1. Managing Cash Style Accounts Managing Cash-style Accounts Budgeting, Tracking and Reporting Jennifer Paine – Business Manager, Senior SBS Business Center - Marshall College of Social & Behavioral Sciences

2. SBS Business Center - Marshall Departments Arizona Center for Judaic Studies Center for Middle Eastern Studies School of Journalism School of Middle Eastern & North African Studies Managing Cash Style Accounts

3. What is a cash style account? Any account that is not budgeted Many designated funds summer session course fees sales and services unrestricted IDC etc. Gift accounts Managing Cash Style Accounts

4. What do I mean by managing cash style accounts? Turning a cash-style account into a budgeted account by loading “budget” into sub-accounts to make it possible to see available balance in UAccess Financials and Analytics Loading “budget” = transferring available funds into sub-accounts Managing Cash Style Accounts

5. Advantages to this method Easy to set up and use Only requires beginner to intermediate Analytics skills Maintenance and most work in Financials Balances hard coded in UAccess systems Can see available balances for budget lines in both Financials and Analytics

6. Why Budget? Limited income stream Identify inefficiencies Improve financial planning or forecasting

7. Why use sub-accounts for tracking? Units can determine what to track based upon their own unique activities Distinguish between everyday operational expenses versus expenses for special projects (printing or postage) Makes tracking commitments easier Managing Cash Style Accounts

8. How does it help with reporting? Existing Analytics reports support sub-accounts easily integrated into Financial Reporting Code schema Easy to determine available balance in budget lines Answer questions about spending more quickly Keeps you on track with budget plans for an account Managing Cash Style Accounts

9. How to set up your budget Determine budget by the beginning of the fiscal year

10. Setting up budget lines Each budget line is one sub-account Managing Cash Style Accounts

11. Sub- account number and name should be useful but not too specific For example using PTEST Proficiency Testing might be better than ARBT Arabic Proficiency Testing. Managing Cash Style Accounts

12. Sub-account names can change. Sub-account numbers can’t. Managing Cash Style Accounts

13. Considerations when planning budget Are you fully budgeting all funds in account? Will you roll over remaining balance from previous fiscal year? Will there be any income during current fiscal year? Are there any outstanding commitments on this account? Do you need to reserve funds for future year's commitments? Managing Cash Style Accounts

14. Two ways “budget” is loaded in account and sub-accounts 1. Are the funds from another account or outside unit? a. To: 0930 – Voluntary Transfer In 2. Are you moving funds around inside one account? a. From:7939 – Transfer Out/Allocations b. To:0939 – Transfer In/Allocations Managing Cash Style Accounts

15. Possible scenarios when loading budget 1. Load amount in budget plan a. There was no budget for previous years. There were no sub-accounts. b. While there were a budget and sub-accounts, carryforward remaining positive or negative balance. Managing Cash Style Accounts

16. Possible scenarios when loading budget (cont.) 2. Only load amount so that beginning balance matches this year’s budget a. Use sub-accounts for only for tracking expenses. No budget allocations previous years. b. Budget and sub-accounts in previous years, but no plan to carryforward of previous year’s balances. Current year’s available balances should equal budget plan. Managing Cash Style Accounts

17. Scenario 1: Load amount in budget plan 1. Determine budget. 2. If needed, create sub-accounts based on budget items. 3. Load budget into sub-accounts using Transfer of Funds (TF) document in Financials. (If moving money around in same account, use object codes for department allocations.) From: 7930 OR 7939 To: 0930 OR 0939 Managing Cash Style Accounts

18. Loading budget

19. Pay attention to sub-accounts for personnel

20. Scenario 2: Load only amount needed so that available balance matches this year’s budget If re-purposing sub-accounts only used before to track expenses, need to clear the deficits in those sub-accounts If want the available balance to be amount in budget plan Managing Cash Style Accounts

21. Step 1: Set budget for new fiscal year 1. Easiest if download current account balance report to excel spreadsheet 2. Delete all columns except beginning fund balance 3. Add column for beginning balance target amount 4. Determine whether need to add or subtract budget amount from beginning year balances in order to end with correct remaining fund balance 5. Once amount to get to desired balance has been calculated, load budget Managing Cash Style Accounts

22. Step 2: Download current account balances for July of appropriate fiscal year

23. Excluding unhelpful columns

24. Current account balances dashboard Managing Cash Style Accounts x x

25. Budget plan (with target amounts) Managing Cash Style Accounts

26. From beginning fund balance to target balance Managing Cash Style Accounts

27. Determine whether to add or subtract Managing Cash Style Accounts

28. Transfer of funds

29. Those pesky manual feed transactions Several kinds of transactions that can’t be coded with sub-accounts before hit your account GEC transactions with no coding to appropriate sub- account Set up agent to regularly send transactions without sub-account to you When reconciling account do GECs Managing Cash Style Accounts

30. UAccess Financials

31. Cash Balance Lookup in UAccess Financials

32. Reporting made easy UAccess Analytics

33. Payroll expenses report Managing Cash Style Accounts Bob Dobbs

34. Operational expenses report Managing Cash Style Accounts

35. Tips and Tricks If using sub-accounts and loading budget to make reporting easier, it’s best to budget and use sub-accounts for all expenses. Set up agent to send report of transactions on account with no sub-account, so you can GEC manual feeds or expenses that don't normally allow for coding sub-accounts to add sub-account. For personnel expenses, ERE automatically codes to sub-account. Remember to include ERE amount as well as salary in budget calculations. Managing Cash Style Accounts

36. Tips and Tricks (cont.) Can load budget at any time during fiscal year. Don't need to rush into it. Recommend waiting until previous fiscal year closes. Each year is a brand new year. Previous year's ending balance = Current year's beginning balance Managing Cash Style Accounts

37. Tips and Tricks (cont.) When trying to determine beginning balance for your calculations, just look at beginning fund balance. Especially if loading budget after July. Don’t look at current balance for sub-accounts. Use departmental allocation object codes for transfers 0939 and 7939 (not 0930 and 7930). These object codes are not included in calculations for revenue. Managing Cash Style Accounts

38. Questions?