presentation by the college of arts & sciences deans...
TRANSCRIPT
Presentation by the College of Arts & Sciences Dean’s Office Finance Team
How to Access School ReportsVia the College Intranet• College.unc.edu Business Operations
Intranet CAS Reporting Systems
Via Infoporte• Infoporte.unc.edu Home Tab
School Reports Tab
Summary Report: State, F&A, TrustThis report is a summary of the state, F&A, and trust budget, expenditures, encumbrances, projections and balance at a point in time.
◦ Please note that Contracts & Grants are not included in this report.
Summary Report: State, F&A, TrustTo view a
specific fund
type, select
here
Select your
Department
Select the
Budget Period
The report will break out each chartfield string within your department along with the source & program description.
Current
Projected
Balance for
that specific
source
-For academic departments with carryover salary savings available on program code 10000 will be reflected with a ‘CO’ at the end of the state chartfield string.
Negative balances will be
reflected in red cells
Summary Report: State, F&A, TrustGood to know:◦ State & E&T funds do not reflect fringe benefits. You can view state fringe benefits by selecting
the ‘Fringe Only’ tab.
◦ You can view detailed transactions by selecting the ‘Detail’ tab
◦ To view additional information on the report and more helpful tips, select the ‘Glossary’ tab◦ YES! You can export these reports to excel by right clicking within the report and selecting ‘Export’.
Expenditures by Fund Type SummaryThis report provides a summary of the total expenditures by the department at a certain point in time.
The columns reflect the source of funds and the rows break out the expenditure by classification (examples are non-teaching & teaching salaries, supplies, etc.)
Expenditures by Fund Type Summary
The rows will be broken out by Account Levels – this view will show the breakdown between Personnel & Non-Personnel
The columns will be broken out by Fund Type (State, F&A, Trust, Auxiliary, & Contracts & Grants)
Select your
DepartmentFiscal
YearFund Type
Indirects Cost Formula Allocation Report Uses
Summarizes the formula allocation for all projects Formula allocation = F&A generated by indirect cost expenses on a project (current rate is 15.6%) Indirect Cost = an general expense that is not identified with a particular contract/grant, project function or activity, but is necessary for
general operation
Filters: “Project Dept” shows the formula allocation to the department where the project is housed
“PI Home Dept” shows all formula allocations for a specific PI regardless of owning department This allows you to see the formula allocation for faculty based in your department
“PI Name” allows you to search for specific faculty PI
Allocate the faculty’s formula allocation to his/her program code
Track how much budget you should receive or allocate for faculty working on projects in other departments
Total Dept Allocation shows
amount allocated to F&A for
formula allocation, indicated
with Reference 1 ‘FORMALLOC.’
Indirects Cost Formula Allocation
Choose
Fiscal
Year
Endowment Market Values Report UsesShows what the expected payout is based on current market values
◦ Choose “month 05” to see prior June payouts
Track historical payouts
Track reinvestment patterns (Non-Donor Book Value column)◦ 7xxxx sources: If money has been reinvested, you can submit a “University Endowment Fund
Withdrawal” form to request the cash◦ https://financepolicy.unc.edu/policy-procedure/405-endowment-fund-addition-correction-and-withdrawal/405-1-adding-and-
withdrawing-endowment-funds/
Compare market value and book
value to ensure market value is
higher otherwise it’s underwater
and unavailable for use until it’s no
longer underwater
Shows anticipated amount for
payout for use the following
year.
Donor Book Value: Initial donation(s)Non-Donor Book Value: Amount ReinvestedDonor Market Value: The market value of the donation(s)Non-Donor Market Value: The market value of the reinvestments
Endowment Market ValuesChoose
Department
Choose one
Fiscal Year
and Month
Underwater Status◦ Not Underwater: Total Market Value > Total Book Value – Will receive full payout
◦ Fully Underwater: Total Market Value < Total Book Value and payout is less than the difference between total book value and total market value – Will not receive payout
◦ Partially Underwater: Total Market Value < Total Book Value but payout is greater than the difference between total book value and total market value – Will receive partial payout◦ Will receive payout less the difference between total market value and total book value
◦ Ex. $7.173.81 – ($143,474 - $139,920.34) = $3,620.05 payout
Trust Funds by owning DepartmentUnderstanding the source of data
Understanding the columns
Understanding the use
Trust Funds by Owning DepartmentSource of Data
Shows data on a fiscal year basis
Shows all sources that your department owns ◦ The department has control over the use within confines of the gift agreement
Shows cash balances (not budget)◦ May match budget if you own the source (as long as everything was coded properly)
Trust Funds by Owning DepartmentOpening Fund Balance
Shows carryover cash balance from previous fiscal year selected◦ Carryover includes payout if 7xxxx source
Trust Funds by Owning DepartmentRevenue
Shows total cash revenue by source for fiscal year selected separated into broad categories
◦ Gifts Revenue (46xxxx): Gifts given
◦ Investment Revenue (43xxxx): Money market income and payout (7xxxx sources)
◦ Revenue Transfers (48XXXX): Cash transferred in (ie: commitment from another source or department) and reinvestments (for fund group: 298 and 29910)
◦ Other Revenue: Cash transferred in (not falling in other categories)
◦ Alloc from Related Fdtn 462180: Foundation payout (Cxxx and Uxxx sources)
Trust Funds by Owning DepartmentExpenses
Shows total expenditures by source for fiscal year selected separated into broad categories
◦ Expenses: Personnel and non-personnel charges
◦ Expenses Transfers 58xxxx: Cash transferred out (ie: commitment to another source or department) and reinvestment expense
◦ Alloc to Univ 559139: Foundation payout expense (Fund group: 29920 and 29930, Cxxx and Uxxxsources)
Trust Funds by Owning DepartmentEnding Balance
Shows ending cash balance ◦ Does not take into account budget
Category Operation Amount
Opening Fund Balance 398,689.83
Total Revenue + 340,050.96
Total Expenses - 372,684.95
Ending Fund Balance = 366,055.84
Trust Funds by Owning DepartmentFormulas
Years of Payout Available: Calculates the number of years of payout ◦ Goal: <2 unless there is a specific reason to hold onto payout for several years
% of Total Expenses Used: Calculates the percentage of expenditures relative to payout◦ Goal: >50% unless there is a specific reason to hold onto dollars for more than one year
Years of Payout Available: Percent Total Expenses Used:Category Operation Amount
Ending Fund Balance
212,000
Investment Rev/Alloc from Related Fdtn
÷ 200,000
Years of Payout = 1.06
Category Operation Amount
Total Expenses 228,560
Investment Rev/Alloc from Related Fdtn
÷ 200,000
Percent Total Expenses Used
= 114.28%
Trust Funds by Owning DepartmentAdditional Tabs
Shows total expenses by source by transaction department for fiscal year (who spent the money)
**This information shows you that several different departments spent from this fund, this could be okay or could need correction.
Trust Funds by Owning DepartmentUses
◦ To see cash balance in source
◦ To see if you own a source (all sources that appear are ones the department owns)
◦ To verify cash is available for spending or transferring
◦ To verify source is not in a cash deficit
◦ To decide whether reinvestment is needed by using years of payout available calculation and ending fund balance
◦ To look at past history on amount of revenue, amount of expenses, amount of reinvestments
◦ To verify budget reflected in InfoPorte is accurate (if department owns source and on associated revenue table)
State Funds Carryover with Projections
Choose
Fiscal YearChoose Department
Choose EHRA Faculty
and EHRA Non-Faculty
(exclude fringe)
Tuition, fellowship and
nonpersonnel expenses
are not allowed on
C1302.
Carryover Balance
• Summarizes the state budget and expenditures of EPA salary dollars (on program 10000, C1302
and C1303) at a point in time. The total of the budget available at year-end will be carried over to
the next fiscal year (i.e. added to or deducted from your instructional allocation).
The Dean’s Office allocates Chair’s summer
salary to the EHRA Non-Faculty line so make
sure that you have correct amount for their
summer salary remaining here to be paid
out in June.
State Funds Carryover with Projections
Uses
◦ Used by Academic and Curriculum Departments that have C1302 and C1303
◦ The total of the budget available at year-end will be carried over to the next fiscal year (i.e. added to or deducted from your instructional budget)
◦ Used to see if there are any salary savings that need to be moved from state program 10000 to C1302 or C1303
◦ It’s useful when doing Instructional Workload to verify the amounts that are in the report.
State Funds Non-Carryover with ProjectionsChoose
Fiscal YearChoose
Department
Choose all options except
fringe benefits (fringe
benefits are excluded
because they are covered
by the fringe pool)
Non-Carryover Balance
(Funds expire 6/30)
• Summarizes the state budget and expenditures for all non-carryover funds at a point in time (including start-up) • Used to see how much state funding you have available to spend before the end of the fiscal year• The Dean’s Office will seek reimbursement for deficits totaling $500 or more at the end of the fiscal year
State Funds Perm EHRA Salary SavingsChoose
Fiscal Year
and
Projections Choose
Department
Total amount of
salary savings
available to be
transferred to your
instructional budget.
Shows the total
amount of salary
savings per person.
State Funds Perm EHRA Salary SavingsUses
◦ Used by Academic Departments with carryover instructional funds (program C1302)
◦ Shows the permanent state budget allocated by person to program 10000.
◦ The report takes the permanent budget minus expenses and projections to calculate the total available salary savings that can be transferred to your instructional budget
◦ This report does not take into account temporary budget adjustments made for a person during the year (i.e. hires or increases that are effective January 1). The report will pick up the permanent budget amount, which is the total amount for the entire year instead of the amount for half of the year.
◦ For example, if you have a new faculty member that is hired effective January 1, 2018 with a salary of $100,000 the faculty member is only going to earn $50,000 for fiscal year 2018, the report is going to show available savings of $50,000 because we will allocate $100,000 permanently when we transfer the budget.
State Funds Perm EHRA Salary Savings EHRA Non-Faculty Stipends
o Can be used to see how much permanent administrative stipend funding has been allocated to your department
o The Dean’s Office allocates stipend funding to the various types of administrative positions (such as AsstChair, Chair Stipend, Asst Chair, DGS, etc.) instead of to the actual people that are in these positions.o There will not be amounts for expenses or projections on the position lineso The individuals that are receiving the stipend will have a line with no budget, but will have expense
and projection amountso The Balance less Projections column should net to zero for the position lines (where the budget is
allocated) and the actual stipend expense line (as shown below)
Smith
Jones