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County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H...

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County 4-H Endowments cfaesfinance.osu.edu Cindy [email protected]
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Page 1: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

County 4-H Endowments

cfaesfinance.osu.edu Cindy [email protected]

Page 2: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Agenda

Description of change

Reasons

Communication to date

Timeline

Tracking

Spending

Other

Page 3: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

What is changing? New process for spending the earnings of 4-H endowments in trust at Ohio State

Checks representing total earnings will no longer be mailed to county committees

There is no change to the amount of funding or the purpose of the funding

Available for spending the first week of July

Purchase process will be through the county extension office

Earlier than usual

Page 4: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Goals Quicker access to funds. Counties will have annual interest earnings available to

spend, instead of waiting until October.

Reduces paperwork for county committees. Records can be made directly from

the OSU accounting system. We will be able to show donors, auditors, and any

other concerned parties all of the financial transactions, as well as the approvals,

current balances and any carryforward funds.

Increased safeguards and reduced liability for county committee treasurers.

The OSU financial system will less potential liability and risk exposure for volunteers

Consistency. All other OSU managed endowment funds are handled this way

Page 5: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Communications Employees. Communication to employees including 4-H Educators, County

Directors and Support staff started in the fall of 2015 to allow ample time for

questions and suggestions. This included the distribution of the county endowment

quick guide meant to provide some guidance on tracking and purchasing items

using endowments.

Volunteers. Communication to the volunteers has primarily come from the 4-H

Educators to the local committee members. In June of 2016 the senior leadership of

FAES distributed a letter for employees to give to volunteers to communicate the

change.

Page 6: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Timeline Fall

2015

Winter/Spring 2016

Summer 2016

July 2016

July 2017

Fall 2015 was spent

sharing the decision with 4-H

Educators, making

plans for implementation, and create the

quick guide

Winter and Spring of 2015/2016 was

used to communicate with

county directors and support staff who will assist in processing and

tracking the endowment

earnings

Summer 2016 is being used to send final

communications and make sure all necessary

parties knows what is needed moving forward.

This includes the

Business Operations Center personnel that will be assisting with

payments.

July 2016 will be the first distribution to

remain in the endowment earnings

fund series. 2xxxxx

Expenses associated with the endowment

should now be submitted for payment

on the eRequest, eTravel or HRAction

request systems.

First automated reports available

for 2016-2017endowment

year.

New endowment earnings

distributed.

Page 7: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Tracking Fund Description

TAS – The Advancement

System

tas.osu.edu

Gift Memo Support Report

Access required

Video instructions for running report

Endowment Administration Descriptions and Fund Balances

https://access.fundriver.com/OSUpublic/

Use fund ID 6xxxxx or choose Keyword

See summary data on screen or link to

View Fund Full Description in PDF Format

Public site

eReports.osu.edu

Access required

3OS-61 Report 4OS-91 Report Fund Balance Detail Activity

Video instructions on accessing

reports

Video instructions on reading reports

PDF Quick Access Guide

Donations Fund Balance, Earnings and

Expenses

Page 8: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Tracking Fund Description Donations

Fund Balance, Earnings and

Expenses

Page 9: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Spending Expenses must come directly from the endowment income fund (2xxxxx) Expenses cannot be paid by an external committee with the expectation of getting reimbursed from the endowment.

PCard

Purchase Order Extension Checking

Account

Volunteer Reimbursement

Convenience Order

Employee Reimbursement

Page 10: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Scholarships Scholarships for education for a student attending OSU Awarded to a student in order to further their education. Payment must be paid through Ohio State University. Email Pat Whittington the student’s name, student’s OSU Empl ID, award amount, scholarship name, and endowment org and fund #.

OSU

Page 11: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Scholarships Scholarships for education for a student not attending OSU Awarded to a student in order to further their education. The check is made payable to the institution that they will be enrolled in for tuition and fees assigned to the student. The Extension office should: •Fax the VSF (completed by the student) to 614-688-0529 •Submit an eRequest – Payment

•Reference Convenience Order Number X17056 in the Additional Information Section of the eRequest •Attach a document that explains the award selection process and purpose of the award.

•The check will be mailed directly to the address provided on the VSF. If you want other routing, please note this in the additional information section of the eRequest. •Allow three weeks for processing.

Other Institution

Page 12: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Scholarships Note – this is not the preferred method for scholarship processing! Scholarships for education – Payable to the Individual Awarded to a student in order to further their education. The check is made payable to the student. Note that this may become taxable income to the student if processed this way (pay to the institution if you want to avoid this). Also, you won’t be able to verify they have used this for education. The VSF will need to be from the student, do not attach the vendor setup form (a social security number will be on this form).

To Student

Page 13: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Scholarships

Scholarships for registration for OSU events (ex. Camp Scholarship) Awarded to a student to reduce the cost of their attending an OSU sponsored event.

Payment can be made to refund the student for their expenses or paid directly to the event on their behalf. Payment to individual: Unit should enter an eRequest – Refund Attach a document that explains the award selection process and purpose of the award. Reference the deposit id for where the original payment was received from the student for the event and payment should only be made after the event has occurred and attendance confirmed. Payment to the event: External events: Unit should enter an eRequest – Standard Purchasing Request. Attach pages 2 and 3 of the VSF. A PO number will be emailed to the initiator. After the event takes place, submit the vendor’s invoice with the PO number to [email protected]

Internal Events: Contact the event coordinator about transferring funds from your endowment fund to the event revenue fund.

For Event

Page 14: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Supplies Ex. Food, Program Supplies, Postage

For Event

Extra work

required if

branded

Page 15: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Awards

Plaques, Trophies, Ribbons Normal processing unless you plan to put an OSU brand on the items.

For Event

Extra work

required if

branded

Promo Guide

Page 16: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Insurance

Event insurance is restricted at the university. However, FAES has an exemption to allow you to pay from the checking account. Accident and Event Insurance coverage should be paid via the extension checking account or with a purchase order via an approved eRequest. Insurance paid from the extension checking account must be tracked and reported annually to the Business Operations Center Use the Insurance Tracking Form to assist you in this process.

For Event

Purchase Order

required for other types of

insurance

Page 17: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Promotional Items T-shirts, Jackets, Bowls, Pens, etc.

This is a restricted item at the university. Process is lengthy so plan ahead. Also consider other payment options if you aren’t putting branding on the material. Considerations: • 3 level branding approval • 2 tier vendor selection based on for-sale items and for-free items • Extra business purpose usually required • Tax Implications (payroll, non employee, sales tax) • Multi-step process in order to be approved to buy locally • Some steps easier with 4-H Mall

For Event

See the Promotional Items Guide

Page 18: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Speakers Ex. Judges, teachers, entertainers, nurses

There are IRS restrictions on paying people for services. Instead of a quote, write up a scope of services (paragraph outlining what they will do for you). This will require a PO and a Vendor Setup Form, plan ahead. The Extension Office should: •Fax the VSF (completed by the individual) to 614-688-0529 •Submit an eRequest – Standard Purchasing Request

•Attach scope of services •Wait for a Purchase Order number (allow two weeks) •After services are completed send an invoice (received from the individual) to [email protected]

For Event

Do not pay from checking account

Page 19: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Travel

• Charter buses must be processed on a Purchase Order Charter Bus FAQ.

• Group travel should be organized through the Business Operations Center.

• Overnight travel must be preapproved by the county director prior to the trip.

• Mileage can be submitted on an eRequest

• Travel organized by the Extension State 4-H Office or by a county office can be paid internally with an expense transfer using the endowment fund.

For Event

Do not pay from checking account

Page 20: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

20

OHIO STATE university EXTENSION

Red flag purchases STOP and ask

FIRST! Liability issues

Safety, security, transportation

IRS tax issues Gifts, payments to

individuals for services University

image Branding, promotional

items, sales, give aways

Examples Charters (buses, canoes, boats) Weapons, ammunition, firearms, bows, arrows Unmanned Aerial Vehicles, Renovations that disturb the walls, floor or ceiling, Online file storage, Online Online payment processing, Online software, Gifts to employees, large Large gifts >$250 to non-employees, honoraria, emeriti, speakers, nurses, entertainers, drivers, Promo items: T-Shirts, hats, bags, trinkets

Page 21: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Recap

For Event

Do not pay from checking account

• Purchases must be made directly to the vendors – not as a reimbursement to the endowment committee

• Scholarships are easy but will require a vendor setup form

• Think about your purchase before it is needed. • If there are safety, security or liability issues chances are a PO will be

required and vendor choice will be limited • If there are IRS Tax issues such as payments to people or gifts chances are

a vendor setup form will be required. • If your purchase will represent the university in some way there will be

multiple approvals and limited vendor choices

• This isn’t different than all of your other normal purchases

• If no red flag items exist then dollar thresholds usually dictate the buying tool

Page 22: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

General Ledger/County Reimbursements

For Event

Do not pay from checking account

2xxxxx Endowment Interest Fund • July transfer credit to revenue

• When using a Purchase Order, processing a scholarship, traveling, using a PCard you simply need to use the 2xxxxx fund number on the eRequest or eTravel • When using the Extension checking account to pay for items you must submit for

reimbursement from the endowment interest fund in order to actually charge the endowment. Process: write check submit eRequest for reimbursement deposit check

Page 23: County 4-H Endowments - Ohio State University · New process for spending the earnings of 4-H endowments in trust at Ohio State ... Awards . Plaques, Trophies, Ribbons. ... Purchase

Summary We value our local partnerships

We want to provide all of the support afforded to those partnerships by their

affiliation to the university

We want local 4-H professionals to help in accounting for these Extension

endowments

We want to make it easy for you to do the business you need to do

Change can be difficult and we look forward to hearing your feedback for

improvements in future processes

Need help with a buying procedure? [email protected] or your Business

Operations representative


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