Overseeing Financial Resources

Presentation Transcript

Overseeing Financial Resources New Manager Orientation

Managing Financial Resources Overview of Financial Resources Budgeting Process Budget Managers Purchasing Information Financial Reporting Grants & Gifts Training & Resources

Overview of Financial Resources

Operating Budget

University Financial Reports University money related reports accessible online through Campus Connection Instructions to get to these reports are accessible online at: http://condor.depaul.edu/~faffairs/finaffairs_pagelet_how_to.html

Financial Affairs Division Vice President for Financial Affairs Bob Kozoman AVP for Financial Affairs Mark Titzer Controller Bonnie Hirsch Treasurer Dave Dabney Student Financial Acts. Tamara Rogers Cash Management Investments Real Estate Office Occupational Safety Accounts Receivable Cashier's Office Collections Financial Systems Procurement Services Accounts Payable Financial Accounting Operational Reporting Payroll Restricted Accounting

Budgeting Process

University Organization Members of the Corporation Board of Trustees President Advancement Executive VP Provost VPs (5) Deans (8) & VPs (3)

Strategic Resource Allocation Committee (SRAC) Members of the Corporation Board of Trustees President, Student Govt. Affiliation President, Staff Council President Executive VP Provost VP Finance 2 Deans, 1 Faculty Deans & VPs President, Faculty Council

SRAC Membership 2007-2008 Budget Faculty Council Anne Clark Bartlett, English Woods Bowman, Public Policy Student Government Ashley Quirke Provost Helmut Epp Deans Ray Whittington, Commerce Don Casey, Music Staff Council Joe Filkins, OIPR EVP Scott Scarborough Vice President for Finance Bob Kozoman

Budget Managers

What is a Budget Manager? The individual named on a dynamic division Manages the office's financial plan Approves exchanges Requests AP vouchers Requests buy orders Views budgetary reports by means of Mobius Labor administration

Budget Manager Delegation You hold responsibility for assignments and obligations that are appointed Prior to marking/approving: read it, make inquiries, test for full understanding

Fraud Detection Budget chiefs are enter in the early recognition of misrepresentation Monthly survey of monetary reports "Two arrangements of eyes" Document compromise, including marks ProCard exchanges

Purchasing Information

Purchasing Methods Preferred sellers Direct buy Personal repayment ProCard Purchase arrange

Preferred Vendors University has gets that direct value, administration and quality from numerous merchants Whenever conceivable these merchants ought to be used Complete posting of favored sellers is accessible online at: http://www.depaul.edu/~procure/acquisition/suppliers.htm

Direct Purchase Most requests under $2,500 Place arrange straightforwardly with seller Invoice sent to Accounts Payable for installment

Personal Reimbursement Small dollar buys Employee buys with individual assets Request submitted for repayment Requires unique receipts Full approach accessible online at http://policies.depaul.edu/strategy/policy.aspx?pid=39

ProCard Corporate Visa Used for most buys under $2,500 Travel/amusement are permitted with spending director endorsement Forms accessible online at the Procurement Services site Full arrangement accessible online at http://policies.depaul.edu/approach/policy.aspx?pid=69

Purchase Order All buys over $2,500 Technology buys over $500 Written citations ought to be gotten for contracted administrations, IT hardware, and uses more prominent than $5,000 Official duplicates of procurement requests are given by Procurement Services Funds are hampered Full approach accessible online at http://policies.depaul.edu/arrangement/policy.aspx?pid=80

Purchasing Methods Exercise – Legitimate Business Purposes

Contracts Limited to assigned individuals who may go about as specialists of the college in going into an agreement General Counsel's Office must audit any agreement over $25,000

Contracts Full approach accessible online at http://policies.depaul.edu/arrangement/policy.aspx?pid=81

Salvage Program Equipment no longer required is come back to Procurement Services Equipment might be: Reallocated inside Sold ( www.universitysalvage.com ) Donated Recycled Disposed

Financial Systems and Reporting

Overview of Financial Systems Source Transactions Accounting/Control Reporting/Analytics PeopleSoft SAHR Data Marts OIPR PeopleSoft FIN Payroll/Benefits Financial Aid Cashier Receipts Student Payments Grants Fixed Assets WAS General Ledger Mobius Reports Portal Accounts Payable Purchasing Financial Affairs Website Procard, Copiers, PC Leases, Telephones, BSR (endowments) Annual Budget

Financial Reports through Mobius Web-based program to view flow and past money related data from PeopleSoft Reconcile your spending month to month and archive Correct and examine any blunders or sketchy movement

Financial Reports through Mobius  Chartfields Exercise

Grants

Grant Life Cycle Collaborative exertion between the Office of Sponsored Programs and Research (OSPR), Restricted Accounting, and the Principal Investigator Proposal Issuance Set-up Implementation End of Project & Close-out

Gifts and Contributions

Gifts and Contributions All blessings given to DePaul University ought to be submitted to the Advancement Office for preparing. Political commitments are liable to legitimate limitations from the IRS. For instance, University assets may not be utilized for going to political occasions. Workforce or staff individuals may not utilize college assets to make blessings or gifts to any people, gatherings, or associations.

Training & Resources

Other Training Sessions Office of Institutional Compliance Management Standards Training Financial Affairs Budget Manager I&II (Financial Systems/Chartfields/Reporting/Security) Budget Manager III (Grants) Pro-Card Mobius/Reports

Resources Office of the Secretary - Policies and Procedures http://policies.depaul.edu Office of Institutional Compliance http://compliance.depaul.edu Office of Sponsored Programs and Research (OSPR) http://ospr.depaul.edu Advancement http://giving.depaul.edu

Resources Financial Affairs http://www.depaul.edu/~faffairs/Training calendar and archives Staff catalog Procurement Services and Accounts Payable http://www.depaul.edu/~procure/Purchasing and installment rules Online instructional classes Personal rebates