New Staff Induction Programme - Finance Research Finance 17th February 2015

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

Strategic Plan Objective 4 Enabling Themes People Resources Quality Communication Resources – The Fundamentals Ensure balanced budget outturns and payroll costs that are below 70% of total expenditure Balanced outturn 2013/14 Pay = 69.6% of expenditure in 2014/15 budget Include strong governance practices Internal audit, code of governance, policies and procedures Comply rigorously with regulatory requirements University Act And embed risk management in all our activities Corporate risk register approved

Resources - Strategic Plan Objectives The Implementation of the Resources Enabling Theme Strengthen Alignment between resource allocation and strategic priorities Specify a revised annual budget process to improve completeness and transparency Address how to diversify our sources of income to maximise non-state revenue

Link Resource Allocation to Strategic Priorities Strategic Plan Goal 1 Student Experience Goal 2 Research Goal 3 International Focus Goal 4 Contribution to Economic, Educational, Social & Cultural life

Link Resource Allocation to Strategic Priorities RAM - Resource Allocation Model Goal 1 Student Experience RAM Teaching Allocation Goal 2 Research RAM Research Allocation Goal 3 International Focus RAM International Student Allocation Goal 4 Contribution to Economic, Educational, Social & Cultural life No RAM allocation at present

Recruitment Planning/Pay Budget Revised Annual Budget Process Recruitment Planning/Pay Budget State Grant RAM Devolved Budget Student Intake Income Forecast Other Income Non Pay Budget 8

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

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

New Staff Induction Programme 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 18

Research Finance Cost Centre Management Funding opportunity Award Budget Funding Call guidelines Research Proposal Authorisation form Award Cost centre set up Authorised access Hierarchy Pension Cost Centre Management Expenditure:- Approve pay, PO’s and expenses to available budget Reporting:- Monthly report to cost centre owner, HOD and Dean’s Financial reports Audits

Research Finance PRE-AWARD:- FUNDING PROPOSAL Funding opportunity PRE-AWARD:- FUNDING PROPOSAL Assist in budget preparation, review and approve all funding proposals Early input improves award outcomes Budget guidelines for individual calls Eligible and ineligible costs Budget justification should be consistent with budget numbers Salary scale information on website Research Proposal Authorisation Form

Research Finance Award POST AWARD: BUDGET MANAGEMENT Cost centre for each project and multiple cost centres e.g. Competence Centre Responsibility of cost centre manager Agresso has budget and remaining budget available information On going throughout term of project and management within budget is the responsibility of PI Pay and non pay expenditure & commitments – review ongoing Budget reallocation required? Budget reallocation submission requires Finance sign-off Monitor/approve pay commitments – Recruitment forms, Contract Renewals, Student Financial Aid forms Invoicing Schedule for Industry Funded Research Monthly reports to budget holder Award

Cost Centre Management Research Finance POST AWARD:- REPORTING & AUDITS Prepare and submit all funding reports Time frames for submission of reports vary between agencies Ensure only eligible expenditure claimed Supporting documentation required for all expenditure Time sheets and time declarations required for all projects, please ensure at the end of the project that you get these from all team members and retain Cost Centre Management

Cost Centre Management Research Finance POST AWARD:- REPORTING & AUDITS Note publicity requirements:- funding agency acknowledged and logos incorporated Adherence to UL Policy & Procedures – Travel & Subsistence Adherence to Procurement procedures must be evidenced e.g. retain copies of quotes, tenders (Procurement Training) Auditors will generally wish to meet PI’s to discuss project Cost Centre Management

Research Finance – Key Contacts Research Accounts Office Sandra Hammersley Management Reporting, Budget Management, Proposal Support, Report approval, Expenditure Approval, Overhead allocation Thomas Vaughan Expenditure Approval, Proposal Support, SFI, HEA, PRTLI, EU Patricia Bourke EU, DAFM, Student Financial Aid Forms Shay McAuliffe (Sinead O’Leary ML) New Cost Centre set-up, EI, IRC, HRB Eimear Bulfin EI & Innovation Vouchers, Invoicing & Debtors Patrick Greaney EI & Innovation Vouchers, audit file preparation

Thank You