Finance Summer Training July 2016 Welcome! Finance Summer Training July 2016

Agenda/Topics to Be Covered Goals of today’s class Who’s Who Success Upcoming Changes Game – Earn Candy! Tips and tricks Summary

Who’s Who Ashley Sutton – Chief Officer for School Finance Stephen Britt – Assistant Finance Officer Nona Whitman – Office Manager Gloria Ezzell – Payroll Specialist Lisa Williams – Payroll Specialist Jacquetta Smith – A/P & Purchasing Jackie Hanchey – A/P & Purchasing Anita Cavenaugh – Internal Auditor

Success! It was a great year! New software (Linq, My Learning Plan, etc.) Batch accuracy and policy compliance improved significantly Had excellent feedback to make improvements (such as sites & po e-mails) Welcome Cokessie Mclean and Candice Gardner to central office!

Overview of Upcoming Changes Slight shifting of roles in the finance department More strict with deadlines and policies Fixed asset dollar threshold change Sites for keying invoices Accruing invoices to pay DCS Debarred vendor – minor change Direct deposit employee reimbursements and vendor payments E-verify and Iran Divestment Process

Finance Department Jackie and Jacquetta will support each other Stephen will be less involved in A/P

Deadlines and Policies Last minute expenditures were a problem this year. Some programs were overspent in total. Will manage more closely in FY 2017. Batches that are not in compliance will be returned, not corrected in finance.

Fixed Asset - Not capitalized Object codes 461 & 462 Board policy now puts the required inventory range as purchases of items costing $500 or more. Exception (finance)– computer and other IT products are still inventoried if $100 or more. Can still inventory items as low as $100 if you prefer.

Requisition & Invoice Description For fixed asset codes 461, 462, 541, 542, etc., the first word on the invoice description should be the item being purchased.

Site Numbers for Invoices Each person should use their site number when keying invoices to assist with printing checks. See below:

Invoices from DCS to DCS We want to minimize the checks that we write to ourselves. Writing checks is a time consuming and expensive process. Replace checks with journal entries, Buds, and bank drafts. Examples: print shop invoices, bus garage invoices, indirect costs, local salaries, and mailing. When you get an invoice from DCS, code it and give to Nona to key. Will batch and key them all once a week.

Debarred Vendors Finance will continue to research debarred vendors for all requisitions you send. HOWEVER, you are responsible for running debarment checks for invoices are keyed without PO’s. Checks should be run before doing business with the vendor. Send the debarred vendor check with your batch.

E-Verify Form Why? Here is form Not required for employees, game officials, NC’s E-verify law requires that any employer that employs 25 or more employees in NC (regardless the location of the company’s headquarters) use the e-verify system to verify the work authorization in NC. Not required for game officials When the W9 is completed (new vendors). Can no longer set up new vendors without this info.

Iran Divestment Act Why? Here is the form

Travel and Workshop Procedures Lodging – Sharing rooms Meals

Budget & Purchasing Manuals See revised manuals for changes -Format-don’t use day keying should be period of time covered by invoice -If invoice covers multiple days which are not consective must still use same format ex service for March 23 and 30 would be CR_3/23-30_2016. -One check request if check receipt is to long to fit do not fold cut receipt and tape both on page; if not Finance may not see it is folded and miss scanning some info

GAME TIME! Go to https://kahoot.it/

Tips and Tricks Want to open up more than 1 fund management session? Simply double click on the Linq icon again! Set up Report Builder or Budget Analysis reports like you want, then save them to “Load” later. Can do budgets for each of your programs this way and share the report with others.

Keying Batches Don’t tape over info on receipts If invoice/request is multiple pages first page must show vendor/employee name, address, amount to be paid, vendor stamp and pre-audit stamp Invoice numbers must be entered exactly as shown on invoice (include leading zeros) -Format-don’t use day keying should be period of time covered by invoice

Summary Slight shifting of roles in the finance department More strict with deadlines and policies Fixed asset dollar threshold change - $500, with exceptions Sites for keying invoices – Use your site Accruing invoices to pay DCS – Now send to Nona for AJE Send debarred vendor check sheets when paid without PO Direct deposit employee reimbursements and vendor payments E-verify and Iran Divestment Process Policy manual changes

Q&A Questions? Thank you!