Financial Rep MeetingJuly 13, 2011

OMNI EXPENSE ACCOUNT CODE CHANGES

JUDD ENFINGER

The Project Improve financial reporting at the University

level◦ Simplify, clarify and better organize account

names/descriptions a◦ Provide additional guidance on the proper use of

accounts◦ Promote consistency in recording similar types of

purchases to facilitate more effective trend analysisEnsure accurate coding of all types of

purchases:◦ Encumbered◦ Unencumbered◦ P-Card

Create a comprehensive data dictionary of all OMNI expense accountsOMNI Expense Account Code Changes 3

The AnalysisAnalyzed account activity for the last three

years:◦ Amount spent◦ Number of transactions◦ Types of transactions

Vouchers – looked at source docs to determine what was purchased

IDRs Online journals

◦ Identified like accounts, e.g.: 741153 – Computer Misc Equip < 1000 741141 – Information Technology Supply 741151 – Computer Equip < 1000 741152 – Computer Periph Equip < 1000

◦ Identified “primary” account based on historic activity, when there were several similar ones

4OMNI Expense Account Code Changes

The Analysis (cont.)Reviewed Purchasing Category activity for

the last three years:◦ Amount spent◦ Types of purchases◦ Primary vendors◦ Account mapping

OMNI Expense Account Code Changes 5

The Outcome – Expense Account Data Dictionary Includes:

◦ All non-Salary/OPS Expense Account Codes◦ Old & new OMNI Account Names (changes

highlighted in blue)◦ Account Use Description◦ Short List Flag indicating whether each account

appears on the Expense Account Short ListAvailable on Controller’s website

◦ http://controller.vpfa.fsu.edu/Expense-Account-Data-Dictionary

◦ PDF and Excel versions available

OMNI Expense Account Code Changes 6

The Outcome – Expense Account Data Dictionary Clarified Names/Usage for Existing Accounts

◦ Account Use Description specifies exactly what should and should not be booked to each account

◦ Eliminated abbreviations wherever possible Still had to abbreviate some because of the 30 character

limitation in OMNI

◦ Property & equipment names no longer include threshold amount Instead called either “Capital” or “Expendable” Promotes consistency when looking at historical data $5,000 threshold referred to in Account Use Description

◦ Did not change “non-primary” account names

OMNI Expense Account Code Changes 7

The Outcome – Expense Account Data Dictionary Consistently named similar accounts

◦ E.g., all equipment-related accounts begin with ‘Equip’; all professional services accounts (advertising, engineering, medical, etc.) begin with ‘Prof Svcs’

◦ Sorting by account name will group like accounts Other notes on the Account Use Description

◦ Loaded in OMNI in Long Descr field◦ See FSU_DPT_CODES_ACCOUNT query ◦ Description for non-primary accounts – “Recommended

Alternative Account-” Does not mean that non-primary accounts can never be used Merely a recommendation to promote consistency across University

◦ Description for accounts that are no longer to be used but had been in the past – “DO NOT USE”

◦ Accounts only to be used by central offices or certain departments begin with “Controller’s Office (e.g.) Use Only-” OMNI Expense Account Code Changes 8

The Outcome – Expense Account Data Dictionary Several new accounts added for one or more of the

following reasons:◦ A need to track a particular item/service

Due to a high level of these types of purchases or Because of risk factors (e.g. purchases of controlled substances/drugs – acct

741272)

◦ An item/service did not fit into any of the existing accounts (e.g. 741966 Fees & Permits)

◦ To discourage the use of account 741951 Oth Current Chrgs&Obligations There should be no reason to use this account going forward If a department cannot identify an appropriate specific expense

account for a purchase they should contact the Controller’s Office

New accounts have “N/A” in the Old OMNI Acct Descr” column

Several accounts that had never been used at all were inactivated to pare down the list and to prevent future mis-postings to them

OMNI Expense Account Code Changes 9

The Outcome – Expense Account Short ListA more concise list that includes the most

widely used accounts and same information as Data Dictionary for those accounts

For use by departments when coding unencumbered and P-Card purchases◦ However, not all accounts on this list are allowable

for P-Card purchases; see the Disallowable Purchases list for more information - http://www.purchasing.fsu.edu/Purchasing-Card-Information

Departments should rarely have to use any account not in this list

Available on Controller’s website◦ http://controller.vpfa.fsu.edu/Expense-Account-Shor

t-List◦ PDF and Excel versions availableOMNI Expense Account Code Changes 10

The Outcome – Purchasing Category Mapping ChangesRealignment of Purchasing Categories to

OMNI Expense AccountsAll Categories should now map to a

“primary” expense accountAlmost all Categories map to accounts on

Short ListDetailed crosswalk available via the query -

FSU_DPT_CODES_CATEGORY_BY_ACCT

OMNI Expense Account Code Changes 11

Contact Judd Enfinger – Assistant Controller, Quality

Assurance◦ 645-2436◦ jenfinge@admin.fsu.edu

OMNI Expense Account Code Changes 12