1. Corporate Finance (Research) Information Session 21 October 2009

2. Agenda 1.Introduction – Danny Sun 2.Opening – Jill Trewhella 3.HERDC 2010 & New Accounts – Tabitha Daines 4.RIMS Data & PeopleSoft Data - Kate Taylor 5.ARC & NHMRC - Carl Nygryn 6.DVCR Funding Update - Sandra Arnaout 7.Research Office Update - Warwick Dawson 8.Q & A

3. Deputy Vice-Chancellor Professor Jill Trewhella

7. HERDC 2010 and New Account Initiatives

8. HERDC 2010 HERDC return Preparing for the year end Checklist 2010 collection process Investment Income Changes to guidelines

9. Preparing for Year End CFR working with BBI to bring you access to the Hyperion HERDC return report. –You can run this to manage your accounts on a monthly or quarterly basis –Gives you the data instantly that you need to correct miss coding and minimise your work in the new year

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11. CFR Initiative *****The HERDC checklist ***** A sound base for a clean HERDC report Simple steps to ensuring the ledger is correct prior to the close Results - less additions, chasing of paperwork and a more accurate, automated report

12. ActivityReportIf Action Required Check Research Income is it in the right place for reporting? Verify income classed as "Research income" - see YELLOW areaHERDC report Review all rows with expected income and account for differences. Has the income been received? If not, is this correct?HERDC report Check ARC/NHMRC expected shared grant income not received (Usyd non-lead) (A6,N5 a/cs) HERDC reportInvoice Lead Institution Check ARC Industry Partners income not received (R a/cs) HERDC reportInvoice partner Check that there is no non-ARC income in ARC accounts Identify corrections in comments column of HERDC reportSend to CFR for correction Journal Checked that no non-NHMRC income in NHMRC accounts Identify corrections in comments column of HERDC reportSend to CFR for correction Journal Recycaling of accounts - Getting our categories right: Highlight cases when research income has been deposited in incorrect accounts, but is still research income (or is not research income) i.e. funds are not from the named funding body Identify corrections in comments column of HERDC reportSend to CFR for advice Check deductions to Research Income Investigate debits to income, are they credit notes or journals? Run SUGLQ104 for all research class codes, and sort by source, look for research income with debits. Identify corrections in comments column of HERDC reportProcess Journal to correct Check 6712/6713 transactions are classed correctly. For 6713 transactions, does a multi- institutional agreement exist with an Australian HEP? If an MIA does not exist, the transaction should be adjusted Process Journal to correct Can I find more Research Income in 11111 and 00000 accounts? Review HERDC guidelines for all research activities that can be included that are not obvious and identify relevant class codes for ledger checks. income received in 2008 in respect of the year 2009 and was not counted in 2008SUGL104 and Contract/paperworkContact CFR provision of professional, technical, administrative or clerical support and/or assistance to staff directly engaged in researchSUGL104 and Contract/paperworkContact CFR management of staff who are either directly engaged in research or are providing professional, technical or clerical support or assistance to those staffSUGL104 and Contract/paperworkContact CFR funds provided for the purpose of clinical trials provided the purpose of the trial meets the definition of research (see section 1.3.9) - NOTE: DECLARATION REQUIREDSUGL104 and Contract/paperworkComplete Clinical Trials Declaration stipends and scholarships for higher degree research students, unless explicitly excluded in section 7.3 of part ASUGL104 and Contract/paperworkContact CFR travel grants where funds are provided specifically for the purpose of travel and used to enable access to a programme of research SUGL104 and Contract/paperworkContact CFR research infrastructure grants unless explicitly excluded in section 7.3 (such as ARC Networks, LIEF, NCRIS) SUGL104 and Contract/paperworkContact CFR income from overseas HEPs provided specifically for research purposes SUGL104 and Contract/paperworkContact CFR research and experimental development into applications software, new programming languages and new operating systems (such R&D would normally meet the definition of research) SUGL104 and Contract/paperworkContact CFR Look at possible income areas in HERDC report to identify income that may be counted: Investigate non-research classes used in research projectsHERDC report Investigate any research classes used in non-research projects.HERDC report Check externally funded Chair positions for a research componentHERDC report Provide evidence for all donations in D1 projects where there is no expected income.HERDC report Check 2400 - Is it in part or all for research?HERDC report Check non D1 accounts, particularly when 2401 usedHERDC report Check C* - look at the intent, not the form - can be included if meets research definitionHERDC report Check non B3 Bequest accounts.HERDC report Check G projects for projects with a research componentHERDC report 12

13. Have shared grants been invoiced for (A6 & N5)? If not this needs to be done as soon as possible using class 2119 Non research Donation/Bequest income in research Donation/Bequest project code and vice versa (D1, B3) Things to look for

14. Non research class in research account and vice versa Keep copies of all invoices to do with research grants as we are often asked to provide them to the auditor Things to look for (Cont’)

15. The Hyperion report and the Checklist will Minimise your workload in 2010

16. 2010 Collection Process Run the final 2009 income report in Hyperion Drill down by RC/Area using the Hierarchy function Timetable & Expectations from 2009 into 2010 Checklist to work through and for sign off in the actual return due 2010

17. Bequests, Donations and CPT’s CFR will take care of ALL investment income (interest earned on philanthropic accounts) Please only check your NEW philanthropic income received in 2009 Documentation will be required for any unexpected philanthropic income

18. Changes to the Guidelines 2010 HERDC specifications are expected to have some changes that may affect your areas income CFR will keep you up to date as and when we receive INFO

19. New Account Initiatives Non RIMS New account requests NEW Project codes Process for donations and bequests Invoicing Project closures Research Finance Reporting Update

20. New Account Initiatives (Cont’) Working on process improvements to assist finance staff with management of projects though their lifecycle –Non RIMS New account requests Working with ICT and Advancement Services to standardise process –Developing clear guidelines as to what is required as substantiation etc

21. New Account Initiatives (cont’) NEW Project code range created to ensure maximum reportable income capture Codes starting to be utilised now in some areas Full implementation by end of year

22. New Account Initiatives (cont’) New project codes for Mixed Funding: RM123 – Research component Paired with GM123 – General (non-research) Easily recognisable as part of a pair to improve reporting, acquittals etc

23. S plit Philanthropic funds D2XXX In response to HERDC, we identified the need to split Philanthropic funds NOW we can process your claims for split funding donations Ensures the accurate split at the inception of the code

24. Opening new D1/D2/B3 accounts Complete the PeopleSoft ChartField form (under review) Documentation that substantiates the funds are solely or in part for research Documentation MUST be from the donor/benefactor Email: CorpFinance.research@usyd.edu.auCorpFinance.research@usyd.edu.au

25. Invoicing for Research Funding Working with Revenue Services CFR to review data prior to actual invoice creation in PeopleSoft Safety net for miss allocations Improves faculties reporting Time saving for HERDC –Both Faculties & CFR

26. Invoicing for Research Funding People Soft Invoice Data CFR reviews Data Integrity Invoice Generated Improved Reporting

27. Project Closures New process - Clear, concise instruction Two simultaneous projects: RO – RIMS Record closures CFR – PeopleSoft Account clearing and closure New report to assist Hyperion 110/112 – Testing commenced

28. Project Closures Two simultaneous projects: RO – RIMS Record closures CFR – PeopleSoft Account clearing and closure New report to assist Hyperion 110/112 – Testing commenced

29. Research Finance Reporting Update NEW HERDC reports, including pivots combining RIMS and PeopleSoft data for the first time RIMS Financial data report Testing commenced

30. CFR are here to help Assistance with questions regarding your returned data Help on correct re-coding General advice as you work through the HERDC report and checklist

31. Visits to your area Hands on assistance and guidance For Appointment Email CFR CorpFinance.research@usyd.edu.au CorpFinance.research@usyd.edu.au Area groups Individual assistance

32. RIMS data & PeopleSoft data Differences explained (dates/expected income) –PeopleSoft and RIMS data will not be the same – This is not an error –RIMS financial and dates data is indicative –PeopleSoft data is adjusted to the actual award and date as reported in acquittals

38. ARC/NHMRC Managing expenditure in ARC & NHMRC accounts Reporting excess carry forwards Salary supplementation for fellows & ARC expected balance Process for relinquished or transferred grants ARC relocation claims NHMRC equipment grants

39. Managing expenditure To minimise excess carry forwards Carry forwards ARC > 75%, NHMRC >25% Steps to ensure carry-forward amounts are reduced –Paying invoices –Review 11111 and 00000 Accounts in deficit –Meal & entertainment + motor vehicle costs (not allowed) –Other unexpected costs

40. Reporting excess carry forwards Where carry forward cannot be reduced –Explanation in line with ARC reason code and progress report –Excess C/F report – end of October –Updated contact list

41. Fellows Salary Supp & ARC/NHMRC expected balance Bridging the gap between granting body funds & fellows’ salaries Balance expected = Matching Duration Deficit balance to be covered by the Faculty DVC(R) salary supp to be allocated at the end of February & October Fellow salary > Granting body funds + DVC(R) sal supp  excess to be covered by the Faculty

42. Process for relinquished & transferred Process is the same in both cases Grants with a fellowship need to be checked by Corporate Finance before submission to the ARC All other grants to the Research Office Calculating the transfer/recovery amount

43. Visualising the time series 1/1/0731/12/07 1/1/08 31/12/08 1/7/07 30/6/08 1/7/08 30/6/09 Legend Transfer date 15/11/08 Calendar year Project anniversary year Transfer date Unused portion of funding to be returned

44. ARC Transfer Form

45. ARC relocation claims Claim must be made within 12 months of relocation Apply through RO Claims & supporting documentation to CFR Claims to be made through Spendvision Conversion rate and date must be provided – Oanda.com (preferred converter) Eligible costs only – refer to ARC funding agreement

46. NHMRC Acquittals Equipment grant –Due to be acquitted by November 2009 –Faculty Finance Officers will be contacted by CFR for the acquittal statements Other grants –Process will start in January 2010

47. DVC-R Funding New Schemes Account Management Changes Refresher

48. New Schemes: Equity Fellowships Laffan Fellowship (Disability) Brown Fellowship (Career Resumption) Thomson Fellowship (Academic Women) up to $60K ($30K per semester) $25K in teaching relief/technical support $5K in research support These are flexible awards and teaching relief periods may not be consecutive

49. Account Management Changes LIEF Accounts : A27 Lead, A28 Non-Lead, R5XXX partner account to collect internal contributions for paying invoices Federation Fellows – All continuing fellows will have individual UXXXX accounts to replace 10041 A movement towards individual accounts for all one-off DVCR funding to help facilitate future implementation of UEM & RIMS

50. USYD Post Doctoral Fellowship DurationDVC-RFaculty 3 years Funding begins when employment commences Initial Support grant $25K Cost of return economy airfare (if applicable) Contribute 80% of A8 Salary Notify HR & CFR when fellow begins appointment of U account Contribute the balance of Actual Salary

51. USYD International Visiting Fellow DurationCFRFaculty 2 – 12 Weeks Living Allowance $1,500 p.w. Economy airfare up to $2,500 (receipt necessary) Maximum Allocation $20k Transfer living allowance & airfare to U account Funding transferred on arrival of fellow Submit payment request for living allowance & airfare to AP(Class 5702 & 5711) Forward airfare receipt to CFR for reimbursement Cover deficit balance if overspent

52. Director of Research Office Warwick Dawson

53. RIMS-PT Update Over 5000 active records & 300 trained users Pending Close project Faculty Finance feedback session 30/6 –90% (14/16) felt RIMS useful/very useful –Easy to use, depth of info in one place –Would like historical data, more specific functions, more timely updates –Faculty finance user group Ongoing process improvement, data quality

54. New block grants Sustainable Research Excellence (SRE) –$510m over 4 years to support indirect costs of ACGR activities; builds on RIBG –Sustainable and strategic management of resources to meet costs –Transparent costing framework TBD in 2010 –$65m in 2010 plus $20m for implementation Joint Research Engagement (JRE) –Replaces IGS in 2010 –Same formula except Cat 1 income removed

55. Account opening and ethics From 1/1/08 account opening not tied to clearances being in place No research requiring clearance can commence before approved RIMS will remove manual follow up

56. New ARC schemes Laureate Fellowships (replaced Fed Fells) –USyd provides Level E salary (split DVCR & Fac/Scl) –ARC provides 128K salary top up, up to 300K pa support plus up to 2x5 yr postdocs and 2x3 yr stipends Future Fellowships –ARC provides 100% salary and oncosts for 4 yrs and up to 50K pa infra support (strict conditions) Super Science postdocs (one off) –ARC provides 100% salary and oncosts for 3 years –USyd provides 20K pa research support

57. Last but not Least

58. Contact Us Email: corpfinance.research@usyd.edu.au corpfinance.research@usyd.edu.au Website: http://www.finance.usyd.edu.au/about /research.shtml http://www.finance.usyd.edu.au/about /research.shtml

59. Q&A Thanks