YEAR END PREPARATION

Grant Brown Bag Session

May 20, 2014

By: Tracy Morkunas, CPA Controller’s Offi ce

YEAR END PREPARATION TOPICS CCRI’s Year End vs. Grant’s Year end Review your grant before & after June 30th

Review Open Commitments Forward Receiving/Signed Invoices to A/P Review negative account lines Do all your expenses look like they’re there? Review expenditures you do not recognize Submit all travel & other expenses by July 11th

Review who is being paid on your grant Complete all T&E reports

Forward any Funding Source communications to the Controller’s Office

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CCRI YEAR END vs. GRANT YEAR END

CCRI’s Year End is June 30th

Whether or not your grant has a June 30 year end, there are certain actions that must be taken so that CCRI’s financial statements are fairly presented All Expenses that were incurred by 6/30/14

must be included in CCRI’s FY14 Fiscal Year An Expense is considered incurred when the

goods are received or the services is provided If the good is received June 12th, but paid on

July 10th, the expense is incurred in June

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REVIEW YOUR GRANT BEFORE & AFTER JUNE 30TH The Controller’s Office recommends that

you review your grant in Banner before AND after June 30th Although time consuming, a review before

year end can help us clean up your grant and avoid year end issues

Post year end review is also important to ensure that any changes needed were successfully completed and to make sure that nothing has hit your grant in error in the meantime

Use a checklist to ensure you’ve done it all 4

REVIEW OPEN COMMITMENTS Go to FGIBDST, enter the Fiscal Year

(currently 14) enter your Fund #, tab to the next field, then click Next Block

Once the data populates, go up to Options, select Organization Encumbrances [FGIOENC]

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REVIEW OPEN COMMITMENTS This will show the list of Open Purchase

Orders (PO’s) on your grantGo to FPIPURR & enter the PO# for more

detail

PO #

Account # the PO is on

Amount remaining on the

PO

These are ZEROs6

REVIEW OPEN COMMITMENTS For each of the Open PO’s on your grant:

If the good isn’t here yet, contact vendor to expedite

Is the PO still good? If it’s no longer going to be purchased, contact Purchasing & have them cancel the PO (liquidate blanket PO’s if not using them)

If you believe you have already received the item(s)/service on the PO, check with Accounts Payable (A/P) to see if they are missing any documentation

If you don’t recognize the Vendor Name and/or amount, look up the PO in FPIPURR for more information Mistakes can happen & you don’t want to foot the bill

for someone else’s grant!7

PURCHASING SEGMENT Cutoff Dates: See Memo from

Purchasing FY14 vs. FY15 Requisitions/Purchase

Orders FY14 Purchase Orders Rolling to FY15

Grant Director is responsible for ensuring that PO balances are correct and roll properly from one year to the next Purchasing & Accounting don’t know what the

balance should be – please notify us of potential errors

Communicate with PurchasingPhone: 401-825-2196

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WORK WITH ACCOUNTS PAYABLE Make sure that all receiving documents

get forwarded to A/P as soon as possible If you receive an invoice: review it, sign

if approving, forward to A/P – ASAP If A/P sends you receiving doc’s/invoices,

please review, sign & return immediately

Accounts

Payable

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ACCOUNTS PAYABLE SEGMENT Check with A/P if invoices you have

received haven’t hit Banner yet Watch out for invoices sent from A/P

needing signatures Communicate with A/P

Sandy Sokoll x1074; ssokoll@ccri.eduKay Fagnant x2445; kfagnant1@ccri.edu

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REVIEW AVAILABLE BALANCES Go to FRIGITD, enter your Fund#, tab to

the next field, then click Next Block

Next Block

You do not need to specify dates, they auto-populate

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REVIEW AVAILABLE BALANCES If you see that there is a negative balance,

then make sure all the expenses on that line look “ok” To view the “Activity”, click inside the column for

the specific account, then go to Options, select Grant Detail Information

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ARE ALL YOUR EXPENSES IN THERE? Review the amounts in the Activity column

and Available BalanceDo these amounts look about right?

If something seems high or low, look at the detail in the Activity column (see Slide # 12)

If expenses hit the wrong line (or you don’t think they’re yours), contact the Chief Accountant for Grants (Tracy tamorkunas@ccri.edu or x2244)

For any negative Available Balances, budget modifications should be made Email Tracy (tamorkunas@ccri.edu) and indicate

which accounts you need to move budget dollars between & specify whether Funding Source approval is necessary for the change to be made

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REVIEW EXPENDITURES For Operating Expenses (Non-Payroll),

review the detail – especially accounts with larger activity If there is a vendor you do not immediately

recognize, look up the invoice to make sure it belongs on your grant

If in FGIBDST, Click in the YTD Activity column - Click Options, Transaction Detail

Info

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REVIEW EXPENDITURES Example: During review of Educational

Expense, you don’t recognize Advanced Educational Tech.

Click on the Account number part of the line, then go to Options, Query Document [By Type]

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This will bring you to the

Invoice Query screen.

REVIEW EXPENDITURES The Query Screen will appear, click Next

Block until to you see the description

Usually after clicking Next Block 2x, the Commodity Info. will appear

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REVIEW EXPENDITURES

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If your Invoice/PO is broken down into multiple lines, you will have to hit the down button on your keyboard to view them

This means there are 15 lines to view

SUBMIT ALL TRAVEL & EXPENSES

BY JULY 11TH For all expenses that are incurred on or

before June 30, 2014, submit all expenditures to the appropriate office by July 11, 2014Travel (in-state mileage & out-of-state)

should be submitted to Jo Anne Robitaille (Controller Off.)

Receiving documents/Approved Invoices Submit to Accounts Payable

IT DOESN’T MATTER IF YOUR GRANT ENDS AFTER JUNE – ALL JUNE EXPENSES MUST

BE SUBMITTED BY JULY 11TH 18

Jo Anne: x2150

jrobitaille@ccri.ed

u

GRANT DEADLINES

When your grant’s term is ending, you must ensure ALL expenditures are

processed BEFORE the final billing/drawdown is processed

For Example: If your grant ends June 30th and the final bill is due to the funding source by July 31st, you must submit all travel & expenses BEFORE July 31st – even though the travel policy says you have longer.Otherwise, you need to find someone else to fund it!

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REVIEW EMPLOYEES BEING PAIDEnsure that only your employees are being paid on your grantGo to: NHIDIST – enter the From Date & To Date (dates are based on the pay date), enter your Fund#, click Next Block, click Execute Query

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Next ExecuteBlock Query

REVIEW EMPLOYEES BEING PAID

Check to see all of your employees are listedTo export the data into excel, go up to:

Help, select: Extract Data No Key Hold down the Control button until the screen

appears 21

IF APPLICABLE, COMPLETE ALL TIME & EFFORT REPORTS

SEND TO TRACY/WILL22

FORWARD FUNDING SOURCE DOC’S If you receive any communication or

documents from your Funding Source, forward to the Controller’s Office In FY13, RIDE announced that Adult Basic

Education grants ending June 30, 2013 must remit the final invoice to RIDE by July 2, 2013!

The communication also stated that RIDE grants ending June 30th must pay all invoices/expenses related to FY13 before the end of July

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Funding Source Docume

nt

Controller’s Office

QUESTION & COMMENT PERIOD

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