-7099
• Board of Governors, Presidents Office, Provost
  areas,
• Agricultural Sciences, Business, Agricultural
  Experiment Station,
• Cooperative Extension, VP Administrative
  Services, VP Enrollment,
• VP Information Technology

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Consumable InventoriesWhy do we do this?

• Balance Sheet Asset
• Conduct Year End Inventory Count
• Inventories
• lt 100,000 counted every other year
• gt 100,000 counted yearly
• (State of Colorado policy)

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Consumable Inventories

• Instruction Letter beginning of May
• Inventories counted on or before June 30, adjust
  to actual as of June 30
• Inventory certificates
• Due July 2, 1200 noon

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22, 23 62 Fund Receivables

• Departments that do not use the ARIES Banner
  System will need to record their receivables
  using the CIS System.
• Please send your Campus Services representative
  a copy of the Accounts Receivable aging report
  and reconciliation.

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Account Balances at June 30th

• Continuing Education Departmental Accounts (32
  Fund)
• üFund Balance (3200) must have balance lt0
• Credit Card Clearing
• üSubcode 5650 must have a 0 balance
• 24 Funds
• üAccount Controls 16xx must have a 0 balance
• üüAll clearing entries need to be input by July
  6, 12 noon

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Account Attributes

• Changes to account attributes, (account title,
  responsible person, etc)
• Due June 22, 400 p.m. to Campus Services
• Accounts no longer needed should be zeroed out
  and deleted
• Due June 22, 400 p.m. to Campus Services

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Journal Entry Issues

• Final journal entries to all accounts including
  departmental approvals, due July 6, 1200 noon
• Information on journal entry documentation
  requirements is available on the main BFS
  website
• Backup documentation for all Journal Entries must
  be maintained and be readily available for
  external audit inquiries during the months of May
  November. If you anticipate staff being gone
  during this period make sure provisions are made
  to locate journal entry documentation in their
  absence.   

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Financial Reporting Analysis Contacts

• Lorrie George 491-6693
• Janice Inman 491-6752
• Sheree MacNaughton 491-6242
• Gail Michaud 491-7134
• Dana Schwartz 491-7143
• Joe Sparks 491-6750
• Sally Tschirhart 491-2423

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Property Management Contacts

• Cherie Akin 491-2270
• Mack Freestone 491-1358
• Rebecca Valencia 491-1428

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FRS/CIS Management Contacts

• Troy Fluharty 491-6694
• John Hunter 491-1956
• Connie MacNaughton 491-2099

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FRS Reports

• Run Friday nights from June 8 to June 29
• Additional run with monthly Payroll June 20
• Final run July 20
• üReports available on next day - midday
• üSee Printing Publications (1-7447) for special
  FRS paper

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FRS On-Line Access

• Your access will change from FY 2007 to FY 2008
  on July 5, 700 p.m.
• All direct FRS online input due July 5
• A second (9xxx) operator number is needed after
  July 5 for FY 2007 access
• üIf you had a 9xxx operator number last year,
  that operator will be set up automatically for
  you this year (password emailed week of June 25)
• üOtherwise contact John or Connie for a 9xxx
  operator
• üAlways use your regular operator on

45
FRS Data Warehouse Tables
Delphi

• FY 2007 data warehouse tables updated daily (M-F)
  through July 20
• FY 2007 data will move from the current month
  tables to the previous month tables the night of
  June 28

46
FRS Data Warehouse Tables
Delphi

• FY 2007 data will move from the previous month
  tables to the history year tables the night of
  July 20
• FY 2008 data warehouse tables updated daily (M-F)
  starting June 29
• FY 2005 transactions will be deleted from the
  data warehouse on June 27

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June Dates DeadlinesThe number of the slide
appears in parentheses

• June 8 New departments identified to OBIA (8)
• June 8/15/21 FBM092 reports for campus (43)
• June 19 SARS paper documents unapproved
  DPSAs to Accts Receivable (24)
• June 22 New account requests submitted to
  support new year staffing (8)
• June 22 Changes to account attributes (38)

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June Dates Deadlines

• June 22 Closeout accounts no longer needed
  (38)
• June 22 Closeout 530xxx State Project
  accounts that have a
• June 30, 2007 end date (31)
• June 22 FBM092 reports for campus (43)
• June 26 Approved DPSAs to Accounts
  Receivable (25)
• June 26 Hourly Timesheets
• Pay Period Ending June 22 (21)
• June 27 Electronic Uploads to ARIES (24)

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June 29th Dates Deadlines

• Inventories counted (35)
• CASHNet deposits created/delivered to Cashiers
  (27)
• AFE created and approved in CIS (14)
• Receiving on POs (16)
• Begin FY 2008 Data Warehouse updates (46)
• FY 2007 Data Warehouse, current month tables move
  to previous month tables (46)
• FBM092 reports for campus (43)

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July Dates Deadlines

• July 2 Petty Cash Confirmations (28)
• July 2 Inventory Certificates (35)
• July 2 Travel documents (17)
• July 5 Budget Change Requests (BCRs) (8)
• July 5 Direct online FRS input (44)
• July 5 Campus FRS online access changed to
  FY 2007 (44)

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July Dates Deadlines

• July 5 Final Labor Redistributions (21)
• July 5 Acard reallocations (18/19)
• July 6 CIS journal entries (39)
• July 6 FBM092 reports for campus (43)
• July 20 Final FY 2007 FBM092 reports for
  campus (43)
• July 20 Final FY 2007 Data Warehouse tables
  updated (45)

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Web Sites

• Accts Receivable Operations Student Payment
  Processing
• http//www.colostate.edu/Depts/BusFin/qg.html
• Business Financial Services
• http//www.colostate.edu/Depts/BusFin/
• Financial Procedures Manual
• http//www.colostate.edu/Depts/BusFin/fpi.html
• Inventory Forms
• http//www.colostate.edu/Depts/BusFin/fm.html

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Web Sites

• Property Management
• http//www.colostate.edu/Depts/BusFin/prp.html
• Purchasing
• http//www.purchasing.colostate.edu/
• Sponsored Programs
• http//www.research.colostate.edu/
• Year-End Information http//www.colostate.edu/Dept
  s/BusFin/ye.html

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Questions ?
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