Transcript Document

Stewardship of University Resources
New Department Administrator
Orientation
Trina Mahoney
Budget Director
Stewardship of University Resources
Topics:
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Fiscal Stewardship
Funding Sources
What Kind of Budget Is It?
Allowed Uses by Budget Type
Budget Information and Where to Find It
Vandal Strategic Loan Fund
Fiscal Stewardship
All assets, financial and otherwise, are owned by the University/its
Board of Regents. As employees of the University it is our duty to act
as responsible stewards of these assets.
Budget and Finance Responsibilities:
Provide strategic direction for linking budget and financial processes to
the University Strategic Plan and serve as the principal financial offices of the
University. Responsible for:
o Providing leadership in budget and financial accountability,
policy, systems, and reporting
o University internal control development, implementation,
and monitoring
o Evaluation of user needs and services.
Fiscal Stewardship (cont.)
College/Division Responsibilities:
o Ensuring that the division implements, maintains, and follows proper
administrative accounting and financial procedures, as well as all relevant
governmental and regulatory requirements.
o Providing access to training for individuals who will be on the “front lines”
performing transactions and providing guidance for faculty and other staff
members.
o Ensuring that budget line items are reviewed and reconciled on a monthly
basis and variances are identified and supported with good documentation to
include salary, operating, and capital expenditures.
o Understanding internal control concepts, correcting management control
weaknesses and providing access to internal control training to staff and
faculty.
Fiscal Stewardship (cont.)
What You Can Do:
o Know your fiscal contacts. Who within your department/college/division
can provide you with information?
o Know your budgets. Work with your fiscal contact to learn what budgets
you are responsible for. This should include all applicable fund/budget types.
o Know your college policies. Each college had unique policies that the
Budget Office or other central fiscal offices may not be aware of. When you
meet with your fiscal contact ask about these policies and how they may
impact your budgets.
o Be actively involved from the start. Meet with your fiscal contact now and
stay engaged during the year to avoid year-end issues.
o Monthly reports on budget status keep you informed and provide
opportunity to identify incorrect charges in a timely manner.
Funding Sources for the UI
o Appropriated Funds
o State (State General Fund, Student Fees, Land Grant
Endowments)
o Federal (i.e. Ag Research and Extension)
o The UI receives 6 separate appropriations out of the State
General Fund:
o General Education (Main UI Appropriation – “X” budgets)
o
o
o
o
o
WWAMI (Medical Education)
WI (Veterinary Medicine Education)
Idaho Geological Survey
Forest Utilization Research
Ag Research and Extension
Funding Sources for the UI (cont.)
o Non-Appropriated Funds
o Centrally Allocated (G&A, Central F&A, Investment Income – “U” budgets)
o Local Service (Publications, Field Trials, etc. – “Y” budgets)
o F&A Return (“6” budgets)
o Student Fee Revenue (“7” budgets)
o Special Course and Lab Fees (“8” budgets)
o Gifts (CIT Earnings, Annual Giving – “N” budgets)
o Grants and Contracts (“K” budgets)
o Auxiliaries (Housing and Dining, Athletics)
o Service Centers (Telephone/IT Services)
o In order to manage all resources appropriately you should have budgets (i.e.
revenue and spending plans) for all funding sources within your department
including the above non-appropriated funds. You should also know what each
funding source can be used for/what restrictions may apply.
What Kind of Budget is it?
The third character in the organization number (aka budget number) tells you the
funding source behind it. Below is a list of the most common, university-wide 3rd
characters:
o X: General Education (backed by state appropriations, tuition, land grant
endowment funding). Ex: AAX001
o U: Centrally Allocated (backed by the central portion of F&A return, investment
income and G&A fees). Ex: BDU003
o N: Gifts (backed by donations/endowments received through the UI
Foundation). Ex: DAN200
o K or 2: Grants and Contracts (backed by external funding awarded via
competitive/proposal process). Ex: EDK187
What Kind of Budget is it? (Cont.)
o Y: Local Service (backed by revenue generating activities you are engaged in).
Ex: FAY001
o 6: F&A Return (backed by the college/dept portion of F&A return). Ex: GD6300
o 7: Student Fees (backed by student fee revenue such as web fees, certain
activity fees, etc.). Ex: HA7295
o 8: Lab & Course Fees (backed by lab & course fees approved through the
Academic Affairs process). Ex: JA8700
What Kind of Budget is it? (Cont.)
Permanent versus One-time, Revenue Generating – what does it all mean and
what do I need to know?
Base/Permanent: These terms both refer to the recurring funding you receive every fiscal
year. For most areas these come in the form of General Education (“X”) or Centrally
Allocated (“U”) funding and unless you are notified of a change you can count on these funds
coming to you every year.
One-time: This is funding that has been allocated to you to spend once or that you have
saved up from prior years and once you spend it it’s gone.
General rule: You should avoid making any kind of long-term or permanent commitment
using one-time funds. One-time funds should be used to meet short-term or one-time needs
such as temporary hires, equipment purchases etc.
What Kind of Budget is it? (Cont.)
Permanent versus One-time, Revenue Generating– what does it all mean and
what do I need to know?
Revenue Generating Budgets: Many of you have these – the most common ones are Y, 6, 7
and 8 budgets. Unlike your General Education (“X”) and Centrally Allocated (“U”) budgets
where Central monitors the revenue and you are given an upfront allocation these budgets
have to generate their own funding and you cannot spend more than you have generated.
Every spring each college/unit is responsible for submitting a budget (estimate) for the next
fiscal year for each of their revenue generating budgets; while these original budgets are
important for understanding the total revenue and expense planned for the university they are
only an estimate. You are responsible for knowing how much revenue is actually generated
and ensuring that your expenses do not exceed your available resources (prior year carry
forward of unspent revenue plus current year revenue).
General Rule: You need to be monitoring both the revenue and the expenses for these types
of budgets on a regular basis.
Allowed Uses by Budget Type
o While most normal business-related expenses can be expensed on any budget type
there are some limitations you should be aware of.
o Accounts Payable is in the process of updating the policies regarding limitations by
budget type; in the meantime you should refer to the Administrative Procedure Manual
Chapter 70 and in particular the following sections:
o 70.20 Summary of Promotional Expense Allowability: this section provides a
helpful matrix of certain expenses and what budget type they can be incurred on.
Note that for this matrix “Local Service” now would include Y, U, 6, and 7 budgets.
o 70.22 Meals and Refreshments for Official Meetings: this section outlines the
requirements to be met for a meeting to qualify for meal or refreshment provisions.
o In addition to university-wide policies you should also be aware of the limitations on
specific departmental funds (i.e. know what is allowable on your grants, be aware of
any donor restrictions on gift budgets, etc.).
o When in doubt don’t hesitate to ask. A few minutes researching appropriate
expenses today can save you/your fiscal contact a great deal of time later.
Allowed Uses by Budget Type
o Special Course and Lab Fees (“8” budgets): As some of you may already be aware
the State Board of Education has been reviewing these fees and the related SBOE
policy. As part of this review each institution’s Internal Audit office was asked to do an
audit of their SCL accounts and to report back to the SBOE Audit Committee on their
findings.
o The SBOE is now working on major revisions to their policy which will much more
clearly outline how these fees may be used and the accounting structure needed to
track both revenue and expenses.
o For the UI we have already adopted general principals which we feel will align with
the SBOE’s policy. In general we need to account for these fees in a way that allows
us to show both revenue and expenses for each individual fee to ensure we are not
overcharging students. In addition we need to only use fees to cover the expenses for
which they were approved. If a department needs to change a fee in any way,
including its use, it must be approved via the process managed by Academic Affairs.
Please see the Academic Affairs website for the full policy and principals related to
these fees.
Allowed Uses by Budget Type
APM 70.20 Matrix:
Sponsored Funds (“K” Local Service Funds
Budgets)
(“Y” Budgets)
Gift/Foundation Funds
(“N” Budgets)
Authorized awards
and/or recognition
YES
programs for employees
YES**
YES
YES*
Social events such as
birthdays, holiday
NO
parties, office parties, etc
NO
NO
NO
Meals and refresh-ments
for business meetings
and retreats to conduct
University business, staff YES
and student
development. [Subject to
APM 70.22]
NO
YES
YES*
Official recruiting costs
for faculty and staff
positions
YES**
YES
YES*
NO
YES
YES*
Expenditure Types
State Appropriated
Funds (“X” Budgets)
YES
University or
departmental sponsored
NO
recognition or reception
events
Allowed Uses by Budget Type
APM 70.20 Matrix (Cont):
Sponsored Funds (“K”
Budgets)
Local Service Funds
(“Y” Budgets)
Gift/Foundation Funds
(“N” Budgets)
Alcohol, if authorized for
University events [Subject NO
to APM 70.21]
NO
YES*
YES*
Memorial gifts and/or
recognition approved by
the president
NO
NO
YES
YES*
Gifts of nominal (less
than $50) value to
donors, members of
NO
governing boards,
volunteers, and University
supporters
NO
YES
YES*
Flowers for employees,
spouses, members of
University governing
boards, & others
significant to University
NO
YES
YES*
Expenditure Types
State Appropriated
Funds (“X” Budgets)
NO
Allowed Uses by Budget Type
APM 70.20 Matrix (Cont):
Sponsored Funds (“K”
Budgets)
Local Service Funds
(“Y” Budgets)
Gift/Foundation Funds
(“N” Budgets)
Entertainment and related
expenses for official
NO
functions [Subject to APM
70.23]
NO
YES
YES*
Professional dues, fees
and memberships in
professional organizations NO
[Executive Order 200306]
(See APM 45.06 E, #28)
NO
NO
Personal memberships in
social, non-professional
organizations (e.g.,
athletic clubs)
NO
NO
NO
NO
Child care expenses
NO
NO
NO
NO
Political contributions and
NO
fund raisers
NO
NO
NO
Expenditure Types
State Appropriated
Funds (“X” Budgets)
Allowed Uses
APM 70.22 Summary (visit the online APM for the full text)
To have refreshments at a departmental sponsored meeting/training session:
• Published agenda and employee attendance is mandatory
• Agenda of at least 3 hours
• Minimum of 5 employees attending
• Total cost of refreshments cannot exceed $7.50 per attendee
To have meals at a departmental sponsored meeting/training session:
• Published agenda and employee attendance is mandatory
• Meeting/training location or scheduling do not lend themselves to a meal recess
• Meeting business is furthered by speeches, presentations or interpersonal
exchanges that would not normally occur on a daily basis
• Agenda of at least 6 hours
• Minimum of 5 employees attending
• Total cost of meals cannot exceed $10.50 per attendee for lunch or $16.50 per
attendee for dinner
Budget Types and Allowed Uses
APM 70.22 Summary (visit the online APM for the full text)
Additional information:
• Remember: regularly scheduled staff meetings do not qualify for meals or
refreshments unless they occur no more than quarterly and attendees are
brought together from various locations throughout the state.
• Where did the university get these rules? The university is following Section 12
of the State Board of Examiners Policy No. 442-50 effective July 1, 1996, Office
of the State Controller. This can be found at:
http://www.sco.idaho.gov/web/sbe/sbeweb.nsf/pages/trvlpolicy.htm#12.%20M
eal%20Expenses%20Allowable
Budget Information: Where to find it
o Budget Books: These documents are published each fiscal year and
contain your base budget(s) for the following funds:
o General Education (“X” budgets)
o Local Service (“Y” budgets)
o F&A Return, Student Fees, Lab & Course Fees (“6”, “7”, and “8”
budgets)
o Centrally Allocated (“U” budgets)
o Other Appropriations (WWAMI, WI, FUR, IGS, Ag Research)
o Auxiliary Services and Service Centers
o Periodic Budget Reports: Banner provides several report formats for
tracking financial performance during the fiscal year. Your departmental fiscal
contact should be able to provide these for you.
o Finance Self-Service (VandalWeb): This web-based view of Banner data
allows end users to perform basic queries.
Finance Self Service
To access budget information on
VandalWeb: log into VandalWeb and
click on the “Employee Menu” tab.
Finance Self Service
Once on the Employee Menu tab scroll down to the
Financial Task section and click on “Finance Self
Service for Non-Banner Users”
Finance Self Service
Finance Self Service
Available Queries:
• Budget Queries
o
o
o
o
Budget Status by Account
Budget Status by Org Hierarchy
Budget Quick Query
Payroll Expense Detail
• Encumbrance Query
• View Document
• Budget Availability
Finance Self Service
Budget Availability
Finance Self Service
Budget Availability
Budget Information: Grants and Contracts
The Office of Sponsored Programs manages the
reporting specific to grants and contracts. If you are
responsible for managing any grant budgets please visit
their website or work with your financial support staff to
determine what tools are available to you:
www.uidaho.edu/osp/award/
Budget Information: What if I can’t
find what I need?
Most colleges or divisions within the University of Idaho have several levels of
financial support:
Financial Technicians or other positions at the department level who can assist
you with transactional data or report development for your department.
Fiscal Officers or other positions at the Dean’s Office level who can assist you
with questions regarding college or division fiscal policies or with questions
your departmental support staff is unable to answer.
In addition, the Budget Office is always available to help you or your fiscal staff
address questions, etc.
Budget Information: What if I can’t
find what I need (cont.)?
Budget Office contact information:
Trina Mahoney
Director
5-4387; [email protected]
Kimi Lucas
Strategic Financial Planning Manager
5-5255; [email protected]
Janice Todish
UI Budget Management Specialist
5-7045; [email protected]
Jill Robertson
UI Position Control Specialist
5-7122; [email protected]
Aaron Cruse
Financial/Personnel Technician Senior
5-6718; [email protected]
Never Stop Learning
o There are staff working everyday to develop and improve the tools we
have available:
o I just learned last week that there is a function out on Vandal Web that
allows anyone to track the status of their travel claim.
How to find it: Log into Vandal Web, go to the Employee Menu tab
and scroll down to Financial Tasks. Look for the “Pending
Travel/Purchasing card claims” link:
Never Stop Learning
Once you click on the link it will give you the option of selecting the number of
days you want to look at (it defaults to 30 days but I put in 500 since my last trip
was a while ago):
Hit submit and you will get an interactive list of results:
You can click on the Trip ID and Claim ID numbers to get additional information
include trip details, who approved and when, etc.
What is VSLF and how does it
Reflect Fiscal Stewardship?
VSLF is the Vandal Strategic Loan Fund: an internal UI loan program aimed at
enabling university units to make key purchases or investments that will either
move programs or initiatives forward or will result in significant real cost savings.
This program uses the resources (fund balances) held in hundreds of accounts
across the university to make loans – not unlike banks using the deposits of
account holders to offer mortgages and other loans.
Putting our own funds to work for the university and avoiding paying interest
to outside entities = Fiscal Stewardship
If you are interested in learning more about the VSLF program please visit our
website at:
http://www.uidaho.edu/budgetoffice/vandal-strategic-loan-fund
Stewardship of University Resources
Questions, comments, etc.?