© 2008 Brigham Young University–Idaho 1 Controllers Group Meeting November 11, 2010

© 2008 Brigham Young University–Idaho Guest Travel 2 Help with guest travel can be requested from Travel Services online at :

© 2008 Brigham Young University–Idaho Office assistants can be a great help Infrequent travelers forget policy and procedure If office assistant completes travel request Both the traveler and office assistant have access to TA and can facilitate travel arrangements Either can reconcile the TA upon return. With experience the office assistant will understand the best way to complete travel from setup to reconciling and any necessary payments to traveler Department Travel 3

© 2008 Brigham Young University–Idaho Approval must be from someone authorized to the account. Supervisor shows in the travel request window by default If supervisor is not authorized to the account that the travel will be charged to the address must be changed to someone authorized to approve travel for that account. We always send a copy of the request to the supervisor to make sure they are aware of the travel requested by their employees. Travel Authorization Request 4

© 2008 Brigham Young University–Idaho Travel and Purchase Card 5 Travel Card Authorized travel ‐ related expenses (food, hotel, transportation, etc) In place of personal credit card for university travel Employee is responsible to pay in full each month Purchasing Card Every ‐ day business related purchases (supplies, subscriptions, payments, memberships, etc) under $1,000 In place of hand checks, petty cash, POs, release numbers, check requests University will pay Financial Services monitors all activity and balances on these cards

© 2008 Brigham Young University–Idaho Travel authorizations should be reconciled within five days of return. Even if there is no reimbursement of funds needed the reconcilement must be completed and the print out sent to Accounting Services to alert them to close the travel to the account. Travel Reconciling 6

© 2008 Brigham Young University–Idaho Only appropriated accounts (budgeted accounts which begin with one, 1xxx-xx-xxxx), All travel encumbrances will be removed off of the December 31 st financial statement. Travel completed in 2010 will be posted to 2010 budget year travel authorizations need to be reconciled as soon as possible. Travel expenses paid in 2010 on a TA for 2011 travel will post in Must have travel budget funds left from prior year for encumbrances Travel encumbrances to allow funds to be carried forward from 2010: should be related to specific travel needs to be requested from appropriate vice president. Academic area requests should go to Ric Page Travel Encumbrances 7

© 2008 Brigham Young University–Idaho Purchase Orders written after December will be charged to the new year. The deadline for Purchase Requisitions is set and communicated by the Purchasing Department to allow time to place orders and create the Purchase Orders. Year End Purchase Orders 8 Friday December 3, 2010

© 2008 Brigham Young University–Idaho Purchase and Work Order Encumbrances 9 Appropriated Fund: Ordered (timely) before end of year but not received. Encumbered In the Appropriated Fund goods and services ordered before but not received until after December 31 will be encumbered. This means the amount of the Purchase Orders will be charged to the old year and carried as additional budget into the new year to pay for the item(s) when received. Must have budget funds left from prior year for encumbrances

© 2008 Brigham Young University–Idaho 10 Other Funds: Items received/services rendered by Dec. 31st Other Funds: Items received/services rendered after Dec. 31st All Purchase Orders and Work Orders written after December 31 Charged to Old Year Charged to New Year In all other funds, goods and services must be received by December 31 in order to be charged to the old year. All goods and services received after December 31 will be charged to the new year, even if the Purchase Order was written in the old year. Purchase and Work Orders Orders after December 31st

© 2008 Brigham Young University–Idaho Check requests and hand checks need to be turned in the first week of the new year to be charged to old year. Dated December 31 or before Goods or services received by Dec. 31 st Vendor Invoices not on purchase orders should be turned in as soon as possible after year end but must be to the Accounting Office by soft close deadline (Around January 20th) Goods or services must be received on or before Dec. 31st Will not be encumbered, posted to appropriate year Other Yearend Expenses 11

© 2008 Brigham Young University–Idaho The proper use of these financial reports and the general ledger is vital to account stewards in meeting their fiscal stewardship responsibilities. 12 Financial Report Responsibilities

© 2008 Brigham Young University–Idaho Ensure proper expenditures of funds Keeping expenditures within the authorized budgetary limits Care should be taken to charge all expenses and revenues to the appropriate category which identifies the transaction rather than to an unrelated category where it appears that budget money is available. One category can be overspent while another is under spent. It is the bottom line that counts. Generation of expected revenues, if applicable to your area. Compliance with record keeping requirements of the University Financial Report Responsibilities 13

© 2008 Brigham Young University–Idaho The account steward should review financial reports each month. The verification of each transaction in the general ledger may be assigned to another person. They should be communicating any issues with the steward. An electronic record will be kept of each time a report is accessed on the internet and is subject to monitoring by Financial Services and Auditors. If stewards are not reviewing in a timely manner the accounts they are responsible for an will be sent. It will list the accounts that haven’t been reviewed recently. This is also a good way to make sure we are up to date on any account steward changes. Check the accounts listed in the to make sure you should be steward of the account(s). If not reply and we will resolve the issue. Financial Report Review 14

© 2008 Brigham Young University–Idaho Review 15

© 2008 Brigham Young University–Idaho It is much easier to find a problem when you are looking monthly rather than waiting until the end of the year. Also look at bottom line. Begin in December doing a comprehensive review that continues through year end closing in January. We stewards and office assistants as we work through year end processes with reminders to review reports and when the closing will take place. We have a number of calls in February and March asking about issues in the prior year. Even if there is a problem discovered it is too late to do anything about it in the prior year’s records. Yearend Financial Report Review

© 2008 Brigham Young University–Idaho I’m Free! 17