Georgia Institute of Technology Fiscal Year 2008 Year End Town Hall Meeting March 26, 2008 9am -...

Georgia Institute of TechnologyGeorgia Institute of Technology

Fiscal Year 2008 Fiscal Year 2008 Year End Town Hall MeetingYear End Town Hall Meeting

March 26, 2008March 26, 20089am - 11am9am - 11am

Student Services Building, Room 117Student Services Building, Room 117

AgendaAgenda

Opening Remarks Joel Hercik

Closeout Memo Review Carol Gibson

Business Services Update Gerald Russell & Sharon Jackson

Payroll Update Maryann Fogarty

SPD Update Robert Ellington

Questions from the Audience

Opening RemarksOpening Remarks

Joel HercikJoel Hercik

Associate VP, Financial Services

Close Out Memo ReviewClose Out Memo Review

Carol Gibson

Controller, Controller’s Office

Procurement UpdateProcurement Update

Gerald Russell Senior Contract Officer, Purchasing

Sharon JacksonAssociate Director, Business Services

Important Purchasing DeadlinesImportant Purchasing Deadlines

Follow chronological close out dates-posted Follow chronological close out dates-posted on Procurement and TechWorks web siteson Procurement and TechWorks web sites

Submit EDP to OIT Submit EDP to OIT at leastat least 5 business days 5 business days prior to deadlineprior to deadline

All requisitions must have required All requisitions must have required documentation prior to processingdocumentation prior to processing

Open Encumbrances at Year-Open Encumbrances at Year-EndEnd

Change Request Forms must be submitted via TechWorks by Change Request Forms must be submitted via TechWorks by Thursday, June 26, 2008.Thursday, June 26, 2008.

The Open Encumbrance Report (GTPOR262) will be available The Open Encumbrance Report (GTPOR262) will be available exclusively on TechWorksexclusively on TechWorks

– Run/Print/Review on June 28, 2008 Run/Print/Review on June 28, 2008

– Return with request to close encumbrance by Noon on Return with request to close encumbrance by Noon on Monday June 30, 2008. No accounting changes or increasesMonday June 30, 2008. No accounting changes or increases

– No Open Encumbrance Reports will be processed to No Open Encumbrance Reports will be processed to effect 2007 or 2008 PO’s/budgets, if received after JUNE effect 2007 or 2008 PO’s/budgets, if received after JUNE 3030thth..

FY 09 Purchase OrdersFY 09 Purchase Orders

FY 09 requisitions cannot be entered until FY 09 requisitions cannot be entered until July 1, 2008July 1, 2008

Notice of Intent to Issue Purchase OrderNotice of Intent to Issue Purchase Order form located on the Procurement Services form located on the Procurement Services form bankform bank

FY 09 transactions will not be available on FY 09 transactions will not be available on any financial reports until July 16, 2008any financial reports until July 16, 2008

Important P-Card DeadlinesImportant P-Card Deadlines

Transactions Transactions posted by bankposted by bank by Tuesday, June 27, 2008 will by Tuesday, June 27, 2008 will be recorded in FY 08.be recorded in FY 08.

Transaction information available on Saturday, June 28, Transaction information available on Saturday, June 28, 2008. 2008.

Redistribution via Works must be completed by 4:00 PM on Redistribution via Works must be completed by 4:00 PM on Tuesday, July 1, 2008. Tuesday, July 1, 2008.

Redistribution via the PCard redistribution journal entryRedistribution via the PCard redistribution journal entry must be completed by Thursday, July 3, 2008 must be completed by Thursday, July 3, 2008

PCard PCard may notmay not be used to purchase prepaid registrations for be used to purchase prepaid registrations for FY09 using FY08 fundsFY09 using FY08 funds..

Accounts Payable DeadlinesAccounts Payable Deadlines

Friday, June 20Friday, June 20thth at Noon at Noon – Last day for approved invoices and Last day for approved invoices and Check Check

Request FormsRequest Forms for posting in FY08 for posting in FY08 Properly approved on correct formProperly approved on correct form Valid account informationValid account information Supporting documentationSupporting documentation Sufficient encumbrance (for invoices, Sufficient encumbrance (for invoices,

subcontracts)subcontracts)

– Hand deliver urgent requestsHand deliver urgent requests to a manager after this date toto a manager after this date toensure processing by year-endensure processing by year-end

Accounts Payable Year-End Accounts Payable Year-End Accrual ProjectAccrual Project

All invoices $5000 and greater must be accrued at fiscal year All invoices $5000 and greater must be accrued at fiscal year end for invoices dated 6/30 and prior that are not paid this end for invoices dated 6/30 and prior that are not paid this fiscal yearfiscal year

AP will use the electronic invoicing system through WebNow AP will use the electronic invoicing system through WebNow to record all invoices > $5000 that are not paid by 6/30to record all invoices > $5000 that are not paid by 6/30

Whenever possible, approve these invoices and submit to AP Whenever possible, approve these invoices and submit to AP by year endby year end

Do not “hold” paper invoices-Whether the invoice Do not “hold” paper invoices-Whether the invoice is approved or not, please submit to AP for is approved or not, please submit to AP for scanning into invoice work queues andscanning into invoice work queues andaccrual of liabilityaccrual of liability

Pre-Paid ExpensesPre-Paid Expenses

What are they?What are they?– Payments that must be madePayments that must be made this this fiscal year for an fiscal year for an

expense for a expense for a futurefuture fiscal year. Examples include fiscal year. Examples include registrations and airfare purchases paid prior to 6/30 for a registrations and airfare purchases paid prior to 6/30 for a FY09 conference/trip.FY09 conference/trip.

How do we make payments this FY?How do we make payments this FY?– Submit CRF or TES marked ‘Pre-paid Expense’ and Submit CRF or TES marked ‘Pre-paid Expense’ and

include next FY’s project account. No P-Card charges include next FY’s project account. No P-Card charges allowed for future fiscal year expenditures.allowed for future fiscal year expenditures.

How are they posted?How are they posted?– Expenses will post to the FY09 Expenses will post to the FY09

project/expense account in Julyproject/expense account in July

FY09 Accounts Payable FY09 Accounts Payable TransactionsTransactions

– The system should be available on Tuesday, The system should be available on Tuesday, July 1st to begin processing payments for FY09July 1st to begin processing payments for FY09

– First check run: July 1stFirst check run: July 1st

– Expenses will not post to ledgers or the GT Data Expenses will not post to ledgers or the GT Data Warehouse (web payment look-up tool) until Warehouse (web payment look-up tool) until July 16th, but July 16th, but TRUST USTRUST US,,

“ “The check is in the mail”The check is in the mail”

FY 08 TES ProcessingFY 08 TES Processing

5/165/16 - Last day for TES submission for 4/30 and prior - Last day for TES submission for 4/30 and prior

6/66/6 - Deadline for 5/1 – 5/31 trip end dates - Deadline for 5/1 – 5/31 trip end dates

6/136/13 - Deadline for 6/1-6/11 trip end dates - Deadline for 6/1-6/11 trip end dates

6/206/20 (noon)- Deadline for 6/12-6/19 trip end dates (noon)- Deadline for 6/12-6/19 trip end dates

6/20-6/306/20-6/30 Trip end dates will be processed after July Trip end dates will be processed after July 1st, using FY09 funds unless hand delivered 1st, using FY09 funds unless hand delivered to a manager prior to noon on June 27thto a manager prior to noon on June 27th

Travel: Direct Billing of AirfareTravel: Direct Billing of Airfare

New This Year:New This Year: Monthly posting of travel agency charges Monthly posting of travel agency charges and increased direct billing of airfare=earlier deadlines for and increased direct billing of airfare=earlier deadlines for reservations that must hit FY08 ledgers.reservations that must hit FY08 ledgers.

Reduced domestic routes and peak summer travel- Reduced domestic routes and peak summer travel- Make Make reservations as early as possible!reservations as early as possible!

Book reservations through Travel Inc by May 15Book reservations through Travel Inc by May 15thth to ensure to ensure posting in FY08. If we are able to push this date to June, you posting in FY08. If we are able to push this date to June, you will be notified via the Admin Network.will be notified via the Admin Network.

After this date, travelers can always use personalAfter this date, travelers can always use personalcredit cards and we can reimburse using this year’scredit cards and we can reimburse using this year’sfunds, if submitted by funds, if submitted by 6/206/20..

Travel EncumbrancesTravel Encumbrances

Travel encumbrances using Travel encumbrances using sponsoredsponsored funds will carry funds will carry forward for 90 days after fiscal year end. On 9/30/08, forward for 90 days after fiscal year end. On 9/30/08, any open balances will be closed. any open balances will be closed.

All open encumbrances using All open encumbrances using non-sponsorednon-sponsored funds funds (including any related registration fees on the same (including any related registration fees on the same requisition) will be closed by Friday, June 27requisition) will be closed by Friday, June 27thth..

If trips are cancelled, or there are remaining funds on a If trips are cancelled, or there are remaining funds on a travel encumbrance that has already been fully travel encumbrance that has already been fully reimbursed, request closure via the reimbursed, request closure via the Purchasing Change Purchasing Change RequestRequest in TechWorks as soon as possible in TechWorks as soon as possible

Payroll UpdatePayroll Update

Maryann FogartySenior Director – HR Service Center


PSF’S

HAND DELIVER TO PAYROLL BY:

May 16 For May Payroll/Summer Pay

June 13 For June Payroll/Summer Pay


TIME DOCUMENTS:

TIME EDITOR WILL BE AVAILABLE FROM

8 AM June 5 Through 5PM June 6

8 AM June 19 Through 5PM June 20

OFF CYCLE CHECK REQUESTS:

Due in Payroll Wednesday, June 11 by 12:00 Noon

Summer Pay Processing Calendar

PeriodBegin Date

End Date

New Hire PSF Due in OHR

Payroll

Last day to Enter Summer

Pay for this Pay Period

Pay Date

01 May 12 May 31 May 5 May 20 May 3002 Jun 1 Jun 30 Jun 9 Jun 17 Jun 3003 Jul 1 Jul 31 Jul 8 Jul 22 Jul 3104 Aug 1 Aug 15 Aug 8 Aug 19 Aug 29

Academic Contract Pay

All other months start or end pays are prorated based on days worked divided by the total work days in that month.

August & May are ½ month pay regardless of the start or end date.

Full months are paid September through April.

Graduate Student PayGraduate Student Pay

GRADUATE STUDENT PAY IS PRORATED

AUGUST 2008 11 DAYS 1ST HALF

10 DAYS 2ND HALF

MAY 2009 11 DAYS 1ST HALF

10 DAYS 2ND HALF

Robert EllingtonDirector, SPD Center

SPD UpdateSPD Update

Early ASRs: For staff and students terminating in May that are under the Plan Confirmation System:

In April, SPD Center will query Payroll Database for Terminating Employees in May. (Please have PSF Term actions processed)

Send Departments list of Terminating Employees for Early ASRs.

Departments will have a week timeframe to ensure distribution is correct for each employee on list.



Cont.

SPD Center will print early ASRs for each Department and mail.

Departments should obtain employee certification on the Early ASRs and return to the SPD Center.

– No changes to the distribution on the early ASR can occur after they are printed or the certification is void and we will have to recertify.

Year End Close Dates:

June 30 - Last Day for Paper SPDs

July 3 - Last Day for Campus Online SPD Redistributions

July 11 - Mail FY08 Annual Statement of Reasonableness Obtain Employee signature Do not sign for employee If employee not available, supervisor or PI sign as First Hand Knowledge (Department Chair in rare instances) UFO sign on separate certification line.

July 16 - SPD Open for FY2009

August 29 - Return Signed & Certified ASRs to SPD Ctr.


Group Position Budget Load for FY2009 Refresh:

For students in Group Positions not in the Budget Load that are paid on Sponsored Funding in June 2008, the following Future Periods will be populated in SPD:

o FY09o Period 1 July - 100% June 2008 distribution (ENC distribution will carry thru to December 2008, Period 6)

o Period 7 January - 100% xxx6580/6680 projects (ENC distribution will carry thru to June 2009, Period 12)


Group Position Budget Load for FY2009 Refresh:

For students in Group Positions not in the Budget Load that are paid on State Funding in June 2008, the following Future Periods will be populated in SPD:

o If June 2008 distribution on xxx1111 / xxx1112 (even year) project.

o FY09o Period 1 July - 100% June 2008 distributiono Period 2 August - 50% June 2008 distribution

50% on xxx1200 project



Group Position Budget Load for FY2009 Refresh: -Cont.

o Period 3 September - 100% on xxx1200 project (ENC distribution will carry thru to June 2009, Period 12)

– If June 2008 on any other State projects FY09

– Period 1 July - 100% June, 2008 distribution (ENC distribution will carry thru to June 2009, Period 12)

• Accounting Services

• Budgets

• Bursar

• Business Services

• Grants & Contracts Accounting

• Human Resources/Payroll

• SPD Center

Questions from Audience

Georgia Institute of Technology Fiscal Year 2008 Year End Town Hall Meeting March 26, 2008 9am -...

Documents

Transcript of Georgia Institute of Technology Fiscal Year 2008 Year End Town Hall Meeting March 26, 2008 9am -...