FY14 Year-End Closing Guidance

1. FY14 Year-End Closing Guidance Monday, June 2, 2014 Morningside Campus

2. Agenda • Overview of key closing guidance • Budget – Nancy Johnson, VP, Budget & Financial Planning • Payroll / HRIS – Barbara Hough, Controller; Jim Lindner, AVP, HRIS • Procurement – Joseph Harney, VP, Procurement Services • Financial Reporting & Operations – Michael Kerstan, Associate Controller • Sponsored Projects Finance – Tamara Hamdan, Executive Director, SPF • Q&A 2

3. Budget Tool

4. Budget Tool • Budget Tool Availability • Currently able to create $0 budgets for FY14 • Open to users to create budgets for FY15 by mid-June; if there’s a critical need to create a $0 budget for FY15 prior to the Budget Tool re-opening, please contact the Office of Management and Budget who will be able to create a $0 budget for FY15 on your behalf • FY15 Budget Setup • Users can currently view all screens (but not make changes) and perform downloads (direct activity and payroll) to ensure FY15 budgets are setup. 4

5. Payroll / HRIS

6. PAC Year-End Guidance • Payroll Suspense • Friday, July 18th: Deadline to clear suspense • Please use PAC Suspense Report to determine outstanding suspense. • Confirm/Review or Enter New FY15 Salary Distribution Profiles • New FY15 funding profiles can be entered whenever a budget has been created for the project/department used in the ComboCode. • Friday, June 27th: Begin reviewing/updating employee funding that was rolled over. • Monday, July 7th: Deadline for final approval of all new FY15 funding for bi-weekly payroll. • Thursday, July 10th: Deadline for final approval of all new FY15 funding for semi-monthly payroll. • If no new FY15 funding is established, employee earnings will be charged to the funding that was rolled over, or to suspense. • Graduate Research Assistant (GRA) Tuition Recovery Process • Extra GRA recovery process run planned for June 30th: GRA recovery related to cost transfers processed by Monday, June 30thwill be processed the evening of June 30th and available for review in ARC/FDS on Tuesday, July 1st. • Final GRA recovery process run scheduled for July 18th. 6

7. PAC Suspense Report Navigation: Sample Output: 7

8. PAC Funding Setup Report Navigation: Sample Output: 8

9. Procurement

10. Purchase Order Rollover Affirmation (in ARC) • Go to the Add/Update POs page in the Purchasing Module • Click on the Header Details Link 10

11. Purchase Order Rollover Affirmation (in ARC) • In the PO Header Details page, go to the “Available for Rollover” field in PO Details section. • All purchase orders are defaulted to “No”. To mark the PO for inclusion in the PO Rollover process, change the value to “Yes”. • Click OK on the bottom of the page. 11

12. Purchase Order Rollover Query (in ARC) • Navigate to the Query Viewer page • Search for the query CU_PO_ROLLOVER • Click on HTML to run the report 12

13. Purchase Order Rollover Query: Results • The Report will list out POs with open commitments • The “Confirmed for Rollover” column indicates whether the PO has been selected for Rollover • The “Rollover Error” column indicates whether there is an issue that will prevent the PO from being rolled forward to FY15. (These issues will need to be corrected prior to Rollover.) 13

14. Purchase Order Open Commitment Report (in FDS) Fiscal Year = 2014 Accounting Period = 12 Business Unit = select all that apply PC Business Unit = select all that apply Origin = leave blank Department Filter = select campus location Department Rollup = select all that apply Commitment Type = non-SAPO’s only 14

15. Purchase Order Rollover: Criteria The following criteria will be used to rollover purchase orders to FY15: • Any purchase orders in a Dispatched status with a valid Budget status that has the “Available for Rollover” field set to “Yes” by Friday, June 6th • Any departmentally dispatched purchase orders (against UWPA vendors) in a Dispatched status with a valid Budget status, created after Friday, June 6th with an open commitment • Any requisition submitted to Purchasing by Friday, June 6th will be sourced to a PO and rolled forward if the purchase order is in a Dispatched status with a valid Budget status and there is any open commitment • All POs rolled forward must have a valid FY15 budget set up Certain transactions will automatically be affirmed by Central and included in the rollover process: • SAPO’s • Multiyear PO’s that extend beyond FY14 • PO’s issued after Friday, June 6th, 2014 15

16. Key Dates: Purchasing • Purchase Orders must be affirmed for PO Rollover no later than Friday, June 6that 5:00 pm • Requisitions and Change Orders that require processing by Purchasing must be received by Purchasing no later than Friday, June 6th at 5:00 pm • Access to ePro & Purchasing Modules in ARC will close on Friday, June 27th at 2:00 pm • Remember to put FY15 budgets in place for all transactions to be rolled forward or accrued 16

17. Key Dates: Accounts Payable • For Non-PO Vouchers to be paid by June 30th, must have department approval and documents submitted no later than Friday, June 20th at 5:00 pm • Vouchers for travel advance requests needed in July must be submitted by Friday, June 20th at 5:00 pm • Vouchers for travel advance reconciliations that should be reflected in FY14 should be submitted by Monday, June 23rd at 5:00 pm • To have a voucher accrued, it must be entered into ARC by Friday, June 27th at 2:00 pm and have an invoice date on or before June 30th, 2014. Vouchers must have a valid budget line for FY14 and FY15. 17

18. Key Dates: Accounts Payable – cont’d • PO Vouchers can be entered in ARC up until Friday, June 27th at 2:00 pm • Must pass Matching and Budget Check • Unresolved vouchers will be deleted and need to be re-entered by the department in FY15 • Journal Vouchers must be processed and approved in ARC by Friday, June 27th at 2:00 pm • Journal vouchers that require SPF approval must be submitted and have department approval by Wednesday, June 18th • Journal Voucher page is in the AP module, so FY14 access will close on Friday, June 27th at 2:00 pm • All vouchers paid by wire that need to post to FY14 should have department approval and supporting documentation submitted by Monday, June 23rd at 5:00 pm • AP will need time to audit, resolve any Hold Items, and enter Adjustments for any foreign currency conversions 18

19. Key Dates: Accounts Payable – cont’d • STAPLES Advantage • Deliveries will continue uninterrupted • Last file feed from STAPLES to ARC for FY14 will be on Wednesday, June 25th • Information on STAPLES orders will not be fed into ARC between Thursday, June 26th and Monday June 30th • File feeds from STAPLES will resume on Tuesday, July 1st • P-Card close commences on Thursday June 26th at 12:00 noon • Transactions with a post date of June 22nd or earlier must be approved by close deadline • Reconcilers and Approvers are encouraged to verify and approve transactions daily from June 23rd through June 26th • Transactions that are Staged or Verified with a date between June 23rd and June 30th, but not yet approved, will be accrued to the P-Card default ChartString for FY14. Those unapproved transactions should be approved as part of the regular July close. 19

20. Procurement – Final Reminders • Pay attention to and resolve Hold notifications • Avoid Budget Check Errors • Resolve Budget Check Errors • Allow for time for Vendor Profile Creation • All users will be locked out of ARC from Friday, June 27th at 2:00 pm through Tuesday, July 1st at 9:00 am 20

21. Financial Reporting & Operations

22. Journals • Journal Approvals • Worklist • Journal approval search page

23. Journals – cont’d Search Results for Journal Approval Search Page

24. Journals – cont’d • Journal line description • Use the Journal line description (it is on the far right side of the entry template for those creating journals online) to describe the purpose of the entry • If you don’t fill it in, it automatically populates with the account description • Length of 30 characters

25. Journals – cont’d • Attach supporting documentation • On the header tab, under “Attachments” • Attach Excel, Word, and/or PDF documents • Allows users such as FR&O, OMB, and auditors to look at supporting documentation without contacting you • Certain policies require that documentation be attached to journals (e.g. gift and endowment policy)

26. Cash • Unclaimed cash receipts • Contact cashaccounting@columbia.edu • Cash to Tellers • Both Morningside and CUMC Tellers are available to accept cash batches until Monday, June 30th at 3:00 pm • Cash to Office of Alumni and Development • Both Morningside and CUMC have deadlines for submission of gifts • Morningside – Monday, June 30th at 12:00 noon • CUMC – Wednesday, June 25th at 12:00 noon • Recording expenses flowing though international bank accounts • These are processed as journal entries and workflow takes the entries to Accounts Payable and the Controller’s Office for approval • The cut-off for these is Friday, July 18th

27. Accruals • Accrued Expenses • There is a system based accrual for vouchers entered into the AP module of ARC by Friday, June 27th at 2:00 pm provided that: • The voucher is on an expense account • The ChartString passes budget check • There is a system based accrual for Purchase Orders that meet the following criteria: • The item being purchased is classified as a ‘good’ • The account being charged begins with a ‘6’ • The due date is Monday, June 30th or prior • Manual accruals can be sent to FR&O until Friday, July 18th at 12:00 noon • When processing vouchers in July, please send FR&O accruals for those where the expense is incurred in June or prior provided that it is not related to an expensed purchase order

28. Post Closing Activities • Variance Analysis • Please remember to submit your variance analysis on time as it is a critical component in describing the activities of the University • If you find a problem when writing your analysis, please reach out to FR&O or OMB. The earlier a problem is identified, the earlier a solution can be found • Define acronyms, be descriptive, more is better • Audit Requests • Please reply promptly to audit requests • If you have questions about what you should provide, the format of the response, or when your reply is needed, please ask FR&O • External auditors arrive on Monday, August 11th and must finish by Monday, September 15th

29. Key Dates: General Ledger • Journal Entries • Interdepartmental charges should be entered by Thursday, July 3rd • Completion of accruals and cost transfers by Friday, July 18th • Completion of fund balance transfers by Wednesday, July 23rd • Deposits • Cash batches to Tellers – Monday, June 30th at 3:00 pm • Gift Transmittals to OAD – Monday, June 30th at 12:00 noon for Morningside • Accruals • Requests from Morningside due to FR&O by Friday, July 18th • Endowment • New endowment creates should be submitted by Friday, June 13th • Requests for decaps or recaps of endowments are due by Wednesday, June 25th • Variance Analysis • Analysis of year end results is due by Friday, August 15th • System Access • All users will be locked out of ARC from Friday, June 27th at 2:00 pm through Tuesday, July 1st at 9:00 am • Journal processors will be locked out of ARC from Wednesday, July 23rd at 6:00 pm to Sunday, July 27th at 9:00 am

30. Sponsored Projects Finance

31. Sponsored Projects Finance • Two key overrun dates • Monday, June 16th • Date on which SPF will begin to clear unresolved overruns on projects that have terminated nine months or more prior to June 1st, 2014 to unrestricted projects belonging to the responsible School/department. • Friday, July 11th • Date up to which departments can initiate journals to clear true overruns on projects that fall outside of the terminated > 9 months bucket. • Two key transaction dates • Wednesday, June 18th - SPF-reviewed AP Journal Voucher cut-off • Date by which AP Journal Vouchers requiring SPF approval [>90 days, debit Sponsored Project] must be submitted and must have all departmental approvals in order to guarantee SPF review before AP cut-off. • Friday, July 11th- SPF-reviewed Journal Entry and Internal Transfer cut-off • Date by which GL Journal Entries and GL Internal Transfers which impact a sponsored project must be submitted and must have all departmental approvals in order to guarantee SPF review before Journal Entry cut-off.

32. Wrap-Up / Questions

33. FY14 Year-End Closing Guidance • Closing guidance memo and calendar can be found on the Finance Gateway at http://finance.columbia.edu/content/fy14-year-end-closing-guidance. This presentation will also be available on the website. • Weekly e-mails re: upcoming deadlines and related information • Questions after today’s session? • Specific contacts for each area listed in the closing guidance memo • Contact the Finance Service Center • http://finance.columbia.edu/content/finance-service-center • (212) 854-2122 • Monday, Tuesday, Thursday: 9:00 am – 5:00 pm • Wednesday: 9:30 am – 5:00 pm • Friday: 9:00 am – 4:00 pm