CI Financial Reports: Stage 1 Reports Release Chief ... · Stage 1, Aug 2014 4 Reports 10 Stage 2,...
Transcript of CI Financial Reports: Stage 1 Reports Release Chief ... · Stage 1, Aug 2014 4 Reports 10 Stage 2,...
Chief Investigator Briefing Session Guide
Chief Investigator Financial Reporting Project
CI Financial Reports: Stage 1 Reports Release
Stage 1 Chief Investigator Financial Reports
Welcome
2CI Financial Reports Briefing Session
Agenda
• Welcome
• Purpose of the CI Financial Reports
• How were the Reports developed?
• Stepping through the Reports?
• How do we receive the Reports?
• Where do we go for assistance?
• What’s next?
• Questions and Close
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Stage 1 Chief Investigator Financial Reports
Purpose of the CI Financial Reports
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CIFR Project was initiated to develop research
project financial reports that …
Meet Chief Investigator requirements
Clear and intuitive structure
Facilitate CI ability to assess / monitor financial health of a project
Highlight critical financial situations
Reduce academic and professional staff report interpretation, administration time
Consistent (and University wide) approach to research project financial reporting
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Stage 1 Chief Investigator Financial Reports
How were the Reports developed?
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How were the CIFRs developed?
1. Chief Investigator (CI) Reference Group established
• Comprises 12 Chief Investigators
− represent all Colleges
− have research projects that vary in financial complexity
− manage a varied number of research projects, 1 to 15 projects
− have different levels of financial proficiency
• Reference Group purpose: to develop the reports that meet Chief
Investigators’ needs
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How were the CIFRs developed?
2. Report Design Approach
• Reference Group invited to use a green field approach in report
design i.e. ignore any financial system limitations /constraints
• Chief Investigator requirements were defined and agreed by the
Reference Group in meetings and workshops
• Financial Reports were designed based on user requirements
(assisting the Reference Group in the design: Service Improvement
Group, Finance and Business Services, Research Accounting,
Performance Planning and Measurement and Research Services
Division)
• CI Reference Group held workshops and meetings to review and
amend several report iterations
• Final design approved by CI Reference Group
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How were the Reports developed?
3. Other Stakeholder Feedback
• Chief Investigator Control Group established
• 7 CIs not involved with the project reviewed the reports and provided
feedback
• The CIs from the Control Group confirmed the Chief Investigator
Reference Group approach and favoured the reports
• College Finance Managers and School Managers provided feedback in
workshop sessions and meetings
4. Report Build and Deployment
• Reports have been tested by; Chief Investigators from the CI Reference
Group, Finance Systems Analysts, Research Accounting and College
Finance
• Reports are emailed directly to CIs or access is provided by the ANU
Insight which is the ANU Information Management Intelligence System
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Stages Report Development and Release
Stage 1, Aug 2014
4 Reports
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Stage 2, mid 2015
4 Reports updated
6 Reports new
CI Portfolio Financial Summary
Subproject Financial Summary
Project Life Budget Class Summary
Transaction Report
CI Project Portfolio Funds Financial Year
CI Project Portfolio Income Schedule
Project Budget by Financial Year
Project Budget by Project Year
Project Salaries & Cost by Financial Year
Project Salaries & Cost by Project Year
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Stage 1 Chief Investigator Financial Reports
Stepping through the Reports
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Chief Investigator Portfolio Financial Summary
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• Contains a list all projects and
subprojects held by Chief Investigator in
the Chief Investigator’s name
• Provides summary financial information
from the start of the project to the
current financial period
• Shows funds available now – Current
Available Funds – based on income to
date minus expense and commitments
• Shows funds available based on total
grant funds, – Projected Available
Funds – based on the original funds
awarded minus expense and
commitments. Note salary commitments
only include up to 31 December for the
current financial year
This report is only sent to the owner of the
grant – the researcher nominated as the
Chief Investigator/ Primary Investigator
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CI
Identification
Project
Identification
Plain
English
The Bottom
Line
GLC: Project
unique
identification code
Donor Reference Number:
The reference number used
by the funds provider to
identify the grant in their
records
Project Start
Date: Original
commencement
date of the
project
Original Funds
Awarded: The original
grant amount awarded
by the funds provider
Income to be
Received: Income
still outstanding, to
be received
Income Received to Date:
Income received and credited
to the project account as at the
date of the report
Expenses Paid to
Date: Expenses
incurred in the project up
to the date of the report
Commitments: An established commitment (also known
as encumbrances) such as salary encumbrances for the
year (ending Dec 31) and/ or purchase orders that will be
incurred in the future. Also includes manual commitments
such as collaborators/ external researcher payments.
Projected Available Funds: Projected funds remaining
when all expenses paid and commitments are subtracted
from Original Funds Awarded (Calculation: Original Funds
Awarded minus Expenses Paid to Date plus Commitments)
Current Available Funds:
Current funds available based
on income received to date
(Calculation: Income Received
to Date minus Expenses Paid
to Date plus Commitments)
Project End Date:
Completion date of
the project
ARIES ID: ARIES
project identification
number
Project Name:
project descriptive
name
Initial Expense
Allocation: Project
expenditure budget
when original funds
were awarded
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Report as at Date - The end date at
which financial information is provided,
accounting period end date.
Negative Values – a zero $ figure appears in the
Original Funds Awarded column if there is no Original
Funds Awarded (i.e. budget) in the finance system
and results in a negative Income to be Received
figure and negative Projected Available Funds
figure
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The Total – The summation
of all the project and
subproject accounts for which
a Chief Investigator has
responsibility
Disclaimer
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Calculation reference –
These letters show how the
calculations have been
derived
Subproject Financial Summary
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• Structured in the same way as the Portfolio Financial Summary Report except that the
CI owner of project and subprojects is identified. These can be different CIs
• Lists the main project account, and all subprojects that collectively make up one
project.
• Provides summary financial information from the start of the project or subproject to
the current financial period.
Project
Identification
CI Name Project Total Same as Portfolio
Financial Summary
Report
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Project Life Financial Summary Budget Class
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• Provides financial information broken
down into budget categories.
• Provides a summary of income and
expense from the start of the project to the
current financial period.
• Divided into 4 sections:
− Project Identification
− Quick reference showing: the current
financial status of the project, % of
funds spent, and Current and Projected
Available Funds at this point in time
(end of a financial period)
− Income by budget category
− Expenses and Commitments in budget
categories
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Project
IdentificationQuick
Reference
Income
Expense
Remaining
Funds
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Project Transactions
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• Lists project transactions for the current
period, and project commitments for the
whole project.
• Provides a description of the transactions
(income or expense) and relevant budget
class.
• The report has 4 sections;
− Project Identification
− Quick reference showing, for, the
current period: opening balance,
income and expense transactions, and
closing balance.
− Transactions this period
− All commitments for the life of the
project except for salary commitments,
which only extend to 31 Dec of the year.
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Transactions
Project and CI
IdentificationQuick Reference – Current
position, Income transactions,
Expenses transactions,
remaining position
GLC
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Transaction
Total
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Commitments
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Total
Commitments
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Stage 1 Chief Investigator Financial Reports
How do we receive the Reports?
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How do we receive the reports?
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All emailed
Reports are in
PDF Format
Accessing Reports via link
in Email to Insight system
Reports can be downloaded
as PDF or Excel
Logging directly into
Insight system
Step by step guides in
how to access each
report are provided
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Report Packages
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Portfolio report pack
User guide: Step by Step – Portfolio Report
1. Portfolio Report Pack • Is emailed to all Chief Investigators
• Includes:
the Chief Investigator Portfolio
Financial Summary
• Has a link to the Insight System that
takes Chief Investigators directly to
their reports
• Reports can be produced in Excel
and downloaded
• CIs can access previous financial
period reports via the Insight System
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Report Packages
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2. Project Report Pack • Is emailed to all Chief Investigators
with 4 or less projects
• Includes:
the Project Life Budget Class
Financial Summary Report
Project Transaction Report
• Chief Investigators with 5 or more
projects will need to access their
reports via the Insight link provided
in the Portfolio Report Pack email
Project report pack
User guide: Step by Step – Project Report
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Report Packages
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3. Subproject Report Pack • Is emailed to all Chief Investigators
with 4 or less projects
• Includes:
Subproject Financial Summary
Report
Project Life Budget Class
Financial Summary Report
Project Transaction Report
• Chief Investigators with 5 or more
projects will need to access their
reports via the Insight link provided
in the Portfolio Report Pack email
Subproject report pack
User guide: Step by Step – Subproject Report
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How To Access and Run Reports In Insight Portal
The following Access and Navigate instruction Guides are provided
• How to log into ANU Insight Portal
• How to Navigate the ANU Insight Portal
• How to run a report in the ANU Insight Portal
A number of Step By Step Guides have been produced that provide instruction on how to access CI Financial Reports
• Step by Step – Portfolio Report
• Step by Step – Project Report
• Step by Step – Subproject Report
These are available in the CI Financial Reporting webpage at http://unistats.anu.edu.au/anu-insight/reports/ci-financial
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Accessing Reports - Overview
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When you first access the portal you will be directed to the ANU Insight portal home
page as shown below:
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When the Financial category is clicked, you get the sub-categories as shown below,
which also contains the CI Reporting tab:
Left click once on the Financial Menu Header
This would then open and display the Financial sub menu:
To access the reports, the user then selects the sub menu category by left clicking once. For
example, to access CI Reporting this would mean clicking on the CI Reporting sub menu
option.
This would then access the Chief Investigator Reporting page.
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CI Reporting Page
The CI Reporting Page provides a
list of reports which can be accessed
and run in the portal.
If you hover your mouse over the
report a description of the report will
display
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Run a report
The Portfolio report pack can be seen at the top of the Reports list
on the left hand side of the screen.
To run the Portfolio report left click once on the report name.
The first thing which will run is the Portfolio Report Prompt page.
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The Portfolio report is run for an individual Chief Investigator for a
specific financial period. Therefore a user must tell the report which
Chief Investigator and which financial period to run the report for. The
prompt page is used to do this.
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• Most Chief Investigators will know their own User ID and should select this option. You can select
an option by left click once in the radio button (circle) next to the option you would like to choose.
If you do, you will be asked on the next screen to enter your ID as shown below:
• The second option a user needs to select on the first page is which financial period to run the
report for.
o If a user selects the current period, the report will automatically run for the latest period without
the need for further selection.
o If a user wants to run the report for a period other than the current period, the user needs to
select the Other Periods option.
o If the other periods option is selected the user will be presented on the next prompt page with
Two drop down menus as shown below
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• After you press Finish you will see a report is running
dialog box as shown following:
• Once the system has retrieved the data, the Portfolio
Report will be displayed.
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Important
The Finish button must be pressed before a report can be run and will
remain greyed out until all required prompts have valid values selected.
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Stage 1 Chief Investigator Financial Reports
Where do we go for assistance?
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Getting Assistance
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Getting Assistance
Computer Based Training
Briefing sessions for new CI and professional staffCI Financial Reports Briefing Sessions
HORUS online training:
https://horus.anu.edu.au/psp/sscsprod/EMPLOYEE/HRMS/
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Course Code Course Session Nbr Course Start Date Course End Date Room
FBS067 0001 26/09/2014 26/09/2014 McDonald Room
FBS067 0002 09/10/2014 09/10/2014 McDonald Room
FBS067 0003 05/11/2014 05/11/2014 McDonald Room
FBS067 0004 10/12/2014 10/12/2014 McDonald Room
FBS067 0005 10/02/2015 10/02/2015 TBA
FBS067 0006 12/03/2015 12/03/2015 TBA
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Stage 1 Chief Investigator Financial Reports
What’s next?
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What’s next?
• Finance and Business Services are enhancing the current financial
systems to provide extended years budgeting and forecasting.
• TM1 - Development of project based budgeting (5 years) and forecasting
capability (10 years)
• This will enable the development of the remaining CI Financial Reports in
Stage 2
Stage 2 CI Financial Reports
• Release in 2015
• Consultation and Review
• Develop and Deliver Reports
• Retire FMRs
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Stage 1 Chief Investigator Financial Reports
Questions and Close
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Questions
We welcome your feedback
You can either provide it to us or email any feedback
or suggestions to the CI Financial Report Webpage :
Thank you
CI Financial Reports Briefing Session