FST ROUND TABLE October 21, 2015 2:00pm to 3:30pm Strathcona Anatomy & Dentistry Building, Faculty Council Room M/48
Agenda 1. Announcements, Updates & Reminders 2. Compliance Results Tri-Agency Audit Simulation 3. Best Practices Faculty of Law 4. Quarterly Internal Services Expenditures & PO Variance Reports 5. New FFM/PI/Delegate Approval Queues in MOPS for PCard Transactions 6. Open Dialogue / Q & A / Closing Comments
Staff Announcements Staff Announcements Welcome back Oksana Vasilik, Supervisor Nivethika Kandasamy, Financial Administrator, SSHRC Grants, SSHRC Inter-Institutional
FST Round Table Slides & Schedule https://www.mcgill.ca/research/ran/members/financial-services-teams-fst
How FST Jurisdiction is Assigned WHAT WHO HOW EXAMPLE Assign FFM to FST Financial Officer Minerva FST Administration Menu Prof Cooper ENG01 View FST by Fund Code All FTMFUND McGill Fund Options Prof Cooper s Funds: 224571 ENG01 (default) 210802 ENG01 (default) 213895 ENG01 (default) Override or Disable FST for a Fund Code Financial Officer Email Fissecurity.acct @mcgill.ca FTMFUND McGill Fund Options 224571 ENG02 (override) For more info, please visit: www.mcgill.ca/financialservices/ffo
Honouring on-going salary commitments after PI resigns Grant will be terminated as of the end date of the PI s appointment with the University Tri-Agencies will honour on-going commitments of salaries encumbered prior to the end of the grant. Example: PI resigns from McGill as of February 28 th. PI will no longer be eligible to incur new expenses as of that date. However, the agency may authorize that a commitment (usually student salaries) made prior to February 28 th to continue to be paid (up to 6 months following the PI s resignation).
Honouring on-going salary commitments after PI resigns (cont d) Scenario: PI has offered a stipend to a student for $20,000 for the period of January 1 to December 31 but he terminates from the University as of February 28. Can he still pay the student the $20,000 in the 8 month period (i.e. 6 month phase out ends August 31)? Answer: The stipend in the amount of $20,000 needs to be pro-rated to reflect 6 months as of March 1. The PI can only pay the student for 6 months from the date of departure (i.e. $20,000/12 x 6 months) for a total of $10,000. The balance can be paid from another funding source.
Terminating Funds Emails will be sent to all Grantees/FST for all funds with an end date of March 31, 2016. This will be done by mid-november.
Travel Desk Updates Expense Report Signatures All EXRs must be signed by the claimant and the PI/FFM ONLY in cases where PI is on sabbatical and/or not living in Montreal, an email approval will be accepted Email approval must include sufficient info to tie it back to the claim amount, claimant, ER number and pdf copy of claim to be attached Email must also include attestation note disclosed per the expense report
Travel Desk Updates Expense Report Signatures (cont d) In cases where the approver is away at a conference, or away for a short period, it is recommended to use the delegation menu In all other cases, email approval is not an acceptable method for simply a matter of convenience The approval process vis-à-vis signature vs. email approval is currently under review. Until further notice, it is status quo.
Travel Desk Updates FST Claims Change in Process Effective November15 th, Travel Desk will no longer be performing cursory reviews on claims approved by the FST Link: https://www.mcgill.ca/research/ran/members/financia l-services-teams-fst/2015-fst-round-table
Travel Desk Updates FST Claims Change in Process Expense Report stamp with your initials signify that you are certifying that the ER complies with University policy and/or Granting Agency Guidelines
TRI-AGENCY AUDIT SIMULATION Samples were selected from all 11 faculties The review of supporting documentation has been completed We are currently compiling the results A preliminary assessment shows that the overall University performance is favorable Final results will be communicated by the end of October Transaction streams with highest non-compliance: o o o Appointment Forms Journals Feeds/IDCs The major finding is Missing PI approval
TRI-AGENCY AUDIT SIMULATION Appointment Forms Offer Letters must be signed by the Principal Investigator (PI) or co-signed with the Chair and/or HR representative There must also be a PI confirmation of the fund to charge including labour distribution percentage/s Any subsequent changes in labour distribution must be supported with the PI s approval Electronic or digital signatures are not acceptable Journal Vouchers Ensure eligibility of the item to be reclassified prior to processing the entry PI approvals are required and must be retained in a central repository Email approvals are acceptable
FST Presentation Faculty of Law Best Practices Presentation: Fund Reconciliations
Fund Reconciliations Fund Balances and Profiles by Financial Manager - Crystal Report The FFMs are able to easily access this report and are able to quickly review their fund balances and expenditures Depending on their concerns I produce a detailed report for them example: Payroll, BSA, Outstanding Advances, Commitments. A PDF format of this report is emailed to the FFM s bi-monthly
Fund Reconciliations Perform monthly reconciliations for Operating Funds under the jurisdiction of the Dean This allows me to make sure that all expenses are related to the Faculty s operating activities Perform monthly reconciliations on problem Grants Some grants require more attention to ensure that the funding is spent and that the expenses are eligible and compliant with sponsor regulations
Fund Reconciliations In my role as FST I train other areas in the Faculty to prepare reconciliations under their jurisdiction for the Dean to approve. Institute of Air and Space Law Paul-André Crépeau Centre for Private and Comparative Law Centre for Intellectual Property (CIPP) Centre for Human Rights and Legal Pluralism (CHRLP) Career Development Office
Sample of Reconciliation Fund 151300 Faculty of Law Operating Fund Analysis as at August 31, 2015 Commitments $10,000.00 Expenses 2014-2015 $2,009,999.00 Budget 2014-2015 ($2,000,000.00) Balance as at April 30, 2015 $19,999.00 over-spent Commitments as at August 2015 $80,000.00 Expenses: May 31, 2015 $89,700.00 June 30, 2015 $76,601.00 July 31, 2015 $101,623.00 August 31, 2015 $132,824.00 Budget 2015-2016 ($1,000,000.00) Balance as at August 31, 2015 ($519,252.00) balance
Fund Reconciliations The reconciliation includes the following: Monthly Fund Details (FZRG0021/FZRG0049) Review and Authorization stamp
Reconciliation Prizes and Scholarships This reconciliation is given to the Dean at the beginning of April before the awards are given and at the end of December once they have been processed.
Reconciliation Prizes and Scholarships Group Reconciliation Prizes and Scholarships April 30, 2015 Fund Fund Title Budget 2015-2016 Prior Year Surplus/Deficit Commitments Expenses Awardee Balance Comments Dean's Comments Summer 2013 internship to be charged to this xxxxxx Lord Reading Soc. Human Rights Bursary 0.00 0.00 0.00 0.00 John Doe 0.00 balance before the end of Fiscal Year 13 Endow xxxxxx William Kagan Memorial Prize 0.00 0.00 0.00 0.00 Capitalization 0.00 Prize on hold until fund accumulates $500 xxxxxx Toronto Alumni 150th Anniver Entrance Scholarhip award full amount in August Scholoarship 0.00 0.00 0.00 0.00 John Doe 0.00 2013 Entrance Scholarhip award full amount in August xxxxxx Stanley Kandestin, Q.C. Prizie 0.00 0.00 0.00 0.00 N/A 0.00 2013 John Doe and John xxxxxx Blake Cassels & Graydon LLP Scholar 0.00 0.00 0.00 0.00 Smith Summer 2013 internship to be charged to this xxxxxx Nancy Park Memorial Prize 0.00 0.00 0.00 0.00 John Smith 0.00 balance before the end of Fiscal Year 13 xxxxxx Setsuko Ushioda-Aoki Prize 0.00 0.00 0.00 0.00 N/A 0.00 Prize on hold until fund accumulates $500 Summer 2013 internship to be charged to this xxxxxx Lindsey Anne Cameron Award 0.00 0.00 0.00 0.00 Mary Smith 0.00 balance before the end of Fiscal Year 13 xxxxxx Steve and Rob Michelin Scholarships 0.00 0.00 0.00 Mary Smith and 0.00 John Dow Entrance Scholarhip award full amount in August 0.00 2013 xxxxxx Stephen A. Scott Award in Law 0.00 0.00 0.00 0.00 John Doe 0.00 N/A xxxxxx Brett Code Scholar Criminal Law 0.00 0.00 0.00 John Smith 0.00 N/A 0.00 N/A Prepared by: Pina Ricco Reviewed by: Debbie Carlone Approved by: Dean Daniel Jutras
FST Manager I want to acknowledge my administrator Sabrina Falco who is a valuable member of my team.
Approving PCard transactions which have been reconciled in MOPS
The PCard Requirement The Tri-Agency Requirement is: Transactions must be approved by the Fund Financial Manager (FFM) or the FFM s delegate prior to being posted to a Tri-Agency fund. STEP 2: Reconcile the transaction in MOPS STEP 1: Make a purchase using PCard STEP 3: Approve the transaction in Minerva STEP 4: Transaction is posted to the ledger
STEP 2: Reconcile the transaction in MOPS. Minerva updates the transaction status. STEP 3: Transaction arrives in Approver s queue. AUTO-APPROVED APPROVED DISAPPROVED POSTED TO DEFAULT FUND Transaction is automatically approved when the Reconciler in MOPS is the FFM or the FFM s delegate. Transaction posts to CORRECT FOAPAL. Approver approves the transaction. Transaction posts to CORRECT FOAPAL. Approver rejects the transaction (w/ explanation) Transaction appears back in MOPS. Approver does not approve within specified timeframe. Transaction posts to DEFAULT FOAPAL. (Default FOAPAL Tri- Agency Grant)
Approving PCard transactions which have been reconciled in MOPS Where do you approve reconciled PCard transactions? New Approvals menu item in the Finance (Fund) Administration Menu Who has access to approve reconciled PCard transactions? Fund Financial Manager (FFM)/Principal Investigator (PI) of the fund(s) charged Approval Delegates as per Procurement Administration Menu
Approving PCard transactions which have been reconciled in MOPS Are Approvers notified when there are pending transactions to be approved? YES system generated emails Is it possible to see the approval history of a transaction? YES
Approving PCard transactions which have been reconciled in MOPS Have any changes been made to the MOPS menu? NO Do PCard Holders and/or PCard Administrators need to request additional access? Only if they should be considered Approvers and do not fall into one of the two categories for who has access to approve reconciled PCard transactions.
Upcoming FST Meetings Upcoming FST meetings Faculty of Next Meeting Date Time Location Room December 2, 2015 2:00pm 3:30pm Strathcona Anatomy & Dentistry M/48 The FST meeting schedules for 2015 & 2016 is posted on the RAN site https://www.mcgill.ca/research/ran/members/financial-services-teams-fst
OPEN DIALOGUE