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					        Reading CSRs & GL
              Review

Barbara Barrett, University Financial Systems, barretbj, 687-1961   Spring 2012
                                                                                  1
              Today’s Discussion
• General Ledger (GL) – structure of the data
   – Account codes, funds, cost centers
   – Journal IDs, source codes, operator IDs
• Posting Transactions to the GL
   – How and When
• Reading Cost Center Status Reports (CSRs)
   – Formats (fiscal yr, project, special fund)
   – Budget versus actual
   – Inquiring on a transaction
   – Sponsored Programs (RX)
                                                  2
   General Ledger Review
The general ledger (GL) is the University’s accounting
system, or the official financial records of the institution.


The general ledger is a table that uses combinations of
chartfield values to organize and store financial activity for
reporting purposes.


The primary chartfields for GU are Account, Fund, and Cost
Center. Let’s review them.

                                                                3
                 Account Code
Account codes are used to classify transactions as revenue,
expense, asset, or liability.

For example, salaries are an expense to the University.
701xx identifies academic salaries and within this range
detailed accounts identify various academic groups.
70105 – Ordinary Faculty
70110 – Acad. Salaries Faculty
70120 – Acad. Salaries Exec/Admin

                                                       4
         Account Code Structure
The account codes are organized to group and summarize activity for reporting
purposes. The Balance Sheet report summarizes the assets, liabilities, and net worth of
an organization; the Income Statement reports the increase(decrease) in net worth for a
fiscal year.

       Balance Sheet                                            Account Codes
       Assets                                                   01000 – 19999
       Liabilities                                              20000 – 29999
       Net Assets (Equity)                                      40000 – 49999
(Assets – liabilities = net assets)

       Income Statement                                         Account Codes
       Revenue                                                  50000 – 59999
       Expense                                                  70000 – 79999
       Transfers                                                80000 – 89999
(Revenue – Expense – Transfers = change in net assets for a fiscal year)

Change in net assets are added to prior year net assets to determine total net assets (or
equity) at the end of a fiscal year. This balance is carried forward as the beginning net
asset balance in the new fiscal year.
                                                                                            5
           More on Account Codes
Some account codes have been setup for budgeting only. Revenue,
expense, & transfer accounts (50000 and greater) that end with ‘000’ or
‘00’ should only be used for budgeting. No actual transaction may be
posted against these accounts.
      EX.
      71000 – Supplies
      71100 – Office Supplies
      71200 – Computer Supplies

Transfer accounts, 89xxx, are used to move money between cost
centers, except for RX and GA centers. Transfers are not permitted
with RX or GA.
     EX.
     89205 – Program support from one center to another
     89206 – From operations to reserves
     89207 – Reinvest endowment distributions to principal
Use the same account code for the debit and the credit.
                                                                      6
Search for Active Account Codes
The following web site provides account code lookups
http://www.financialaffairs.georgetown.edu/FMS/coa.html
                                  The first lookup is a search
                                  feature. Search by account,
                                  account group (ex. 71), or by
                                  description. In many cases
                                  there are comments to assist in
                                  proper account usage.
                                  The second is a complete list
                                  of active accounts as of a
                                  specific date, in excel format
                                  so that it may be printed or
                                  saved to the desktop. This list
                                  must be updated periodically.
                                                                    7
                                 Fund Code
Fund code groups financial activity based on the use of the money.
10 Current use unrestricted fund: activities supported by resources over which governing
boards have discretionary control, ex. tuition and room & board. (ex. Departmental operating
budget – GX)

20 Current but restricted use fund: activities that are supported by resources whose use is
limited by external parties to specific operating purposes. (ex. Scholarships – RC or RS)

30 Endowments: assets to provide income for the maintenance of the institution. The use of
the assets of the fund may be permanently restricted, temporarily restricted, or unrestricted.
Endowment funds are generally established by donor-restricted gifts and bequests to provide a
permanent endowment, which is to provide a permanent source of income, or a term
endowment, which is to provide income for a specified period. The institution’s governing
board may earmark a potion of its unrestricted funds as board-designated endowment (quasi
endowment).

40 Loans: account for loans made to students and other constituents and resources available
for those purposes.

50 Plant: record land, buildings and equipment and the resources held to acquire them.

                                                                                              8
    Fund Code Relationship to Cost
               Center
For revenue & expense activity (50000 – 89999) use
                      fund:
          10 – if cost center starts with G
          20 – if cost center starts with R
          30 – if cost center starts with E
          40 – if cost center starts with L
          50 – if cost center starts with P


                                                     9
                     Cost Center
Cost centers are used to distinguish activity by the area,
program, and even restrictions on the funds. Cost centers
are nine characters in length. The first two are letters which
generally represent the fund and type of restriction or use of
the funds. The last seven are numbers which generally
represent the home department (first four) and a sequencer
(last three) since most areas have multiple cost centers.


                 GX – 2210 – 001

       Fund Center     Home Dept     Sequence No.

                                                        10
                    Cost Center
The first two letters in a cost center are often referred to as
the fund center. The fund center provides an indication of
the use or purpose of the revenues and expenses tracked in a
cost center.

For example, GX is a fund center for operations. Most
departments have at least one GX where their office
expenses such as salaries and supplies are charged. These
cost centers also have established budgets. GX centers
operate on a fiscal year schedule. A new budget is
submitted for each fiscal year and the actual transactions
start from zero each year.


                                                         11
                       Cost Center
Another fund center type is RX. RX is sponsored
programs activity, grants and contracts. RXs have
established budgets and charge expenses such as salaries
and supplies, however, they are not based on a fiscal year.
RXs are based on the term of the award which can run for
many years. In addition, RXs usually have external
reporting requirements.

For a complete listing of fund centers or to search for a cost center
see http://www.financialaffairs.georgetown.edu/FMS/coa.html


                                                                 12
Fund Center Groupings / Relationships and CSR Format
                                                Endowment Investment Pool
                                                                                                     Endowment Investment             Separately Invested
         Principal Investment                        Earnings Distribution/ Spending                   Pool Administration                 Endowments
EA - awards (S)                              RA - awards (S)                                        EC - gains/losses (S)          EJ - term (S)
EB - building (S)                            RB - building (S)                                      ET - interest/dividends (S)    EK - scholarship (S)
ED - term (S)                                RD - term (S)                                          EX - administration (O)        EM - other (S)
EE - special purpose (S)                     RE - special purpose (S)                                                              EN - planned giving (S)
EF - quasi (S)                               RF - quasi (S)                                                                        ER - life insurance (S)
EG - general (S)                             RG - general (S)                                                                      EV - other trusts (S)
EH - hospital (S)                            RH - hospital (S)                                                                     EW - professorships (S)
EL - library (S)                             RL - library (S)
EP - professorship / lecture (S)             RP - professorship / lecture (S)
ES - scholarship (S)                         RS - scholarship (S)

      Current Restricted Funds                Sponsored Programs Research Grants and                       Loan Funds
   (Restricted by External Source but                       Contracts
 entirely available for use in current yr)
RC - scholarships (S)                        RX - sponsored programs (P)                            LL - Loan Funds (S)
RT - other (S)                               GM - spon prgm cost sharing (S)
RW - awards (S)

  Current Unrestricted Funds                               Construction Projects                        Investment in Plant
GA - agency funds (non-GU) (S)               PC - construction expenses (P)                         PI - Investment in Plant (S)
GD - designated for specific use (S)         PD - unrestricted funding for construction (S)
GP - patents (assets on bal sht) (N)         PE - moveable equipment constrctn (P)
GR - clinical practice reserves (S)          PF - federal funding for construction (S)
GS - summer semester activities (O)          PR - restricted (donor) funding for construction (S)
GT - telecom a/r (bal sht) (N)               PJ - software projects (P)
GX - annual operating budgets (O)


CSR Formats: O - Fiscal year (operating), P - Project, S - Special Fund, N - no CSR: bal sheet only
                                                                                                                                                       13
                                                       Fund Center Table
Find the description of a fund ctr or review the purpose (use) of a particular fund ctr. http://www.georgetown.edu/finaff/coa/fundc.html




                                                                                                                                    14
15
16
Search for active cost centers at
http://financialaffairs.georgetown.edu/FMS/coa.html   17
Search for a Cost Center




                           18
19
                Cost Center Attributes
Each cost center has a set of attributes assigned that enable the
data to be grouped and reported on in various ways. The common
attributes include:
  •   Effective date - saves current, historical & future changes
  •   Status - active or inactive
  •   Organization Hierarchy – includes campus, school, division, department, and
      program
  •   Grouping – links related cost centers such as RX program projects
  •   Salary flag - can salaries be charged, yes or no
  •   Financial statement code - functional support provided to Univ. by the
      activities of the center such as instruction, academic support, research
  •   Net asset code - level of restriction, if any, on the funds (unrestricted, temp or
      permanently restricted)

  •   Not so common attributes include line of business and RX specific attributes
      which will be reviewed later

                                                                                       20
                           Organization Hierarchy
The organization hierarchy defines responsibility for managing the cost center within
the University’s reporting hierarchy. This code provides a simple method for
consolidating financial data by one of the levels. This code also simplifies data security
for many users.. The levels of the organization hierarchy are:
          -Campus
               -School
                    -Division
                         -Department
                               -Program


For example: GX2200000 Office of the College Dean maps to:
        Campus:           10 Main Campus
        School:           1002 Georgetown College
        Division:         1016 GC Dean
        Department:       10020 College Office of the Dean
        Program:          100020 College Office of the Dean




                                                                                             21
Use the cost center search feature to find centers within a
hierarchy. Below is a search for all cost centers mapped to the
department of Chemistry.




                                                                  22
                     Other Chartfields
There are several other chartfields stored in the general ledger
such as the fiscal year and the month (or period) of the year that
the transaction is posted.

One optional chartfield for departments is subclass (class).
   This five character field is pre-defined by the dept. and used on journals,
   EAs or purchase orders to help track specific programs or uses.
   For example, EM101 – security systems and EM102 – energy control
   systems.
   Note that departments will not be able to assign subclass codes to
   transactions sent by feeder systems such as payroll, telecom, and
   procurement card.


                                                                                 23
               General Ledger Summary
The chartfield values are used in combination and with dollar
amounts to generate journal voucher transactions to record the
financial activities of GU. A journal entry is a balanced set of
transactions, that is, a transaction with debit amounts and credit
amounts that equal zero when added together.


An example of a journal entry and its basic characteristics:
0000022390 | 10-16-2000 | GAO | NG | 1 | 01102 | 10 | GX5340000 | registration inc | CORONAD | $ 500.00
0000022390 | 10-16-2000 | GAO | NG | 2 | 55139 | 10 | GX5340000 | registration inc | CORONAD | $ -500.00

Journal ID, Journal Date, Source, Reference, Line Number, Account, Fund, Cost Center, Line Description,
Operator ID, and Amount.

Contact the General Accounting Office or Barbara Barrett at 687-1961(barretbj) if you have questions about
the GL or chartfields

                                                                                                 24
  Posting Transactions to the GL
• Most transactions are entered in the GL through
  automated interface programs. These include charges
  from GMS payroll, telecommunications, procurement
  card, consolidated billing for AP vendors: Xerox, Boise,
  FedEx, etc., facilities work orders, student information
  system, and accounts payable.
• Generally, departments submit journal vouchers to record
   – Interdepartmental charges such as mailing services and bookstore
     purchases
   – Reallocation of charges between account codes such as with the
     procurement card
   – Transfers to provide program support to another area/cost center
   – RX cost transfer adjustments sent to Sponsored Accounting Office
     if dept not authorized to upload
• Journal voucher upload templates are available at
  http://www.financialaffairs.georgetown.edu/forms/forms.html
                                                                    25
                               Journal Voucher




Departmental journals are to be uploaded to the GL by you if authorized, your business
manager or designee, GAO, Payroll, or SAO. There are separate upload templates for
payroll journals and cost transfer journals. Go to
http://www.financialaffairs.georgetown.edu/forms/forms.html to save templates and find
instructions.
Contact the General Accounting Office, if you have questions regarding JV closing dates
or submitting upload JVs for posting.
                                                                                   26
             Web Expense Voucher




Visit the Accounts Payable policies site for restrictions
on use of expense vouchers. Contact AP to learn more
about using web expense vouchers.
http://financialaffairs.georgetown.edu/procure/accounts_payable/AP_policies.htm

                                                                                  27
                                GL Batch Posting Cycle
Examples of transactions
loaded during the day
include:
Accounts Payable (daily)
Cashier Deposits (daily)                 *Starting at            Generate and
OA gifts (daily)                         6:00pm:                 post system
                                                                 journals:                       Generate Web
Online users (daily)
                                                                                                 CSR reports
Student Accts (daily)                    Edit and                                                available for
GMS payroll (daily, bi-                  Post                    Fringe benefits,                viewing the
weekly & monthly)                        Journals                indirect cost                   next morning.
                                         that are                charges ,
Procard (bi-weekly)
                                         Error Free              automated
Facilities (monthly)
                                                                 revenue, and
Telecom (monthly)                                                interfund
Web Cost Transfers                                               balancing
(nightly)

*The posting cycle runs 6:00pm daily Monday – Friday excluding University holidays and on Sundays starting at 11:00am.



                                                                                                                 28
       GL Closing Schedules




Go to http://financialaffairs.georgetown.edu and select the ‘Calendars’ link to get to
the GAO monthly closing calendars and the yearend audit calendar.

                                                                                         29
Financial Affairs Policy Updates
Go to the Financial Affairs home web page regularly to
check for updated policy and procedure information. In
particular check:
– What’s New http://www.financialaffairs.georgetown.edu/whatsnew.html
– Policies & Procedures
  http://www.financialaffairs.georgetown.edu/policytc.html
    • Financial affairs policy updates
    • CSR review and reconciliation
    • Non-depreciable movable equipment




                                                                        30
What is a
 CSR?
            31
The Cost Center Status Report is a report for tracking
revenue and/or expenses related to a particular program
or activity. In most cases the CSR tracks budgeted
activity in addition to actual revenue and expense
postings.

The CSR may be used to:
•   Check your current ending balance
•   Check your year-to-date expenditures
•   Check to see whether expense items have cleared and whether they
    belong to your cost center
•   Compare to your budget to see if you have a positive or negative
    variance and whether you have any remaining budget dollars




                                                                       32
                CSR Characteristics
• Exhibits:
   –   Summary
   –   Detail
   –   Non-payroll journal activity
   –   Payroll journal activity
   –   Open PO report
   –   Payroll encumbrance
   –   RX award information (web only)
   –   RX milestones (web only)
   –   Endowment information (web only)
   –   GL activity (web only)
   –   Payroll master list (web only)

• Formats:
   –   Fiscal year/budget based: operating (GX)
   –   Project year(s)/budget based (RX, PC, PE, PJ)
   –   Qatar format
   –   Special funds - may have budgets but the available balance in the fund carries over from
       year to year. Detailed activity is shown only for the current year (ex. GD, RT, RS, EP)

                                                                                          33
Using the CSR to Manage
    Budget vs. Actual
        Activities


                      34
Login to Financial Access+ to review the CSR report
- go to http://limited.georgetown.edu/FinancialAccess/
- select ‘Login to Financial Access+’
- enter your GU netid and netid password




Available Options

-Financials: - View Center Status Report
             - Check Distribution Report
             - Cost Transfers
-AP & Purchasing: - Enter Requisitions
                  - Procurement View
                  - Enter Expense Vouchers
                  - View Voucher Status
- Grants Management: - Sponsored Projects Milestone Update
                       - Effort Certification
                                                             35
Select the Financials menu
Then select the View Center Status Report link




                                                 36
- enter the cost center to be viewed.
- select the period to be viewed
- select the report type to be viewed
- select ‘Submit’ button

                                        37
Fiscal Year/Operating
Format (GX) -Center
Status Summary

                  A     B         C               D   E    F      G    H
                            C = B/Spread Method           F=C-E       H=B-E-G




              Net Activity = Revenues - Total Expenses
                                                                      38
Revenues: brackets around the variance indicate
that less revenue has been collected YTD than
expected per the estimated YTD budget.
                                                  Expenses: brackets around the variance means
Revenues: no brackets around the variance means   that more has been spent YTD than expected per
that more revenue has been collected YTD than     the estimated YTD budget.
expected per the estimated YTD budget.            Expenses: no brackets around the variance means
                                                  that less has been spent YTD than expected per
                                                  the estimated YTD budget.




                                                                                         39
                                  CSR Columns
A - Original Approved Budget (OAB): developed by campuses and approved by the
    Board of Directors generally during Feb or May meeting.

B - Current Approved Budget (CAB): OAB plus (minus) temporary and permanent
    budget revisions made after May.

C - Estimated YTD Budget: the timing of the revenue receipts and expense payments
    are estimated by spreading the CAB over the twelve months of the fiscal year.
    Methods include:
    (1) based on prior year’s actuals  (4) manual spread by user
    (2) one twelfth per month          (5) quarterly
    (3) full amount in June1/12        (6) semi-annual (Sep/Jan)

D - Current Month Actuals: summary of revenues and expenses posted to a cost center
    during the current fiscal month. The total agrees to the sum of posted journals on
    the payroll and non-payroll journal activity exhibits.

E - YTD Actuals: summary of revenues and expenses posted to a cost center for the
    fiscal year beginning with July and through the current month.



                                                                                    40
                            CSR Columns
F - Variance: amount is equal to the estimated YTD budget minus the YTD
    actuals. Variance measures your actual financial results to your
    projected results for a particular point during the fiscal year.

G - Open Commitments: amount is equal to outstanding purchase
   requisitions (orders sent to purchasing) and outstanding purchase orders
   (orders dispatched/sent to vendors but not yet paid).

H - Budget Balance Remaining: amount is equal to CAB minus YTD
   actuals minus open commitments. This column shows balance
   remaining to be collected (revenues) and balances remaining that can be
   spent (expenses).
   - a negative balance in revenues - still expect to collect more revenue
   - a positive balance in revenues - collected more revenue than budgeted.
   - a positive balance in expense - available budget to spend.
   - a negative balance in expense - spent more than budget provided.


                                                                         41
Payroll Encumbrance Exhibit




The rule for calculating a payroll encumbrance for non RX centers is to use the least of:
      -Expiration date of the employee from GMS
      -End of the current fiscal year



                                                                                            42
Center Status Detail
  The detail report breaks out the summary amounts into the detail account codes where the expense hit




                                                                                                         43
Upon completion of the summary and detail review select the non-payroll journal activity
exhibit for review.




                                                                                           44
Non-Payroll Journal Activity              - includes activity in accounts 50000-59999, 71000-89999




The operator and/or source code tell which office/system & which
person initiated the transaction
                                                                                                     45
Look Up Operator in the G’Town Directory




  URL = http://contact.georgetown.edu/

                                         46
Other common source
codes include:

GAO - General Accounting on-
line,
APY - Accounts payable,
CON - AP consolidated billing,
CSX – Auxiliary services division
PRC - Procurement card,
PYO – Payroll adjustment JV
FAC - Facilities work orders,
TAS - Telecom phone charges,
XFR – Cost transfer adjustment




                                47
         Look Up Source Codes




The source code indicates which feeder system, area, or
office initiated the journal entry.                       48
                                    AP transactions usually have two rows for each entry. The heading
Non-Payroll Journal                 provides the description for the first and second row of the entry.
Activity




   Information regarding invoice numbers, POs, check numbers etc. is located here for those
   transactions processed through the AP/PO system. Not all items with a journal source APY will
   have requisition/PO info.
                                                                                                          49
Non-Payroll Journal
Activity




  At year-end, numbers in the YE column indicate if the transaction occurred during first,
  second, or third close. The CSR uses the YE column throughout the year to show
  unposted journals during a period.

                                                                                      50
                        Non-Payroll Journal Data Fields
•   Transaction row 1
     –   Journal date: the date assigned to the transaction by the feeder system or the user preparing the journal. As a
         result a journal may be loaded on the last day of the month with a journal date of the first of the month, because
         the user or the feeder system is assigning this date.

     –   Journal ID-Line: the ten-character value assigned to a transaction and the line number within the journal. The
         journal id and the journal date in combination make the transaction unique.

     –   Posted Date: the date the transaction posted to the GL. This date is a helpful reference to determine which
         transactions were most recently added to the report.

     –   Src cde: the three-character code that identifies the feeder system or the University area responsible for the
         transaction. See http://www.georgetown.edu/finaff/FMS/coa.html for a list of the Journal Source Codes. This code
         assists the user in identifying a contact if he/she has questions. For example, GAO is General Accounting Office
         which means someone in this office submitted the journal. GAB is General Accounting Batched which means
         someone in GAO uploaded the journal on behalf of a University Dept.

     –   Ref cde: the two-character code is used to identify the type of transaction such as bank charge, accrual, wire
         transfer. But for most user initiated journals the ref ‘NG’ is used which means not generally specified, i.e., type of
         transaction has not been identified.

     –   Operator: generally this value will be the GU netid of the user who prepared the journal, although it is possible for
         a user to enter a value other than his/her true GU netid. For feeder system journals such as payroll, the operator is
         identified only as SYSTEM.

     –   Description: the line description of the transaction appears here. The line description is intended to provide some
         detail on what has been expensed or what revenue is received.



                                                                                                                              51
                        Non-Payroll Journal Data Fields
•   Transaction row 1 continued
     –   Ref/Vchr: if the journal src is ‘APY’ accounts payable, then this field contains the AP voucher id. This value is
         useful for confirming postings of Expense Vouchers, and is useful if you need to contact AP for questions or to
         obtain supporting documents. If the journal src is ‘XFR’ then the reason code, i.e., why a cost transfer was
         necessary, will be displayed in this field. If the journal src is not ‘APY’ or ‘XFR’ then this field may contain a
         ten-character reference added to a journal by the user. It is an optional field to provide additional information
         related to the transaction.

     –   Invoice/Offset: if the journal src is ‘APY’ this field contains the vendor’s invoice number. If the journal src is not
         ‘APY’ this field may contain the offset accounting, i.e., what account code and cost center received the opposing
         credit or debit related to this transaction.

     –   Subclass: the journal may contain a five-character value entered by the preparer to act as a group value. That is
         the user may want to flag certain expenses into one group and other expenses into another group. This value may
         be used to accomplish this, however, it can only be added on transactions the user has initiated: purchase
         requisitions, expense vouchers, and regular journals. View the subclass list on the following web site:
         http://www9.georgetown.edu/finaff/FMS/coa.html

     –   Posted Amount: the amount for this transaction.

     –   YE: most of the year this column is blank. During June, the last accounting period of the University’s fiscal year
         there are three closing periods. This column is used to flag transactions posted during second close (2) and those
         transactions posted during third close (3). The YE column is blank for transactions posted during June’s first
         close. Check GAO’s closing calendar for the dates of first, second, and final close each year.
         http://www9.georgetown.edu/finaff/calendars.html




                                                                                                                              52
                          Non-Payroll Journal Data Fields
•   Transaction row 2
    Transactions with a journal src of ‘APY’ are accounts payable transactions and there is a second row of data related to
    the transaction.

     –    AP Oper: this is the GU netid of the Accounts Payable analyst who entered the transaction into the system.
          Lookup the netid on the GU web directory and then contact this person if you have questions or require supporting
          documents.

     –    Vendor: this is the name of the vendor providing the goods or services in this transaction.

     –    Check #: this is the number of the check issued by the University’s AP system to the vendor.

     –    Req #: this field may contain a ten-character requisition number if a requisition was used to initiate the request for
          goods or services.

     –    PO #: this field may contain a ten-character purchase order number if a purchase order was used in the process of
          requesting the goods or services.




                                                                                                                              53
Select the Open Purchase Order Report to review open POs for the cost center.




                                                                                54
The open purchase order report shows open amounts remaining on purchase
orders, requisitions, sub recipient contracts, and animal care facility care days.
These are amounts that have been obligated against the budget. The open
amounts appear on the CSR summary and detail exhibits in the Open
Commitment Column.
                                                                                     55
      Accounting for Purchase Orders at Year End

•Blanket/Standing POs: purchasing currently requires blanket orders to be
reestablished at the start of each new fiscal year. The blanket order is closed at
year end and any open encumbrance amount is reversed. No accrual entries are
made to charge for invoices that may not yet be received.
•Construction Projects (PC/PE): at the end of the year open purchase orders that
are entirely for a PC or PE cost center are rolled forward to the new year to keep
the encumbrance open. No PO accrual entries are made at year end for these
items.
•Regular (one time) POs: at year end these orders are closed, but prior to
closing, the open amounts are pulled and amounts greater than $500 are accrued
as expenses in the current year and credits are posted in the new year to reverse
the accrual. RX centers are an exception, accruals are not posted for RX centers
since sponsor reports are prepared on a cash basis.
•Sub recipient Contracts: are carried forward to the new fiscal year




                                                                                     56
Select the Payroll Detail Activity to review payroll transactions by employee for the month.




                                                                                           57
  Payroll Detail Activity




Estimated payroll is necessary when the end of the bi-weekly pay period does
not coincide with the end of the month. A journal reversing this estimate is
posted in the next month to eliminate the prior month estimate. Notice the
reference codes: EP = estimated payroll and PR = payroll estimate reversal.
                                                                           58
Pay Type – PE codes are Subclass values that
may be reviewed on the chart of accounts
page




                                           59
Payroll Detail - Fringe Calculation




   There is a separate fringe calculation for each
   employee for each pay period JV



                                                     60
                      Recalculating Fringe Benefits


In GMS the fringe rate is determined by the combination of an employee’s job
family group, time type, and FTE




                                                                               61
                  Recalculating Fringe Benefits

• Please note that fringe rates for FY12 are reduced to 23% when an
  individual’s calendar YTD pay reaches $125,000, and fringe is no
  longer charged to additional pay after the YTD pay reaches
  $205,000 (limits effective as of 7/1/2004). These limits are set by
  the benefits office and executive committee and are subject to
  change.

• Visit the chart of accounts web page to see the GMS fringe table
  for FY2012.
• FY2013 will be posted when the new fringe rates are final.
                http://financialaffairs.georgetown.edu/FMS/coa.html




                                                                      62
Map PS pay category codes to GMS earning codes
Visit the chart of accounts page for a list of pay category codes found on
the CSR payroll activity report mapped to the GMS earning code. The
GMS earning code is a field on the new General Payroll Form.




                                                                             63
          Special Fund CSR
• CSR contains a beginning and ending
  balance
• Balance rolls forward to the next fiscal year
• Detailed activity shown on the CSR is for
  the current year
• The center may or may not include budgets
• Examples include GD, RT, ES, LL, PD.


                                              64
Special Funds CSR Format (RT)




   A positive amount in the beginning or ending balance is equal to a
   surplus. A negative amount in the beginning or ending balance is
   equal to a deficit.
                                                                        65
Sponsored Programs
   RX Accounts

                 66
           RX Accounts - Overview
•   The RX number Assigned by pre-award administration for each
    campus
•   First four digits = home department
•   Last three digits = sponsor type
     –   0 - 399 = DHHS
     –   400 - 599 = NSF
     –   600 - 799 = Private
     –   800 - 999 = Other Federal
•   RX accounts retain their balances from year to year
•   Income(revenue) is recognized and recorded when expenses are
    incurred. These journals are system generated in PeopleSoft based on
    posted expense journals.
•   Departments should not deposit checks directly into an RX center.
    Checks should be hand carried to SAO for deposit.
•   Transfer account codes (8xxxx) cannot be used with RX accounts

                                                                           67
            RX Cash Flow
CF Type       Description     Reimbursement of Expenses

  1       Letter of Credit    Federal Awards – funds
                              reimbursed electronically

  2       Clinical Trials     Reimbursement of expenses by
                              invoices sent based on patients
                              seen for the study.
  3       Deferred Payment    Funds are received before any
                              services are rendered (paid in
                              advance)
  4       Automatic Payment   Receive funds as
                              reimbursement for expenses on
                              an installment basis
  5       Billed              Some type of invoice is
                              required to receive
                              reimbursement for expenses

                                                                68
                        RX - Indirect Costs
•   Indirect costs are amounts reimbursed to the university by the sponsoring
    agency for unallocated overhead costs such as space and utilities.
•   The university negotiates an indirect cost rate with the government/other
    agency
•   The university recovers as indirect cost an expense equal to total RX
    expense (less any account exclusions) multiplied by the indirect cost rate.
•   Indirect cost (IDC) account code is 79501
•   IDC Rate
     – Negotiated with sponsor before award is set up
         • Federal - Negotiated with DHHS
         • Non-Federal - Negotiated individually with sponsors
                  Current Rates
                  Federal   53.5%     On-campus    Research
                  Federal    26%      Off-campus   Research
                  Business   25%      On-campus    Clinical Trials/
                  Pharm.                           Corp Sponsors
                  Private    15%                   If any indirect
                  Fdns
                                                                             69
           RX - Indirect Costs
• How to calculate the IDC amount on a
  CSR:
  – Reference the total direct expense amount for the
    current month
  – Subtract estimated p/r and excludables (x next to acct
    code for excludables)
  – This amount will be the modified total direct cost
    (MTDC)
  – Multiply the MTDC by the IDC rate for this RX


                                                             70
Project CSR Detail (RX)


                          Note that the detail report
                          will place an ‘x’ next to
                          any account code with
                          activity that is excluded
                          from the indirect cost
                          calculation.




                                                    71
RX Award Information on the Web



                                  The IDC rate and other
                                  RX cost center attribute
                                  information may be
                                  found on the web exhibit:
                                  RX Award Information.




                                                         72
To review a project CSR summary or detail report select the report type that references
(RX,PJ,PC,PP Awd) in the title. Note that PE is also a project cost center.




                                                                                          73
Project CSR Summary (RX, PC, PE, or PJ)

                A     B     C         D                     E                F
                                                                         (F = A-D-E)




                                 Payroll encumbrances - new March 2007




                                                                                  74
                                   RX CSR Columns
A – Project Budget: the amount of revenues to be collected or expenses to be incurred for the
    particular project. Usually fiscal year budget amounts are posted annually towards a
    cumulative budget, however, in some instances the budget for the entire project period may
    be posted upfront. The budgets are generally approved by the external sponsoring agency.

B – Current Month Actuals: summary of revenues and expenses posted to a cost center during the
    current fiscal month. The total agrees to the sum of posted journals on the payroll and non-
    payroll journal activity exhibits.

C – YTD Actuals: summary of revenues and expenses posted to a cost center for the fiscal year
    beginning with July and through the current month.

D – Project to Date Actuals: summary of revenues and expenses posted to a cost center from the
    start of the project through the current month. This period may span one or more fiscal years.

E – Open Commitments: payroll encumbrances, outstanding purchase requisitions (orders sent to
    purchasing), outstanding purchase orders (orders dispatched/sent to vendors but not yet paid),
    and subrecipient contracts.

F – Project Budget Remaining: the sum of project budget less project to date actuals less open
    commitments. This is the remaining amount available for spending based on the current
    funded amount of the project.
                                                                                             75
Payroll Encumbrances




   The rule for calculating a payroll encumbrance for RX centers is to use the least of:
         -Expiration date of the employee from GMS
         -End of the grant budget period that matches the report date

                                                                                           76
CSR Detail Report




                    77
Program Project CSR




 Enter the program project award number, ex. PP4222001, to run a consolidated CSR
 summary or detail of all the projects in a program project. Note that all the RX
 centers included in the consolidation are listed at the bottom of the report
                                                                                    78
The GL balance information is intended to provide notice to the
department when the GL balance in the unearned accounts is different
from the budget balance remaining per the csr report. The difference
may indicate that a potential overdraft has occurred (expenses exceed
award amount). In this example, the difference is due to a required
reduction in the award amount. The reduction has been reflected in the
cost center budget but has not been reflected to date in the GL. In this
example the cost center reflects the accurate status of the award.
Contact sponsored accounting for further assistance in this area.


                                                                      79
Collection Data appears for all RX centers except cash flow 2 – clinical
trials and 3 – deferred payment. This data compares cash collected to the
award total. Billing Data will also appear for RX centers with cash flow 2
– clinical trials or cash flow 5 – billed to show the amount billed versus the
amount collected.
                                                                                 80
A cost transfer is a secondary
journal voucher prepared to
correct an original transaction.
The original JV may have
charged the incorrect cost center,
an incorrect amount, or an
incorrect account code. Cost
transfers must include specific
information such as the original
transaction date and a reason
code for this adjustment, and the
JV must be submitted to SAO
with appropriate signatures and
declarations as needed.
                              81
RX Milestones




The milestone table tracks key dates that reports, invoices,
etc. are due and the actual completion date of each task.


                                                           82
RX - Closing Expired Awards
The sponsored accounting office (SAO) is responsible for the close out of an
award which will include submitting the final financial statement report
(FSR) and determining what is to be done with unspent funds, if any. Once
the award is closed the cost center will be inactivated so that no additional
transactions may post, and the award status will be changed from ‘open’ to
‘closed’. Refer to the SAO manual for procedures and contact SAO if you
have additional questions.

Check for post award training workshops on the HR operational training
calendar or contact SAO if you have additional questions about managing RX
cost centers.




                                                                                83
When you have completed the CSR review logout of Financial Access+ to prevent others
from accessing your data.




                                                                                       84
 Alternate Reporting System - FRE
A new reporting system, FRE (Financial Reporting Environment) was
introduced last spring. The FRE uses a web-based Cognos reporting application
to deliver CSR and other financial reporting functionality.

Some of the enhanced functionality includes running reports to PDF or csv, drill
through capability from summary level reports to detail level, and expanded
options for reporting on transactions.

Some pieces of information found in FA+ today are not yet available in FRE
such as historical review of encumbrance data and the calculation of effort on
an RX center found within the Master Payroll List in FA+.

We do not anticipate a shut down of FA+ until some of these missing items have
been addressed.

Go to http://financialaffairs.georgetown.edu/FMS/FREprocedures.html to
learn more about the FRE and obtain instructions for set up and login.

All active FA+ users are authorized to use FRE at this time.
                                                                                 85

				
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