Year End Preparation

1. Year End Preparation Grant Brown Bag Session May 20, 2014 By: Tracy Morkunas, CPA Controller’s Office

2. Year End Preparation Topics • CCRI’s Year End vs. Grant’s Year end • Review your grant before & after June 30th • Review Open Commitments • Forward Receiving/Signed Invoices to A/P • Review negative account lines • Do all your expenses look like they’re there? • Review expenditures you do not recognize • Submit all travel & other expenses by July 11th • Review who is being paid on your grant • Complete all T&E reports • Forward any Funding Source communications to the Controller’s Office

3. CCRI Year End vs.Grant Year End CCRI’s Year End is June 30th Whether or not your grant has a June 30 year end, there are certain actions that must be taken so that CCRI’s financial statements are fairly presented • All Expenses that were incurred by 6/30/14 must be included in CCRI’s FY14 Fiscal Year • An Expense is considered incurred when the goods are received or the services is provided • If the good is received June 12th, but paid on July 10th, the expense is incurred in June

4. Review your Grant Before & After June 30th • The Controller’s Office recommends that you review your grant in Banner beforeAND after June 30th • Although time consuming, a review before year end can help us clean up your grant and avoid year end issues • Post year end review is also important to ensure that any changes needed were successfully completed and to make sure that nothing has hit your grant in error in the meantime • Use a checklist to ensure you’ve done it all

5. Review Open Commitments Once the data populates, go up to Options, select Organization Encumbrances [FGIOENC] Go to FGIBDST, enter the Fiscal Year (currently 14) enter your Fund #, tab to the next field, then click Next Block

6. Review Open Commitments Amount remaining on the PO Account # the PO is on PO # These are ZEROs • This will show the list of Open Purchase Orders (PO’s) on your grant • Go to FPIPURR & enter the PO# for more detail

7. Review Open Commitments • For each of the Open PO’s on your grant: • If the good isn’t here yet, contact vendor to expedite • Is the PO still good? If it’s no longer going to be purchased, contact Purchasing & have them cancel the PO (liquidate blanket PO’s if not using them) • If you believe you have already received the item(s)/service on the PO, check with Accounts Payable (A/P) to see if they are missing any documentation • If you don’t recognize the Vendor Name and/or amount, look up the PO in FPIPURR for more information • Mistakes can happen & you don’t want to foot the bill for someone else’s grant!

8. Purchasing Segment • Cutoff Dates: See Memo from Purchasing • FY14 vs. FY15 Requisitions/Purchase Orders • FY14 Purchase Orders Rolling to FY15 • Grant Director is responsible for ensuring that PO balances are correct and roll properly from one year to the next • Purchasing & Accounting don’t know what the balance should be – please notify us of potential errors • Communicate with Purchasing • Phone: 401-825-2196

9. Work with Accounts Payable Accounts Payable • Make sure that all receiving documents get forwarded to A/P as soon as possible • If you receive an invoice: review it, sign if approving, forward to A/P – ASAP • If A/P sends you receiving doc’s/invoices, please review, sign & return immediately

10. Accounts Payable Segment • Check with A/P if invoices you have received haven’t hit Banner yet • Watch out for invoices sent from A/P needing signatures • Communicate with A/P • Sandy Sokoll x1074; ssokoll@ccri.edu • Kay Fagnant x2445; kfagnant1@ccri.edu

11. Review Available Balances Next Block You do not need to specify dates, they auto-populate Go to FRIGITD, enter your Fund#, tab to the next field, then click Next Block

12. Review Available Balances • If you see that there is a negative balance, then make sure all the expenses on that line look “ok” • To view the “Activity”, click inside the column for the specific account, then go to Options, select Grant Detail Information

13. Are all your expenses in there? • Review the amounts in the Activity column and Available Balance • Do these amounts look about right? • If something seems high or low, look at the detail in the Activity column (see Slide # 12) • If expenses hit the wrong line (or you don’t think they’re yours), contact the Chief Accountant for Grants (Tracy tamorkunas@ccri.edu or x2244) • For any negative Available Balances, budget modifications should be made • Email Tracy (tamorkunas@ccri.edu) and indicate which accounts you need to move budget dollars between & specify whether Funding Source approval is necessary for the change to be made

14. Review Expenditures • For Operating Expenses (Non-Payroll), review the detail – especially accounts with larger activity • If there is a vendor you do not immediately recognize, look up the invoice to make sure it belongs on your grant • If in FGIBDST, Click in the YTD Activity column • - Click Options, Transaction Detail Info

15. Review Expenditures This will bring you to the Invoice Query screen. • Example: During review of Educational Expense, you don’t recognize Advanced Educational Tech. Click on the Account number part of the line, then go to Options, Query Document [By Type]

16. Review Expenditures The Query Screen will appear, click Next Block until to you see the description Usually after clicking Next Block 2x, the Commodity Info. will appear

17. Review Expenditures • If your Invoice/PO is broken down into multiple lines, you will have to hit the down button on your keyboard to view them This means there are 15 lines to view

18. Submit ALL Travel & ExpensesBy July 11th Jo Anne: x2150 jrobitaille@ccri.edu • For all expenses that are incurred on or before June 30, 2014, submit all expenditures to the appropriate office by July 11, 2014 • Travel (in-state mileage & out-of-state) should be submitted to Jo Anne Robitaille (Controller Off.) • Receiving documents/Approved Invoices • Submit to Accounts Payable IT DOESN’T MATTER IF YOUR GRANT ENDS AFTER JUNE – ALL JUNE EXPENSES MUST BE SUBMITTED BY JULY 11TH

19. Grant Deadlines When your grant’s term is ending, you must ensure ALL expenditures are processed BEFORE the final billing/drawdown is processed For Example: If your grant ends June 30thand the final bill is due to the funding source by July 31st, you must submit all travel & expenses BEFORE July 31st – even though the travel policy says you have longer. • Otherwise, you need to find someone else to fund it!

20. Review Employees Being Paid Next Execute Block Query Ensure that only your employees are being paid on your grant • Go to: NHIDIST – enter the From Date & To Date (dates are based on the pay date), enter your Fund#, click Next Block, click Execute Query

21. Review Employees Being Paid • Check to see all of your employees are listed • To export the data into excel, go up to: • Help, select: Extract Data No Key • Hold down the Control button until the screen appears

22. If Applicable, Complete all Time & Effort ReportsSend to Tracy/Will

23. Forward Funding Source Doc’s Controller’s Office Funding Source Document • If you receive any communication or documents from your Funding Source, forward to the Controller’s Office • In FY13, RIDE announced that Adult Basic Education grants ending June 30, 2013 must remit the final invoice to RIDE by July 2, 2013! • The communication also stated that RIDE grants ending June 30th must pay all invoices/expenses related to FY13 before the end of July

24. Question & Comment Period