Account Management and New SIRI Dashboard

Overview Understanding the Basics Account Management Dashboard Summary RF Accounts IFR Fees PSR Vacant FTE Reports Budget Status Tab In/Out Revision Summary

Understanding the Basics Sample – SIRI Money Account

Understanding the Basics Sample SIRI Personal Service Regular tab

Understanding the Basics Cash Balance – (IFR accounts) SIRI Money reflects the Beginning Balance of account plus Net Revenues less expenditures. For purposes of the Account Management Dashboard, the underlying principle is to calculate the lowest projected cash balance which is net of encumbrances and also the additional Expected Shortfall for the PSR encumbrance.

Account Management Dashboard Early stages of development – just starting to introduce to test groups and will soon share this with the SIRI Customer group. Designed to provide tools to assist in following best practices when managing your accounts A series of reports that target items that may require action. While we are still fine tuning this dashboard to meet account holders needs we are very excited to be introducing this new tool that we believe will assist in more efficient management of accounts.

Selections Filtering criteria is based on the current University Hierarchy chart as well as Funding Source/Trial Balance. The hierarchy structure be accessible to all under Support Tables dashboard. REMEMBER to select the go button after changing selections Provides the ability to collectively review all of your accounts for potential problems rather than having to pull each account up individually. General layout – action items. Information drillable to a lower level.

Action Items - RF Accounts RF Accounts Available Balance below $100 You will notice that this section has an alert for RF account balances that are less than $100 and the project end date has passed.  This report should be used for general guidance to assist in monitoring negative or small ICR balances.  Those small balances should be spent promptly, as there is the possibility that they may be swept in the future.

Action Items - IFR Fees IFR Fees Needing Update Report displays IFR Fees that have not been created or updated in the last 5 years. Encourage you to review your fees periodically to ensure they are at the correct rate. You would contact Betsy Harmon if you has additional questions regarding fees.

Action Items - PSR Balance Encourage units to properly fund lines both fiscally and annually. PSR Expected Free Balance Over-Under Funded - PSR lines with greater than or less than $100 balance to highlight those lines that may need fiscal allocation adjusted. This calculation considered the PSR expected shortfall Will have the ability to change parameters if interest in seeing only those will PSR Annual Allocation Over-Under Funded – report that identifies lines that are over or under funded annually. Best practice is to properly fund both Annual and Fiscal allocation for PSR lines. The PSR Expected Free Balance report can be toggled to adjust the parameters if you are interested in viewing those over/under funded by a different amount. Illustrate $1,000 make sure enter “less than field as a negative number”. The first report (PSR Expected Free Balance Over-Under Funded) shows adjustments necessary to fund lines appropriately for the current year and the second report (PSR Annual Allocation Over-Under Funded) shows adjustments to fund lines appropriately for the following fiscal year based on current FTE.

Action Items - Vacant Lines Encourage Units to release lines that are not presently used to Financial Services. A Budget Revision should be prepared to release lines not used. Note that CSEA lines on probationary leave should not be released. If a line is not displayed with FTE in your account, it is not available for use. Please contact Financial Services to obtain a line.

Action Tab Reports Percent of Allocation – displays the percentage of funding used to date to assist in identifying accounts that are overspending. The Accounts in the Red tab identifies accounts that already have projected deficits. The tab also include links to various forms to make readily available the tools needed to make changes to your accounts. Both the Percent of Allocation and the Accounts in the Red tab presently display only State accounts. As we continue to build in other reports to this dashboard reports like this will be enhanced to provide views from an all funds perspective. The Accounts in the Red tab calculated the lowest balance projected and includes both current encumbrances as well as the additional PSR encumbrance that would be required to encumber all lines through 6/30.

Budget Status This tab is designed to assist in making certain allocation is properly aligned with spending – Should maintain sufficient Fiscal Allocation in all major objects to support current expenditures. Review Free Balance by Major Object and submit a Budget Revision to align allocation with spending. Consider doing revision for both annual and fiscal if you anticipate that the following year’s spending will be consistent with the current year. Historically Financial Services and units would only be concerned with making sure overall the account maintained a positive free balance. Due to various budget cuts it is becoming increasingly important to make certain your account is properly funded in all major objects (PSR, TS, OTPS). This helps to provide a more accurate picture of how much is available to support each major object category. In addition when SUNY provides the campus with allocation they do so at the major object level so properly aligning your allocation with expenses assists in making certain that we provide SUNY with an accurate budget request and prevents spending problem that result when we don’t have sufficient allocation in any major object. Budget Revisions can be submitted at any time during the year.

In/Out Revisions For units attempting to trace budget revision activity to determine what caused the change in their budget. This report displays revisions that transfer funds into or out of the selected filtered criteria.

Summary Plan to continue to develop reports that will assist in targeting potential problem areas. Help Screens will include information to assist in understanding what is included in each We welcome any initial thoughts on this dashboard and look forward to working together as we continue to add enhancements to SIRI. If you’d like the opportunity to participate in the pilot group, please indicate this on the survey.

Summary Rollout – targeted 1-2 months. Security – Access will be granted automatically to those that presently have access to SIRI Money. Financial Services is very excited about this new dashboard and we hope that you will find it very helpful.