Transcript Fiscal Management

The Purpose of the Workshop
To help you understand the basic concepts behind
many of the routine tasks related to your
responsibilities.
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Topics for Today
 PeopleSoft Financials (PSF) Account Numbers
 Basic Budgeting Concepts
 How to Get Things Done at CSU
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Does Everyone Use PeopleSoft Financials?
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Answer: Yes, all of the institutions within the University
System of Georgia use PeopleSoft Financials. However,
PSF is more widely used in the corporate sector.
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Who’s Idea Was That?
 Board of Regents – Made the decision to continue with
PeopleSoft Financials.
 OIIT – Provides technical
support for the system decided
upon by the BOR.
 Institutions – Are responsible for training campus
personnel and
implementing the system on each campus.
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PeopleSoft Financials
Account Number Structure
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What do the numbers mean?
Fund
Indicates the source
of the funds and
dictates “how” the
funds can be spent.
Department
Each department is
identified by a
unique and specific
number.
Program
Identifies the area of
function such as
academic support or
student support.
10000
4200000
16200
(St. Appropriations)
(Business Office)
(Institutional
Support)
Class
Account
Project ID
Identifies the overall Identifies the specific A unique three-digit
purpose of the funds. type of expense (or
ID assigned to each
revenue).
specific grant or
project.
11000
521000
(General Ops.)
(Salaries–
Prof/Admin)
N/A - (No grants in
this Fund)
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Summary of “Fund” Types
 Fund 10000 – State Appropriations
 Fund 10500 – Tuition
 Fund 10600 – Course Fees & Lab Fees
 Fund 12000 – Auxiliary Services
 Fund 13000 – Student Activities
 Fund 14000 – Continuing Education
 Fund 15000 – Indirect Cost Allowance
 Fund 16000 – Technology Fees
 Fund 20000 – Sponsored (Grants / Projects)
 Fund 50000 – Plant Operations
 Fund 60000 – Agency Funds (Funds held on account
for others)
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How Can These “Funds” Be Spent?
(This is why it seems as though the rules change!)
 Fund 10000 – Salaries and OS&E
 Fund 10500 – Salaries and OS&E
 Fund 10600 – Lecturers for specific courses, part-time
faculty for specific courses, lab materials, materials related
to courses for which fee is charged.
 Fund 12000 – Salaries, OS&E, and Expenditures related to
each Auxiliary Unit (ie, Cafeteria, Bookstore, Housing,
Parking, Student Health, Bus Operations, and Athletics)
 Fund 13000 – Salaries, OS&E, and Expenditures related to
Student Activities (ie, Food, Drinks, the Saber, Orientation,
Greek activities, Intramurals, Student Government
Organizations, Dance Team, Pep Band, etc.
 Fund 14000 – Salaries, OS&E, and Expenditures related to
workshops conducted by Continuing Education.
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How Can These “Funds” Be Spent?
(This is why it seems as though the rules change!)
 Fund 15000 – OS&E (Indirect expenses related University)
 Fund 16000 – Computers and software (Student Related
Only)
 Fund 20000 – All expenditures are according to each
specific grant “contract”
 Fund 50000 – Capital expenditure items such as major
repairs and renovations and purchase of capitalized
equipment
 Fund 60000 – All expenditures are according to each
specific agreement on file. Typical expenditures include
but are not limited to workshop “packages” and
food/beverages. NOTE: We can never pay personal
services from these funds.
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Fund 10000
10000
1300101
11100
11100
11000
714100
State
Dept. of Art
Gen. Acad. General
Supplies
Instruction Operating
& Mat.
Approp.
10000
4200000
16200
16200
11000
714100
State
Business
Fiscal
General
Supplies
Approp.
Office
Ops.
Operating
& Mat.
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Frequently Asked Questions - F.A.Q.
 When should a new account be established?
 What are the steps involved in establishing a new

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account?
Who assigns account numbers?
What happens if the number is not set up
correctly?
Why does it seem as though there are different
rules for different accounts?
Why can’t one set of rules apply to all accounts?
Why is the number so long?
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Budgets
What is a Budget?
A detailed plan
expressed in
quantitative
terms, based on
strategic goals
and objectives.
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BUDGETS
What is the Purpose of a Budget?
 Prioritize goals and objectives
 Maximize use of funds
 Monitor resources
 Enhance internal controls
 Plan (Short-Term and Long-Term)
 Provide historical record of spending
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April-July
June
May
Board Approves
Institutional
Budgets
Institutions
Prepare
Internal
Budgets .
Board
Approves
Budget
Allocations.
April
Board Develops
Budget Strategy
BOR
Approves
Budget
ANNUAL
BUDGET
CYCLE
General
Assembly Passes
Budget
August
Governor
Presents
Budget to
General
Assembly
Budget
Meetings with
Institutions
January
January February
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March
BUDGETS
Categories of Revenue
State
Appropriations
&
Student
Tuition
Course Fees
Lab Fees
Student
Fees
Student
Activities
Continuing
Education
Fees
Grants
Technology
Fee
Auxiliary
Enterprises
(formula funding)
Federal
State
Private
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Funding Flow - State Appropriations
State Legislature
Board
of
Regents
Columbus
State University
Vice President
for Academic
Affairs
COAL
COB
COE
COS
University
College
Enrollment
Services
Director of
Library
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BUDGET
Decision-Making Tools
 Projected
?
Revenues
Fringe
Benefits
Supplies
Staffing
Needs
Equipment
Salary
Increases
Facilities
 Projected
Expenditures
Student
Services
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BUDGETS
Appropriate Budget Management
 Use prior budgets as a
historical reference.
 Know how much you
have to budget.
 Understand how the
funds can be used.
 Monitor your budget at
least monthly.
 Amendments are for
non-psnl services only.
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BUDGETS
Consequences of Inappropriate Budget Management
Departmental
 Excess waste
 Unaccomplished goals
 Loss of professional
credibility
Grant and/or Project
 Missed deadlines
 Incomplete project
 Possible loss of future
funding
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BUDGETS
Frequently Asked Questions
1. How much is my
budget?
2. What kind of
expenditures am I
allowed to make?
3. If I have funds left,
can I carry these
funds over to the
next year?
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Let’s log into PeopleSoft Financials and Review a Budget
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We Need to Complete a Budget Amendment!
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You can only amend Non-Personal services. Personal
Services are ONLY budgeted with the Original Budget.
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Helpful Tips
 Where can I find blank Budget Forms?
http://csu.colstate.edu/forms/index.htm
 Do I need authorization to submit a Budget Amendment?
Yes! You need your department chair or administrator’s
signature.
 When should I submit a Budget Amendment?
You should amend your budget if something will not budget
check or you know that something will not budget check in the
future BUT…only if you have the available funds.
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More Helpful Tips
 Who should I call if I have a Budget question?
If you are calling about a grant, please contact your assigned
grant administrator. Otherwise, call either Pat Bryant, Budget
Director or Melanie White, Assistant Budget Director.
 How do I submit Budget Amendments?
You may submit your amendment electronically (via e-mail) or
by campus mail to the Budget Office in Richards Hall.
 How often can I submit Budget Amendments?
As often as you need. However, please keep in mind,
budgets should be used as planning tools--not cleanup tools.
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Questions or Comments
Can someone else do this?
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How to get things done at CSU
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TOPICS
Travel
Purchasing
Payments
Petty Cash
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TRAVEL
 Before you travel – Complete a travel application…no matter
what! Why? Unless you complete this form, you are not
covered by CSU.
 Travel Applications can be obtained on-line at:
http://csu.colstate.edu/forms/admin.htm
Obtain appropriate signatures and send to Business Services.
 After your trip, complete the Travel Reimbursement form. This
form can be obtained from the website above.
Obtain appropriate signatures and send to Accounting.
 If you need to reserve a CSU vehicle, please submit a request
to Plant Operations.
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Travel – Tips and Fast Facts
 Rental of vehicles MUST be approved PRIOR to travel.
 Questions concerning travel applications – Please call Sharon
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May in Business Services.
Questions concerning travel reimbursements – Please call Rita
Watts in Accounting.
The Board of Regents has approved a mileage reimbursement
rate of $0.50
All forms relating to travel can be obtained on-line at:
http://csu.colstate.edu/forms/admin.htm
Meal rates and other travel regulations can be obtained on-line
at:
http://businessservices.colstate.edu/purchasing/travel_info.asp
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PURCHASING
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Purchases can be made in a variety of ways:
 Cash – Typically, cash payments are utilized when the
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purchase is a low-cost item or an emergency. In such cases
Petty Cash is often used.
Check – Checks are most often used by an agency to make
payments on accounts due. For example, registration over $50
can be paid by check from the pre-paid account.
Credit Card – Purchases under $200 should be made using the
Visa card. Board of Regents is strongly urging institutions
to utilize Visa cards for purchases under $1,000.
Charge Accounts – Established by the “institution” with a
specific vender for a specific purpose.
Direct Billing – Established by the “institution” with a specific
vendor typically for service-type needs such as a Travel Agency.
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Purchases can be made in a variety of ways:
 Purchase Orders – A purchase request for must be completed
before a product is ordered. Limitation guidelines and
requirements are as follows:
 Under $1,000 – Use Visa card unless vendor will not accept.
 $1,000-$4,999 – Use the purchase order form. Bids are not
required. Visa cards can be used for purchases up to the
cardholder’s maximum single purchase limit.
 $5,000 - $9,999 – Purchaser must obtain six (6) bids, three
(3) of which should be from minority vendors. Bids must be
offered on company letterhead and signed by the vendor.
Telephone bids are not acceptable. Fax bids are acceptable.
 $10,000 and up – Purchasing Department will request bids
for orders over $10,000. These bids must be placed on the
Georgia Procurement Registry.
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PAYMENTS
Accounting Services
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Things You Need to Know About Payments
(Accounting Services)
 Although you send your Travel “Applications” to Business
Services, you send your Travel “Expense Statement” to
Accounting Services.
 Travel Expense Statements should be submitted no later than
three days after you return from your trip.
 Relative to Purchase Orders, once you have been notified your
order has been received, it is important to send your Completion
Copy to Accounting Services. They cannot pay the invoice until
they receive this copy.
 Questions concerning invoices or payments of invoices, please
contact Rita Watts in Accounting Services.
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PETTY CASH
Bursar’s Office
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Petty Cash – Policies & Procedures
Policies and Procedures
Most governmental agencies allow the establishment of petty cash accounts for the
agencies various departments. Specific policies and procedures, as well as the
amount of account limitation will vary from one agency to another. Typically, an
account is established for $100.00 per department. Receipts should be returned to
the agency’s business or accounting office within 24 hours. Failure to clear
outstanding petty cash limits petty cash availability to others. When utilizing petty
cash, a petty cash purchase order must be approved prior to the release of the cash.
The approving authority is usually the department supervisor or perhaps the
departmental secretary. The important thing to remember is, petty cash is
established with taxpayer’s dollars. Petty cash accounts are audited annually by
State of Georgia auditors. This account is NOT a “kitty”.
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How do I establish a Petty Cash account?
If your department does not have a petty cash fund and your agency allows
such purchases, you may want to consider establishing a fund for use in
emergencies or low-cost purchases needed quickly.
If allowed, a check is cut for the limited amount, typically $100.00. Your
department’s authorized individual, such as the department’s supervisor or
secretary should place the funds in a safe area that can be locked. As
individuals in your department request petty cash for various purchases,
receipts, as a result of those purchases, should be safe-guarded in the same
manner as the cash. (See “How to Replenish Petty Cash” below for an
example illustrating this process.)
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How is Petty Cash replenished?
This process takes place usually when the available cash begins to diminish and
receipts begin to accumulate. At a minimum, this process should be completed
once a month by each department within an agency. Again, exact processes will
differ from one agency to another. However, each department within an agency must
all conform to the same method of replenishment. The following are “typical” steps in
clearing petty cash for funds issued and cleared.
•The department will submit to the agency’s accounting office, the total of all
receipts and any remaining cash.
•The agency’s accounting office will then charge the specific department with the
amount equal to the receipts. A check is then produced and cashed for this same
amount. The amount of the newly cashed funds along with the funds returned
with the receipts should equal the established amount ($100.00.)
•The authorized departmental authority will sign for the cash thereby replenishing
the department’s petty cash to the maximum $100.00 and the department’s
budget is charged the appropriate amount for previous expenditures.
•The department’s petty cash is now restored to the $100.00 limit.
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Clearing Petty Cash
Receipts for purchases made are required to clear petty cash and should contain
the following:
•The vendor’s name and address or phone number.
•The receipt shows payment of cash was made. An invoice may be acceptable
if it is marked PAID.
•Purchases must match items on the petty cash purchase order obtain prior to
receiving the cash.
•If the purchase amount is less than the amount of cash received, the
difference must be submitted with the proof of purchase(s). For example: John
Brown received petty cash in the amount of $35.00 for the purpose of
purchasing 2 boxes of file folders needed unexpectedly. The total of the
purchase was $27.50. John turned in a receipt for the $27.50 and change in
the amount of $7.50. The receipt together with the cash returned equal the
$35.00 John received as petty cash.
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Last Minute Questions or Comments
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