FY14 Year-End Closing Guidance Monday, June 2, 2014 Morningside Campus

Agenda 2 Overview of key closing guidance Budget – Nancy Johnson, VP, Budget & Financial Planning Payroll / HRIS – Barbara Hough, Controller; Jim Lindner, AVP, HRIS Procurement – Joseph Harney, VP, Procurement Services Financial Reporting & Operations – Michael Kerstan, Associate Controller Sponsored Projects Finance – Tamara Hamdan, Executive Director, SPF Q&A

3 Budget Tool

4 Budget Tool Availability Currently able to create $0 budgets for FY14 Open to users to create budgets for FY15 by mid-June; if there’s a critical need to create a $0 budget for FY15 prior to the Budget Tool re-opening, please contact the Office of Management and Budget who will be able to create a $0 budget for FY15 on your behalf FY15 Budget Setup Users can currently view all screens (but not make changes) and perform downloads (direct activity and payroll) to ensure FY15 budgets are setup.

5 Payroll / HRIS

PAC Year-End Guidance 6 Payroll Suspense Friday, July 18 th : Deadline to clear suspense Please use PAC Suspense Report to determine outstanding suspense. Confirm/Review or Enter New FY15 Salary Distribution Profiles New FY15 funding profiles can be entered whenever a budget has been created for the project/department used in the ComboCode. Friday, June 27 th : Begin reviewing/updating employee funding that was rolled over. Monday, July 7 th : Deadline for final approval of all new FY15 funding for bi-weekly payroll. Thursday, July 10 th : Deadline for final approval of all new FY15 funding for semi-monthly payroll. If no new FY15 funding is established, employee earnings will be charged to the funding that was rolled over, or to suspense. Graduate Research Assistant (GRA) Tuition Recovery Process Extra GRA recovery process run planned for June 30 th : GRA recovery related to cost transfers processed by Monday, June 30 th will be processed the evening of June 30 th and available for review in ARC/FDS on Tuesday, July 1 st. Final GRA recovery process run scheduled for July 18th.

PAC Suspense Report 7 Navigation: Sample Output:

PAC Funding Setup Report 8 Sample Output: Navigation:

9 Procurement

Purchase Order Rollover Affirmation (in ARC) 10 Go to the Add/Update POs page in the Purchasing Module Click on the Header Details Link

Purchase Order Rollover Affirmation (in ARC) 11 In the PO Header Details page, go to the “Available for Rollover” field in PO Details section. All purchase orders are defaulted to “No”. To mark the PO for inclusion in the PO Rollover process, change the value to “Yes”. Click OK on the bottom of the page.

Purchase Order Rollover Query (in ARC) 12 Navigate to the Query Viewer page Search for the query CU_PO_ROLLOVER Click on HTML to run the report

Purchase Order Rollover Query: Results 13 The Report will list out POs with open commitments The “Confirmed for Rollover” column indicates whether the PO has been selected for Rollover The “Rollover Error” column indicates whether there is an issue that will prevent the PO from being rolled forward to FY15. (These issues will need to be corrected prior to Rollover.)

Purchase Order Open Commitment Report (in FDS) 14 Fiscal Year = 2014 Accounting Period = 12 Business Unit = select all that apply PC Business Unit = select all that apply Origin = leave blank Department Filter = select campus location Department Rollup = select all that apply Commitment Type = non-SAPO’s only

Purchase Order Rollover: Criteria 15 The following criteria will be used to rollover purchase orders to FY15: Any purchase orders in a Dispatched status with a valid Budget status that has the “Available for Rollover” field set to “Yes” by Friday, June 6 th Any departmentally dispatched purchase orders (against UWPA vendors) in a Dispatched status with a valid Budget status, created after Friday, June 6 th with an open commitment Any requisition submitted to Purchasing by Friday, June 6 th will be sourced to a PO and rolled forward if the purchase order is in a Dispatched status with a valid Budget status and there is any open commitment All POs rolled forward must have a valid FY15 budget set up Certain transactions will automatically be affirmed by Central and included in the rollover process: SAPO’s Multiyear PO’s that extend beyond FY14 PO’s issued after Friday, June 6 th, 2014

Key Dates: Purchasing 16 Purchase Orders must be affirmed for PO Rollover no later than Friday, June 6 th at 5:00 pm Requisitions and Change Orders that require processing by Purchasing must be received by Purchasing no later than Friday, June 6 th at 5:00 pm Access to ePro & Purchasing Modules in ARC will close on Friday, June 27 th at 2:00 pm Remember to put FY15 budgets in place for all transactions to be rolled forward or accrued

Key Dates: Accounts Payable 17 For Non-PO Vouchers to be paid by June 30 th, must have department approval and documents submitted no later than Friday, June 20 th at 5:00 pm Vouchers for travel advance requests needed in July must be submitted by Friday, June 20 th at 5:00 pm Vouchers for travel advance reconciliations that should be reflected in FY14 should be submitted by Monday, June 23 rd at 5:00 pm To have a voucher accrued, it must be entered into ARC by Friday, June 27 th at 2:00 pm and have an invoice date on or before June 30 th, Vouchers must have a valid budget line for FY14 and FY15.

Key Dates: Accounts Payable – cont’d 18 PO Vouchers can be entered in ARC up until Friday, June 27 th at 2:00 pm Must pass Matching and Budget Check Unresolved vouchers will be deleted and need to be re-entered by the department in FY15 Journal Vouchers must be processed and approved in ARC by Friday, June 27 th at 2:00 pm Journal vouchers that require SPF approval must be submitted and have department approval by Wednesday, June 18 th Journal Voucher page is in the AP module, so FY14 access will close on Friday, June 27 th at 2:00 pm All vouchers paid by wire that need to post to FY14 should have department approval and supporting documentation submitted by Monday, June 23 rd at 5:00 pm AP will need time to audit, resolve any Hold Items, and enter Adjustments for any foreign currency conversions

Key Dates: Accounts Payable – cont’d 19 STAPLES Advantage Deliveries will continue uninterrupted Last file feed from STAPLES to ARC for FY14 will be on Wednesday, June 25 th Information on STAPLES orders will not be fed into ARC between Thursday, June 26 th and Monday June 30 th File feeds from STAPLES will resume on Tuesday, July 1 st P-Card close commences on Thursday June 26 th at 12:00 noon Transactions with a post date of June 22 nd or earlier must be approved by close deadline Reconcilers and Approvers are encouraged to verify and approve transactions daily from June 23 rd through June 26 th Transactions that are Staged or Verified with a date between June 23 rd and June 30 th, but not yet approved, will be accrued to the P-Card default ChartString for FY14. Those unapproved transactions should be approved as part of the regular July close.

Procurement – Final Reminders 20 Pay attention to and resolve Hold notifications Avoid Budget Check Errors Resolve Budget Check Errors Allow for time for Vendor Profile Creation All users will be locked out of ARC from Friday, June 27 th at 2:00 pm through Tuesday, July 1 st at 9:00 am

21 Financial Reporting & Operations

Journals Journal Approvals Worklist Journal approval search page

Journals – cont’d Search Results for Journal Approval Search Page

Journals – cont’d Journal line description Use the Journal line description (it is on the far right side of the entry template for those creating journals online) to describe the purpose of the entry If you don’t fill it in, it automatically populates with the account description Length of 30 characters

Journals – cont’d Attach supporting documentation On the header tab, under “Attachments” Attach Excel, Word, and/or PDF documents Allows users such as FR&O, OMB, and auditors to look at supporting documentation without contacting you Certain policies require that documentation be attached to journals (e.g. gift and endowment policy)

Cash Unclaimed cash receipts Contact Cash to Tellers Both Morningside and CUMC Tellers are available to accept cash batches until Monday, June 30 th at 3:00 pm Cash to Office of Alumni and Development Both Morningside and CUMC have deadlines for submission of gifts Morningside – Monday, June 30 th at 12:00 noon CUMC – Wednesday, June 25 th at 12:00 noon Recording expenses flowing though international bank accounts These are processed as journal entries and workflow takes the entries to Accounts Payable and the Controller’s Office for approval The cut-off for these is Friday, July 18 th

Accruals Accrued Expenses There is a system based accrual for vouchers entered into the AP module of ARC by Friday, June 27 th at 2:00 pm provided that: The voucher is on an expense account The ChartString passes budget check There is a system based accrual for Purchase Orders that meet the following criteria: The item being purchased is classified as a ‘good’ The account being charged begins with a ‘6’ The due date is Monday, June 30 th or prior Manual accruals can be sent to FR&O until Friday, July 18 th at 12:00 noon When processing vouchers in July, please send FR&O accruals for those where the expense is incurred in June or prior provided that it is not related to an expensed purchase order

Post Closing Activities Variance Analysis Please remember to submit your variance analysis on time as it is a critical component in describing the activities of the University If you find a problem when writing your analysis, please reach out to FR&O or OMB. The earlier a problem is identified, the earlier a solution can be found Define acronyms, be descriptive, more is better Audit Requests Please reply promptly to audit requests If you have questions about what you should provide, the format of the response, or when your reply is needed, please ask FR&O External auditors arrive on Monday, August 11 th and must finish by Monday, September 15 th

Key Dates: General Ledger Journal Entries Interdepartmental charges should be entered by Thursday, July 3 rd Completion of accruals and cost transfers by Friday, July 18 th Completion of fund balance transfers by Wednesday, July 23 rd Deposits Cash batches to Tellers – Monday, June 30 th at 3:00 pm Gift Transmittals to OAD – Monday, June 30 th at 12:00 noon for Morningside Accruals Requests from Morningside due to FR&O by Friday, July 18 th Endowment New endowment creates should be submitted by Friday, June 13 th Requests for decaps or recaps of endowments are due by Wednesday, June 25 th Variance Analysis Analysis of year end results is due by Friday, August 15 th System Access All users will be locked out of ARC from Friday, June 27 th at 2:00 pm through Tuesday, July 1 st at 9:00 am Journal processors will be locked out of ARC from Wednesday, July 23 rd at 6:00 pm to Sunday, July 27 th at 9:00 am

30 Sponsored Projects Finance

Two key overrun dates Monday, June 16 th Date on which SPF will begin to clear unresolved overruns on projects that have terminated nine months or more prior to June 1 st, 2014 to unrestricted projects belonging to the responsible School/department. Friday, July 11 th Date up to which departments can initiate journals to clear true overruns on projects that fall outside of the terminated > 9 months bucket. Two key transaction dates Wednesday, June 18 th - SPF-reviewed AP Journal Voucher cut-off Date by which AP Journal Vouchers requiring SPF approval [>90 days, debit Sponsored Project] must be submitted and must have all departmental approvals in order to guarantee SPF review before AP cut-off. Friday, July 11 th - SPF-reviewed Journal Entry and Internal Transfer cut-off Date by which GL Journal Entries and GL Internal Transfers which impact a sponsored project must be submitted and must have all departmental approvals in order to guarantee SPF review before Journal Entry cut-off.

32 Wrap-Up / Questions

FY14 Year-End Closing Guidance Closing guidance memo and calendar can be found on the Finance Gateway at This presentation will also be available on the website. Weekly s re: upcoming deadlines and related information Questions after today’s session? Specific contacts for each area listed in the closing guidance memo Contact the Finance Service Center (212) Monday, Tuesday, Thursday: 9:00 am – 5:00 pm Wednesday: 9:30 am – 5:00 pm Friday: 9:00 am – 4:00 pm