Financial Rep Meeting July 13, 2011

OMNI EXPENSE ACCOUNT CODE CHANGES JUDD ENFINGER

The Project Improve financial reporting at the University level ◦ Simplify, clarify and better organize account names/descriptions a ◦ Provide additional guidance on the proper use of accounts ◦ Promote consistency in recording similar types of purchases to facilitate more effective trend analysis Ensure accurate coding of all types of purchases: ◦ Encumbered ◦ Unencumbered ◦ P-Card Create a comprehensive data dictionary of all OMNI expense accounts OMNI Expense Account Code Changes3

The Analysis Analyzed account activity for the last three years: ◦ Amount spent ◦ Number of transactions ◦ Types of transactions  Vouchers – looked at source docs to determine what was purchased  IDRs  Online journals ◦ Identified like accounts, e.g.:  – Computer Misc Equip < 1000  – Information Technology Supply  – Computer Equip < 1000  – Computer Periph Equip < 1000 ◦ Identified “primary” account based on historic activity, when there were several similar ones 4OMNI Expense Account Code Changes

The Analysis (cont.) Reviewed Purchasing Category activity for the last three years: ◦ Amount spent ◦ Types of purchases ◦ Primary vendors ◦ Account mapping OMNI Expense Account Code Changes5

The Outcome – Expense Account Data Dictionary Includes: ◦ All non-Salary/OPS Expense Account Codes ◦ Old & new OMNI Account Names (changes highlighted in blue) ◦ Account Use Description ◦ Short List Flag indicating whether each account appears on the Expense Account Short List Available on Controller’s website ◦ ◦ PDF and Excel versions available OMNI Expense Account Code Changes6

The Outcome – Expense Account Data Dictionary Clarified Names/Usage for Existing Accounts ◦ Account Use Description specifies exactly what should and should not be booked to each account ◦ Eliminated abbreviations wherever possible  Still had to abbreviate some because of the 30 character limitation in OMNI ◦ Property & equipment names no longer include threshold amount  Instead called either “Capital” or “Expendable”  Promotes consistency when looking at historical data  $5,000 threshold referred to in Account Use Description ◦ Did not change “non-primary” account names OMNI Expense Account Code Changes7

The Outcome – Expense Account Data Dictionary Consistently named similar accounts ◦ E.g., all equipment-related accounts begin with ‘Equip’; all professional services accounts (advertising, engineering, medical, etc.) begin with ‘Prof Svcs’ ◦ Sorting by account name will group like accounts Other notes on the Account Use Description ◦ Loaded in OMNI in Long Descr field ◦ See FSU_DPT_CODES_ACCOUNT query ◦ Description for non-primary accounts – “Recommended Alternative Account-”  Does not mean that non-primary accounts can never be used  Merely a recommendation to promote consistency across University ◦ Description for accounts that are no longer to be used but had been in the past – “DO NOT USE” ◦ Accounts only to be used by central offices or certain departments begin with “Controller’s Office (e.g.) Use Only-” OMNI Expense Account Code Changes8

The Outcome – Expense Account Data Dictionary Several new accounts added for one or more of the following reasons: ◦ A need to track a particular item/service  Due to a high level of these types of purchases or  Because of risk factors (e.g. purchases of controlled substances/drugs – acct ) ◦ An item/service did not fit into any of the existing accounts (e.g Fees & Permits) ◦ To discourage the use of account Oth Current Chrgs&Obligations  There should be no reason to use this account going forward  If a department cannot identify an appropriate specific expense account for a purchase they should contact the Controller’s Office New accounts have “N/A” in the Old OMNI Acct Descr” column Several accounts that had never been used at all were inactivated to pare down the list and to prevent future mis- postings to them OMNI Expense Account Code Changes9

The Outcome – Expense Account Short List A more concise list that includes the most widely used accounts and same information as Data Dictionary for those accounts For use by departments when coding unencumbered and P-Card purchases ◦ However, not all accounts on this list are allowable for P-Card purchases; see the Disallowable Purchases list for more information Departments should rarely have to use any account not in this list Available on Controller’s website ◦ ◦ PDF and Excel versions available OMNI Expense Account Code Changes10

The Outcome – Purchasing Category Mapping Changes Realignment of Purchasing Categories to OMNI Expense Accounts All Categories should now map to a “primary” expense account Almost all Categories map to accounts on Short List Detailed crosswalk available via the query - FSU_DPT_CODES_CATEGORY_BY_ACCT OMNI Expense Account Code Changes11

Contact Judd Enfinger – Assistant Controller, Quality Assurance ◦ ◦ OMNI Expense Account Code Changes12