04/21/23 1

Presenters:Budget Office

Business & Financial Services

Payroll

Sponsored Programs

Overview

Presented by Lynn Johnson

04/21/23 2

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 View From 50,000 Feet”

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 2008Good News!!!

Only One Minor Change

Accounts Payable - Accrued Liabilities

Item to Note:

Bursar’s and Cashier’s Offices have Moved- Cashier’s Office – 1st Floor LSC

- Bursar’s Office – 1st Floor 555 S. Howes Street

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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

Nancy McDonald 491-6556

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Budget NewsBudget News

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

Deadline – June 9, 4:00 p.m.

Designated Future Commitments (DFCs)Deadline – June 10, 4:00 p.m.

New accounts needed to support new year staffing processDeadline – June 20, 4:00 p.m.

Budget Change Requests (BCR)Deadline – July 7, 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)Cooperative 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 NewsBudget 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 10, 2008

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 491-1363Travel, AFE/PO Questions

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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 2008 – payable entry (this is an estimate)We charge/debit your account (YAP batch)

FY 2009 – reverse payable entry and pay vendor1. We credit your account (YAP batch)2. We pay the vendor and charge your account

again (APD batch)

Net effect of FY 2009 entries is zero (or close to zero)

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Authorization for Expenditures (AFE’s) Fully routed and approved in CIS prior to

June 30, 4:00 p.m.

payable entry will charge your account for the unpaid balance on the AFE

Contact Accounts Payable in advance for known discrepancies

04/21/2316

Purchase Orders (PO’s) -- Charged to FY 2008 Service & Maintenance POs (P3xxxxx) 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 30usually no payable entry

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

were received by June 30

04/21/2317

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 2008. Plan purchases to allow time for vendors to process to ensure transactions are recorded in FY2008.

S type purchase orders – charged to FY2008 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.

04/21/2319

Travel

Submit Travel vouchers with an end trip date of June 30th or prior by July 3, 4:00 pm to be expended in FY 2008

This is especially important for travel on 5-3 accounts with a June 30, 2008 project end date

04/21/2320

Accounts Payable Issues - ACARD ACARD

Charged according to the day Bank One posts the transaction

Transactions received by July 3, 6:00 p.m. with a transaction date prior to June 30, will be charged to FY 2008

Transactions not reallocated by July 7, 6:00 p.m. will be charged to the default account in FY 2008

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

are made in late June to hit FY 2008. 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 2009.

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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 2008 Hourly Timesheets

Pay Period Ending June 20 (Payday July 3)Due June 24, 12:00 noon

Clear Salary Clearing Accounts (5394xx)Due June 30, 3:00 p.m.

No salary may post to Salary Clearing Accts in June

Final FY 2008 Labor RedistributionsDue July 7, 3:00 p.m.

04/21/2325

Payday Shift from June to July June 20th hourly payroll pay period

ending June 6th, paid on July 1st

Please notify your hourly employees

June 30th salary payroll paid on July 1st

Please notify your salaried employees

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Accounts Receivable Information

Presented by Janet Fox

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Accounts Receivable Operations Contacts

Trish Torrez 491-6661

Janet Fox 491-6663

TWARBUS and ARIES Billing System entries

Department Payment to Student Accounts (DPSA)

04/21/2328

Accounts Receivable Operations Issues - ARIES Billing System

Paper Documents (except DPSAs)

Due June 20, 4:00 p.m.

Load Sheets

Electronic Uploads to ARIES Billing System

Due June 27, 5:00 p.m.

Allow an extra day for new customers

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Accounts Receivable Operations IssuesDepartment Payment to Student Accounts DPSA’s

Uses Graduate Assistant Tuition Payments Discretionary Scholarships Fellowship/Sponsor Designated Scholarships (53 & 99 funds only)

Unapproved DPSA’s - Due June 20, 4:00 p.m. in Account Receivable Operations

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

04/21/2330

Bursar/Cashier Information

Presented by Brian Grube

04/21/23 31

Bursar/Cashier Contacts

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

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

04/21/2332

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 Attach Custodian Change Form to Confirmations

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 CIS document completed by June 30, 4:00 p.m.

Reduce/close funds no longer needed Use “Change in the Amount of the Fund” form found at

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

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Sponsored Programs Information

Presented by Pam Harrington

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Sponsored Programs Contacts

Richard Batman 491-4637 Applied Human Sciences; Liberal Arts; Natural Sciences; Dept 1371

Cliff Choury 491-0440 Agricultural Sciences; Experiment Station; Extension; VP for Administration

Pam Harrington 491-2389 Salary Clearing; Over Expenditures; Sweep: 88 Accounts; Special Issues

Clint McBlair 491-403864 Accounts; 88 Accounts; Cost Share Accounts

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Sponsored Programs Contacts Darby Nabors 491-1562

Engineering - except Dept 1371

Dawn Sharkey 491-4867Werner College of Natural Resources

Judi Wadman 491-3599Academic Administration; Veterinary Medicine; VP for Research; CSFS

Rhonda Wolschlager 491-3391-WCNR 491-3503-OSPWerner College of Natural Resources - mainly CEMML Veterinary Medicine - Clinical Sciences & Biomedical Science

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Sponsored Program Issues Clear Salary Clearing Accounts (5394xx)

PPDA’s to clear any remaining balances are

due June 30, 3:00 p.m.No salary, including hourly, may post to

Salary Clearing Accts in June

Final journal entries to all accounts including departmental approvals, due July 8, 12:00 noon

04/21/2338

Sponsored Program IssuesState of Colorado Agency ProjectsEnding June 30, 2008 (530002 - 530799)There is only one opportunity to submit an invoice to the State of

Colorado.  No revised invoices will be accepted.

Deadline: June 20, 4:00 p.m.Notify 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 30, 4:00 p.m.All goods and services must be received.All encumbrances must be cleared.

All 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, 2008

04/21/2339

Over Expenditures on 5-3 Accounts

At year end, Sponsored Programs pulls weekly reports for overspent accounts on June 16, 23, 30, and July 7. 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 7 so will not appear on the over expenditure list generated that day. However, when indirect cost posts the night of July 8th, 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 by June 19

All 64 fund balances roll forward to FY 2008

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Business & Financial ServicesCampus Service Information

Presented by Valerie Monahan

04/21/23 42

Campus Services Contacts Valerie Monahan 491-3001Engineering, Natural Resources, Natural Sciences, VP Research,

Colorado State Forest Service, External Audit Contact, Auxiliaries, VP Student Affairs

Janet Bebell 491-6655Athletics, Applied Human Sciences, Veterinary Medicine, Liberal Arts, VP Advancement & Strategic Initiatives

Laura Streit 491-7099Board of Governors, President’s Office, Provost, Agricultural Sciences (Agricultural Experiment Station), Business, VP Administrative Services, VP Enrollment, VP Public Affairs VP Information Technology, VP Outreach/Strategic Partnership, VP Graduate Affairs, VP Undergraduate Affairs

04/21/2343

Consumable Inventories, Why do we do this?

Balance Sheet Asset

Conduct Year End Inventory Count

Inventories < $100,000 counted every other year>= $100,000 counted yearly (State of Colorado policy)

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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

04/21/2345

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.

All revenue earned, but not billed in FY08 needs to be recorded in FY08 – Accrual Basis of Accounting

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

04/21/2346

Account Balances at June 30th

Credit Card ClearingSubcode 5650 must have a $0 balance

24 FundGL object code of 16xx must have a $0 balance

All clearing entries need to be input by July 8, 12:00 noon

04/21/2347

Account Attributes Changes to account attributes (account title,

responsible person, etc)Due June 23, 4:00 p.m. to Campus Services

Accounts no longer needed should be zeroed out and deletedDue June 23, 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 8, 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 – November.

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Financial Reporting & Analysis Contacts

Gail Michaud 491-7134

Financial Reporting Sally Tschirhart 491-2423 Juliet Mehls 491-6693 Jennifer Stamp 491-1871 Sue VanderVliet 491-6750

Plant Funds & Leases Janice Inman 491-6752 Sheree MacNaughton 491-624204/21/23 50

Property Management Contacts

Debra Ellison 491-2270

Mack Freestone491-1358

Jennifer Kahrs 491-1045

Theresa Todd 491-1428

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Business Systems Services Information

Presented by Joe Sparks

04/21/23 52

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 13, 20, 27 and

July 3, 8, 23

Additional run with monthly Payroll – June 20

Final run – July 23

Reports available on next day - midday

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FRS On-Line Access Your access will change from FY 2008 to FY 2009 on

July 7, 7:00 p.m.

All direct FRS online input due – July 7

A second (9xxx) operator number is needed after July 7 for FY 2008 access

If you had a 9xxx operator number last year, that operator # will be set up automatically for you this year (password emailed week of June 23)

Otherwise contact Connie for a 9xxx operator #Always use your regular operator # on

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FRS Data Warehouse Tables

FY 2008 data will move from the previous month tables to the history year tables the night of July 23

FY 2009 data warehouse tables updated daily (M-F) starting June 30

FY 2005 transactions will be deleted from the data warehouse on June 27

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“Delphi”

FRS Data Warehouse Tables

FY 2008 data warehouse tables updated daily (M-F) through July 23

FY 2008 data will move from the current month tables to the previous month tables the night of June 30

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“Delphi”

June Dates & DeadlinesThe number of the slide appears in parentheses

June 8 New departments identified to OBIA (10)

June 13/20/27 FBM092 reports for campus (55) June 20 A/R paper documents &

unapproved DPSAs to Accts Receivable (32)

June 20 New account requests submitted to support new year staffing (10)

June 23 Changes to account attributes (50)

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June Dates & Deadlines June 23 Closeout accounts no longer

needed (50) June 20 Closeout 530xxx State Project

accounts that have a June 30, 2008 end date (41)

June 26 Approved DPSAs to Accounts Receivable (32)

June 24 Hourly Timesheets Pay Period Ending June 20 (27)

June 27 Electronic Uploads to ARIES (31)

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June 30th Dates & Deadlines Inventories counted (47)

CASHNet deposits created/delivered to Cashiers (35)

AFE created and approved in CIS (18)

Receiving on POs (21)

Begin FY 2009 Data Warehouse updates (59)

FY 2008 Data Warehouse, current month tables move to previous month tables (58)

FBM092 reports for campus (56)

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July Dates & Deadlines

July 1 Petty Cash Confirmations (36)

July 1 Inventory Certificates (47)

July 3 Travel documents (22)

July 7 Budget Change Requests (BCRs) (10)

July 7 Direct online FRS input (57)

July 7 Campus FRS online access changed to FY 2009 (57)

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July Dates & Deadlines

July 7 Final Labor Redistributions (27)

July 7 Acard reallocations (23/24)

July 8 CIS journal entries (51)

July 8 FBM092 reports for campus (56)

July 23 Final FY 2008 FBM092 reports for campus (56)

July 23 Final FY 2008 Data Warehouse tables updated (59)

04/21/23 62

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

Purchasinghttp://www.purchasing.colostate.edu/

Sponsored Programshttp://www.research.colostate.edu/

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

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Questions ?

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