New Staff Induction Programme Finance Research Finance February 2017

Agenda Introduction to the Finance Department Finance Organisation Structure Briefing on the budget process or Resource Allocation Model (RAM) Financial Services Financial Support for Researchers

Introduction Excellence in teaching, learning and research Adherence to regulatory governance and legislation Providing a broad portfolio of financial services Maintaining financial stability Excellence in teaching, learning and research

Finance Division Organisational Chart

Finance department organisation Budget & Management Reporting RAM/Budgets Monitoring activity Management reports Fees Office Accounts Receivable Ancillary Income & FEC Operations Purchase to pay process Expenses Payroll Treasury including Bank & Cash Financial accounts & fixed assets Research accounts Systems Declan Hannan Rosemary Fogarty

Finance department organisation Budget & Management Reporting RAM/Budgets Monitoring activity Management reports Fees Office Accounts Receivable Ancillary Income & FEC Declan Hannan Devolved Budget Annual budget cycle Income / Resource Allocation via RAM Budget Model

Strategic Context The Finance Department plays a key role in the development and delivery of the University’s Strategy that is set out in Broadening Horizons, UL strategic plan 2015-19 Strengthen the alignment between resource allocation and strategic priorities Diversify income sources from academic, non-academic and commercial activities Refine the annual budget process

Link Resource Allocation to Strategic Priorities RAM - Resource Allocation Model RAM Teaching Allocation RAM Retention Allocation RAM International Student Allocation RAM Research Allocation

Budget Process - UL Devolved Budgeting Model Recruitment Planning/Pay Budget State Grant RAM Devolved Budget Student Intake Income Forecast Other Income Non Pay Budget 9

Devolved Budget Executive Committee approves RAM allocations Faculties/Divisions Set expenditure budgets within RAM allocations Ensure budgets plans are consistent with Strategic Plan Finance Co-ordinate and manage the budget process Assess budget risk and propose budget strategy Finance support maximisation of resources Information, reports, analysis, budget management, training etc.

Diversify Income to Maximise Non State Income Total RAM Income Trend

Finance department organisation Operations Purchase to pay process Expenses Payroll Treasury including Bank & Cash Financial accounts & fixed assets Research accounts Systems

Financial systems ERP system AGRESSO ERP system Extensively used in the sector – used at 4 Irish Universities On going development – current focus Purchase to Pay Interact via online purchasing, online expenses and online flexible reporting (hierarchy of reporting CORE Payroll Highly integrated to CORE HR Self service Tribal Student Fees

Financial systems Large payroll approx. 2,100 payslip monthly PAYROLL Self service – access via link on HR website Access – Personnel and Financial information, payslips, P60, pension information and hourly time sheets (Core Portal) Approval of hourly paid – level 2 authoriser ensure correct pay rate used Agresso online access for online interaction for purchase requisition and goods receiving, workflow approvals Use contracted suppliers see Procurement website Procurement thresholds apply Invoices go directly to accounts payable 3 way match PO/GRN/INV Weekly payment run (51 per annum) – Prompt Pay Act Applies Supplier set up – form – need current tax clearance certificate Purchase to Pay

Typical tender Process Strategy Pre-qualification & tender documents Evaluation Award decision Contract execution Contract award notice & tender report Complex area UL based buyers run up between 20 and 30 tenders per annum Large audit emphasis on procurement process

Expenses Process up to 15,000 expense claims per annum Ensure compliance with expenses policy Weekly expense claim payments by EFT Attaching scanned receipts to expense claims now available UL Policy applies Online submission via Agresso. Register as online user Scan receipts and attach to online claim** Use online expenses for professional subscriptions and conferences Equipment & consumables limit of €175 Online approvals via workflows Weekly payments **For externally funded projects original receipts must be submitted

HEA & Consolidated Financial Statements Required under the Universities Act Prescribed format based on income and expenditure – excludes subsidiaries and associated companies Capital expenditure included as expenditure Reported on by PWC annually HEA accounts Consolidated financial statements Incorporate activities of subsidiary and associated companies Prepared based on GAAP Audited by PWC as commercial auditors and C&AG

Research Finance New Staff Induction Programme Research Finance

Research Supports Available Research Community Departments Research Office Finance HR Institutes Library EU Project Management Faculties / ADRs Pre-Award Post-Award 19

Finance Pre-Award Award Post Award Key role at all stages of the lifecycle of a Research Project Pre-Award Award Post Award 20

Pre-Award Award Post Award Budget Funding Call guidelines Budget Justification Research Proposal Authorisation form 21

Pre-Award Award Post Award Cost centre set up Agresso Access Budget Partner Budgets Invoicing schedule for industry funded Reporting frequency 22

Pre-Award Award Post Award Expenditure Reporting Overheads Approve pay – recruitment packs, contract reviews, financial aid Controlling pay commitment – Opportunity to automate PR’s and expenses to available budget & eligibility Reporting Prepare and submit all funding reports Consolidate for larger Centres Overheads Allocation of Research Overheads 23

Pre-Award Award Post Award Audits Ongoing throughout life of project For multiple years after e.g. ERDF 2022 Multiple Agencies Meet with PIs Adherence to UL Policy & Procedures Procurement procedures Publicity 24

Research Awards 25

Research Finance – Contacts Sandra Hammersley Management Reporting, Budget Management, Research budget proposal support, Financial Report approval, Expenditure Approval, Overhead allocation Thomas Vaughan Expenditure Approval, Research budget proposal support, SFI, HEA, PRTLI, EU Norita Moloney Expenditure Approval, Research budget proposal support, (Dervla Hogan) EI, EPA, HRB, IRC Patricia Bourke Expenditure Approval, Student Financial Aid Forms, EU, DAFM Teresa Kiely Audit file preparation, EI & Innovation Vouchers Caroline Meaney New Cost Centre set-up EI, IRC, InterReg TBH Invoicing & Debtors EI & IRC

Thank You