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CA
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PUS CONTROLLER’S OFFICE presen
ts FI$CAL NEWS
Area Accounting | Central Operations | Campus Controller Compliance
Cost Accounting | Sponsored Projects Accounting | Technical Operations
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Prep Now for Fiscal Year End
Save the Date! CCO Fiscal Year End Town Halls - June 6
Processing Payment Reminders (from the PSC)
Think CU Marketplace First Before Making a Purchase
New Procedural Statements
CU Innovation & Efficiency (CUI&E) Awards
Meet Cindy Pickett, Executive Aide for Projects and Initiatives
m-Fin Financial Statements Training
Learn About the New Buffs Surplus Tool and Join Us for a Free Lunch!
Property Training - May 18
MAY 2017
Campus Controller’s Office www.colorado.edu/controller2 3
. INSTRUCTIONS .Click here to access full descriptions
and to add an event to your personal calendar.
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May 2017
MAY - JUNE 2017
• Check for unposted May journals to correct, approve, or delete
• Reminder: please do not create, validate, or approve May JEs after 6:00 pm
• Finance System Campus Close for May 2017 – 6:00 pm
• May allocations run and Finance System closes. Please do not create, validate or approve any May journals today
• All unposted May Journals will be deleted starting at 10:00 am
• Campus Closed - Memorial Day
• Creation/validation/depart approval of JEs and PETs for Fund 30/31 projects and Fund 34 gift funds due by 6:00 pm
• Deadline for fully approved expense reports
• Allocation changes and creates due for May business to: [email protected]
• Sales tax documentation for the previous month’s sales tax is due from departments to: [email protected]
• All unposted Apr Journals will be deleted starting at 10:00 am
• Apr allocations run and Finance System closes
• CIW is now updated with month-end closing entries. Apr statements are ready for review and reconciliation
• Finance System Campus Close for April 2017 – 6:00 pm
• Gift Expenditure cut-off to make the May 5 CUF wire transfer
1 2 43• Last Day of Classes• Cinco de Mayo
• Check for unposted Apr Journals to correct, approve, or delete
• Gift Expenditure cut-off to make the May 12 CUF wire transfer
• m-Fin Statement Reading Training
• Gift Expenditure cut-off to make the May 19 CUF wire transfer
• Gift Expenditure cut-off to make the end-of-month CUF wire transfer
• CIW is now updated with month-end closing entries. May statements are ready for review and reconciliation
Campus Controller’s Office4 www.colorado.edu/controller 5
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FY 2017. Also, be sure to process Study Subject Payments, Pay-ment Authorizations, and vendor invoices before the deadline
Plan Your Year-End General Fund BudgetThe deadline to process continuing budget changes for FY 2017 was April 15, as noted in CCO’s April newsletter. However, depart-ments should compare budgets to actuals through mid-May to proj-ect whether the amount available is adequate to cover anticipated expenses through June 30. Make appropriate temporary budget or spending adjustments
Resolve Gift Fund DeficitsEliminate deficits in Fund 34 SpeedTypes. Be sure there is enough money in CUF linked SpeedType fund accounts to cover expenditures made near year-end. For unlinked SpeedTypes, monitor spending and cash balances to avoid deficits
Record Sub-Award Estimates for Sponsored ProjectsObtain an estimate of work performed through June to determine if a manual accrual is necessary
Understand Balance Sheet-Related Year-End Requirements• Plan year-end inventory counts and adjust the department’s bal-
ance sheet to the actual count value• Submit accounts receivable that need to be written off based on
CCS Recommendation for Write-Off Reports to CCO• Reconcile your departmental customer detail to all relevant bal-
ance sheet accounts. For example, items such as: A/R, prepaids, unearned revenue, etc.
Reimburse Petty Cash FundsReimburse petty cash funds at least every three months, and at the end of June by the PSC’s year-end deadline to submit Payment Au-thorization forms.
Questions? If you need assistance, please contact your Area Accountant. The CCO FYE webpage containing deadlines and other resources will be available in late May. Stay tuned!
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CCO UPDATESKickoff Fiscal Year End (FYE) 2017 by attending an informative CCO Town Hall on June 6. You are invited to attend either the morning or the afternoon session.
Join us to learn what you need to do to prepare for FYE, which essential accounting tasks and processes must be completed in order to close out your FY 2017 books, and what resources are available to assist your department.
Save the Date! CCO Fiscal Year End Town Halls - June 6
Session Details:
Date: June 6, 2017
Morning Session: 9:30 - 11:00 am
Afternoon Session: 1:30 - 3:00 pm
Location: Eaton Humanities, Room 150
The university’s Fiscal Year End (FYE) marks the completion of CU’s twelve-month accounting period. Now through
June 30, 2017, department and campus personnel with financial responsibility will complete long-established year-end closing processes to record receipts, revenues, disbursements and expenditures in the appropriate fiscal year (2017 or 2018). During this process, we perform various audits and review multiple reports and financial statements to ensure CU Boulder has accurately recorded transactions that have occurred throughout the 2017 fiscal year.
To guide the overall process, the OUC’s comprehensive FYE calendar and InfoPacket will be posted on their site,
with a link from ours under the FYE tab (coming soon). From there, CCO will develop Boulder’s Campus calendar designed to indicate which dates are relevant for CU Boulder Campus departments. Look for the campus calendar in late May.
In the interim, the information below is intended to help you determine which items and tasks you should complete now in preparation for FYE, so you do not miss a critical deadline:
Review Your Department’s SpeedType(s)• Confirm transactions are for the correct amounts and
posted to the appropriate SpeedTypes/Account Codes• Complete JEs for prior period errors/adjustments• Review source documentation. Is every transaction prop-
erly posted (including Concur Travel & Expense System and CU Marketplace activities)?
Complete Final Reconciliation Steps• Process JEs to correct any errors • Process PETs to correct payroll errors• Properly document the fact that the review and reconcilia-
tion was completed
Clear Clearing SpeedTypes/Account Codes• 013109 - Company Card Personal Charges. The reim-
bursement from the cardholder and the original Concur charge should net to zero ($0) in the same SpeedType/Account Code
• 553201 - Company Card Unallowable Expense is used when an expense is allowable but the procurement method was incorrect (i.e., hotel charge on a Procure-ment Card). Be sure to move the business expense to an appropriate Account Code
• Process PETs to move salary expenses recorded to de-partmental payroll suspense SpeedTypes
• Clear any SpeedTypes that your org uses for temporarily placing transactions awaiting final distribution
Update Concur and CU Marketplace• Make sure all FY 2017 expenses in Concur have been
assigned to expense reports and allocated appropriately as early as possible
• Before the July 3 cutoff, complete all receiving in CU Marketplace for goods and services >$5,000 received in
Prep Now for Fiscal Year End
Think CU Marketplace First Before Making a Purchase
Below are a few reminders to help you process invoices and payments to stay on track for FYE:
Invoices and Payments• Scan and email invoices and payment forms to
[email protected]• PO Number – must be referenced on the invoice• SPO – verify the SPO has sufficient funds to cover
purchases• Document quality – make sure each invoice/form is
legible• Paper vouchers (forms) – complete all fields, obtain
approvals, attach supporting documentation• International Payee – Require review/pre-approval from
International Tax Specialist• SSP form – Requires W9/W8 if first-time payment or if
there are changes• Processing time – allow 2-5 days; processed on a first-
in/first-out basis
SOW PaymentsStatements of Work or SOWs are:• Required when payee is an independent contractor
(they operate under SSN)• Used for payments processed in CU Marketplace:• If the total of all payments is >$5,000, use the Non-
Catalog form in CU Marketplace and attach a fully approved SOW form; email the PO invoices to [email protected]
Processing Payment Reminders• If the total of all payments is $5,000 or less, use the Payment
Voucher form in CU Marketplace and attach fully approved SOW form and invoice
Travel and Procurement Card Charges• Reconcile Travel Card charges at the end of your trip• Reconcile Procurement Card charges monthly
Need to make a purchase? CU Marketplace supports a competitive purchasing experience that is fast, convenient, and offers consistently fair prices.
• Ensures your department receives CU-negotiated contract rates - leveraging the university’s buying power
• Eliminates the requirement to allocate purchases in Concur• Automatically uploads transactions into the Finance System• Facilitates electronic invoice processing - no need to monitor
Procurement Card purchases!• Stores your shipping address for future purchases
Additional details are available in the PSC Communicator. For more information regarding roles and activities in CU Marketplace, visit: http://www.cu.edu/psc/cu-marketplace.
Campus Controller’s Office6 7www.colorado.edu/controller
&TrainingEvEnTs
The CUI&E program offers employees an opportunity to share how they have helped their department or campus implement new business processes, improve communication, build community, or created efficiencies designed to save time and money. Each year, this program awards cash prizes for the best ideas. This year’s CUI&E Awards Ceremony is Monday, May 15, from 11:30 am to 1:00 pm, at the CU System Office located at 1800 Grant Street in Denver. Please join our Boulder Campus colleagues - six (6) teams (!) out of 10 semi-finalists - to learn about what they have implemented and how it might help your unit:
• Total Supply Chain Integration Model (TSCIM) by Jeff Darling, C.P.M.• Research & Innovation Office Bulletin by Chris Yankee and Allison Miller• Office and Custodial Supply Delivery by Tim Golden, Ron Reid, Jon Sherman, Jack Brubaker, and Duane Tucker• Mobile Device Management Model by Jonathan Moore, Ferris Alexander, and Charles Whitecotton• The Inclusive Excellence Initiative by Kelsey Draper and Ferris Alexander• Event Tracking Process by Alex Holmgren
To learn more about the program, please visit: http://www.cu.edu/controller/innovation-efficiency-awards. To read about current submissions, go to: http://www.cu.edu/controller/cu-innovation-efficiency-awards-2017-submissions.
Property Training - May 18
CU Innovation & Efficiency (CUI&E) Awards
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New Procedural Statements
Training May 9m-Fin Financial Statements Training is held every other month. In this class, you will learn how to access the Cognos Reporting System and how to read m-Fin statements.
This month’s class will be hosted May 9 from 9:00 am - Noon.
Classes are held on the East Campus - Marine Street Science Center (MSSC), located at 3125 Marine Street, Room W179.
To register please email: [email protected]
m-Fin Financial Statements Training
Two new procedural statements have been approved and posted to the OCG website regarding IDC on the Transfer of Existing Sub-awards and Sponsor Contact Guidance. These procedural statements are the outcome of two working groups comprised of staff from the Office of Contracts and Grants, Sponsored Projects Accounting and campus stakeholders.
IDC on the Transfer of Existing SubawardsThis procedural statement provides guidance on the charging of indirect costs when an existing outgoing subaward is changed during the life of a project. Full IDC will be charged on the first $25,000 of all new subawards that are issued to an institution when subawards are modified in the following cases: To continue the work of a subrecipient PI who has transferred to a new institution; to replace an exist-ing subrecipient with another; to issue additional funding to a subrecipient when a supplemental proposal results in an expanded scope of work for the subrecipient. Complete details can be found in the IDC on the Transfer of Existing Subawards procedural statement.
Sponsor Contact GuidanceThis guidance document provides detail on both pre- and post-award roles of investigators and other sponsored project personnel, departments, the Office of Contracts and Grants (OCG), and Sponsored Projects Accounting (SPA) for contacting a project’s sponsor. Adhering to these guidelines will enable investigators and any sponsored project personnel to focus on research and facilitate efficient and effective communication throughout the award administration process.
Reference the Sponsor Contact Guidance for a list of situations addressed.
Learn About the Buff Surplus Tool and Join Us for a Free Lunch!
Join the Office of Contracts and Grants for Property Training hosted by Pat Dodson.
Date and Time: May 18, 9:00 - 11:00 amLocation: ARC 620
Topics covered in the training will include:
• Definitions of property and proposal development tips• Award terms and conditions for property• Sponsor requirements for purchasing, management and use• Award property closeout
If you have any questions, contact Pat Dodson. Register at http://www.colorado.edu/ocg/training/managing-sponsored-project-property
Want to learn more about a great new resource to help share property? Do you have property that is no longer needed by particular lab or department, but is in good working order? We can help!
Join us May 1, 8, or 9 from Noon to 1:00 pm in the C4C Treehouse Room.
Buff Surplus is a website designed to facilitate the exchange and re-use of surplus property between campus departments (lab equipment, furniture, computers, and more). By using the site, you will help save funding, reduce waste on campus, maximize property utilization and avoid premature property disposal.
To join us for lunch, please RSVP to [email protected]
We look forward to seeing you there!
Cindy Pickett joined the Campus Controller’s Office in March of 2017. She serves as the Senior Executive Aide for Projects and Initiatives, reporting to AVC and Controller, Laura Ragin. This role focuses on strategic development and/or implementation of special initiatives and projects. Cindy earned her M.S. in Finance from Colorado State University and acquired the Chartered Financial Analyst (CFA) designation shortly thereafter. She spent a number of years managing investments for government entities, trust funds, endowment funds, and university operations. Prior to CU, she also worked as a business manager for a variety of small Boulder-area companies, including a music school, an architectural firm, and two non-profit associations. Most recently, Cindy worked for Senior Vice Chancellor and CFO, Kelly Fox, supporting Kelly and her leadership team in a variety of campus-wide efforts and initiatives. Prior to that appointment, Cindy spent six years as the Budget and Finance Director for the Office of Diversity, Equity, and Community Engagement (ODECE) and the Office of Undergraduate Education. Contact her at [email protected].
Meet Cindy Pickett, Executive Aide for Projects and Initiatives
Campus Controller’s Office3100 Marine Street, 4th Floor, 579 UCB
Boulder, CO 80309-0579
phone 303.492.3166
email [email protected]
web http://www.colorado.edu/controller
editor [email protected]
