Economic Analysis Template Project Excel Fin by tkv74755


Economic Analysis Template Project Excel Fin document sample

More Info
									                                                                                                       November 2007

                                                                 Fiscal Management Division of OMB

                                                      FISCAL MANAGEMENT

                                   We are all familiar with      the current contract, to develop
                              the expenditure side of the        forecast assumptions based on
                              budget…appropriations and          national and regional economic
  Inside this issue:
                              expenditures comprise the ma-      trends and projections. That
BARS—Budget               2   jority of the debate and testi-    information is analyzed by the
Analysis and                  mony during legislative ses-       Office of Management and
Reporting System
                              sions. Managing those appro-       Budget and the Tax Depart-
Spread Your Budget in     2
PeopleSoft Yet?
                              priations and expenditures         ment, then reviewed by the
                              keeps those of us involved in      state’s Advisory Council on
Background Checks—        2
OMB Fiscal Policy 112         state fiscal operations busy       Revenue Forecasting.
                              during the interim. As we de-
New Employees in          3                                           The Advisory Council on
Fiscal Management             velop the Governor’s budget
                                                                 Revenue Forecasting is com-
Distinguished Budget      4
                              proposal, our focus is on the
                                                                 prised of legislators, profes-
Presentation Award            expenditure side of the budget
                                                                 sional staff from the Tax De-
Certificate of Achieve-   4   as well. However, that is only                                        revenue forecast, along with
                                                                 partment and OMB, econo-
ment for Excellence           half of the budget. The other                                         various statutory changes.
                                                                 mists, and representatives of
GL Workflow               4   half is the revenue forecast.
                                                                 various industry sectors that           Even though care is taken
Top 10 Reasons to         5        The revenue forecast dic-     contribute to the North Dakota     to develop the best forecast
Direct Deposit                tates the level of spending as     economy. Their input is used       possible, it is not an exact sci-
FIN 9.0 Upgrade           5   any budget proposal or legisla-    to refine the economic projec-     ence and actual collections will
                              tive appropriation must be bal-    tions to fit the North Dakota      never match projections. For-
Promotional Agencies— 5
OMB Fiscal Policy 207         anced, i.e. expenditures may       economy. Economic projec-          tunately, in the current bien-
Reimbursement             6   not exceed revenues. Conse-        tions, along with current tax      nium, economic growth has
Rates— OMB Fiscal             quently, care is taken to de-      rates and other statutes, are      outpaced the forecast and we
Policy 505
                              velop a revenue forecast that is   then used by the Tax Depart-       are enjoying a revenue surplus.
                              reasonable and based on sound      ment and OMB to develop the        Through September 2007, ac-
                              assumptions. In order to en-       revenue forecast for the up-       tual collections are approxi-
                              sure this takes place, the state   coming budget period. Prior to     mately 17.0 percent ahead of
                              uses an outside consultant,        the end of the legislative ses-    projections.
                              Moody’s under          sion the legislature adopts the

                                                  Budget: a mathematical confirmation of your suspicions.
                  FISCAL MANAGEMENT NEW$

                                       BARS—Budget Analysis and Reporting System
                                            Many of you are already          into the Budget Request                age. Previously there were
                                       looking at planning for the           Summary screen. The oper-              “base” budget changes and
                                       2009-2011 biennium budget.            ating subschedule will post            “optional” budget changes
                                       The BARS software will con-           into the Budget Request                with a cost to continue col-
                                       tain only minor changes from          Summary and looks very                 umn. Instead, there will now
                                       what you’ve seen in the past,         similar to the other subsched-         be a “cost to continue”
                                       with most screens looking             ule screens. To provide more           change type. We are cur-
                                       virtually the same. The most          input consistency, we have             rently testing these changes
New “Operating” subschedule            noticeable change will be the         also added one additional              as well as updating reports.
is the most noticeable                 addition of a new                     budget change type. There-             If there are any other issues
change.                                “Operating” subschedule.              fore all changes from the              you wish to have us address,
                                       Users will no longer input            current appropriation will be          please contact your budget
                                       budget request data directly          made through a change pack-            analyst.

                                       Spread Your Budget in PeopleSoft Yet?
                                            Agencies interested in                Having your budget spread         late the first four columns
                                       spreading their budgets in            in PeopleSoft provides several         with the data needed, includ-
                                       PeopleSoft can get their              conveniences. Monthly expen-           ing column (04) 2007-2009
                                       budget numbers downloaded             diture reports will include the        Biennium Appropriation.
                                       from BARS into an Excel               total budget by account code,          This will save agencies time
                                       template. Modifications can           the biennium-to-date budget            in beginning the budget re-
Agencies can get their budgets         then be made in the spread-           and the budget remaining to            quest since the current appro-
downloaded from BARS into              sheet to reallocate the budget        date. Although we have just            priation column must be
Excel.                                 between the appropriate de-           completed a legislative session,       completed prior to any other
                                       partment IDs and account              soon, we’ll be preparing budg-         data input. If you would like
                                       codes to account for legisla-         ets for the 2009-2011 bien-            to receive a download of your
                                       tive changes and redistribu-          nium. With the budget spread           budget, please contact your
                                       tion between additional de-           in PeopleSoft, the expenditure         budget analyst.
                                       partment IDs.                         downloads to BARS will popu-

                                      Background Checks—OMB Fiscal Policy 112

                                           Effective August 1, 2007 - Prior to giving an individual security access to personal informa-
                                      tion in PeopleSoft, if that person did not have access to personal information in PeopleSoft as of
                                      July 31, 2007, a background check is required. For the purpose of this policy, personal informa-
                                      tion is defined as having access to the HRMS/Payroll application; vendor information or one-
As of July 31, 2007, a back-          time payment entry or inquiry. For PeopleSoft Financials, security roles requiring a background
ground check is required.             check are noted with an * on SFN 54418, ConnectND Financials Security Access Request.

     Page 2                      If a person gets his attitude toward money straight, it will help straighten out almost every other area in his life.
                                                                                                              FISCAL MANAGEMENT NEW$

New Employees In Fiscal Management
Since the last publication, Fiscal Management has eight new faces!

     Tammy Dolan began working as a Budget Analyst for OMB in May of 2006. Previously she was
employed by for Workforce Safety and Insurance for 14 years and the State Auditor’s Office for 2 years,
recently completing 17 years of employment with the State of North Dakota. It’s great to have you on
our budget team, Tammy!

     Lynn Gronvold started her work as Administrative Assistant for OMB in September of 2006. Prior
to starting with OMB she worked for the North Dakota Extension Service. Lynn is the primary recep-
tionist, customer service program administrator for the state’s P-card program, and she serves as risk
management and wellness coordinator. Great to have you with us, Lynn!

    Renae Heller transferred to OMB’s Fiscal Management Division in October of 2006, after working
7 years for the Risk Management Division. She is an Administrative Assistant and supports the Compre-
hensive Annual Financial Report (CAFR) project. We’re glad to have you with us, Renae!                                         Our work
    Jeff Pospisil, Account Budget Specialist, started his employment with OMB in October of 2006.                                is the
He works with the CAFR and SEFA, in addition to providing end user support for PeopleSoft. Before                             presentation
coming to OMB Jeff spent 4 years working in the State Auditor’s Office. Welcome aboard, Jeff!
                                                                                                                                 of our
      Lynn Shannon-Gall began her work with OMB in December of 2006. As Administrative Officer II
her primary responsibility is with accounts receivable but also works with the accounts payable and gen-
eral ledger module. Lynn worked 20+ years for the Department of Transportation before coming to
OMB. Welcome to the OMB team, Lynn!

     Vonnie Grinsteiner has been with OMB since February of 2007. As a State Payroll Administrative Officer, she is responsible for tasks
related to statewide payroll administration. Vonnie has worked for the State for 10 years, spending 14 months at the Attorney General’s
office prior to starting at OMB. She has also worked for Job Service North Dakota and Bismarck State College. We’re happy to have you
on our team, Vonnie!

     Sheryl Haldorson started her employment with OMB in April of 2007. She is a State Payroll Specialist, currently handling our
agency’s payroll and benefits, in addition to doing payroll for several small state agencies. Sheryl came to OMB from the North Dakota
State Library, where she spent 10-1/2 years. It’s great to have you on board, Sheryl!

    Lori Anderson, Administrative Assistant, joined OMB in October of 2007. Lori came to OMB from the Public Service Commission
where she worked for 6 years. She has been in ND state government for 25 years, also having worked for the Dept. of Public Instruction and
Job Service North Dakota. She is assistant to Pam Sharp and Sheila Peterson. Welcome Lori!

        Pictured from L to R: Renae Heller, Lori Anderson, Lynn                Pictured from L to R: Vonnie Grinsteiner, Jeff Pospisil,
        Gronvold, Sheryl Haldorson                                             Lynn Shannon-Gall, Tammy Dolan

    Page 3             Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.
                   FISCAL MANAGEMENT NEW$

                                 Distinguished Budget Presentation Award
                                      In October of 2007, the    OMB; and is the only gov-         sible for preparing the award
                                 Distinguished Budget Presen-    ernmental entity in the state     winning budget documents.
                                 tation Award was presented      to receive this award. It re-          The Government Fi-
                                 to the North Dakota Office of   flects the commitment of          nance Officers Association is
                                 Management and Budget           OMB to meet the highest           a non-profit professional as-
                                 (OMB) by the Government         principles of governmental        sociation serving 16,800 gov-
                                 Finance Officers Association    budgeting.                        ernment finance professionals
                                 of the United States and Can-        A Certificate of Recogni-    throughout North America.
                                 ada (GFOA) for its 2007-        tion for Budget Presentation      The GFOA’s Distinguished
                                 2009 biennial budget docu-      was also presented to Joe         Budget Presentation Awards
OMB is the only govern-          ments.                          Morrissette, Tammy Dolan,         Program is the only national
mental entity in the state            The award represents a     Lori Laschkewitsch and            awards program in govern-
to receive this award.           significant achievement by      Sandy Deis for being respon-      mental budgeting.

                                 Certificate of Achievement for Excellence
                                      In August of 2007, the     mental accounting and finan-      high standards of the program
                                 Certificate of Achievement      cial reporting, and its attain-   including demonstrating a
                                 for Excellence in Financial     ment represents a significant     constructive “spirit of full
                                 Reporting was awarded to        accomplishment by a govern-       disclosure” to clearly com-
                                 North Dakota Office of Man-     ment and its management.          municate its financial story
                                 agement and Budget by the            An Award of Financial        and motivate potential users
                                 Government Finance Officers     Reporting Achievement was         and user groups to read the
                                 Association of the United       awarded to Eileen Holwegner,      CAFR.
                                 States and Canada (GFOA)        Jill Schafer, Becky Deichert,          The GFOA is a non-
This award is the highest        for its comprehensive annual    Renae Heller, Toby Mertz and      profit professional organiza-
form of recognition in the       financial report (CAFR). The    Jeff Pospisil for preparing the   tion serving government fi-
area of governmental             Certificate of Achievement is   award-winning CAFR.               nance professionals with of-
accounting and financial         the highest form of recogni-         The CAFR was judged by       fices in Chicago, IL and
reporting.                       tion in the area of govern-     an impartial panel to meet the    Washington, DC.

                                 GL Workflow

                                      We are very close to implementing General Ledger Workflow which is an electronic
                                 approval process for journals created in general ledger. This functionality will allow state
                                 agencies to create and post a general ledger journal and will show who created and approved
                                 it. We will deploy GL workflow agency by agency and you will be contacted by OMB for
                                 training when the time comes.

     Page 4                                           Pleasure in the job puts perfection in the work.
                                                                                            FISCAL MANAGEMENT NEW$

                             Top 10 Reasons to Direct Deposit

                                  ♦    It’s convenient. You don’t have to go to the bank to cash your
                                  ♦    It’s safe. No more lost, stolen or misplaced checks.
                                  ♦    It’s reliable. Your money will be available the day of the pay-
                                  ♦    It saves time. Did you know that people spend as much as 24
                                       hours each year waiting in line to cash their paychecks?
Direct Deposit                    ♦    It’s automatic. You can get your paycheck even when you are
                                       out sick or out of town – reassured that the checks you’ve writ-
     It’s easy—                        ten will clear.
click on this link—               ♦    It helps you manage your money. You can have your money
   submit form—                        deposited into multiple accounts at multiple banks.
no more worries!
                                  ♦    It’s flexible. Direct deposit can be changed at any time. You                     can switch the percentage deposited into your bank account(s)
    eforms/doc/                        simply by contacting your payroll personnel.
   sfn50428.pdf                   ♦    It’s bank smart. With an ATM card you have access to your
                                       funds 24 hours a day, 7 days a week.
  Or contact your
 payroll personnel                ♦    It’s peace of mind. During a physical and/or natural disaster
    for further                        when printing or mail service is unavailable, direct deposit will
   information.                        be the only viable method of payment through which you can
                                       receive your paycheck.
                                  ♦    It’s green friendly. Your employer doesn’t have to purchase the
                                       paper and envelopes to print and mail your paycheck.

                             FIN 9.0 Upgrade
                                 The State, University System and ITD are in the process of upgrading the PeopleSoft
                             Financial application to version 9.0 (we are currently running version 8.4). At the same time,
                             SQL server will be upgraded from version 2000 to 2005. Estimated completion date for each
                             is April 2008.

                             Promotional Agencies—OMB Fiscal Policy 207
                                  All agencies listed in policy 207 are required to complete SFN 58670, Promotional
                             Agency Request and submit it to OMB. An agency currently not listed in policy 207 can ap-
                             ply to be classified as a promotional agency by completing SFN 58670 and submitting it to
                             OMB. A committee will review the agency request and determine if they should be classified
Promotional Agency Request
SFN 58670                    as a promotional agency.

   Page 5
                  FISCAL MANAGEMENT NEW$

Prepared by:                                 The mission of OMB is to provide a range of products
ND Office of Management and Budget
600 East Boulevard Ave. , Dept. 110          and services resulting in a well run government that
Bismarck ND 58505-0400

Phone: 701-328-2680
                                             meets the needs of the North Dakota citizens. Fiscal
Fax: 701-328-3230
Web site:
                                             Management coordinates budgeting, accounting, pay-
                                             roll, and financial reporting functions for North
                                             Dakota state government agencies.
                   If you have any questions or comments concerning this newsletter, please call 701-328-4904.

Reimbursement for Meals and Lodging—OMB Fiscal Policy 505

     Reimbursement rates for meals and            will be reimbursed $55 plus (55 /        of $10. Parking fees may be claimed only
lodging changed effective August 1,               65 x 13) = $11 for taxes.                with a receipt from a hotel/motel or air-
2007. The in-state expense allowance for                                                   port.
                                                  Out-of-State Lodging: Actual lodg-
each quarter of any 24-hour period is as
                                                  ing expense.                                  For a complete copy of OMB Policy
                                                                                           505, and other Fiscal Management Poli-
                                                  Out-of-State Meal Allowance
1.   6 a.m.—12 noon              $5.00                                                     cies, visit our website at http://
                                              Rates that became effective October 1,
                                              2007 can be found at
2.   12 noon—6 p.m.              $7.50
                                              fiscal/docs/perdiem2008.pdf. A reminder
3.   6 p.m.—12 midnight $12.50
                                              that Out-of-State meal reimbursement
4.   In-State Lodging: Maximum of $55         rates are reimbursed at 20%, 30% and
     plus any additional applicable state     50% of the GSA daily rate.
     and local taxes on lodging. If the
                                                   Verification of claims via receipt is
     room is more than $55, the individ-
                                              not required for the first three quarters
     ual may only be reimbursed for the
                                              but is required for lodging (see Policy
     additional taxes based on $55, and
                                              513 also). Receipts are also required for
     the additional taxes must be pro-
                                              each taxi fare in excess of $10 and for
     rated. For example, if the room is
                                              other miscellaneous expenses in excess
     $65 and taxes are $13, the individual

     Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments
          toward organizational objectives. It is the fuel that allows common people to attain uncommon results.
                                                                                                               Andrew Carnegie

To top