Georgia Institute of TechnologyFiscal Year 2012 Year End Town Hall MeetingMarch 29, 20121:00pm – 3:30pmStudent Services Building – Room 117
Agenda • Admin Network Announcements Darlene Wright, Cindy Jackson • Opening Remarks Jim Fortner • Closeout Review & GL Update Carol Gibson • Business Services Update Ajay Patel, Sharon Jackson • Payroll Update Jerry Jobe • Salary Planning & Distribution Update Robert Ellington • Grants & Contracts Update Sandy Mason & Don Cochran • Budget Office Update Cheryl Rankin • Questions from the Audience • Help Desk Information
Office of Human Resources Update Darlene Wright Director - Employee Benefits Office of Human Resources
Is Georgia Tech (still) one of the “Great Colleges To Work For”? Georgia Tech has elected to participate in The Chronicle of HigherEducation’s “Great Colleges To Work For” survey! • Survey Specifics: • Random sample of 600 faculty/staff • Web-based • Questions pertain to workplace experience, job satisfaction, benefits • 20 minutes to complete • Timeline: • President Peterson sent email announcing GT’s participation in this survey on March 22nd • Invitation & instructions sent to random sample March 26st • Survey closes April 13th • Results shared this summer
Earth Day/Think Green Week Cindy Jackson Assoc Director - Waste Management Facilities
Town Hall MeetingOpening Remarks Jim Fortner Associate Vice President Financial Services
Closeout Review & General Ledger Update Carol Gibson Controller Controller’s Office
Closeout Review • All changes from prior year listed in “bold text” • Follow all deadlines for timely closeout • PSoft Financials downtime, July 10, 11 & 12 • BuzzMart available during Financials downtime • Financials open for FY 2013 on Friday, July 13 • Annual Financial Report due August 8
Closeout Resources • Closeout Memo/Schedule/Calendar posted on: • Controller’s Office Website - www.controller.gatech.edu • Business Services Website - www.procurement.gatech.edu • TechWorks – Login > Admin & Finance News Pagelet • PowerPoint Slides posted on: • Controller’s Office Website - www.controller.gatech.edu • TechWorks – Login > Admin & Finance News Pagelet
General Ledger Update • Audit Issues – New Areas of Focus for FY2012 • Equipment Management • Mgmt Letter for FY11 Audit – Internal Control Issue • Items not found by Auditors – Projected Misstmt $3.8M • Equip location affects Facilities & Admin(F&A) Cost Recovery • Unallowable use of PCards • Mgmt Letter for FY11 Audit – Internal Control Issue • Split Transactions – Same Vendor/Same Day/ Exceeds Limits • Violation of Institute and State PCard Policies • Employee Compensation – Biweekly Time Entry • Mgmt Letter for FY11 Audit - Dept Records not in sync with HR • Quarterly Reviews by Payroll
General Ledger Update • Audit Issues – New Areas of Focus for FY2012 • Prior Year Purchase Orders (Surplus Funds) • PY Exp < PY Enc, balance is surplused to state • Printed in Annual Financial Report visible to President • More focus on surplus funds – amount has risen • Business office will monitor surplus funds monthly & report provided to SVP for Admin & Finance
General Ledger Update • Managing Prior Year Purchase Orders • New report for campus administrators • Summary Prior Year PO Report(718) – Dept, Proj, PO ID • Cfwd Budget, YTD Enc, YTD Exp, Lapse Amt • Rules • PO must reflect correct Budget Reference (PY) • Expense Amount cannot exceed EncAmount • Issues with Vendor or Item/Service • Vendor Cannot Supply Item/Out of Bus– Substitute Vndr • Item/Service cannot be provided – Like item/service
General Ledger Update • Managing Prior Year Purchase Orders • Payment Issues with PY PO’s • System limitations prevent AP from applying an expense overpayment by line to another line on the PO • Business Services analyzing solutions for this issue • PY Exp > PY Enc by line, must be covered in CY • Once PO fully liquidated, if total Exp < PY Enc and Exp posted in CY, process JE to move expense from CY back to PY (www.controller.gatech.edu/forms)
General Ledger Update • Helpful Hints for Managing PY PO’s • Run and Review Ledgers/Reports regularly • Open Encumbrance Report (262) • Summary PY PO Report (718) • Prior Year Expense Ledger (306) • Contact email@example.com for PY encumbrance issues • Contact firstname.lastname@example.org for PY payment issues • Contact email@example.com for GL Rpt/Posting issues
Business Services Update Ajay Patel Director of Purchasing Business Services Sharon Jackson Director of Accounts Payable and Travel Business Services
Important Purchasing Deadlines • Follow chronological close out dates -posted on Business Services and TechWorks web sites • All requisitions must have required documentation attached prior to processing • Requisitions missing documentation will be returned to Requester
Important Purchasing Deadlines (≥$5,000) • Friday, May 4th • Deadline for Requisitions that require bidding • Friday May 25th • Deadline for Requisitions with sole source documentation • Friday June 8th • Deadline for Requisitions that use State or GT Contracts • Tuesday, June 19th • Deadline to request a new vendor in BuzzMart for Requisitions
Confirming Order Form • Use for • Purchases <$5,000 when an invoice has been received • Not initiated with a BuzzMart requisition • Should be an exception, not for routine procurement • Do not include a copy of invoice as an attachment • Approve invoice using Confirming Order PO# and send the invoice to AP for payment, either through WebNow routing or by sending via email attachment to firstname.lastname@example.org
Open Encumbrances at YrEnd • Open Encumbrance Report (GTPOR262) available in TechWorks • Friday, June 22nd • Deadline to submit BuzzMart Change Request Forms • Tuesday, June 26th • Deadline for Approvers to Approve or Return all assigned Requisitions in BuzzMart ($4,999 or less) • BuzzMart will be unavailable after 5pm • Unapproved Requisitions in BuzzMart will be returned
Open Encumbrances at YrEnd • Thursday, June 29th • Return Open Encumbrance Reports by noon to Business Services to email@example.com • No accounting changes or increases • No Open Encumbrance Reports will be processed to effect FY 2011 or FY 2012 PO’s/budgets, if received after June 29th
BuzzMart Expedited Transaction Reports for FY12 • Monthly Expedited Transaction Report • For BuzzMart Catalog orders <$3,000 • Reports for FY2012 should be current through January • All FY2012 should be current by August 15th • More info on procurement web page (BuzzMart/ forms) www.procurement.gatech.edu
FY 2013 Purchase Orders • Users will delete ALL shopping carts from FY2012 • FY 2013 requisitions cannot be entered until Monday, July 2nd • Notice of Intent to Issue Purchase Order form located on the Purchasing forms bank • FY 2013 transactions will not be available on financial reports until Friday, July 13th
Split Transactions • For Catalog Orders • No Split funding at the line and header level • Use separate lines for each account/ project • Use journal entries/cost transfers for accounting changes
PCard Update • The PCard is still a great procurement tool for small dollar purchases from non-contract vendors and all registration payments • BuzzMart is the procurement tool for Catalog Vendors
PCard Deadlines • Transactions posted to bankby Wednesday, June 27th will be recorded in FY 2012 • Transaction information available on Thursday, June 28th, after 3pm • Redistribution via Works must be completed by 2pm on Friday, June 29th • Redistribution via the Campus PCard (CPC) journal entry pagemust be completed by Friday, June 29th 6pm
Customer Service Support • FAQ’s on Procurement Website • Contact info:
Invoice Process Flow NOTE: Vouchers are ‘In Process’ until successfully matched and will not post to PeopleSoft until matching is complete
Accounts Payable Deadlines • Monday, June 18th • Deadline for approved invoices that reference a BuzzMart PO and all other AP Forms • Properly approved on correct form • Valid account coding • Supporting documentation • Sufficient encumbrance • Receipt entered for all orders $3000+
Accounts Payable Deadlines • Invoices that reference a BuzzMart PO will continue to be entered through 6/29, on a first-in, first-out basis • Invoices that do not reference a valid BuzzMart PO will be scanned and routed to WebNow departmental work queues for approval. Use the WebNow worksheet to approve the invoice and payments will be processed on a first-in, first-out basis. • There will be no access to BuzzMart for Receipts and Match Exceptions from 6/27-7/1
BuzzMart Receipts All POs $3,000+ require a receipt. Receipts must be entered prior to 5pm on June 26th to be eligible for matching and payment prior to June 30th. If a receipt is not entered within the 3 day window after invoice entry, both a receipt and ‘Force Match’ must be entered.
BuzzMart Match Exceptions • Match exceptions based on system tolerances • 5% up to $500 per PO • No additional line items • Receipt cost/quantity • Action must be taken by the Finance Approver • Enter Receipt & Force Match ($3000+, if OK to pay) • Force Match with comment (<$3000, if OK to pay) • If voucher correction must be made, enter a comment with instructions and send to firstname.lastname@example.org. Force matched vouchers will automatically be set up for payment. DO NOT FORCE MATCH if there is a problem with the invoice/voucher.
AP Year-End Accruals • All invoices dated 6/30 and prior that are not paid this fiscal year must be accrued • Whenever possible, approve invoices in WebNow and submit to AP by year end deadlines • Do not “hold” paper invoices. Submit all invoices to email@example.com (1 invoice per email) to be scanned into the invoice work queue and accrued, even if the invoice is not approved for payment.
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 FY13 conference/trip. How do we make payments this FY? • Directly bill airfare through Travel Inc. • Use the CRF and check ‘Pre-paid Expense’ (include next FY’s expense account). How are they posted? • Expenses will post to the FY13 project ID/expense account in July
ACH Payment Option • Vendors and other payees that expect 3+ payments per year through Accounts Payable can register for ACH electronic payments • The vendor must be an active vendor for Georgia Tech prior to setting up ACH payment
FY 2013 AP Transactions • First check run for FY13: July 2nd • Expenses will not post to ledgers or the GT Data Warehouse (web payment look-up tool) until July 13th, but TRUST US, “The check is in the mail” or “The ACH has been sent”
Travel and Expenses (T&E) T&E System—1 Year Old • 6,200Travel Authorizations approved • 28,000 Expense Reports Paid • 5,600 Employees received reimbursements • Significant system enhancements and fixes have been added since go-live to improve productivity and the user experience
T&E System • T&E will be available throughout close-out for entry & approval of Travel Auths and Expense Reports • Expense Reports will be processed on a First-In, First-Out basis through June 29th • T&E reimbursements begin for FY13 on July 2nd • Send requests to expedite expense reports using FY12 lapsing funds to firstname.lastname@example.org. They will be processed as volume/timing permits.
T&E Pending Transactions • Financial Managers should review all TAs and Expense Reports in ‘Pending’ status to ensure that documents are approved in a timely manner
T&E Pending Transactions • Most items in ‘Pending’ status require employee review/submission
T&E Web Payment Inquiry • View the status of all T&E transactions, by Empl Name, Report ID, Campus Ref# or Empl ID
Non-Employee Travel • Monday, June 18th • Deadline for Employee Payment Request Forms and TES for Nonemployees • Valid account coding • Supporting receipts • Payments will continue to be processed through June 29th. Send urgent payment requests for FY12 lapsing funds to email@example.com.
Direct Airfare Billing • Airline tickets will be paid against FY12 funds if posted to the Institute account by June 8th. • Airfare for July 1 and later departure dates will be posted to a pre-paid expense account if state funds are used. Provide valid FY13 project ID at time of reservation.
Customer Service Support • FAQ’s on Procurement Website • Contact information:
Customer Service FAQs • New FAQs have been posted for all functional areas of Business Services! Search by keywords
Payroll Update Jerry Jobe Director of Payroll Office of Human Resources
Payroll Update • PSF’S • Completed ePSFBy: • May 10For May Payroll/Summer Pay • June 15 For June Payroll/Summer Pay
Payroll Update TIME DOCUMENTS: - TIME EDITOR WILL BE AVAILABLE FROM 8 AMMay 31 Through 5PMJune 1 8 AMJune 14 Through 5PMJune 15 OFF CYCLE CHECK REQUESTS - For BiWeekly Period Ending 6/13/2012 requests Due in Payroll Friday, June 8 by 12:00 Noon - Final off-cycle check requests for the Fiscal year is Due in Payroll Monday, June 25 by 12:00 Noon
Biweekly Salary Accrual • The accrual for biweekly wages earned in June but not paid until July will include 12 days. Period Ending 06/29/2012 – 10 days Period Ending 07/11/12 – 2 days (June 28-29) ***Tech temp and student wages are not accrued