AUBURN UNIVERSITYBUDGETING .ppt

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1、AUBURN UNIVERSITY BUDGETING & ACCOUNTING Financial Management,AU BUDGETING & ACCOUNTING Objectives,Financial overview of AU Business Office introduction Controllers office and account structure Administrative systems, Banner Finance Budget Services and the budget process,AU BUDGETING & ACCOUNTING Wh

2、at is the Business Office?,Controllers Office (Financial Reporting & Property Services) Mgmt Reporting Budget Services Student Financial Services (formerly Bursar and Financial Aid),Procurement & Payment Services (formerly Accts Payable & Purchasing) Contracts & Grants Accounting Payroll & Employee

3、Benefits Information Systems Support,Associate VP forBusiness & Finance Marcie Smith,Director Budget Services Teresa Vest,Exec Dir Procurement & Payment Services Shawn Corrigan Asmuth,Director Contracts & Grants Accounting Sheila Duffield,Director Management Accounting Cindy Selman,Exec Dir Payroll

4、& Employee Benefits Ronnie Herring,Exec Dir Student Financial Services Mike Reynolds,Director Information Systems Support Michael Miller,Controller Amy Douglas,Exec Sec Sandra Bonney,Procurement & Payment Services,Responsibilities Procurement of and payment for acquired goods and services, including

5、 compliance, proper accounting and records retention Manage purchasing card program Promulgate policies associated with procurement & payment Compliance with IRS 1099 tax laws and state escheat laws Major Projects Enhanced control and fraud monitoring Electronic workflow and imaging of financial doc

6、uments Challenges Decentralized buying and receiving Regulatory climate,Payroll and Employee Benefits,Responsibilities Ensure the timely and accurate pay and all accounting of payroll & benefits for all AU employees Manage all benefit programs Major projects Benefit analysis and wellness program Pos

7、t retirement actuarial update Challenges Cost containment of health insurance program Decentralized time entry,Contracts and Grants Accounting,Responsibilities Financial reporting and sponsor billing for all sponsored agreements Oversees federal, state and other compliance related to financial aspec

8、ts of sponsored agreements Facilities & Administrative rate development and recovery distribution Major Projects Effort certification automate & improve compliance Development of Banner reporting Challenges Keeping abreast of regulatory climate Maintaining adequate compliance in decentralized enviro

9、nment,Student Financial Services,Responsibilities Manage student financial aid program Bill and collect all student tuition and fees Record revenue received by AU Maintain student billing system Major Projects Implementation of Banner student info system Integration of activities of billing/receivin

10、g with student financial aid to assure optimal cost savings and efficiencies Challenges Maintain complex tuition/fee structure Maintain compliance with constantly changing Title IV Higher Education Regulations,Management Accounting,Responsibilities Provide university-wide management reports and anal

11、ysis Assist units in preparing management reports Preparation and analysis of reserve reporting Oversee capital budgeting, deferred maintenance and debt needs Major Projects College/School needs assessment Development of management reporting and presentation to campus constituents Challenges Definin

12、g, creating, automating management reports to meet all needs Dissemination of information in formats acceptable to deans, department heads, financial managers, etc.,Information Systems Support,Responsibilities Programming, tech support for finance and human resource systems Desktop/server support fo

13、r Business Office & other administrative units Liaison with central information technology Production support data entry, print, imaging financial documents Major Projects Banner reporting Budget development system Converting AS400 data and systems Challenges Prioritizing to meet needs of all users

14、in current climate of new systems Constantly changing IT environment,Banner Project Office,Responsibilities Coordinate activities of users, information technology, outside consultants, steering and executive committees in implementation Recommend policy changes and software purchases to senior admin

15、istration Manage project budget Major ProjectsCompleting student implementation for Fall 07 roll-outImplementation of workflow and executive reporting ChallengesPrioritization of competing demands for technical resourcesCoordination of upgrades in a relational database environment,AU BUDGETING & ACC

16、OUNTING Other Financial Services,Treasury Services Development Accounting Alumni Accounting Risk Management & Safety Internal Audit,AU ACCOUNTING & BUDGETING Mission Statement,The mission of the Business Office is to provide leadership in the development, implementation, and continuous improvement o

17、f the business and financial services essential for Auburn University to pursue its mission of teaching, research, and outreach,AU ACCOUNTING & BUDGETING,Service is important Compliance is important Constant balancing act to do both,AU ACCOUNTING & BUDGETING Service and Compliance,Increased demands

18、for financial information Enhanced technology Federal Regulatory Climate - IRS, Federal Sponsors, Dept of Education, Cost Accounting Standards State regulations travel, bid law, public works law Governmental Accounting Standards and Financial Accounting Standards,AU ACCOUNTING & BUDGETING World Wide

19、 Web Information,Description of each business office Financial Policies & Procedures Information can be found at http:/www.auburn.edu/administration/business_office/OR on Banner site athttp:/auaccess.auburn.edu (will require user ID to log into Banner),Controllers Office,Role of Controllers Office,A

20、U ACCOUNTING & BUDGETING Controllers Office,Our Customers: Federal and State regulatory agencies External auditors Bond Agents and banks Other Institutions for benchmarking Internal Users - Presidents Office, Vice Presidents, Deans, Directors and Department Heads and YOU!,AU ACCOUNTING & BUDGETING C

21、ontrollers Office,Responsibilities: Preparing annual, audited, published Financial Statements Coordinate Financial Audit and A-133 Audit of Federal Funds, NCAA Audit Accounting for University Assets Cash - monthly bank reconciliations Property, Plant and Equipment-Reported in General Ledger Capitali

22、zed Equipment Recorded in Fixed Asset Module,Responsibilities continued: Process Bond Payments and reconcile accounts related to debt service, ratio analysis Preparation of various tax returns including 990T, sales tax and excise tax Prepare Journal Entries for transfers and corrections, review ITVs

23、 and DECs, analyze accounts, do special projects Implement service centers policies Key role in Banner Finance System,AU ACCOUNTING & BUDGETING Controllers Office,FINANCIAL SYSTEMS,AU ACCOUNTING & BUDGETING Banner Basics,Banner Project Financial System October 1, 2005 implementation Includes budget

24、system, finance system, payables, purchasing, fixed assets Training ongoing (HRD classes offered each semester), Banner Boost Human Resource System July 1, 2006 implementation (includes payroll, leave information) Student Info System (Billing/Receivables) July 1, 2007,AU ACCOUNTING & BUDGETING Banne

25、r Basics,Access to systems “AU ACCESS” is web-based with a single sign-on Two types of access Banner Self-Service and Banner Admin The AU Access portal provides calendar, announcements, shortcuts to processing, policies and procedures, and other information Many transactions can be processed electro

26、nically purchase requisitions, budget, etc. We are working toward being able to process imaged documents,AU ACCOUNTING & BUDGETING Finance System,Accumulation of hundreds of thousands of transactions in various funds, orgs, accounts and programs allows AU to meet the reporting needs for State of Ala

27、bama Annual Financial report Federal funds audit And many more.,AU ACCOUNTING & BUDGETING More Finance System,Banner Finance Includes an accounts payable and purchasing function Grants module for sponsored programs/project tracking Fixed assets system for recording depreciation/Detail of Capitalized

28、 Assets Ability to download financial information into spreadsheets for additional reporting and monitoring Monthly and other reports delivered electronically via E-Print. Other report options coming through ARGOS reporting,AU ACCOUNTING & BUDGETING More Finance System,All financial information is c

29、aptured in unique accounts (Now referred to as FOAPs in Banner) Where the money comes from, restrictions on the use placed by outsiders and how it is spent all influence the classification of dollars in the Finance System Allows for budgeting, reporting and tracking resources received and used,AU AC

30、COUNTING & BUDGETING WHAT IS A FOAP?,Fund assets, liabilities and fund balances identified by type (ex. Unrestricted base budget funds, plant funds, restricted sponsored project fund) Org revenue, expenditures and budget for a unique organizational unit. Identifies Who is spending the funds. Account

31、 five digits which identifies What type of revenue, expense, asset, liability, etc. Program identifies the function or purpose of expense (instruction, research, etc.) AND A-21 classification of expense (organized research, general administration, etc.),AU ACCOUNTING & BUDGETING Example,AU ACCOUNTIN

32、G & BUDGETING Self Service Banner,Uses traditional web browser Easy to use and understand Transaction processing Use for purchase requisitions and budget transfers Approvals routed electronically Query Balances for year-to-date transactions and budgets available Only operating ledger revenues, expen

33、ditures and budgets Overall, limited functionality,AU ACCOUNTING & BUDGETING Banner Admin,Special navigation is required training is critical Expanded functionality Vendor query Fund (General ledger) information Project basis accounts construction and grant accounts gives project-to-date expenses an

34、d revenues Query and reports downloading available,Auburn University Budgeting,Role of Budget Services AU Budget Process,AU ACCOUNTING & BUDGETING Budget Services,Auburn Universitys annual financial plan is expressed as an annual budget The office of Budget Services is charged with the responsibilit

35、y for the complete Auburn University budget, including the systems used to develop and track budgets, for all divisions,AU ACCOUNTING & BUDGETING Budget Process,Budget Advisory Committee Board of Trustees - tuition increases Legislature - passes appropriation in April Budget Preparation - usually la

36、te June through September Currently using online budget development system created by users and programmers at AU Typically an incremental process,AU ACCOUNTING & BUDGETING Budget Process,Individual colleges/schools and VP areas use the combination of a Banner product, “Salary Planner”, and an in-ho

37、use developed system called “Stripes” to prepare the annual budget. Budget Services balances and summarizes the budgets for presentation and approval to the Board of Trustees New salaries are loaded into the Human Resource System Total budgets are uploaded into the Finance system New tools were util

38、ized starting in the FY08 budget year,AU ACCOUNTING & BUDGETING Budget Year,October 1 is the beginning of the fiscal year September 30 is the end of the fiscal year,AU ACCOUNTING & BUDGETING Budget Changes,Budgets can be modified throughout the year by processing budget changes online in the Banner

39、System (AU04) Instructions to web-based system found on the Budget Office website: www.auburn.edu/budget,AU ACCOUNTING & BUDGETING Budget Carryover,Unused Budget can be carried forward and spent in future fiscal years Provides incentive More efficient/effective use of funds,AU ACCOUNTING & BUDGETING

40、 Budget Carryover,Reserve reporting is done annually to summarize carryover and resources available to each unit Units are encouraged to use existing resources for one-time needs,MORE CHANGES,Electronic pay advices Internal control emphasis (SAS 112) Enhanced reports Imaging/workflow New policies signature authority, cell-phone, etc.,