Divisions Divisions RecordkeepinRecordkeepin

gg…..Currently…..Currently

…..…..

Divisions Divisions RecordkeepinRecordkeepin

gg…..Currently…..Currently

…..…..

Division’s Recordkeeping…. Division’s Recordkeeping…. ….The Future …….….The Future …….

Division’s Recordkeeping…. Division’s Recordkeeping…. ….The Future …….….The Future …….

Division 1Division 1

Division 2Division 2Division 3Division 3

Division 5Division 5

Card & Check Card & Check TransactionsTransactions

Budget Budget InformationInformation

Financial Financial ReportingReporting

Document Document Storage & Storage & RetrievalRetrieval

Check Check Issuance & Issuance & DepositsDeposits

Division 4Division 4

PEF Headquarters

How Do We Get There?How Do We Get There?

PEF’s New Services Provided To DivisionsPEF’s New Services Provided To Divisions

Banking ChangesBanking ChangesPurchase Card UsePurchase Card Use

Check IssuanceCheck Issuance

Deposit serviceDeposit service

Reconciliation of Divisional Account BalancesReconciliation of Divisional Account Balances

Allow Interest To Be Earned on All Idle FundsAllow Interest To Be Earned on All Idle Funds

Financial Reporting Financial Reporting Web Reports replace the need for Journal RegistersWeb Reports replace the need for Journal Registers

Document Storage & Retrieval Document Storage & Retrieval

Banking ChangesBanking ChangesBanking ChangesBanking Changes

Banking ChangesBanking ChangesPast:Past:

AmalgamatedAmalgamatedPEF HQ accountsPEF HQ accounts

Divisions accountsDivisions accounts

SEFCUSEFCUOther PEF accountsOther PEF accounts

CheckingChecking

Savings Savings

Various banksVarious banksDivisions 2Divisions 2ndnd AccountsAccounts

Future:Future:Bank Of AmericaBank Of America

All PEF Headquarters All PEF Headquarters accountsaccounts

AllAll Divisions Divisions accounts accounts

Purchase Cards Purchase Cards

OROR

Checking+Savings Checking+Savings AccountsAccounts

Banking Change GoalsBanking Change Goals

Earn InterestEarn Interest

12/31/0612/31/06$40,000 was in interest bearing accounts$40,000 was in interest bearing accounts

Earning between 1.6% to 1.95%Earning between 1.6% to 1.95%

Future – Using the PEF Purchase Card ProgramFuture – Using the PEF Purchase Card ProgramAll Divisions will earn interest (currently approx 4.6%)All Divisions will earn interest (currently approx 4.6%)

Interest will be added to you Purchase Card balance during Interest will be added to you Purchase Card balance during the yearthe year

Note: Divisions who choose to have a checking account Note: Divisions who choose to have a checking account cannot earn this higher level of interest.cannot earn this higher level of interest.

Local bank accessibilityLocal bank accessibility

Eliminates need for 2Eliminates need for 2ndnd Accounts Accounts

..

Bank Of America Coverage Bank Of America Coverage AreasAreas

Purchase CardsPurchase CardsPurchase CardsPurchase Cards

Division Cardholder

PEF HQ Accounting

Supplier

BANK OF AMERICA

Place order

Receive goods

Paym

en

t

Req

uest

for

au

thori

zati

on

General ledger

Payment

Scheduled electronic data

How Does a Purchasing Card How Does a Purchasing Card Work? Work?

Create entrie

s

Merchant paid within 2 days of transaction

One consolidated payment to bank

Post-purchase, PEF receives a data transmission of transaction detail where default cost allocation is applied electronically and moved via an interface into PEF’s G/L .

1

2

34

The New Divisions’ Approval The New Divisions’ Approval ProcessProcess

Bank of AmericaWeb Based

Approval SoftwarePurchase

Card System

PEF’s NewWeb Reporting

System

Online Review and Online Review and ApprovalApproval

Easy Web AccessEasy Web Access

Electronic review and approvalElectronic review and approval

Email notificationsEmail notifications

Purchase Card Online SystemPurchase Card Online System

Check Processing Check Processing ServiceService

Check Processing Check Processing ServiceService

Purchase Card WorkflowP

urc

ha

se C

ard

sC

he

ck R

eq

ue

sts

Cardholder Approver AccountingReportingSystem

Card Funding

Available FundsOn Puchase

Card

Annual PerCapitas

Increases Funds

Interest Earned OnUnspent Funds

Increases Funds

PurchaseGoods /Services

Review Codingand Submit

ApproverReview /Signoff

MonthlyProcess& Close

Web BasedReports

ApproverReview /Signoff

AccountingCuts and

MailsChecks

Complete anonline

Check Request

Decreases Funds Available

Remote Deposit Remote Deposit ServiceService

Remote Deposit Remote Deposit ServiceService

How Remote Deposit Service How Remote Deposit Service worksworks

Bank of America

ARC

IRD

Image Exchange

PEF Bank Payor Bank

BenefitsBenefits

ConvenienceConvenience

Faster check deposit processingFaster check deposit processing

Faster access to fundsFaster access to funds

Faster notification of returned itemsFaster notification of returned items

Less work for Divisions to do !!!Less work for Divisions to do !!!

Information Access - Online Information Access - Online ReportingReporting

Goals:Goals:

Eliminate the need for the Quarterly Journal RegisterEliminate the need for the Quarterly Journal Register

Enable Divisions to manage effectively against their Enable Divisions to manage effectively against their budgetsbudgets

Deliver instant access to up to date information Deliver instant access to up to date information

Allow online access to scanned supporting Allow online access to scanned supporting documentationdocumentation

SolutionsSolutions

Purchase Card DashboardPurchase Card Dashboard

PEFS Secure Web Based ReportingPEFS Secure Web Based Reportingwww.PEFReports.comwww.PEFReports.com

..

Purchase Card DashboardPurchase Card Dashboard

Online Access To ReportsOnline Access To Reports

www.PEFReports.comwww.PEFReports.com

Let’s Recap….Let’s Recap…. Let’s Recap….Let’s Recap….

Recap of New Services:Recap of New Services:Use Purchase CardsUse Purchase Cards

Instead of writing checksInstead of writing checks

Earn InterestEarn InterestOn unspent moniesOn unspent monies

PEF deposits checks for youPEF deposits checks for youThrough our new Remote Deposit serviceThrough our new Remote Deposit service

PEF does your Financial ReportingPEF does your Financial ReportingYou won’t need to fill out Journal Registers any moreYou won’t need to fill out Journal Registers any more

PEF reconciles your Divisional Account BalancesPEF reconciles your Divisional Account BalancesWe will do all your account reconciliations for youWe will do all your account reconciliations for you

PEF issues paper checks for youPEF issues paper checks for you

PEF handles your document storage PEF handles your document storage We ensure your compliance with Federal and State record retention requirementsWe ensure your compliance with Federal and State record retention requirements

..

Rollout ScheduleRollout Schedule• PEF HQ Bank account changesPEF HQ Bank account changes

• May 2007 - completedMay 2007 - completed

• Purchase Card Pilot Program Purchase Card Pilot Program

• October – December 2007October – December 2007• Internal StaffInternal Staff• Selected Regional CoordinatorsSelected Regional Coordinators

• January – March 2008January – March 2008• Volunteer DivisionsVolunteer Divisions

• Divisions Conversion to Purchase Divisions Conversion to Purchase CardsCards

• April 1 2008 – Open to all DivisionsApril 1 2008 – Open to all Divisions

•