Automated Statement of Accounts Project and Operational Guideline March 2011

Current Statement of Accounts (SOA) Report  UTSA Uses DEFINE System for Current Printing of Paper SOA Paper copies printed overnight Manually sorted by Accounting Services by mail code Mailed using university mail system Sorted again depending on reconciler 2

Automated/ ed SOA Report Process  Electronic Reports Produced by COGNOS Reporting Tool  Three (3) Reports for Each Unit Code Summary Report Detail Report Reconciliation Report  Report Formats: Excel - providing opportunity for resorting and analysis PDF – preformatted and print ready 3

Automated/ ed SOA Report Process  ed After Month End Close around the 7 th business day Unit Administrators Delegated Reconcilers  Includes All Active Budget Groups Even if No Activity for that Month  Includes Reconciliation Worksheet and Certification One (1) Certification Per Unit Code If you use another tool (such as Quicken ®) for reconciliation, print worksheet and attach. You are not required to copy data from Reconciliation Report to worksheet. 4

Implementation Plans  “Go Live” Planned for Feb SOA on March 10, 2011  Paper Reports Will Continue to be Distributed for the Next 2 SOA Cycles (February and March) 5

Benefits  Decrease Cost to Produce and Distribute  Environmentally Friendly  More Timely Delivery  Electronic Format  Reduce Redundancy  Account Maintenance 6

How Can You Help?  Identify Delegated Reconcilers of Accounts Unit Code Names  To Add or Change a Reconciler, Use Section IV of the DEFINE Departmental User Access Form Located at the Financial Affairs Website/Forms and Worksheets 7

Statement of Accounts (SOA) Reconciliation Process Operational Guideline 8

Purpose & Scope/Authority  Purpose and Scope To assist Account Administrators and Reconcilers with the reconciliation of the monthly SOA.  Authority UT System Policy – UTS 142.1, which requires monthly reconciliation of SOA reports  Effective Date May 4,

SOA Reports  The Detail, Summary and Reconciliation Reports are the official listing of all transactions that have been posted to the DEFINE accounts for a unit code. 10

 Report Descriptions Summary Report Detail Report Reconciliation Report Sample pages of reports  Financial Information and Examples Descriptions and examples are provided for the elements of both the Summary and Detail Reports, as well as detailed information on more complicated concepts such as encumbrances and pooling of budgets.  Reconciliation Instructions The guideline also provides detailed reconciliation instructions and links to other resources for assistance with reconciliation.  Reconciliation Checklist SOA Report Content 11

SOA Summary Report  Unit and Administrator Information Unit Code Unit Title Unit Administrator  Report Columns Balance Forward Transfers and Adjustments Original Budget Adjusted Budget Income Expense Encumbrance / Investments Balance Available Prior Month Balance Available Current Month Activity (this should match the current month activity on the Detail Report) 12

SOA Detail Report  Report Columns Budget Group Sub Account Sub Account Title Object Class Code - OCC OCC Title Date Description Document ID PO Number Permanent –Temporary Transfer/DTN Balance Forward Transfers and Adjustments Original Budget Income Expense Encumbrance / Investments Current Month Activity Total  This Report Matches the Current Month Activity as Reported on the Summary Report  Unit and Administrator Information Unit Code, Unit Title, Unit Administrator 13

SOA Reconciliation Report  Report Rows Original Budget Transfers and Adjustments Balance Forward Adjusted Budget Income Expenses Encumbrances/Investments Detail of Income and Total Income Detail of Expenses and Total Expenses Detail of Encumbrances / Investments and Total Encumbrances / Investments Balance Available – as of end of current month closed  Unit and Administrator Information Unit Code, Unit Title  Date Information Fiscal Year, Accounting Period 14

SOA Reconciliation Worksheet and Instructions  Provided as an Optional Tool for Documenting the Reconciling Items  Departments May Use Other Tools (such as Quicken  ) But Must Have a Formal Reconciliation Process in Place.  Provides a Section for inputting Departmental Reconciling Items 15

 The Balance Available is Adjusted to Account for the Reconciling Items, Therefore Provides a Balance Available per Department  Instructions are Provided in: SOA Guideline Accounting Website  Instructions Open SOA Reconciliation Report Open SOA Reconciliation Worksheet Click “Insert” Button Reconcile Sign Certification SOA Reconciliation Worksheet and Instructions 16

 SOA Reconciliation Process is a Control Activity to Compare Departmental Records to the Official Accounting Record.  Monthly Reconciliation Helps to: Identify errors and inconsistencies in financial records Determine availability of funds Identify internal control deficiencies  Because of the Importance of the Reconciliation in Effective Internal Control, Account Administrators are Required to Sub- Certify Annually that all SOAs for the Year Have Been Reconciled.  SOA Reconciliations are factors in Quality Assurance Reviews (QAR). Reconciliation Process 17

 The Account Administrator is charged with: Stewardship of UTSA’s assets including preventing overspending of departmental budgets, Ensuring that accounts are reviewed and accurate accounting records are maintained, Ensuring that each SOA is reconciled by a qualified employee, and that all of the Reconciler’s duties are completed and Reviewing the reconciliation and signing the SOA Reconciliation Worksheet certification. Your signature indicates approval of all activity and agreement that all financial transactions are included and appropriate Responsibilities 18

 The Reconciler is Responsible for: Keeping track of all transactions and related documents during the month, Completing the reconciliation of all SOAs compared to departmental records, Promptly notifying the appropriate department of any errors or omissions and coordinating corrections to UTSA records, Corrections to accounting records can be sent to Signing the SOA Reconciliation Worksheet and obtaining the signature of the Administrator and Retaining the SOA reports, signed Reconciliation Worksheet, supporting documentation and other related records for the current fiscal year + three (a total of four years). Responsibilities 19

 The Administrator and Reconciler Must Sign the Certification on the Reconciliation Worksheet. Your signature Certifies that: The salary, wages, expenditures and other transactions as detailed in the SOA report are accurate, allowable and appropriate, All posted revenue has been reconciled to cash deposit receipts and the amounts appear to be reasonable and properly recorded, Any detected errors have been corrected or correction has been requested and is pending and The signers are aware of the requirement to report suspected fraud to their supervisor, Auditing and Consulting Services, University Police or the UTSA Hotline. Certification 20

 Documents to Retain: Summary SOA Report Detail SOA Report Signed SOA Reconciliation Worksheet Supporting Documentation Document Retention 21

Additional Resources  Management Reporting and Administrative Systems at for assistance with any of the The SOA (if you don’t receive SOA that includes all of your accounts). Opening the SOA attachments; Downloading the SOA Reconciliation Worksheet; Running the macro to copy information from the SOA Reconciliation Report into the worksheet; Other technical issues. 22

Additional Resources  Accounting Services at for assistance with any of the following: Accounting corrections; Recording reconciling items; Accounting terms and definitions; and Other matters related to financial information 23

Additional Resources  Training Class - Understanding the Statement of Accounts (AM506)  UTSA Accounting Services Website, / / 24

Questions 25