Georgia Institute of Technology

Fiscal Year 2010 Year End Town Hall Meeting March 25, 2010 8:30am – 10:30am Student Services Building, Room 117

Agenda

Opening Remarks Closeout Memo Review Business Services Update Payroll Update Salary Planning & Distribution Update Grants & Contracts Update Budget Update Institutional Research and Planning Update Questions from the Audience Carol Gibson Carol Gibson Judy Whitfield & Sharon Jackson Jerry Jobe Robert Ellington Sandy Mason Cheryl Rankin Sandi Bramblett

Closeout Memo Update

Carol Gibson

Controller, Controller’s Office

Opening Remarks

Carol Gibson

Controller, Controller’s Office

Business Services Update

Judy Whitfield

Director of Purchasing

Sharon Jackson

Associate Director, Business Services

Important Purchasing Deadlines

 Follow chronological close out dates posted on Procurement and TechWorks web sites  Submit EDP to OIT by April 16 to ensure timely processing by deadlines.

 All requisitions must have required documentation prior to processing

Open Encumbrances at Year-End

 Change Request Forms must be submitted via TechWorks by Thursday, June 24, 2010.

 The Open Encumbrance Report (GTPOR262) will be available exclusively on TechWorks – Run/Print/Review on June 29, 2010 – Return with request to close encumbrance by Noon on Wednesday June 30, 2010. No accounting changes or increases –

No Open Encumbrance Reports will be processed to effect 2009 or 2010 PO’s/budgets, if received after JUNE 30 th .

FY 2011 Purchase Orders

 FY 2011 requisitions cannot be entered until July 1, 2010 

Notice of Intent to Issue Purchase Order

form located on the Procurement Services form bank  FY 2011 transactions will not be available on any financial reports until July 14, 2010

Important P-Card Deadlines

 Transactions posted by bank be recorded in FY 2010.

by Friday, June 25, 2010 will  Transaction information available on Saturday, June 26, 2010.  Redistribution via Works must be completed by 4:00 PM on Thursday, July 1, 2010.  Redistribution via the Campus PCard (CPC) journal entry page must be completed by Friday, July 2, 2010  PCards may not be used to purchase prepaid registrations for FY 2011 using FY 2010 funds .

Accounts Payable



Deadlines

Monday, June 21 st at Noon

– Last day for approved invoices and

Check Request Forms

for posting in FY 2010  Properly approved on correct form  Valid account information  Supporting documentation  Sufficient encumbrance (for invoices, subcontracts) – Hand deliver urgent requests to a manager after this date to ensure processing by year-end

Accounts Payable Year-End Accrual Project

 All invoices dated 6/30 and prior that are not paid this fiscal year must be accrued. AP will use the electronic invoicing system through WebNow to record all invoices that are not paid by 6/30.

 Whenever possible, approve these invoices and submit to AP by year end  Do not “hold” paper invoices  Please submit all invoices to AP to be scanned into the invoice work queue and accrued even if the invoice is not approved.

Pre-Paid Expenses



What are they?

– Payments that must be made

this

fiscal year for an expense for a

future

fiscal year. Examples include registrations and airfare purchases paid prior to 6/30 for a FY 2011 conference/trip.



How do we make payments this FY?

– Directly bill airfare through Travel Inc. Registrations can be submitted on a CRF or TES marked ‘Pre-paid Expense’ (include next FY’s project account). – No P-Card charges allowed for future FY exp 

How are they posted?

– Expenses will post to the FY 2011 project/expense account in July

FY 2011 Accounts Payable Transactions

– First check run for FY 2011: July 1st – Expenses will not post to ledgers or the GT Data Warehouse (web payment look-up tool) until July 14th, but

TRUST US

, “The check is in the mail”

FY 2010 TES Processing



5/14

- Last day for TES submission for 4/30 and prior 

6/9

- Deadline for 5/1 – 5/31 trip end dates 

6/21

(noon)- Deadline for 6/1-6/19 trip end dates 

6/20-6/30

Trip end dates will be processed after July 1st, using FY 2011 funds unless hand delivered to a manager prior to noon on June 25th

Travel: Direct Billing of Airfare

 Reduced domestic routes and peak summer travel Make reservations as early as possible!

 Book reservations through Travel Inc by June 7 th ensure posting in FY 2010. to  Airfare for July 1 and later departure dates will be posted to a pre-paid expense account if state funds are used.

Travel Encumbrances

 Travel encumbrances using

sponsored

funds will carry forward for 90 days after fiscal year end. On 9/24/10, any open balances will be closed.  All open encumbrances using

non-sponsored

funds (including any related registration fees on the same requisition) will be closed by Friday, June 25 th .

 If trips are cancelled, or there are remaining funds on a travel encumbrance that has already been fully reimbursed, request closure via the

Purchasing Change Request

in TechWorks as soon as possible

Payroll Update

Jerry Jobe

Director, Payroll

Payroll Update

PSF’S

Completed ePSF By:

May 14

For May Payroll/Summer Pay

June 16

For June Payroll/Summer Pay

Payroll Update

TIME DOCUMENTS:

TIME EDITOR WILL BE AVAILABLE FROM 8 AM

June 3

Through 5PM

June 4

8 AM

June 17

Through 5PM

June 18 OFF CYCLE CHECK REQUESTS Due in Payroll Friday, June 11 by 12:00 Noon

Summer Pay Processing Calendar

Period Begin Date End Date

1 2 3 4 May 10 Jun 1 Jul 1 Aug 1 May 31 Jun 30 Jul 31 Aug 17

New Hire PSFs Due in Payroll Enter Summer Pay for this Pay Period By: Pay Date

May 14 Jun 16 Jul 14 Aug 13 May 18 Jun 21 Jul 20 Aug 20 May 28 Jun 30 Jul 30 Aug 31

Academic Contract Pay

August & May are ½ month pay regardless of the start or end date .

Full months are paid September through April.

All other months start or end pays are prorated based on days worked divided by the total work days in that month.

Salary Planning & Distribution (SPD) Update

Robert Ellington

Director, SPD Center

SPD Update

Early Annual Statement of Reasonableness (ASR) Form:

For staff and students terminating in May that are under the Plan Confirmation System:  Wed, April 14, the SPD Center will query Payroll Database for Terminating Employees in May.

(Please have PSF Term actions processed)  SPD Center will send Departments a list of identified Terminating Employees for Early ASRs.

 Departments will have a week timeframe to review and return list indicating who needs an early ASR.

SPD Update



Early Annual Statement of Reasonableness (ASR) Form:

 SPD Center will print early ASRs indicated by each Department and mail by end of April.

 Departments should obtain employee and Unit Financial Officer (UFO) certification on the Early ASRs, date, and return to the SPD Center .

–

No changes to the distribution on the early ASR can occur after they are printed or the certification is void and we will have to recertify .

SPD Update

Year End Close Dates:



June 25 –

Deadline for 120 Day Late cost transfer requests to externally funded sponsored projects 

June 30 -

Last Day for Paper SPD’s 

July 2

- Last Day for Campus Online SPD Redistributions 

July 9 -

 Mail FY 2010 Annual Statement of Reasonableness Obtain Employee signature and date  

Do not

sign for employee If employee not available, supervisor or PI sign as First Hand Knowledge (Department Chair in rare instances)  UFO sign on separate certification line and date 

July 14

- SPD Open for FY 2011 

August 31 -

Return Signed & Certified ASRs to SPD Ctr.

SPD Update

SPD Cost Transfers - American Recovery and Reinvestment Act (ARRA) Funds

 Beware of transfers involving ARRA-funded sponsored projects (“S” funds).

 Timely & Accurate Expenditure Posting is critical (cost transfers may be problematic if crossing reporting period quarters)  Finalize all FY 2010 ARRA salaries by fiscal year end.

Grants & Contracts Accounting Update

Sandy Mason

Associate Director, Grants & Contracts

Grants & Contracts Accounting Update



G&C Cost Transfer Deadline – June 30

– Paper and ECT 

Sponsored Project Exceptions

– Over budget – Undocumented exceptions must be cleared

Grants & Contracts Accounting Update



American Recovery and Reinvestment Act (aka Stimulus Funding or ARRA)

–

TRANSPARENCY

= >Scrutiny = >Audits – Quarterly narrative updates of the activity performed during the reporting period provided by PIs should be properly edited and consistent with expense postings – G&C combines with financial and award data and submits to FederalReporting.gov

– Post all appropriate January – March expenses

ASAP

Grants & Contracts Accounting Update



American Recovery and Reinvestment Act (aka Stimulus Funding or ARRA)

– Limit cost transfers between reporting periods  Cost transfers between fiscal years will be especially problematic – Review postings for accuracy  Allowable Costs, Job Titles, etc.

Budget Update

Cheryl Rankin

Assistant Director, Budget Office

Budget Update



Posting Revenue at Detailed Project ID level

 Revenue is currently posted at the summary project/fund level using a project like “FUND10010” or at the detailed project ID level using a project like “5551110’  A policy change is in progress to post all Institute revenue at the detailed project ID level (i.e. 5551110) 

Reason for This Change

 Increase in revenue reporting requests from Institute Admin, BOR & State Legislature due cuts in State Appropriations  Requests must include source of funds & dept ID  Summary project/fund level postings do not have this info

Budget Update



Campus Unit Actions

 Immediately begin posting revenue at the detailed project ID level for Journal Entries and Bursar’s Office Deposits 

Business Office Actions

 Develop and finalize policy  Continue to communicate changes to all campus units  Identify systems and programs that post revenue at the summary project ID level  Work with appropriate staff to change systems/programs to post revenue at the detailed project ID level

Institutional Research & Planning Update

Sandi Bramblett

Director, Institutional Research and Planning

Is Georgia Tech (still) one of the “Great Colleges To Work For”?

Georgia Tech has elected to participate in

The Chronicle of Higher Education

’s “Great Colleges To Work For” survey!

  Survey Specifics: – Random sample of faculty/staff – Web-based – Questions pertain to workplace experience, job satisfaction, benefits – 20 minutes to complete Timeline: – Invitation and instructions to participate sent to sample on March 22 nd . Survey closes April 16 th .

– Sample participants will receive two communications from President Peterson before and during the survey.

– Results shared this summer.

Questions from Audience

• •

Budget Office Bursar’s Office

• •

Business Services Controller’s Office

•

Salary Planning & Distribution

•

Grants & Contracts Accounting

•

Payroll