Georgia Institute of Technology

Fiscal Year 2007 CloseoutTown Hall Meeting

March 22, 20079am - 11am

Student Services Building, Room 117

AgendaAgenda

Closeout Memo Review Sandy Mason

Procurement Update Judy Whitfield & Sharon Jackson

Payroll Update Maryann Fogarty

SPD Update Robert Ellington

Questions from the Audience for:

(AP, Acctg Svcs, Budgets, Bursar, CAAD, G&C, HR/Payroll, Purchasing, SPD)

Close Out Memo ReviewClose Out Memo Review

Sandy MasonController’s Office

Procurement UpdateProcurement Update

Judy Whitfield Associate Director, Procurement

Sharon JacksonAssociate Director, Procurement

Important Purchasing Deadlines

Follow chronological close out dates-posted on Procurement and TechWorks web sites

Submit EDP to OIT at least 5 business days prior to deadline

All requisitions must have required documentation prior to processing

Open Encumbrances at Year-End

Change Request Forms must be submitted via TechWorks by Monday, June 11, 2007.

The Year End Open Encumbrance Report (GTPR262) will be available exclusively on TechWorks Run/Print/Review on July 1, 2007

Return with request to close encumbrance by July 3, 2007 – 5PM

No accounting changes or increases

FY 08 Purchase Orders

No FY 08 requisitions can be entered until July 1, 2007

Notice of Intent to Issue Purchase Order form located on the Procurement Services form bank

FY 08 transactions will not be available on any financial reports until July 16, 2007

Important P-Card Deadlines

Transactions posted by bank by Tuesday, June 27, 2007 will be recorded in FY 07.

Transaction information available on Wednesday, June 28, 2007.

Redistribution via web must be completed by 4:00 PM on Friday, June 29, 2007.

Redistribution via the PCard redistribution journal entry must be completed by Thursday, July 5, 2007

PCard may not be used to purchase prepaid registrations for FY08 using FY07 funds.

Accounts Payable Deadlines

Thursday, June 21 Last day for approved invoices and Check

Request Forms for guaranteed FY07 payment Note: requests must be properly approved with valid

accounts, supporting documentation, and sufficient encumbrance (for invoices)

Hand deliver urgent requests to a manager after this date to ensure processing by year-end

Pre-Paid Expenses What are they?

Payments that must be made this fiscal year for an expense for a future fiscal year. Examples include registrations and airfare purchases paid prior to 6/30 for a FY08 conference/trip.

How do we make payments this FY? Submit CRF or TES marked ‘Pre-paid Expense’ and include

next FY’s project account. No P-Card charges allowed for future fiscal year expenditures.

How are they posted? This FY they are posted to a pre-paid account, but charges

will be moved to the FY08 project/expense account in July.

FY08 Accounts Payable Transactions

The system should be available on Monday, July 2nd to begin processing payments for FY08

First check run: July 2nd

Expenses will not post to ledgers or the GT Data Warehouse (web payment look-up tool) until 3rd week of July, but TRUST US, “The check is in the mail”

FY 07 TES Processing

5/18 - Last day for TES submission for 4/30 and prior

6/8 - Deadline for 5/1 – 6/4 trip end dates

6/15 - Deadline for 6/5-6/13 trip end dates

6/22 - (noon) Deadline for 6/14-6/22 trip end dates

6/23-6/30 - Trip end dates will be processed after July 1st, using FY08 funds unless hand delivered to a manager prior to noon on June 28th

Travel: Direct Billing of Airfare

New This Year: Monthly Posting of Travel Agency Charges on a Credit Card that Provides Insurance Benefits

Any travel agency charges booked to an Institute credit card after May 17th will be posted to FY08

6/23 - Last date for direct billing of airfare to post to FY07 ledgers for travel prior to 6/30.

To use FY07 funds, travelers can always use personal credit cards to book air travel and we can reimburse using this year’s funds if submitted by 6/22.

Travel Encumbrances

New This Year: Travel encumbrances using sponsored funds

will carry forward for 90 days after fiscal year end. On 9/28/07, any open balances will be closed.

All open encumbrances using non-sponsored funds (including any related registrations fees on the same requisition) will be closed by Thursday, June 28th.

Payroll UpdatePayroll Update

Maryann FogartyDirector of Payroll

Payroll UpdatePayroll Update

UNCOLLECTED CHECKS:

Return to Payroll immediately

PSF’S

HAND DELIVER TO PAYROLL BY:

May 11 For May Payroll/Summer Pay

June 15 For June Payroll/Summer Pay

Payroll UpdatePayroll Update

TIME DOCUMENTS:

TIME EDITOR WILL BE AVAILABLE FROM

8 AM June 7 Through 5PM June 8

8 AM June 21 Through 5PM June 22

OFF CYCLE CHECK REQUESTS:

Due in Payroll Wednesday, June 13 by 12:00 Noon

Summer Pay Processing Calendar

PeriodBegin Date

End Date

New Hire PSF Due in OHR Comp/RFE

Payroll

Last day to Enter Summer

Pay for this Pay Period

Pay Date

01 May 14 May 31 May 4 May 22 May 3102 Jun 1 Jun 30 Jun 8 Jun 20 Jun 2903 Jul 1 Jul 31 Jul 6 Jul 23 Jul 3104 Aug 1 Aug 17 Aug 7 Aug 20 Aug 31

Academic Contract Pay

All other months start or end pays are prorated based on days worked divided by the total work days in that month.

August & May are ½ month pay regardless of the start or end date.

Full months are paid September through April.

GRADUATE STUDENT PAY

GRADUATE STUDENT PAY IS PRORATED

AUGUST 2007 13 DAYS 1ST HALF

10 DAYS 2ND HALF

MAY 2008 7 DAYS 1ST HALF

15 DAYS 2ND HALF

Robert EllingtonDirector, SPD Center

SPD UpdateSPD Update

Early ASRs: For staff and students terminating in May that are under the Plan Confirmation System:

In April, SPD Center will query Payroll Database for Terminating Employees in May. (Please have PSF Term actions processed)Send Departments list of Terminating Employees for Early ASRs.Departments will have a week timeframe to ensure distribution is correct for each employee on list. SPD Center will print early ASRs for each Department and mail.Departments should obtain employee certification on the Early ASRs and return to the SPD Center.

No changes to the distribution on the early ASR can occur after they are printed or the certification is void and we will have to recertify.

SPD UpdateSPD Update

Year End Close Dates:

June 29 - Last Day for Paper SPDs

July 3 - Last Day for Campus Online SPD Redistributions

July 13 - Mail FY07 Annual Statement of Reasonableness Obtain Employee signature Do not sign for employee If employee not available, supervisor or PI sign as First Hand Knowledge (Department Chair in rare instances) UFO sign on separate certification line.

July 16 - SPD Open for FY2008

August 31 - Return Signed & Certified ASRs to SPD Ctr.

SPD UpdateSPD Update

Group Position Budget Load for FY2008 Refresh:

For students in Group Positions not in the Budget Load that are paid on Sponsored Funding in June 2007, the following Future Periods will be populated in SPD:

o FY08oPeriod 1 July - 100% June 2007 distribution (ENC distribution will carry thru to December 2007, Period 6)

o Period 7  January -  100% xxx6580/6680 projects (ENC distribution will carry thru to June 2008, Period 12)

SPD UpdateSPD Update

Group Position Budget Load for FY2008 Refresh:

For students in Group Positions not in the Budget Load that are paid on State Funding in June 2007, the following Future Periods will be populated in SPD:

o If June 2007 distribution on xxx1111 / xxx1112 (even year) proj. oFY08

oPeriod 1 July - 100%  June 2007  distributionoPeriod 2 August - 50% June 2007 distribution

50% on xxx1200 projectoPeriod 3 September -  100% on xxx1200 project (ENC distribution will carry thru to June 2008, Period 12)

oIf June 2007 on any other State projectsoFY08

oPeriod 1 July -  100% June,2007 distribution (ENC distribution will carry thru to June 2008, Period 12)

SPD UpdateSPD Update

Questions from Audience• Accounts Payable

• Accounting Services

• Budgets

• Bursar

• Capital Assets Accounting (CAAD)

• Grants & Contracts Accounting

• Human Resources/Payroll

• Purchasing

• SPD Center