Semi-Annual Bookkeeper Workshops - Brevard Public...
Transcript of Semi-Annual Bookkeeper Workshops - Brevard Public...
Semi-Annual
Bookkeeper
WorkshopsJUNE 9, 2015
LOCKMAR ELEMENTARY SCHOOL
JUNE 10, 2015
NORTH AREA OFFICE
JUNE 11, 2015
KENNEDY MIDDLE SCHOOL
FY15 Internal Accounts Audit
McGladrey LLP auditors performing the FY15 Internal Accounts Audit:
Jill Reyes, CIA
Laura Manlove, CPA
Audits will begin June 22, 2015
Interim Audits
Year-End Audits
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FY15 Internal Accounts Audit
Bookkeeper and principal will receive email notification of audit date
First year bookkeepers will be supported by School Accounting on audit day
Schools experiencing bookkeeper or principal turnover during June or July will be audited as close to the turnover date as possible
Use the Audit Checklist (see handout) to prepare for the Internal Accounts Audit
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FY15 Internal Accounts Audit
The auditors could arrive at your school first thing in the morning on the day of your audit
Have a place designated for the auditor(s) to sit :
Your office
Conference room
Empty office
If any questions arise during the audit please contact school accounting for guidance
Jenifer Howe ext. 615
Nancy Stanifer ext. 602
Michelle Coppola ext. 617
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FY15 Internal Accounts Audit
The following items must be ready for the auditors to review upon their arrival:
All FY15 transfer and adjustment vouchers
All FY15 ticket sales information
All NSF checks (that have not been collected on)
All FY15 yearbook paperwork
All FY15 fundraiser paperwork
All 4 quarterly general ledger printouts (only 3 quarters are needed if you are being audited before June 30th)
All FY15 voided checks/documentation
All bank statements
Any deposits on hand
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FY15 Internal Accounts Audit
FY14 verbal comments will become written comments if found to be an issue during the FY15 audit
Items that were not tested in FY14 will be verbal comments if found to be an issue during FY15 audit
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FY15 Internal Accounts Audit
Cash Receipts & Cash Disbursements
Selection is based on the FY15 deposit register and check register
The auditor will provide a list of documents selected for review when he/she arrives at your school
Pull the entire deposit associated with each cash receipt selected
Pull the check and all back-up associated with each cash disbursement selected
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FY15 Internal Accounts Audit
Auditors will be focusing on the following areas:
Frequency of Remittance
Authorization of Expenditures
Fundraising Activities
Official Receipts
Monies Collected Forms
Sales Tax
Documentation of Disbursements
These were areas of concern on the FY14 Internal Accounts Audit
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FY15 Internal Accounts Audit
Testing areas from FY14 will be reviewed again in FY15:
Direct Pay – cycle “D” invoices
Cycle “2” invoices
Documentation to “R” vendors
Refunds – to district and non-district employees - No PO
Reimbursements – to non-district employees - PO required
Documentation to “E” vendors
Reimbursements – to district employees - PO required
Blanket P.O.’s
Safe access
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FY15 Internal Accounts Audit
After the auditor leaves your school the audit findings and back-up documentation will be reviewed a second time
It is possible that you will receive a phone call or e-mail from someone at McGladrey requesting more information or asking additional questions
If you have any questions or concerns during or after the audit please do not hesitate to call or email School Accounting
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FY15 Internal Accounts Audit Reports
CrossPointe/AS400 Reports
Submit only the reports listed (see envelope)
Interim Audit schools
Provide reports through May 31, 2015
due no later than June 15, 2015
Year-End Audit schools
Provide reports through June 30, 2015
due no later than July 15, 2015
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FY15 Internal Accounts Audit Reports12
General Ledgers
Printing individual account General Ledger
( CrossPointe Manual pg. 11-11)
Panel F606
Request 003
Dates: 07012014 thru 05312015 * or 06302015*
Dates may not cross fiscal years
Enter account/project number
* Depends on audit date
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Printing General Ledgers 14
INT Year-End Schedule15
INT Year-End Procedures
Balances in the GSF projects must be sent to Accounting Services by June 15, 2015 (IAM pg. 16-1)
GSF – General Service Funds:
Project #607030 – Driver’s Education Fees
Project #607031 – Fee Summer Programs
Project #607032 – Lost & Damaged Textbooks
Project #607033 – Paid Transportation
Project #607034 – School Age Child Care (see next slide)
Project #607035 – Vandalism Repayments
Project #607036 – Dual Enrollment
Balances should be paid with a Direct pay invoice Vendor #V0000218427
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INT Year-End Procedures
Cash payments for School Age Child Care (SACC) activity should be posted to project #607034, GSF – School Age Child Care (IAM pg. 5-5)
Issue direct pay invoice
Vendor code: School Name – SACC
Check is given to SACC site coordinator
Attach a copy of the General Ledger for account #607034
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INT Year-End Procedures
Review Un-Posted Invoices (see handout)
Never un-post an invoice which has had a:
check issued against it
check voided against it
Unless changes need to be made to the invoice and another check issued.
If the invoice is not needed:
DO NOT un-post the invoice
Cancel invoice by placing an “X” in the action field on the F204 panel.
Invoices which are not needed and have not had a check issued against them should be deleted.
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INT Year-End ProceduresReview un-posted invoices and resolve by June 30, 2015.
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INT Year-End Procedures
Review Cycle 2 Invoices (see handout)
The invoice amount exceeds the PO amount by 20% or greater (does not apply to Blanket PO’s)
A new accounting string has been added to the invoice
Never change the cycle on an invoice to a 2 in lieu of receiving
All cycle 2 invoices must meet the criteria for a cycle 2 and require principal approval on the paper copy of the PO
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INT Year-End Procedures
Review Cycle 2 Invoices
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INT Year-End ProceduresDirect Pay “D” Invoices (see handout)
The invoice must meet the criteria for “PO not needed” on page 6-1 of IAM
Invoices with a referenced PO do not qualify to be a cycle D
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INT Year-End Procedures
Idle/Inactive Accounts (see handout) (IAM pg. 9-1)
Review the Principal’s Report and the F601 & F603 panels in AS400
The account has had no activity for a minimum of 6 months
The account is no longer needed or the class or club is disbanded
An idle/inactive account may remain open if the account will be used in the next fiscal year
Transfers into or out of Trust accounts require approval from School Accounting
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INT Year-End Procedures
Replenishing Petty Cash (IAM pg. 16-1)
Reimbursements from District (BRE)
PO required
Deadline for entering requisition was 5/29/15
Reimbursements from Internal (INT)
direct pay invoice
Vendor: School nameBookkeepers Name
Petty Cash Custodian
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INT Year-End ProceduresRedepositing the Change Fund or Petty Cash (IAM pg. 16-1)
F609 panel
Ledger Action: G
Accounting String:
Fund: 800
General Ledger:
1112 (Petty Cash)
1113 (Change Fund)
Cost Center: Four-digit school number
Project: must be 000000
Function and object code: none
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INT Year-End Procedures
Returned (NSF) Checks (IAM pg. 16-1)
NSF checks may be written off prior to year-end
Principal approval required
Adjustment #20 Write-off NSF Check (CrossPointe manual pg. 9-2)
Attach proper documentation showing attempts made to collect the funds
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INT Year-End Procedures
Clearing Encumbrances
Purchase Order Report
Panel F819, request card 001
Email the Purchase mailbox and request closure of “Normal” PO’s, as needed
ALL Blanket PO’s will be closed by purchasing effective June 30, 2015
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Encumbrance Review
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Purchase Order Report (FB059)
Bank Confirmations
Fill in the following information only (see handout):
1. School name
2. Bank name & address
3. June 30, 2015
4. Bank Account Name
(examples: Money Market, Business Checking, Savings, etc.)
5. Bank account #
6. Bookkeeper signature, date, and printed name
(underneath signature)
7. Bookkeeper’s e-mail address
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Bank Confirmations
A separate form should be completed for each bank your school has accounts with
Include all of the bank accounts at each bank
Do not fill in the interest rate or balance sections
Do not bring this form to your bank
Send completed confirmation form(s) via courier to Jenifer Howe no later than June 15th
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Bank Confirmations
Electronic Confirmations Your school may receive an electronic bank confirmation
request.
A pre-determined authorized signer (the bookkeeper, unless otherwise noted, such as when there is no bookkeeper) will receive an e-mail to complete the confirmation process.
The subject line of the e-mail should read “Information requested by McGladrey LLP (aka McGladrey)”
There should be a link in the e-mail to click on to get started
Follow the instructions to complete the confirmation process
If you have any questions please contact the customer service number found in the e-mail
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Bank Signature &
Safe Combination Authority
Include all information requested on the form (see handout):
1) Safe combination/key changing procedures
2) Current Internal Accounts check signers
3) Employees who have access to the safe/vault
4) Employees that currently hold the positions of Principal, AP, & Bookkeeper and the date they started in their positions
5) Employees that were previously in these positions, if there was turnover during FY15 and the date they vacated the position
Form must contain principal’s signature and date
Send completed authority form via courier to Jenifer Howe no later than June 15th
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CrossPointe/AS400 Sign-On
End of business day on Friday, June 26, 2015 system
will roll to 2016. Beginning 6/27/15 change “year” to
2015
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Change to 2015
CrossPointe/AS400 Sign-On
Beginning July 8, 2015 CrossPointe/AS400 sign-on date will be:
DATE YEAR
07082015 2016
Two options:
If working in new fiscal year (FY16)
DATE YEAR
Leave dates as is 07082015 2016
If working in previous fiscal year (FY15)
June balancing only
DATE YEAR
change dates to 06302015 2015
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CrossPointe/AS400 Sign-On
Option 1: Working in new fiscal year (FY16)
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CrossPointe/AS400 Sign-On
Option 2: Working in previous fiscal year (FY15)
JUNE BALANCING ONLY
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change BOTH the Date
and the Year back to
last day in FY15.
June 2015 Balancing
Bank Statement Reconciliation If you have not received your June bank statement by
Wednesday, July 8th, please request a copy from your bank
If you are unable to balance please e-mail or call School Accounting ASAP
FY15 will be closed in CrossPointe/AS400 by the close of business on July 15, 2015
No system access the close of business on July 17, 2015 through July 19, 2015
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Voiding Checks
Checks issued in FY15 that need to be voided in FY16
Checks issued as Direct Pay or issued against a PO that is still open
Void as usual – see CrossPointe manual pg. 7-8
School Accounting will process check voids in FY16 for PO’s closed in FY15
The following items are needed:
Copy of check stub
Copy of PO
Reason for the void
Whether or not the check will be re-issued
Replacement check number (if applicable)
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Travel ProceduresDistrict (BRE) and Internal (INT) travel guidelines:
Travel form is located at:
Accounting Services website/accounting forms/accounts payable forms/travel and leave of absence form
Employee Travel (INT):
Requires a pre-approved travel expense report
No PO is required
Direct pay invoice to “E” employee vendor
Non-Employee Travel (INT):
Allowed to use the travel expense report and it must be pre-approved
PO is required for reimbursement
“R” vendor code
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Internal Accounts Manual Updates
Chapter 4: Bank and Cash Accounts
A. (1) Establishing Checking Accounts
A written request should be made to establish an account at a banking institution. The written request should be sent from the Principal to the Director of Accounting Services on school letterhead.
A. (2) Authorized Check Signers
(b) The following positions at the school are considered authorized check signers: Principal, Bookkeeper, Assistant Principal or Secretary. Any exceptions or additions to this procedure should be approved in writing by School Accounting.
(c) Only original blue ink signatures can be used to authorize a check. Electronic signatures or signature stamps are not permitted to be used for authorization.
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Internal Accounts Manual Updates
Chapter 4: Bank and Cash Accounts
A. (5) Reconciliation
A reconciliation of the checking account shall be performed monthly. It is recommended that the reconciliation be completed within two (2) business days of receipt of the bank statement, but no later than, five (5) business days.
A. (7) Online Bank Access
When online banking is available, the online activity should be limited to review only. The Principal and the Bookkeeper shall be the only authorized staff with access to the account. No online payments are permitted.
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Internal Accounts Manual Updates
Chapter 4: Bank and Cash Accounts
C. Cash on Hand or Change Fund
The dollar limits of the cash on hand or change fund shall be set at a reasonable level for each event. Adequate safeguards shall be placed over the cash at all times, e.g. cash shall be held in a lock-type change box in a secure locked location.
C. (2) Closing a Change Fund
Reworded: Remember that this receipt will be for the amount of the change fund only. The Bookkeeper must substantiate the deposit with a completed Monies Collected Form. The Bookkeeper is not to fill out the Monies Collected Form. To close out a change fund, enter a receipt/deposit with a ledger action of “G”.
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Internal Accounts Manual Updates
Chapter 4: Bank and Cash Accounts
D. Investments
Cash in the Internal Accounts checking account in excess of immediate needs shall be invested with qualified depositories for the purpose of making a profit, as required by Florida Statutes.
D. (1) Investing Idle Funds
The schools must adopt the District’s Investment Policy. Guidelines can be provided if needed.
(b) Contact School Accounting for information and assistance on the investment of funds and a listing of qualified public depositories.
E. Safe/Vault
Principal’s responsibility to determine which staff members need access to the safe/vault.
No more than 5 staff members shall have access to the safe/vault.
If a Principal believes that more than 5 staff members are required to have access, the Principal should contact School Accounting in writing for approval.
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Internal Accounts Manual Updates
Chapter 5: Receipts
B. (1)(e) Monies Collected Form
Checks received from Brevard Schools Foundation and District that would be deposited to multiple projects may be listed on one monies collected form.
D. (1)(a) School Age Child Care – Receipt of Funds
Cash payments collected by office staff member shall be deposited into the Internal Accounts GSF account for SACC and a check should be issued from the GSF account to SACC for those funds before end of year.
F (3)(d) Example #4
Removed: “An adjustment #27 should be processed in the amount of $5 to write off the bank fee.”
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Internal Accounts Manual Updates
Chapter 6: Purchasing
A. (1)(c) General Policy
Unless otherwise stated in a contract signed by an authorized representative of the District, purchase orders follow normal payment terms of forty-five (45) days, per Chapter 218.74 of Florida Statutes.
A. (2)(a-i) “Purchase Orders are not needed for”
(2)(b) now reads: Funds sent to the district
(2)(d) now reads: Funds sent to a non SBBC school for athletic events & gate receipts
Added:
(i) Employee travel reimbursements (non-employee travel requires a PO)
(j) Security guard services
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Internal Accounts Manual Updates
Chapter 6: Purchasing
B. Competitive Requirements & thresholds
(1) Purchases Less Than or Equal To $3,000.00
Purchasing Services may require solicitation of written or verbal quotations for any procurement in an amount less than $3,000.00 at the discretion of the Purchasing Director or designee.
(a) the school may obtain informal quotes by documenting telephone calls, receiving faxes, or printing on-line quotes from at least three vendors. The informal quotes must be documented either on the face of the School Internal Accounts Purchase Order or included as an attachment.
(b) Informal quotes are suggested on all single or multiple items totaling $750.00 to $2,999.99. They are not necessary if the value of the procurement is less than $750.
(c) Or utilizing solicitation, term contract, state contract, piggyback, sole source, or other exemption as specified herein. Additional approval requirements may be required for exemptions to competition.
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Internal Accounts Manual Updates
Chapter 6: Purchasing
C. Special Conditions for Internal Accounts
(1) School Store, Concessions, and Fundraising Purchases
When purchasing items with Internal Funds, the requirement for requesting informal quotes, formal quotes, or bids will not apply provided that the following two conditions are met:
(a) Items are acquired for resale to students in the School Store, for resale in school-managed concession stands or purchased for fund-raising activities.
(b) The purchase amount is less than the School Board Policy threshold (currently $25,000).
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Internal Accounts Manual Updates
Chapter 6: Purchasing
D. Purchase of Gift Cards
(2) Employees - awards and appreciation only. However, it is the employee’s responsibility to report gift cards received as income on their 1040 tax return.
Per IRS Publication 525 “if your employer gives you cash, a gift certificate, or a similar item that you can easily exchange for cash, you include the value of that gift as extra salary or wages regardless of the amount involved”
Chapter 7: Disbursements
D. Electronic Payments
Any form of electronic payment transactions are prohibited from being processed. At this time only sales tax is authorized to be paid online through the Department of Revenue website.
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Internal Accounts Manual Updates
Chapter 25 Renamed: Principal Discretion A. (1) Advertising
These revenues are generated by advertising marketing agreements entered into at the School or District level and have no imposed restrictions on how the funds are to be used within the contract agreement.
A. (2) Donations – Unrestricted
These revenues are generated via unrestricted donations from the community which are documented with a letter or a written agreement and kept on file.
Donation agreements with businesses (Target) that specify that the funds generated are completely unrestricted. A copy of the agreement should be kept on file at the school to document unless a donation payment was sent to the school through a District agreement (SCCU).
Donations received from the community in which the purpose of the funds are explicitly stated as “could be used for staff purposes”. Documentation should be kept on file to document the donator intent.
A. (3)Teacher Welfare/Sunshine
These accounts are typically funded by dues collected from staff members and are held to be used for predetermined staff purchases.
A. (4)Vending
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Chart of Accounts Updates
New Accounts/Projects (CPUM A2)
Music:
204010 Guitar
204011 Guitar Rentals
205010 Handbells
216010 Percussion
217010 Performances
General:
701020 Advertising – District
701030 Advertising – School
704020 Donation - Unrestricted
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Chart of Accounts Updates
Deleted Accounts/Projects
Athletics:
199010 Other Athletics – A
199011 Other Athletics - B
Music:
299010 Other Music - A
299011 Other Music - B
299012 Other Music - C
299013 Other Music - D
299014 Other Music - E
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Updates from previous Workshop
Teachers/staff may provide change before remitting funds to the bookkeeper
Emailed or faxed invoices are acceptable as original documents.
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New Procedures
Centralized Email:Beginning July 1, 2015
School Accounting
Electronic Monthly ReportsBeginning July 1, 2015
Scan reports in color and in the order listed on the Monthly Financial Report Checklist
Email to the School Accounting mailbox
Monthly Financial Report Supplement (see handout)
Month-end balancing and procedures
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Important RemindersRefunds
From Vendors: (CrossPointe manual pg. 3-3)
Record the deposit on the F609 panel
Ledger Action: “X”
Accounting String: 800.1530.xxxx.xxxxxx.9800.xxx
Project and object code (refer to original check issued to vendor)
To Parents: (CrossPointe manual pg. 6-5)
Create a Direct Pay invoice on the F203 & F204 panels
Vendor code: “R”
Accounting String Type: “R”
Accounting String: 800.xxxx.xxxxxx.39xx.
Project and function (refer to original MCF)
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Important Reminders
Transfers out of the General account and transfers into and out of trust accounts require approval from School Accounting (IAM Ch 9 Page 1)
E-mail School Accounting for approval
E-mail should include detail of the transfer request
During the school year the cafeteria at your school will be audited
School Accounting Auditors will ask to see the fundraising paperwork to review food sales during the day.
Remember the restrictions on food sales (Chapter 12 of IAM)
INT change fund and INT & SACC petty cash will be verified.
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Important Reminders
Deadline for setting up/replenishing the Public Relations Account is September 1
Prepare memo with proposed budget to the Area Superintendent for approval
Approval from School Accounting is required for funds transfer out of the General account #707010
Refer to Chapter 23 of the Internal Accounts Manual for allowable expenditures and expenditure limits
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School Accounting Contacts
School Accounting summer hours for June and July
Jenifer Howe ext. 615
6:30 am – 3:00 pm
Nancy Stanifer ext. 602
7:00 am – 3:30 pm
Michelle Coppola ext. 617
7:00 am – 3:30 pm
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