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Finance Summer Training July 2016

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Presentation on theme: "Finance Summer Training July 2016"— Presentation transcript:

1 Finance Summer Training July 2016
Welcome! Finance Summer Training July 2016

2 Agenda/Topics to Be Covered
Goals of today’s class Who’s Who Success Upcoming Changes Game – Earn Candy! Tips and tricks Aesop Summary

3 Who’s Who - Finance Ashley Sutton – Chief Officer for School Finance
Stephen Britt – Assistant Finance Officer Nona Whitman – Office Manager Gloria Ezzell – Payroll Specialist Lisa Williams – Payroll Specialist Jacquetta Smith – A/P & Purchasing Jackie Hanchey – A/P & Purchasing Anita Cavenaugh – Internal Auditor

4 Who’s Who - Schools Name, how long you have been with DCS, and something about you (hobbies, children, etc.)

5 Success! It was a great year!
New software (Linq, My Learning Plan, etc.) The audit went very well Improvement’s across the board (mileage example) Welcome new treasurers

6 Overview of Upcoming Changes
Slight shifting of roles in the finance department More strict with deadlines and policies Fixed asset dollar threshold change Site for Title 1 requisitions Invoices from DCS Direct deposit employee reimbursements and vendor payments E-verify and Iran Divestment Process Aesop

7 Finance Department Jackie and Jacquetta will support each other
Stephen will be less involved in A/P

8 Deadlines and Policies
Last minute expenditures were a problem this year. Some programs were overspent in total. Will manage more closely in FY 2017. Requisitions for 061 & 805 will not be approved if GL code in red

9 Fixed Asset - Not capitalized
Object codes 461 & 462 Board policy now puts the required inventory range as purchases of items costing $500 or more. Exception (finance)– computer and other IT products are still inventoried if $100 or more. Can still inventory items as low as $100 if you prefer.

10 Requisition & Invoice Description
For fixed asset codes 461, 462, 541, 542, etc., the first word on the invoice description should be the item being purchased.

11 Title 1 (PRC 050) The site number for PRC 050 requisitions - Use 101

12 Invoices from DCS to DCS
We want to minimize the checks that we write to ourselves. Writing checks is a time consuming and expensive process. Replace checks with journal entries, Buds, and bank drafts. Examples: print shop invoices, bus garage invoices, local salaries, and mailing. Will draft approx 1 week after invoice, will send you an

13 E-Verify Form Why? Here is form
Not required for employees, game officials, NC’s E-verify law requires that any employer that employs 25 or more employees in NC (regardless the location of the company’s headquarters) use the e-verify system to verify the work authorization in NC. Not required for game officials When the W9 is completed (new vendors). Can no longer set up new vendors without this info.

14 Iran Divestment Act Why? Here is the form

15 Travel and Workshop Procedures
Lodging – Sharing rooms Meals

16 Budget & Purchasing Manuals
Manuals with highlighted changes to be ed

17 SFO Questions, comments, suggestions about SFO?
Send Anita a list of accounts you no longer use to make inactive One Treasurer has started contacting employees and vendors who have Outstanding Checks after 60 days old.  This is working well.

18 GAME TIME! Go to

19 Tips and Tricks Want to open up more than 1 fund management session? Simply double click on the Linq icon again!

20 Tips and Tricks Set up Budget Analysis and Report Builder reports:

21 Tips and Tricks DCS Time & Timekeeper

22 Tips and Tricks Soon to come: direct deposit employee reimbursements

23 Aesop http://www.aesoponline.com Log in is your e-mail
Pin is 1010 – please change it

24 Summary Slight shifting of roles in the finance department
More strict with deadlines and policies Fixed asset dollar threshold change - $500, with exceptions Use site 101 for Title 1 Will draft account for bus and local salary DCS invoices Direct deposit employee reimbursements and vendor payments E-verify and Iran Divestment Process Policy manual changes Aesop!

25 Q&A Questions? Thank you!


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