Financials

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Financials

  1. 1. Financial Information System (FIS) http://laser.k-state.edu More than FRS
  2. 2. Financial Information System (FIS) Presented by Kansas State University Controller’s Office
  3. 3. FIS Training Coordinator Ron Semarge
  4. 4. Session Objectives To provide you a beginning towards understanding The basic structure of our upcoming Financial Information System The basic structure of the new Chart of Accounts and how it functions within FIS Changes in methodology of inputs to the FIS Primary outputs (forms, reports)
  5. 5. Welcome to FIS Training • General Ledger – Chart of Accounts – Budget – Payroll – CASHNet (receipts) and eForms (expenditures) – Reports • Purchasing • Fixed Assets • Projects / Awards (Grants) • Future Training
  6. 6. System Complexity •FIS is far more complex, but more dynamic, than the current FRS system. •Transactions flow through multiple modules •User training is critical and will be required to fully utilize the system
  7. 7. Background Current hardware based on IBM mainframe – Old technology – Expensive to maintain (Maintenance and repair parts)
  8. 8. Background New System is Oracle Based - Very Robust, Modular System - Web based access – Enhanced ability to encumber funds - Enhanced capabilities and future growth – Enhanced ad-hoc reporting with access to University Wide data
  9. 9. Project Leaders for FIS Jennifer Gehrt – Director - Laser Project Bryan Kraus – FIS Functional Lead Mark Grinter – FIS Technical Lead
  10. 10. And many many more are involved
  11. 11. When are we doing this? Being done in several phases
  12. 12. Timeframe? • Two Phases • Phase 1 – three internal portions – Discovery and Analysis (Jan 03 – Aug 04) – Testing and Analysis (Aug 04 – Mar 05) – Fine tune and Final Setup (Mar 05 – Jun 05)
  13. 13. Timeframe? • Phase I Objectives – Focus on critical business processes involving basic input and reporting – Exploration of modules for functionality and applicability – Develop and test internal processes and procedures – Develop training and methodology for conducting same
  14. 14. Timeframe? • Implementation – 1 July 2005 – Budget and Payroll a bit earlier
  15. 15. Timeframe? • Phase II Objectives – Continue to enhance input / query and reporting capabilities – Further fine-tuning of GL – Further exploration of Projects and Purchasing modules – To provide departments with greater ability to utilize FIS for their unique financial accounting needs
  16. 16. Timeframe? • Maintenance / Enhancement – Long term – Incremental enhancements to hardware and software
  17. 17. FRS Module Overview Two modules Accounts Payable (AP) Financial Accounting Interfaces with local programs PARS (Labor Distribution) Central Invoicing (Accounts Receivable) Fixed Assets
  18. 18. FRS Module Overview Other software interfaces with FRS  CASHNet – Receipts  HRIS (PeopleSoft) Payroll  Budgets (PeopleSoft)  BRS  eForms
  19. 19. FIS Module Overview Different Modules for different financial functions Projects / Awards (Grants) General Ledger (GL) Accounts Payable (AP) Accounts Receivable (AR) Labor Distribution (LD) Purchasing (Purch) Fixed Assets (FA)
  20. 20. FIS System Overview Other software interfaces with FIS Modules  CASHNet – Receipts  HRIS (PeopleSoft) Payroll  Budgets (PeopleSoft)  BRS  eForms
  21. 21. FIS Modules • General Ledger (GL) – core module of the system – all reporting (except grants) is based on information contained in the GL • Projects/Grants Accounting – Provides activity-based accounting with additional functionality to meet grant accounting needs – Initial focus will be Grant accounting • Accounts Payable (AP) – Processor for vendor and inter-departmental payments
  22. 22. FIS Modules • Accounts Receivable (AR) – Initial focus will be Grants Billing • Labor Distribution (LD) – Detailed payroll transactions will be interfaced to FIS through this module – Includes functionality for Effort Reporting (Grants) • Fixed Assets (FA) – Manage the University’s capital asset records
  23. 23. Changes to Account String
  24. 24. Current FRS Structure •6 character accounts (General and Sub-Ledger) •Numerous attributes associated with account (done behind the scenes) •Starting and ending digits carry various meanings •Example •267842 •Beginning 2 – indicates State appropriation as opposed to Restricted Fee •Ending 2 – indicates Unclassified Salary
  25. 25. Upcoming FIS Account Structure Multi-Segment account structure General Ledger Account Structure Project Source (Index) Organization (Department) Object Code NUCO481003 2080 05040 E2690
  26. 26. General Ledger Account Structure Project Source (Index) Organization (Department) Object Code NUCO481003 2080 05040 E2690 Project •Program, project or activity •Links to the Awards/Projects module •Future item: Task – allows for further breakdown of a project into task and subtask (initial implementation will have this default to 01 or 02.)
  27. 27. Project Segment •Project is 10 Characters •1st character notes Grant/Non-Grant/Matching •2-4 contains Organization (Department) Alpha •5-10 characters are alphanumeric, determined by the individual department •Examples (Spaces for instructional use only) •N UCO 481003 •G UCO 00MISC
  28. 28. Project Segment • The Controller’s Office staff is working with colleges to establish Project numbers for conversion from FRS to FIS • An eForms document will be created for departments to use to request a new Project
  29. 29. General Ledger Account Structure Project Source (Index) Organization (Department) Object Code NUCO481003 2080 05040 E2690 Source (Index) •A funding source designated by the state •Ex. General use, Restricted fees, Sponsored Research Overhead (SRO), etc.
  30. 30. General Ledger Account Structure Project Source (Index) Organization (Department) Object Code NUCO481003 2080 05040 E2690 Organization (Department) •Core departments within the University
  31. 31. General Ledger Account Structure Project Source (Index) Organization (Department) Object Code NUCO481003 2080 05040 E2690 Object Code (Object) •Assets, liabilities, fund balance, revenue, expense, budget •1st character defines type •E (Expense) A (Assets) •R (Revenue) L (Liabilities) •B (Budget) F (Fund Balance)
  32. 32. Benefit of Multi-Segment Structure • Multi-segment GL account structure will provide enhanced reporting and access to information
  33. 33. Budget Budgets will continue to interface from the budget system Budgets will interface for these funds: State General Fund General Fees Federal Appropriations Interest Fund Allocated Sponsor Research Overhead funds Institutional Support Fee funds
  34. 34. Budget Account code combination will interface from Budget Project Fund Source (index) Organization (budget department) Object (budget pools)
  35. 35. Budget Revenue budget will be posted to allocated GL accounts (project/source (index)/organization) equivalent to central expense budget allocations Revenue (cash) will be posted to allocated GL accounts equivalent to central expense budget allocations
  36. 36. Budget Restricted Use budgets are not required and therefore will not interface from the budget system  Cash, rather than budget, will be used to determine available balances  Users may choose to submit budgets for restricted use accounts and non-allocated budget accounts. Allows for budget view of data
  37. 37. Budget There will be minimum change to the budget system On-line (budget system) data entry panel (Feb 05) Replace 6-digit FRS account with 10-digit Project segment PCA will default from the Project segment Source (index) will need to be entered and the fund will default from index Organization will default from the budget department Changes effective with budget first proof (Feb-Mar 05)
  38. 38. Funding Line screen in the KSU Budget System NOAAFACSAL NOBO381273 Project field added FRS # will appear for one year
  39. 39. Funding Line screen in the KSU Budget System Fund index (source) will PCA will default from project be entered Fund will default from index
  40. 40. Budget The following budget pools will be used in the General Ledger Module B0100 – Revenue budget B1000 – Classified salaries and benefits B1100 – Unclassified salaries and benefits B1200 – Student salaries and benefits B2000 – Other Operating Expenditures Revenue and expenditures will roll to the appropriate pool to calculate budget balances
  41. 41. Budget Main Campus General Use (GU) unclassified fringe benefits will continue to be pooled Budget will be transferred to the appropriate project each pay period to equal unclassified benefit expense (no change from current process)
  42. 42. Budget Budget Transfers Transfers will be processed utilizing eForms input Future item: Transfers will be completed on-line as workflow is developed in FIS
  43. 43. Budget Year-End Follow current processes General use budget pools will be zeroed at year-end Budget Office will transfer any carry forward funds the following July as directed by the unit head Allocated SRO and institutional support fee fund balances will carry forward
  44. 44. • “Budget” report reflects budget balance available
  45. 45. Budget Flow
  46. 46. Payroll Funding Interface Chart of accounts will continue to interface daily from FIS to HRIS – Updated at the beginning of the new fiscal year (no change from current process) – Updated daily from FIS to reflect changes (no change from current process)
  47. 47. HRIS Payroll Funding Levels Payroll funding within the HRIS system will remain at the department, position or position pool level (No change from current process)
  48. 48. HRIS Payroll Funding Pages Earnings – Deductions - Taxes • Minimum change to the HRIS funding distribution pages – Will occur mid - June 2005 (FY06 payroll funding) – Replace FRS account # with Project • Award will default from project number – Enter fund source (same funding flexibility) – Organization will default from position
  49. 49. Grants - award will default from project Enter fund source Earnings Earnings Enter project/task # Enter fund source
  50. 50. HRIS Retroactive Funding Changes • In the future, process may become more automated
  51. 51. Interface from HRIS to FIS • Daily updates contain detailed transaction information (position data, job data, job codes, department codes, etc.). • Detailed payroll expenses at the employee level – Labor distribution – Project Accounting • Summarized for the General Ledger
  52. 52. HRIS Payroll Flow
  53. 53. User Inputs to System • CASHNet – Receipts and expenditure of funds (money) • eForms – Payables and other users as present
  54. 54. CASHNet ® • Web-Based Commercial Application • With exception of Grants/Award, departments will use to receipt monies • Grants/Awards will continue to be handled by Sponsored Projects (SPA)
  55. 55. CASHNet ® • Minor changes in actual deposit screen to reflect new FIS Account structure
  56. 56. Individual fields for each element. While still being developed and tested with the vendor, the order and length of several fields will be adjusted to match FIS structure.
  57. 57. CASHNet® Flow
  58. 58. 10 Minute Break
  59. 59. eForms Purchase Order, Payables and Budget • No change in use from current procedures – Web-based – .pdf format (Acrobat reader still required to render final forms and to print forms) • Will use eID for authentication while still continuing to use Position Number for document access (i.e. Documents are tied to position, not the person)
  60. 60. eForms Purchase Order, Payables and Budget Document Header
  61. 61. eForms Purchase Order, Payables and Budget • Becoming two (2) distinct forms – Purchase Order – Agency Payment Voucher – Other minimal changes in the heading section
  62. 62. eForms Purchase Order, Payables and Budget Example of Payment Voucher Header
  63. 63. eForms Purchase Order, Payables and Budget • Other minor changes in heading – – – – Document numbering will be restarted Agency and Div. No. boxes are being removed ‘APO No.’ renamed to ‘User No.’ ‘Tran Date’ renamed to ‘Remit date’
  64. 64. eForms Purchase Order, Payables and Budget Vendor and Purchaser Information Section
  65. 65. eForms Purchase Order, Payables and Budget • Minor changes – Vendor Number being changed to provide improved personal security – Account numbers to bring in-line with FIS
  66. 66. eForms Purchase Order, Payables and Budget • There are no changes to this portion for ‘Purchase Orders’ • For Payment Vouchers this section is being considered for use as a ‘Remittance data’ field
  67. 67. eForms Purchase Order, Payables and Budget Funding Information Section
  68. 68. eForms Purchase Order, Payables and Budget • FIS required changes here – For non-grant projects, enter a Source, for grant projects, enter an Award number – Completion of this portion drives the autofill described in the next slide – Invoice number – This column was removed – information will be captured from the description
  69. 69. eForms Purchase Order, Payables and Budget • Minor changes Autofilled – Still in design – Autofill capabilities remain as done today – Change in column order, heading titles and removal of unused or redundant columns
  70. 70. eForms Purchase Order, Payables and Budget Description section has no format changes *Future Item: The ‘Date & Inv No.’ will be captured in eForms for use in future enhancements.
  71. 71. eForms Purchase Order, Payables and Budget • Signatures and Footnote Section – Minor modifications to textual comments to reflect new Tax Exempt Certificate number and other minor textual changes – Comments will be applicable to the specific form
  72. 72. eForms Flow
  73. 73. Non-Grant Reports
  74. 74. • View of assets and liabilities • “Account Balance” reflects balance available
  75. 75. • View of revenues and expenses for the fiscal year
  76. 76. • Similar layout to FRS month end transaction detail
  77. 77. • Similar view to FRS open commitment listing
  78. 78. Purchasing A new Purchase Order form is being developed in eForms to differentiate from Payables document  to reflect the new multi-segment FIS account structure. New capability to commit funds in the system regardless of bid requirements Year-end encumbrance process (DA-118) will be handled through eForms (using multi-segment account)
  79. 79. Purchasing Purchasing Policies as reflected in PPM 6310 will not change Procedures concerning BPC, Real Estate Leases, Contract Cover sheets, etc. remain the same. Purchase Requisitions will continue to be submitted following current procedures using eForms
  80. 80. Fixed Assets • Changes – The physical appearance of the reports will change – Departments will have on-line inquiry access to their fixed asset records
  81. 81. Fixed Assets • Policies will remain the same – PPM 6510, Property Inventory, still applies • Disposition, transfer and gifting of property procedures are unchanged • Capitalization thresholds are unchanged • Departmental inventory records for items not meeting the University’s capitalization threshold are still required
  82. 82. Fixed Assets • Procedures will remain the same – Monthly inventory reports will continue to be sent to departments showing the capital expenditures made during the month – Departments will need to continue to supply the additional information regarding the asset purchased, sign and return the report to the Controller’s Office – Property number system will continue to be available for departments to assign their own property numbers
  83. 83. Fixed Assets • Procedures (Cont’d) – Continue to centrally update the Fixed Asset system and return a report to the department of the month’s additions. – Departments will need to continue to do an annual physical inventory and certification as of December 31.
  84. 84. Grants
  85. 85. Grants Accounting Module • This module is dependent on the Projects Module for much of the functionality - Each award established in the grants module will also have at least one project number assigned - Some awards may have multiple project numbers - i.e. awards that have multiple subawards Grants 1
  86. 86. Grants Accounting Module • Grant budgets are established through the Projects module, not in the General Ledger module – The total award amount (budget) may be funded via one project number, or multiple project numbers Grants 2
  87. 87. Grants Accounting Module • All award/project accounts will be set up in the system by the Sponsored Projects Accounting (SPA) office – Six-digit Award numbers will be assigned by SPA – Colleges/departments may determine the last sixdigits of the 10-digit project number. For initial conversion, current FRS numbers will be used for the last six digits – When applicable, additional project numbers for subawards, etc. will be determined by SPA. Grants 3
  88. 88. Grants Accounting Module • Examples of Project/Award combinations: – Initial conversion: • – Current FRS 530706 will consist of both a Project Number and an Award Number – Project number: GOPY530706 » last six digits are the current FRS account number – Award number: 000001 A crosswalk from FRS numbers to FIS Project/ Award numbers will be provided for users
  89. 89. Grants Accounting Module • Examples of Project/Award combinations: – After conversion: • Project number: GOPYSREB01 – last six digits are determined by the department or college. Here they include a combination of letters (from the P.I.’s name) and numbers to create a unique number • Award number: 000002 – Project numbers and award numbers cannot be reused once the award has ended and is closed
  90. 90. Grants Accounting Module • Basic business processes for invoicing and for preparing financial reports will remain essentially the same from the college/department perspective. • Custom reports and views are being developed for grants accounting similar to those shown for non-grant accounts. • Users may also use the Award Status Inquiry option available in FIS for viewing the award online Grants 4
  91. 91. Grants Accounting Module • The Award Status Inquiry view allows for easy viewing of various award details
  92. 92. Grants Accounting Module The Award Inquiry button takes you to a view of basic award information such as titles, dates, sponsor name
  93. 93. Grants Accounting Module •Both the Project Funding button and the Funding Summary button will take you to a view of project number(s) and funding information
  94. 94. Grants Accounting Module Project Funding: An award with multiple project numbers: Grants 9
  95. 95. Grants Accounting Module Funding Summary of the same award: Grants 10
  96. 96. Grants Accounting Module Funding Summary: an award with one project number Grants 11
  97. 97. • Start, End, and Close Dates are used by the system to control what expenditures may be posted to the award. – Expenditures dated after the End Date (or before the Start Date) will not post to the award – NO expenditures will post to the award after the Close Date. To comply with federal guidelines, this date should be 90 days after the end date. Grants 6
  98. 98. Grants Accounting Module • The Resource Status button allows you to view budget details – The budget categories or “resources” are the same as those currently used in FRS Grants 12
  99. 99. Grants Accounting Module Resource Status for an award with one project number: Grants 13
  100. 100. Grants Accounting Module • • Grants 14 The Actuals button allows you to view expenditures posted to the award You can choose to limit the view by designating one or a combination of – A range of expenditure dates – An organization – An expenditure type
  101. 101. Actuals for an award with one project number Grants 15
  102. 102. Grants Accounting Module • The Invoice Review button allows you to see a list of invoices sent to the sponsor. Details such as amount, sponsor name and bill-through date are available Grants 16
  103. 103. Grants Accounting Module An Invoice Lines button allows you to view the invoiced amounts by resource (budget pool) categories Grants 17
  104. 104. Grants Accounting Module Invoice lines by resource (budget pool): Grants 18
  105. 105. Training • Overview – January through February • Hands-On – March through June – Required prior to getting system access • Continual Training – Refresher, new employee – New functionality • On-Line Sign up via ITAC web site
  106. 106. Website and Email Addresses Laser Web Site: http://laser.k-state.edu Newsletter: http://laser.k-state.edu/newsletter/home.htm Email address for questions: laser@ksu.edu ITAC Web Site for Class Enrollment: http://main.itac.ksu.edu/training/calendar.htm
  107. 107. Now switching gears
  108. 108. Dealing with Change
  109. 109. What might the elements of the parable (metaphor) represent? The maze? Dealing with Change The cheese? The characters?
  110. 110. What attitudes or beliefs about change did each of the characters hold? Dealing with Change
  111. 111. Which of the four characters do you identify with? Why? HEM SCURRY HAW Dealing with Change SNIFF
  112. 112. Are people typically proactive or reactive to change? Dealing with Change
  113. 113. Do you feel that you can adapt to these latest changes? What do you need to be more comfortable? Dealing with Change
  114. 114. “Most change—whether you realize it at the time or not—leads to something better.” -Spencer Johnson, M.D., author Dealing with Change
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