1. Financial Rep Meeting July 13, 2011

2. OMNI EXPENSE ACCOUNT CODE CHANGES JUDD ENFINGER

3. 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

4. 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.:  741153 – Computer Misc Equip < 1000  741141 – Information Technology Supply  741151 – Computer Equip < 1000  741152 – Computer Periph Equip < 1000 ◦ Identified “primary” account based on historic activity, when there were several similar ones 4OMNI Expense Account Code Changes

5. 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

6. 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 ◦ http://controller.vpfa.fsu.edu/Expense-Account-Data-Dictionary http://controller.vpfa.fsu.edu/Expense-Account-Data-Dictionary ◦ PDF and Excel versions available OMNI Expense Account Code Changes6

7. 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

8. 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

9. 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 741272) ◦ An item/service did not fit into any of the existing accounts (e.g. 741966 Fees & Permits) ◦ To discourage the use of account 741951 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

10. 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 - http://www.purchasing.fsu.edu/Purchasing-Card-Information http://www.purchasing.fsu.edu/Purchasing-Card-Information Departments should rarely have to use any account not in this list Available on Controller’s website ◦ http://controller.vpfa.fsu.edu/Expense-Account-Short-List http://controller.vpfa.fsu.edu/Expense-Account-Short-List ◦ PDF and Excel versions available OMNI Expense Account Code Changes10

11. 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

12. Contact Judd Enfinger – Assistant Controller, Quality Assurance ◦ 645-2436 ◦ jenfinge@admin.fsu.edu jenfinge@admin.fsu.edu OMNI Expense Account Code Changes12