CFS User Group Year-End Close Kick-Off Meeting · 2020-05-13 · U2-Special Projects CF20U2xx...

CFS User Group Year-End Close Kick-Off

Meeting FY19/20

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About this Meeting

Agenda

• Introduction – Sylvia Piao

University Controller

• Payroll Deadline - Agnes Y Cheng

Associate Director, Payroll Services, Human Resources

• Auxiliary Accounting Deadline – Tammie Ridgell

Associate Vice President, Auxiliary Business Services, University Corporation

• Accounts Payable Deadline – David T Chelliah

Accounts Payable and Fiscal Services Manager

• Budget Deadline - Elena Stoian

Executive Director of Budget & Operations

• Government Fund Accounting – Gloria Tseung

Associate Controller

• Trust Fund Accounting - Cathy Liu

Associate Controller

• Financial Reporting & Audit – Yessica Gonzalez Associate Director of Financial Reporting

• Procurement Deadline – Rabea Woerthwein-Mack

Director of Procurement

• Bursar’s Deadline – Jackie Green

University Bursar

• FY19/20 year-end close

• Process transactions in timely manner

• COVID-19 financial impact tracking• Project IDs

96221919: COVID-19 expenses

96221920: COVID-19 revenue loss

OR

• Class codes 11919: COVID-19 expenses

11920: COVID-19 revenue loss

Introduction

PayrollFY 2019 / 20 Payroll Year-End Important Dates

Agnes Cheng

Payroll Related - Year-End deadline

All ETRAC transactions must be at HR level no later than Friday, June 12th.

All Payroll related transactions, and retro payment request for Faculty, Staff, Students,Work-Study, Overtime, Shift-Differential and all Hourly employees must be submitted byFriday, June 12th.

Special Consultant ETRAC transactions & time sheets, and Honorarium Request Formsmust be submitted to HR by Friday, June 12th.

June 2020 payroll for Student Assistants, Work-Study and all other hourly payrolls will becharged against FY 2020/21.

AuxiliaryFY 2019 / 20 Year-End Important Dates

Tammie Ridgell

UCORP – IMPORTANT DATES

Date Action ItemJune 5 Last day to enter online requisitions in CFS for FY 19/20.

Please review all open requisitions and close those requisitions which are no longer valid.

June 12 Last day to request Account Adjustments for transactions posted before May 29, 2020.

June 18 All travel Advance/Requests settled by this date.

June 18 All Signed Outstanding Invoices to be paid must be submitted by this date (goods or services must be received and/or completed no later than June 30, 2020).

Last date to submit signed Check Requisition and Travel Claim forms and Personal Service Contracts.

June 18 Last date to settle Petty Cash Requests; no Petty Cash will be distributed after this date until the new Fiscal Year.

June 18 Return completed Purchase Order Closing List by this date.

UCORP – IMPORTANT DATES

P-Card CardThe statement cycle for May/June 2020 ends on June 20th. All transactions posted on or before June 20th will be charged to the current FY 2019/20. Please plan your purchases accordingly as any transactions posted on or AFTER June 21st will be charged to the new FY 2019/20.

Date Action Item

June 18 Final date to submit invoices for payments against existing purchase orders for the FY 2019 – 2020. After this date:Submit a list of goods or services received by this date that have not been invoiced or paid. Please provide a Packing Slip or Contract for the list of goods or services to substantiate accruals for Fiscal Year 19/20 – any Purchase Orders for items or services that do not meet these qualifications will be closed at 5:00 pm.

June 29 Last day to make UCorp deposits at 12pm for FY 19-20.

July 2 Resume A/P processing for the new fiscal year.

July 2 Payroll worksheet for Payroll accruals must be submitted by this date.

UCORP – IMPORTANT DATES

• Please settle all petty cash and travel claims by June 18, 2020.  

• All pending RRT  and salary reimbursements should be submitted by May 15, 2020 related to FY 2019‐2020.

• Please refer to the procedure for disposal or transfer of fixed assets on the UCorp website: 

http://ucorp.sfsu.edu/fixed‐asset‐procedure#inventory reconciliations to financial records

• A Fixed Asset Disposition must be completed for all broken or no longer useful equipment.  Also use this 

form for lost or stolen equipment.

• If Assets have been moved to different locations please use the Fixed Asset Relocation Form.

• UCorp planning a physical inventory of Fixed Assets for Fiscal Year 2019‐2020 – TBD summer 2020.

• Invoices from SFSU

• Please make every effort to approve and forward invoices to UCorp for SFSU invoices being paid for with 

UCorp funds by June 15, 2020.

Accounts Payable FY 2019 / 20 Year-End Important Dates

David T Chelliah

AP – IMPORTANT DATES

DEADLINE ACTION ITEM

June 22 Last day to submit Travel & Hospitality and Business Expense Reimbursements.

June 22 Last day to submit FY 19/20 allowable direct payment requests/invoices to Accounts Payable.

June 22 Procurement Card / Department Travel Card purchases posted on or after June 23rd will be charged to FY 20/21.

Budget Administration & Operations FY 2019–20 Budget Year-End Instructions

Carry-forward & Action Items

Elena Stoian

BUDGET YEAR-END DEADLINES

TRANSACTIONS DATE ADDITIONAL INFO

Budget Transfers (BTR) Friday, June 5th,2020

No additional requests for deadlineextension will be taken in consideration.

Labor Cost Distribution Adjustments (LCD) Friday, June 5th,2020

Preliminary Annual CFW & Campus Reserve Plan Friday, June 12th, 2020

BUDGET YEAR-END DEADLINESTRANSACTIONS DATE

BAO reports the NR401 balance on the CFW by project IDs Friday, July 10th, 2020

BAO reports the newly CFW balance in fund NG001, NG025 and NR101 Friday, July 10th, 2020

BAO request the units to submit new CFW planning proposal Friday, July 17th, 2020

Final Annual CFW & Campus Reserve Plan Friday, July 24th, 2020

BAO will assign the new project ID for newly CFW with planning proposal Friday, July 31st, 2020

BAO will upload the CFW in CFS Friday, August 7, 2020

CFW BALANCES – REPORTING PROCESS

Year End Potential Management Decisions (President’s Cabinet):

The review and analysis of carryforward balances is primarily focused on improving information and ensuring financialdecisions, taking into account existing balances as one factor and also taking into consideration a range of managementdecisions about each unit’s carryforward balances and intended uses. Leadership might also ask for a plan to invest(spend- down) funds within a specific time period or conversely direct units to slow expenditures to build balances withina specific time period.

ICSUAM EQUITY ACCOUNTS VS CAMPUS CATEGORIES*Information Only*

Designated for Encumbrance – also called encumbrances or open commitments. It is with a purchaseorder (PO) issuance.

Outstanding Commitments1 – are planned uses of funds tied to specific commitments.

Project IDs are required to set up to record funds being used for these types of obligations in our financialsystem.

Planned Obligations1 – are tied to planned expenditures for items/purposes, but costs and timing areestimated.

Project IDs are required to set up to record funds being used for known obligations in our financial system.

Reserve – are a specific fund category recognized in the accounting system and generally used for self-supporting, auxiliary activities or campus-based student fees. Some of the popular categories: reserves forequipment and reserves for capital improvement and deferred maintenance.

1. Committed and planned obligations have been approved in writing by the appropriate decision-making authority e.g. executive management level (President, CFO, Provost, Dean, Vice Presidents or Equivalent), or as delegated by this level.

CFW BALANCES – PLANNED OBLIGATIONS2

*Information Only*Operating fund (NG001, and NR101) year end available will roll over to NR401 as a beginning carry forward balance. Theplan, commit and spend will be recorded in NR401 with project ID for a not to exceed two years spending plan.

2. Supporting documentation approved by the appropriate decision-making authority is required.3. The project ID includes: CF-carryforward, FY-Fiscal Year, Abbreviation College or division-3 letters, Last two digit number.

Notes:

OBLIGATION TYPE/DESCRIPTION FOR OTHER UNITS PROJECT ID3

U1-Temporary Appointments (contract employees) CF20U1xx

U2-Special Projects CF20U2xx

U3-Program Development CF20U3xx

U4-Equipment CF20U4xx

U5-All Others CF20U5xx

CFW BALANCES – PLANNED OBLIGATIONS*Information Only*

OBLIGATION TYPE/DESCRIPTION FOR ACADEMIC UNITS PROJECT ID

A1-Start-up funding for faculty recruitment CF20A1xx

A2-Retention funding for faculty CF20A2xx

A3-Fellowships CF20A3xx

A4-Endowed chairs CF20A4xx

A5-Temporary employee CF20A5xx

A6-All others: designate appropriate CF20A6xx

A7-Renovation CF20A7xx

CFW BALANCES – PLANNED OBLIGATIONS*Information Only*

OBLIGATION TYPE/DESCRIPTION FOR RESERVE (SELF-SUPPORT UNITS AND UNIVERSITY WIDE) PROJECT ID

Capital Improvement/Construction MCxxxxxxx*

Designated for Facilities Maintenance and Repairs DMxxxxxxx*

Designated for Future Debt Service CF20xxxx

Designated for Catastrophic Events CF20xxxx

Designated for Financial Aid CF20xxxx

Equipment CF20xxxx

Designated for Economic Uncertainties CF20xxxx

* The project Id for Capital Improvement/Construction and Designated for Facilities Maintenance & Repairs refers to the Capital Plan Instruction in the Budget Manual. Per Legal Manual Chapter 15, the Capital Improvement (CIMP) and Non-Recurring Maintenance and Repair (NRMR) have the specific CSU designated funds.

Notes:

CFW BALANCES – REPORTING SAMPLE*Information Only*

PROJECT ID DESCRIPTION CHARTFIELD 2020-21BUDGET

YTD ACTUALS ENC.

BALANCEAVAILABLE

CF20XXX1 Computer Refresh

Acct NR401 Dept

200 80 20 100

CF20XXX2 Start Up Funding

Acct NR401 Dept

250 200 50 0

Total $450 $280 $70 $100

CFW BALANCES – REPORTING SAMPLE*Information Only*

PROJECT ID DESCRIPTION CHARTFIELD 2019/20BUDGET

YTD ACTUALS ENC.

BALANCEAVAILABLE

CF19U209 Computer Refresh

Acct NR401 Dept

100 50 20 30

CF19U509 Start Up Funding

Acct NR401 Dept

50 50 0 0

Total $150 $100 $20 $30

CFW BALANCES Projects CFW balance from FY2019-20 to FY2020-21

*Information Only*

PROJECT ID DESCRIPTION CHARTFIELD COMMITMENTS

2020-21BUDGET

YTD ACTUALS ENC.

BALANCEAVAILABLE

CF19BUS01 Computer Refresh

Acct NR401 Dept

30 30 20 0 10

CF19BUS02 Start Up Funding

Acct NR401 Dept

0 0 0 0 0

Total $30 $30 $30 $0 $0

CF19BUS01 will be review at the end of FY2020‐21CF19BUS02 will be closed at the end of FY2019‐20 since project has zero balance.

CSU FUNDS REQUIRING CFW & RESERVE DESIGNATIONS CSU FUND CSU FUND DESCRIPTION PEOPLESOFT FUNDS441 Extended Education Operations TCXXX444 Campus Partners N/A452 Facility Revenue Fund-Health Facilities Fees TH202463 Instructionally Related Activities Trust TAXXX464 International Programs Trust N/A471 Parking Revenue Fund-Fines and Forfeitures TP003

472 Parking Revenue Fund Parking Fees TP021, TP022, TP024, TP025

481 Lottery Education Fund TLXXX485 CSU Operating Fund NGXXX, NRXXX531 Housing Operations and Revenues TDXXX534 Campus Union-Operations and Revenues TUXXX

FY2019-20 RISK POOL

TYPES RATE OWNER

General Liability 0.40% Fiscal

Workers’ comp 1.10%

IDL/NDI/UI 0.48%

Property (Total Insurable Value) TIV=0.05 Risk Mgmt.

AIME (Athletic Injury Medical Expense) Athletics

Automobile Liability $201.27/vehicle

California State University Risk Management Authority (CSURMA) was formed by CSU and provides several risk management programs such as Pooled Liability Programs, Pooled Worker’s Compensation Program, IDL/NDI/UI Program, Property Program, Foreign Travel, Study Abroad, Special Event and other insurance programs.

Budget website: 2019-20 Budget manual

FY2020-21 RISK POOLFY 2020-21 Estimated Amounts For Budget Planning

Budget website: 2020-21 Budget Manual

SELF SUPPORT 2020-21 EST. AMOUNTCampus Recreation 85Campus Union 54Grants & Contract 197HDCS (Housing) 487Misc. Trust 95Parking and Transportation 43Student Health Service 113College of Extended Learning 162Athletics 128Children Campus 18

Total $1,382

Thousands

University Accounting ServicesFY 2019 / 20 Year-End Important Dates

Gloria TseungCathy Liu

Yessica Gudino

ACCOUNTING – IMPORTANT DATESDEADLINE ACTION ITEMMay 15 Last day request to University Accounting Services for faculty 

released/reimbursement time invoicing to UCorp.

June 12 Last day to request CPO reimbursements from CO and other CSU campuses to University Accounting Services.

June 19 Last day to submit recharges and miscellaneous invoicing to University Accounting Services. 

*Reprographics (Copiers), postage, and telephone recharges ended at May 31st.  Recharge expenses incurred after May 31st will be posted to FY 2020/21.

June 12 Last day to submit Petty Cash vouchers to the Bursar’s Office.  Any vouchers received after June 12th will be charged to FY 2020/21.

June 19 Last day to submit journal entries and fund transfer requests to the University Accounting Services.

New Accounting DocuSign Templateshttps://fiscaff.sfsu.edu/forms‐and‐documents

Cost Recovery Fund Transfer DocuSign Template

Use to pay for goods and services provided by a campus department to another department

Service Provider – Provides goods or services to a department

Service Paying (Client) Department – Receiving goods or services from the Service Provider

Users must have a DocuSign account setup

Cost Recovery Fund Transfer DocuSign Approval Workflow

Cost Recovery Fund Transfer DocuSign Form

Cost Recovery Fund Transfer: Governmental Fund Accounting

Cecilia Hermogeno, cmh@sfsu.edu , Extension 8-2390

Trust & Special Project AccountingSofia Peng, xpeng@sfsu.edu , Extension 8-7138

Stop Payment / Check Replacement: stoppay@sfsu.edu

TRUST FUND MONITORING

Planning

• PayrollOperating Expense

• Revenue

Monitor

• Fund Balance • Cash Balance• Periodic Review

Notification

• Deficit Daily Notice

• Quarterly Trust Fund Balance Report

• Timely Communication

Action

• Follow Thru and Resolve Issues

• Deficit will be Automatically Covered per the Trust Fund Agreement Part 4b 06/28/20

ORSP SMALL GRANT CARRY FORWAD

SG101 + 69xxxxxx

Available Balance06/30/20

Request ORSP NCTE Approval by 08/15/20

Submit Revised Budget Request thru

DocuSign to Accounting 09/15/20

Carry Forward10/01/20

Application• Faculty• March

Review & Notification

• ORSP Faculty &Department• May-June

Budget Request & Booking

• Dept Budget Request: DocuSign

• By 07/15/20

SMALL GRANT PROCESS

•Adjustment Entries Request on a Timely Manner•Adjustment Entries Request on a Timely Manner

1

•Outstanding Check/Invoice between Campus & Auxiliary

•Outstanding Check/Invoice between Campus & Auxiliary2

•No Check Issued within the Same Entities

•No Check Issued within the Same Entities3

AUDITS

GAAP Financial Statement Audit

• Interim Audit

• Year-end Audit

Single Audit (A-133)

• Financial Aid – full scope

• Other Federal Programs (grants) - TBD

System-wide Revenue Bond (SRB)

• Housing, Parking, CEL, Health Facility, Student Union (including Rec. Center)

Departmental information will be needed during the audit preparation and field work.

MONTH-END CLOSE NOTICE

Month‐End Close Notification

Website: https://fiscaff.sfsu.edu/home

USEFUL INFORMATION

Account Usage Guidelines• Last updated as of April 17, 2020

Chart of Accounts

• Last updated as of March 27, 2020

Account Usage with Examples

• Last updated as of April 17, 2020

Website: http://fiscaff.sfsu.edu/forms_and_documents

YEAR-END INVOICE SEARCH

Based on prior year experience we noted: • Invoices crossing 2 fiscal years • Service period not noted on the invoices• This could lead to audit finding

GASB 87- NEW LEASE STANDARD

• Effective Date: Beginning Fiscal Year July 1, 2021 (FY 2021/2022)

• New Definition of a Lease: A contract that conveys control of the right to use another entity’s nonfinancial asset (the underlying assets) as specified in the contract for a period of time.

• Concept: Single Approach• GASB 87 establishes a single model for lease accounting on the

foundational principle that leases are financings of the right to use an underlying asset

• No more operating or capital leases

GASB 87- ACTION ITEMS

• Accounting Office is in the Research and Identification phase If you are aware of any leases in your areas please send to Financial

Reporting Team as we are gathering and will asses all leases.

• Please send your contracts/agreements to the following mailbox: leases@sfsu.edu

• If you have any questions or concerns please contact: • Yessica Gonzalez – yessicagonzalez@sfsu.edu• Jesse Shen- shen-jbshen@sfsu.edu

PROCUREMENTFY 2019 / 20 Year-End Deadlines

Rabea Woerthwein-Mack

April 15 - Last day for RFP request – Formal and Informal Request for Proposals May 1 – Last day to approve and budget-check any requisitions for purchases that include

services

May 15 - Final date to approve/budget-check requisitions for the procurement of any item/goods

May 15- Final date to submit requests in writing for account code changes, or adjustments

Don’t forget to review all prior year open purchase orders , and close orders that are no longer

active.

PROCUREMENT – IMPORTANT REMINDERS

Blanket Purchase Orders Procurement will close BPO’s by June 19th. However, keep in mind, all POs with no activity

since 7/01/18 will be closed regardless of funds.

Procurement will allow payment against closed FY19/20 blanket POs with available balance for invoices regarding services performed or goods received between May 1 and June 30, 2020. No additional paperwork is required. Procurement will issue a memo allowing for payment of such invoices by Accounts Payable.

Invoices regarding services performed or goods received July 1st or after will require new blanket POs. New blankets can be entered as of July 10.

PROCUREMENT – IMPORTANT REMINDERS

Bursar’s OfficeFY 2019 / 20 Year-End Deadlines

Jackie Green

BURSAR’S OFFICE: IMPORTANT DATES

DEADLINE ACTION ITEM

June 12 Last day to submit Petty Cash vouchers to Bursar's Office for current FY.

June 22 Last run of Financial Aid Disbursements for University, Housing and CEL Refunds in June.

June 30 Last day to submit Departmental Cash/Check Deposits for current FY – hard close 4pm

CONTACT US University Accounting: Sylvia Piao spiao@sfsu.edu Government Fund Accounting: Gloria Tseung gtseung@sfsu.edu Trust Fund Accounting: Cathy Liu cathyliu@sfsu.edu Financial Reporting: Yessica Gonzalez yessicagonzalez@sfsu.edu Budget: Elena Stoian estoian@sfsu.edu Payroll: Agnes Cheng acheng@sfsu.edu Auxiliary: Tammie Ridgell ridgell@sfsu.edu Procurement: Rabea Mack rabeawm@sfsu.edu Accounts Payable: Courtney Cheng clcheng@sfsu.edu Bursar’s Office: Jackie Green jmuncey@sfsu.edu