FY 2009 Year End Training

May 12, 2009Presenters:Budget Office

Business & Financial Services

Financial Systems Services

Payroll

Sponsored Programs

Overview

Presented by Lynn Johnson

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A day in the life….

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Goals

Learn about closing the University financial records

See some faces involved in the process

Answer your questions

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Why Do We Do This?Or – “The BIG Picture”

Financial StatementsState of Colorado, Colorado State University

System and Colorado State University Who reviews our statements and why?

Financial Statement Accuracy

Accrual Basis of Accounting a.k.a. recognizing revenue when earned and expenses when incurred

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Changes for FY 2009

FRS is going away. It will remain open to close FY09, but any reversing entries will be made in KUALI.

There are no significant changes to closing instructions for this year.

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FRS is Going Away

FRS went live on July 1, 1990 and the first close was done in FY91

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FRS is Going Away

Cash & cash equivalents

In 1990 was $22,150,000

In 2008 it was $493,170,000

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FRS is Going Away

Total Assets

In 1990 were $407,317,000

In 2008 they were $1,242,785,000

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FRS is Going Away

Liabilities

In 1990 were $96,151,000

In 2008 they were $572,812,000

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FRS is Going Away

Number of Accounts in FRS

In 1990 10,200

Today 19,419

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FRS is Going Away

What has happened during this time?

1990- Albert Yates was named the 12th

president of Colorado State University

1991 - Thomas Sutherland was released after

being held for six years as a political

prisoner

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FRS is Going Away

What has happened during this time?

1992- The TABOR (Taxpayers Bill Of Rights)

Amendment becomes law

1997- On July 28 Colorado State University

incurred heavy losses to buildings and

equipment from sheet water damage

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FRS is Going Away

What has happened during this time?

1999- Colorado State University breaks from

the Western Athletic Conference and

forms the Mountain West Conference

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FRS is Going AwayWhat has happened during this time?

2003- Dr. Larry Penley is named the 13th president

at Colorado State University

The State Board of Agriculture is renamed the

Board of Governors of the Colorado State

University System.

USC becomes CSU-Pueblo and Fort Lewis

College separates from the CSU System.15

FRS is Going Away

What has happened during this time?

- 2008 – CSU Global Campus opens enrollment

- Research expenditures top $300 million

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FRS is Going Away

What do you remember about FRS?

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Budget Information

Presented by Becky Trentlage

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Office of Budgets - Contacts

Becky Trentlage 491-0898

Angie Nielsen 491-1689

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Budget News

New departments or re-mapping of existing accounts to a different department

Deadline – June 8, 4:00 p.m.

Designated Future Commitments (DFCs)Deadline – June 15, 4:00 p.m.

New accounts needed to support new year staffing processDeadline – June 19, 4:00 p.m.

Budget Change Requests (BCR)Deadline – July 6, 4:00 p.m.

Budget NewsCurrent carryforward policy is:

Up to 1.5% of unexpended year-end balances may be carried forward to the new fiscal year. The 1.5% limit applies to:

Combined 13 and 16 fundsProfessional Veterinary Medicine (14 fund)Agricultural Experiment Station (15 fund)CSU Extension (17 fund) Colorado State Forest Service (19 fund)

Funds in excess of the carryforward limit will be swept centrally unless approved exceptions are granted.

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Budget NewsDesignated Future Commitments (DFCs) for specific purposes, such as; faculty start ups, large equipment purchases, renovations and/or multi-year projects.

The Carryforward & Designated Future Commitments Policy and Process, and DFC request form are posted on the Office of Budgets Web site.

DFC Submission Request Deadline: June 15, 2009

DFC requests should be submitted to Becky.Trentlage@colostate.edu and will be reviewed for approval by the Cabinet Finance Subcommittee.

Please review the posted policy and request form at www.budgets.colostate.edu

Accounts Payable Information

Presented by Bob Loosley

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Accounts Payable & Central Receiving Contacts

Dan Kelso Dan.Kelso@colostate.eduReceiving on PO’s

Bob Loosley 491-6513General Accounts Payable Questions

Jackie Riba 491-1363AFE/PO Questions

Terri Bedan 491-6021Travel Questions

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Accounts Payable Staff Parvin Naysary 491-5019

Vendors B-F and Petty Cash Jeff Fotsch 491-1373

Vendors G-O, General Air, Metrocall, 77funds Cherie Akin 491-1372

Vendors A, P-Z, Telecomm Beth Fritzler 491-2097

Payments to Individuals and reimbursements Tricia Cochran 491-1429

Mail/ Vendoring Connie Cooley 491-1362

Travel payments

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Why do we do this in 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 in Accounts Payable?

College Business Officers will receive a listing of outstanding POs and AFEs during June

Accounts Payable will review documents paid after year end to determine if an accrual adjustment is necessary

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What’s on my report?

FY 2009 – payable entry (this is an estimate)We charge/debit your account (YAP batch). Should occur the night of July 2nd.

FY 2010 – reverse payable entry and pay vendor1. We credit your account2. We pay the vendor and charge your account

again

Net effect of FY 2010 entries is zero (or close to zero)

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Authorization for Expenditures (AFE’s) Fully routed and approved in SciQuest

prior to June 30, 4:00 p.m.

üpayable 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 (PO’s) -- Charged to FY 2009 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 30ü usually no payable entry

Other POs (P1xxxxx & P8xxxxx) ü payable entry will charge your account if goods

were received by June 30

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SciQuest Purchase Orders

SciQuest purchase requisitions/orders post encumbrance into FRS on the evening final approval is made in SciQuest.

G type purchase orders – orders shipped and charged by vendor on or before June 30th are recorded in 2009. Plan purchases to allow time for vendors to process to ensure transactions are recorded in FY2009.

S type purchase orders – charged to FY2009 if goods are received and invoice is sent to Accounts Payable by 4 p.m. on June 30th.

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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 30, 4:00pm.

Receiving status can be reviewed on FRS screens 228 or 239.

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Travel Submit Travel vouchers with an end trip date of June 30th or prior by

July 2, 4:00 pm to be expended in FY 2009 This is especially important for travel on 5-3 accounts with a June

30, 2009 project end date “Ghost Card” Airline tickets must be ordered in time to hit the June

“Ghost Card” statement. Statement cut off is June 20th. We recommend ordering the ticket on or before June 15th to insure the Travel Agency can process in time for the June statement.

Post Trip Travel Vouchers with travel advances where the traveler owes CSU must have the deposit processed to the correct fiscal year in order for the rest of the expenses to be charged appropriately.

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Accounts Payable Issues - ACARD ACARD

üCharged according to the day JPMorgan Chase posts the transaction

üTransactions received by July 2, 6:00 p.m. with a transaction date prior to June 30, will be charged to FY 2009

üTransactions not reallocated by July 6, 6:00 p.m. will be charged to the default account in FY 2009

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Accounts Payable Issues - ACARD Do not count on ACARD purchases that

are made in late June to hit FY 2009. 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 2 will be processed to FY 2010.

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Payroll Information

Presented by Joanne Robel

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Payroll Contacts

Vickie Schultz 491-4969

Joanne Robel 491-5853

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Payroll Issues Final FY 2009 Hourly Timesheets

Pay Period Ending June 19 (Payday July 2)Due June 23, 12:00 noon

Clear Salary Clearing Accounts (5394xx)Due June 30, 3:00 p.m.ü No salary may post to Salary Clearing Accts in June

Final FY 2009 Labor RedistributionsDue July 6, 3:00 p.m.

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Payday Shift from June to July June 19th hourly payroll pay period

ending June 5th, paid on July 1st

June 30th salary payroll paid on July 1st

July 3rd hourly payroll pay period ending

June 19th, paid on July 2nd

ü Please notify/remind your employees

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Accounts Receivable Information

Presented by Trish Torrez

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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 Account (DPSA)

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Accounts Receivable Operations Issues - ARIES Billing System

Paper Documents (except DPSAs)

Due June 19, 4:00 p.m.

ü Load Sheets

Electronic Uploads to ARIES Billing System

Due June 26, 5:00 p.m.

ü Allow an extra day for new customers

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Accounts Receivable Operations IssuesDepartment Payment to Student Accounts DPSA’s Uses

ü Graduate Assistant Tuition Paymentsü Discretionary Scholarshipsü Fellowship/Sponsor Designated Scholarships

(53 & 99 funds only)

Unapproved DPSA’s - Due June 19, 4:00 p.m. in Account Receivable Operations

Approved/routed DPSA’s - Due June 26, 4:00 p.m. in Accounts Receivable Operations

Remember to review the HB1023 requirement. The box on the DPSA form must be checked to process.

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Bursar/Cashier Information

Presented by Brian Grube

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Bursar/Cashier Contacts

Bursar’s Office – Howes Street Brian Grube 491-6633

Cashier’s Office – Lory Student Center Becky Everett 491-0597

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Bursar/Cashier Issues

Departmental Deposits created in June 30, 1:00 p.m.

Checks/Cash to Cashiers OfficeJune 30, 2:00 p.m.

Please do not accumulate receipts for one final deposit!

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Petty Ca$h & Change Funds Return Fund Confirmations by July 1st

ü Attach Custodian Change Form to Confirmations

ü Use “Change in Fund Custodian” form found at

busfin.colostate.edu/forms.aspx, under Treasury

Reimburse Petty Cash funds before Year-End by having approved AFE completed by June 30, 4:00 p.m.

Reduce/close funds no longer needed

ü Use “Change in the Amount of the Fund” form found at

busfin.colostate.edu/forms.aspx, under Treasury47

Campus Services Information

Presented by Valerie Monahan

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Campus Services Contacts Valerie Monahan 491-3001

Natural Sciences, VP Research, Colorado State Forest Service, External Audit Contact, F&A/Cost issues

Heidi Barclay 491-4148Applied Human Sciences, Veterinary Medicine, Liberal Arts, VP Advancement & Strategic Initiatives, External Audit Assistance

Janice Inman 491-6752VP Student Affairs, Auxiliaries, Athletics,

David Leathers 491-5509Engineering, Campus Service Projects

Laura Streit 491-7099Board of Governors, President’s Office, Provost, VP Offices, Library,Agricultural Sciences (Agricultural Experiment Station), Business College

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Consumable Inventories, Why do we do this?

Balance Sheet Asset / External Audit

Year End Inventory Count

Inventories< $100,000 counted every other year>= $100,000 counted yearly

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Consumable Inventories

Inventories counted on or before June 30, adjust to actual as of June 30

Inventory certificates

Due July 1, 12:00 noon

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Fund ReceivablesDepartments that do not use the Banner ARIES 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.

All revenue earned, but not billed in FY09 needs to be recorded in FY09 – Accrual Basis of Accounting

View the PDI on Accrual Accounting out on the BFS Web site

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Account Balances at June 30th

Credit Card Clearingü Subcode 5650 must have a $0 balance

ü All clearing entries need to be input by July 7, 12:00 noon

Gift Funds- no deficits

AEP (18 funds)- no deficits

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Account Attributes Changes to account attributes (account title,

responsible person, etc)Due June 19, 4:00 p.m. to Campus Services

Accounts no longer needed should be zeroed out and deletedDue June 19, 4:00 p.m. to Campus Services

New accounts- Due June 19, 4:00 p.m. to Campus Services

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Journal Entry Issues

Final journal entries to all accounts including departmental approvals, due July 7, 12:00 noon

Information on journal entry documentation requirements is available on the main B&FS website

Backup documentation for all Journal Entries must be maintained and be readily available for external audit inquiries during the months of August and September.

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Financial Reporting & Analysis Contacts

Associate Controller Gail Michaud 491-7134

Financial Reporting Sally Tschirhart 491-2423 Sheree MacNaughton 491-6693 Jennifer Pollman 491-2178 Sue VanderVliet 491-6750

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Property & Plant ContactsProperty Theresa Todd 491-1428

Debra Ellison 491-2270

Mack Freestone491-1358

Jennifer Kahrs 491-1045

Plant Funds Chrystal Gates 491-6242

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Financial Systems Services Information

Presented by Joe Sparks

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FRS/CIS Management Contacts

Troy Fluharty 491-6694

Joe Sparks 491-2899

Connie MacNaughton 491-2099

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FRS Reports Run Friday nights of June 12, 19, 26 and

July 2, 7, 24

Final run – July 24

Reports available on next day - midday

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FRS On-Line Access

Input access for FY 2009 will terminate on July 6, 7:00 p.m.

Use your regular operator number for FY2009 inquiries.

Always use your regular operator # on

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FRS Data Warehouse Tables

FY 2009 data will move from the previous month tables to the history year tables the night of July 24

FY 2010 ODS warehouse tables updated daily (M-F) starting June 30

FY 2007 transactions will be deleted from the data warehouse on June 29

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FY09 “Delphi” = FY10 ODS

FRS Data Warehouse Tables

FY 2009 data warehouse tables updated daily (M-F) through July 24

FY 2009 data will move from the current month tables to the previous month tables the night of June 30

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FY09 “Delphi” = FY10 ODS

June Dates & DeadlinesThe number of the slide appears in parentheses

June 8 New departments identified to Budget Office (20)

June 12/19/26 FBM092 reports for campus (60)

June 19 A/R paper documents & unapproved DPSAs to Accts Receivable

(42,43)

June 19 New account requests submitted to support new year staffing

(20)

June 19 Changes to account attributes (54)

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June Dates & DeadlinesThe number of the slide appears in parentheses

June 19 Closeout accounts no longer needed (54)

June 23 Hourly Timesheets Pay Period Ending June 19 (37)

June 26 Approved DPSAs to Accounts Receivable (43)

June 26 Electronic Uploads to ARIES (42)

June 30 Closeout 530xxx State Project accounts that have a June 30, 2009 end date (71)

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June 30 DeadlinesThe number of the slide appears in parentheses

Inventories counted (51)

CASHNet deposits created/delivered to Cashiers (46)

AFE created and approved (29)

Receiving on POs (32)

FY 2009 Data Warehouse, current month tables move to previous month tables (63)

FBM092 reports for campus (60)66

July Dates & DeadlinesThe number of the slide appears in parentheses

July 1 Petty Cash Confirmations (47)

July 1 Inventory Certificates (51)

July 2 Travel documents (33)

July 6 Budget Change Requests (BCRs) (20)

July 6 Direct online FRS input (61)

July 6 Campus FRS online access turned off(61) 67

July Dates & DeadlinesThe number of the slide appears in parentheses

July 6 Final Labor Redistributions (38)

July 6 Acard reallocations (34)

July 7 CIS journal entries (55)

July 7 FBM092 reports for campus (60)

July 24 Final FY 2009 FBM092 reports for campus (60)

July 24 Final FY 2009 Data Warehouse ables updated (63) 68

Sponsored Programs Information

Presented by Dawn Sharkey

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Sponsored Programs Contacts Richard Batman 491-4637

Applied Human Sciences; Business; Liberal Arts; Natural Sciences; VP for Student Affairs; Atmospheric Science

Cliff Choury 491-0440 Agricultural Sciences; Ag Experiment Station; Research Centers; CSU Extension; VP for Administration

Carol Cody 491-1562Engineering - except Atmospheric Science

Clint McBlair 491-4038 Salary Clearing; Over Expenditures; 5-3 Sweep (fixed price projects only); 64 Accounts; 88 Accounts; Cost Share Accounts; Special Issues

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Sponsored Programs Contacts

Dawn Sharkey 491-4867Warner College of Natural Resources

Judi Wadman 491-3599Provost/Academic Administration; Veterinary Medicine; VP for Research; Colorado State Forest Service

Rhonda Wolschlager 491-3391 (WCNR) Warner College of Natural Resources – CEMML

491-3503 (OSP)Veterinary Medicine - Clinical Sciences & Biomedical Science

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Sponsored Program Issues

Zero out Salary Clearing Accounts (5394xx)

ü PPDAs to clear any remaining balances are

due to SP by June 30, 12:00 noon.

ü No salary, including hourly, may post to

Salary Clearing Accts in June

Final journal entries to all accounts including departmental approvals, due to SP by July 7, 12:00 noon

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Sponsored Program IssuesState of Colorado Agency ProjectsEnding June 30, 2009 (530002 - 530799)

There is only one opportunity to submit an invoice to the State of

Colorado.  No revised invoices will be accepted.

Deadline: June 30, 4:00 p.m.

ü Notify your SP Acct Tech of any unpaid invoices or un-posted expenses (e.g ACARD, hourly payroll, Motor Pool, Mail, Telecom Charges, Travel) that must be billed to the sponsor, so payables can be set up.

ü All goods and services must be received by COB 6/30/09.

ü All encumbrances must be cleared.

All unspent budget funds revert back to the sponsor as of June 30, 2009.

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Over Expenditures on 5-3 Accounts

At year end, Sponsored Programs pulls weekly reports for overspent accounts on June 15, 22, 29, and July 6. Reports will be sent to the College Business Officers to aid in clearing account deficits prior to year end.

CAUTION: An account may not be overspent on July 6, so it will not appear on the over expenditure list generated that day. However, when indirect cost posts the night of July 7th, it may cause the account to go over budget. The over expenditure entries – subcode 5680 – that hit the designated college 13 or 16 accounts at year end will not be reversed.

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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 due by June 19

All 64 fund balances roll forward to FY 201074

Web Sites Accts Receivable Operations Student

Payment Processing http://www.colostate.edu/Depts/BusFin/qg.html

Business & Financial Serviceshttp://www.colostate.edu/Depts/BusFin/

Financial Procedures Manual

http://www.colostate.edu/Depts/BusFin/fpi.html Inventory Forms

http://www.colostate.edu/forms.aspx

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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://web.research.colostate.edu/osp/

Year-End Information http://www.colostate.edu/Depts/BusFin/ye.html

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Questions ?

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