STUDENT AFFAIRS FINANCE & ADMINISTRATION Finance Training

Student Affairs Office of Finance & Administration  The Office oversees and manages the budgets and administrative functions of the Division. Additionally, the Office participates in regular audits and process reviews to ensure appropriate accounting procedures are in place. The Office of Budget and Administration also advises the Student Finance Board (SFB).Student Finance Board (SFB).  Remember communication from the Office of Finance and Business Services and/or their website supersedes any information from this training presentation.

Treasurer's Office -Finance & Business Services Overview  Purchasing  General Accounting  Accounts Payable  Budgeting  Reporting  MAPS  Purchase Orders  P-Card  Travel  Transmittal  Office Max  Web Reports  BudgetPak Units under TreasurerSystems through Treasurer The College’s fiscal year runs from July 1st through June 30th

Chartfields CHARTFIELDSCHARTFIELDS Chartfield - A group of codes representing where a bill will be paid from (i.e., cost center such as departments, programs or project/grant). Chartfields consists of a fund, class, account and (DeptID, Program or Project/Grant). Chartfield Combination – Are the combined codes for a specific department, cost center, project or grant:  DeptID is used for general college operating activity.  Programs are activities within a department that crosses multiple departments or are independent.  Project/Grants are used for construction projects and restricted Grants & Contracts  Account –The account code is a line within the budget that designates the type of transaction. 4=Revenue, 5= Expense, 6=Transfers  COA Cheat Sheet by Fund COA Cheat Sheet by Fund

Purchasing CONTRACTSCONTRACTS  TCNJ processes follow the guidelines established by the State College Contract Law and authorized by the Board of Trustees of The College of New Jersey. The guidelines cover all non-construction related goods and services.State College Contract Law  The College’s Purchasing Department has the exclusive responsibility for entering into contracts or issuing purchase orders on behalf of the College.  Contracting Routing Form ensures General Counsel is in the contract review process. Contracting Routing Form  All construction related purchases are bound by the same thresholds, laws, etc. but must be coordinated through the Construction or Facilities departments.  Departments should not enter into contracts without Purchasing’s approval.

Purchasing Guidelines AUTHORITY LEVELSAUTHORITY LEVELS  PURCHASES UP TO $2,500  Vendors must comply with The College’s terms and conditions - include this when requesting quotes.terms and conditions  PURCHASES OVER $2,500 AND UP TO $6,600 (20% of bid threshold)  Departments must solicit a minimum of three (3) quotations. The lowest quote must be accepted unless there is evidence to document otherwise. If price competition is not feasible, must provide justification.  Vendors must comply with college terms and conditions. Include reference when requesting quotes.terms and conditions  Purchases that exceed $4,950 require a New Jersey Business Registration Certificate from the vendor.New Jersey Business Registration Certificate  PURCHASES OVER $6,600 AND UP TO $33,000 (Informal Bids) Price competition required.  Departments submit the information (i.e. specifications, scope of work, etc.) to Purchasing via or through MAPS. Purchasing will solicit unsealed written quotations.  The department coordinates awarding of contract with Purchasing, and issues a purchase order.  If price competition is not feasible, departments are responsible for providing justification.  PURCHASES OVER $33,000 – ADVERTISED BIDS - Price competition required.  Departments must submit the necessary information (specifications, suggested vendors, etc.) to Purchasing via or through MAPS. Purchasing will conduct open competitive advertised bidding.  Under the State College Contract Law the Board of Trustees can permit the College to procure specific goods and services for which the dollar amount exceeds the threshold as amended (currently $33,000), outside the publicly advertised bidding process. However, a “Waiver of Advertising” will be required. Board of Trustees Waiver Requests (in memorandum format) should be addressed to the Treasurer from the appropriate Cabinet Officer justifying the circumstance of the waiver request. The justification should include the following: Description of service or item being purchased Rationale for waiver of public advertisement Number of vendors contacted (at least three if possible) including name and amount of quote (if sole source, please identify). If price competition is not feasible, departments are responsible for providing justification as a sole source purchase. Archived BOT waivers are available on the BOT website at Waiver Requests are to be submitted to the Office of the Treasurer a minimum of 4 weeks prior to the Board meeting.

Purchasing Requirements Highlights DOCUMENTATIONDOCUMENTATION  Quotes - three quotes are required when making purchases that total between $2500 and $6600.  Quotes should be secured by the department purchasing the product  Should be reported using the Quotation Summary Form (  Expectation is that the lowest quote will be awarded the purchase (terms & conditions referenced)terms & conditions referenced  Purchases greater than 4,950 should have the vendor’s business registration attached to the quote. NJ Business Certification search requires the vendor’s Federal ID number. A purchase order should be created for purchases over 4, business registration NJ Business Certification  Sole Source Justification – Used to justify purchases $2500 or more that cannot be competitively bid due to the uniqueness of the product, good or service.  Memorandum with justification  (  Informal Bids – Purchases that will be over $6600 and are not a sole source:  Purchasing Department has to conduct the bidding process  Initiate the process with an to Mark Mehler with the specifications needed or complete the Request for Proposal (RFP) form located on the Purchasing website. A purchase order should be created for purchases awarded over 4, Request for Proposal (RFP

Accounts Payable PAYMENTSPAYMENTS  Accounts Payable (“AP”) disburses non-payroll payments to students, employees, individuals and processes and pays vendor invoices in a timely and efficient manner (10 days).  Non-payroll disbursements consist of student refunds, travel reimbursements, and guest speakers etc.  Accurate and punctual payments are critical to maintaining excellent vendor relationships and protecting the College’s credit rating. The College strives for a net 30 day turn around from receipt of merchandise/service.

Finance & Business Services Payment Routing Process Check Request/Invoice Submitted Routing to ensure sufficient backup <2,501>2500 PO Invoice W-9 attached Address Corrections -Signatures -Invoice -No sale tax Packing list, Statements and invoices not properly Authorized will delay the payment process -Quotes -Sole Source -Below PO threshold of 6,600 -NJ Business Registration -PO Entered in MAPS -PO Received -PO # -Receipt # -Signed -SS # legible -Address -Address on reimbursement matches address in MAPS Special Handling -Hold/Pickup -Direct Deposit -Enclosures ICR -ICR Documents -Signatures -Dept/Cabinet -HR Approval -Invoice -W-9 (New Vendor) AP Purchasing Purchasing Vendor Entry Routing after AP paycycle HR, Purchasing, Vendor Payment Entered & Check Cut

Check Request STARTING PAYMENTSTARTING PAYMENT How do I know if a vendor is in MAPS ?

How to look up a vendor in MAPS  Go to Finance and Business Services Web Report by clicking herehere

Independent Contractor & Guest Speakers Guest Speaker/ Performer Amount 2,000 or Less Contractor with no employment relationship to The College and has no FICA or income tax withholding obligation. ICR contract amount greater than 2,000. See full definition herehere

Starting a Purchase Order  Must be authorized in the system to enter P.O.s (contact Finance & Business Services)  Step-by-Step manual 

Receiving a PO invoice RECEIPTSRECEIPTS To attached the invoice click on Add Comments and browse to attach the file. Original invoices must be sent to Finance & Business Services for payment. The PO Entry manual covers entering PO’s and receiving invoices. Receiving in the PO process indicates the merchandise has been received and the invoice is ready to be processed.

Check Distribution ISSUING CHECKSISSUING CHECKS  Properly authorized invoices and payment requests will be processed within ten (10) business days of receipt.  Accounts Payable issues checks once each week on Thursdays.  If rush checks must be printed outside the normal processing schedule, the department requiring the additional check processing must provide valid reason and receive approval from the Associate Treasurer of the College or the Director of General Accounting.  Discounts - A vendor’s agreement to reduce the price below the amount invoiced for the goods or services if payment is made within the discount period. The College benefits from these discounts, so please submit invoices before the discount period expires.  Credits – Vendor credits should be submitted to Finance &Business Services with a invoice so it can be applied to the appropriate payment.  Partial Payments – Payments should be submitted upon receipt of goods and/or services. Products partially received should be invoiced and submitted for payment.

Web Reports READING YOURBUDGETREADING YOURBUDGET  Budgeted – amount requested and received at start of Fiscal Year  Revised Budget – reflects reallocations and (rare) supplemental funding  Actuals – reflects expenditures, revenues and journal entries  Encumbrances – reflects committed funds  purchase orders  travel requests  Balances

A Web Report Sample

Journal Entries vs. Reallocations M O N E Y or E X P E N S E S  Journal Entry – move expenses from one budget line to another.  Moving from one fund code to another  Within a fund code  Authorized by the budget manager  Reallocations – move money from one budget line to another  Realigning money to manage impending expenses  Contributing funds towards an impending expense in another budget.  May require increased levels of authorization.  Can be sent directly to Jamie Sirover in the Treasurer’s office.

Student Affairs Finance & Administration Ceil O’Callaghan Director of Administration Tammie Brown Business Administrator  Budget Management/Web Reports  Preparing Budgets (Managers) Contact Information Spring Trainings Phone: x3118 Phone: x3327

Questions & Answers  Q&A