Finance & Administration Quarterly Update Business Affairs Update April 26, 2010.

Finance & Administration Quarterly Update

Business Affairs UpdateApril 26, 2010

Business Affairs Update

Agenda Items

• FY 10 Year End Accounting Deadlines and Reminders

• FY 10 Year End and Beginning FY 11 Purchasing Deadlines and Reminders

• Annual Property Inventory Certification Process

Business Affairs Update – Year End Deadlines

Accounting Services FY 10 Processing Deadlines

• August 27th (Friday)

• Encumbrance Adjustments: Encumbrance adjustments or releases for FY 10 and prior year encumbrances must be received by Purchasing

• Unclaimed Property: All unclaimed property, including stale dated checks with an issue date that is on or before June 30th, 2009 must be submitted to Accounting Services

• August 31st (Tuesday)

• Travel Applications: Travel Applications to be applied against FY 10 funds must be entered by 4:30pm



• September 3rd (Friday)

• Due to Accounting Services:

• Consumable Supplies/Goods for Resale Inventory counts as of August 31st. Form is available online at: http:www.fiscal.ttuhsc.edu/accounting/yep

• FY 10 Funding transfers submitted via Budget Revision

• Due to Purchasing:

• FY 10 Direct Pay Transactions



• September 8th (Wednesday)


• FY 10 Internal Purchase Funding & Cost Transfer Requests

• FY 10 Non-Contract Revenue Accrual Invoice forms (INs) & Expense Accrual Requests

• FY 10 Contract Revenue Accrual entered into Contracting/Accounts Receivable System

• FY 10 Intra-Institutional Vouchers (IVs) for service department charges entered through the Gateway

• FY 10 Holding Account and unidentified wire claims

• FY 10 Special Augmentation Accruals




• Due to Travel:

• FY 10 Travel Vouchers

• Due to Accounts Payable:

• FY 10 Invoices & Receiving Reports

• September 9th (Thursday)

• Purchasing Card Allocations:

• All P-card allocations due in Pathway Net

• Statement close date – September 7th



• September 9th (Thursday) (Continued)

• Purchasing Card Allocations:

• Pathway Net allocations may be made throughout August as purchases are made – there are only 2 business days to make allocations after the statement close date

• All charges on the September 7th statement will be applied to FY 10

• September 10th (Friday)

• Month end Close for August FY 10





• Questions regarding fund balances for FY 10 transaction detail included on Cognos reports after August close. Deficits will be covered from back up accounts unless alternate account information is received by September 17th (Friday)

• Additional Information available with the Quarterly Finance and Admin meeting notes on the Budget Website


Purchasing FY 10 & FY 11 Processing Deadlines

• June 4th (Friday)

• FY 10 New Bids and RFP’s Due

• FY 11 Orders with Payment Due 09/01/2010 or with Bids or RFPs greater than $25,000 Due

• June 25th (Friday)

• FY 11 Lease / Rental of Equipment, Maintenance Contracts and Services requiring Bids Due



• July 23rd (Friday)

• FY 10 Orders that already have Bids / Proposals due

• FY 11 Automated / Non-Automated Contracts due


• FY 10 Non-Punchout Orders Less than $5,000 due


• FY 10 Punchout Orders – only for orders actually processed and shipped (no backorders) due



• September 1st (Wednesday)

• FY 11 Punchout Orders may not be submitted prior to this day

• Additional Information and reminders will be sent out via TechBuy user group emails from Purchasing

• Additional Information and deadlines document available with the Quarterly Finance and Admin meeting notes on the Budget Website

Business Affairs Update - Property Inventory

Property Inventory Certification Process

• Annual Certification

• Due June 30th 2010

• All updates and changes must be entered and reflected in reports before certification

• Refer to HSC OP 63.10


Sign in to the Property Inventory System from Webraider, F & A

Work Tools tab, Finance channel


To start the verification and certification process, click on

“Reports”

“Help” document walks you through the certification process


Verification and Certification process

Determination of Capitalization and Controlled Items

Accessing Property Management Documents in

Laserfiche


Select “Departmental

Inventory Listing”

Click “Go To Report”


Click “Edit” for item you need

to correct

Printed version is available


You can update the Cond (Condition), Serial Number,

Building and Room


To change the “Room” location, you

must select the correct “Building”

first


After you have selected the correct Building, select the

correct Room number


Verify the Condition

Verify the Serial Number


After all changes are complete, click

“Update”

Verify that all changes are correct, then click “Save My

Changes”


Select “Items Not Yet Tagged”



If you have items on this report, you must “Edit” to complete

missing information.

Click “Edit” to add

information


Edit or complete all applicable fields,

then click “Update”

Select Building before selecting

Room


Verify that all changes are correct, then click “Save My

Changes”

After you have updated the information in the Property Inventory System, return the completed

tagging memo to Property Inventory at Stop 6209 and verify changes in the Departmental

Inventory list the next business day


Select the “Forms” link on the left side

of the page

If there are items on your Departmental Inventory Report or on your Items Not Yet Tagged Report

and you have diligently searched for these items, but not located them, you must report the items

as missing. The “Missing or Stolen Property Report” is available from the Forms link in the

menu.


Complete the form and return to

Property Inventory


Missing or Stolen Property

• Report inventory items on Departmental Inventory List or Not Tagged Report that you cannot locate

• Items that are missing will be reported to the State Comptroller after a two year period if not located

• State funding could be reduced if dollar amount of missing items is substantial

• Complete form and submit to Property Inventory Stop 6209 in Lubbock

• When entered in the system, the item will be added to the “Missing Property” report


Select “Missing Property”



Please make every attempt to locate missing items as they will be reported to the State Comptroller’s Office after two years. If there is an item on this list that you have located, please notify Property Inventory or email [email protected].

If an item has been stolen, submit Attachment B of HSC OP 63.10 to Property Inventory.

mailto:[email protected]


Select “Lost and Stolen Property”



After two years of reported as “Missing”, items are moved to the “Lost and Stolen Property” report and will

be submitted to the State Comptroller’s office. If the amount of loss is substantial, TTHSC could lose a proportional amount of state funding. Please make every effort to locate missing items and if located

please notify Property Inventory at [email protected].

Lost and Stolen Property


After you have completed edits, completed transfers, reported missing items and verified that your Departmental Inventory

Listing is correct, you must submit your Property Inventory List for certification by the departmental Property Custodian.

Please keep in mind that the changes submitted to Property Inventory could take several days to process, so do not wait

until June 30th to start the verification process.

Select “Annual Certification”



Select “Submit This Year’s Inventory

Reports for Annual Certification”


When you submit your certification you are certifying

that you have reviewed the

inventory reports and have

knowledge that they are correct. Please read this

statement.

The name of the person responsible for the certification of your department’s annual property inventory should be listed here. If this is not the person who should certify for your department,

please notify Property Inventory at [email protected].

After verification of correct inventory, click “Submit for Annual Certification”


When you submit the departmental inventory for certification, the submitter and the date the report was submitted will display. An email notification will go to the departmental

property custodian to notify them that the inventory is ready for annual certification. The annual certification is due by

June 30, 2010.


When the property custodian receives the email notification they must click on the link in the email and “Certify the Annual Inventory” to complete the process.

The annual certification is due by June 30, 2010.


The Property Inventory System has two search options, Search by Category and

Search by Tag/Serial Number

If you find items in your department that are not on your inventory list, you can search by either tag or serial number

to determine whose inventory list the item is on. It is possible that one department transferred an item to your department, but the documentation was not completed.

Please notify Property Inventory if this is the case.

Business Affairs Update – Property Inventory

Certification Process

• Verify all departmental property on Departmental Inventory Listing.

• Note condition and location

• Perform edits in Property Inventory System

• “Update” and “Save My Changes”

• Verify changes the next business day in the Property Inventory System

• Submit transfer forms to Property Inventory

• Complete and sign transfer form

• Obtain signatures from receiving department

• Send form to Property Inventory and verify in reports


Certification Process (Continued)

• Tag “Items Not Yet Tagged”

• Provide information for blank fields

• “Update” and “Save My Changes” and verify in reports

• Return Tagging Memo with completed information to Property Inventory

• Attempt to locate “Missing Items”

• Report “Missing Items” found to Property Inventory staff

• Report departmental property not on inventory list to Property Inventory staff


Certification Process (Continued)

• Complete and submit “Loss of Property” form for lost or stolen items

• Verify submitted changes to departmental inventory in Property Inventory System

• Submit “Inventory Report” for approval

• Department head must approve and submit “Annual Certification” of departmental inventory by

June 30, 2010


DeShun Avery

(806)743-7826 ext 312

Jessica McGaha

(806) 743-7826 ext 311

Carole Wardroup

(806)743- 7826 ext 313

Property Management

[email protected]

mailto:[email protected]

Business Affairs Update

Questions?

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