Impact of Credit Crisis - Jackson State University

Impact of Credit Crisis - Jackson State University

Jackson State University Office of Budget & Financial Analysis (OBFA) Understanding Budget and Position Control 1 How to contact OBFA Location H. P. Jacobs Administrative Building 5th Floor

Staff Tammiko L. Harrison, Executive Director [email protected], 979-2345, Room #513 Latashia Chambers, Budget Analyst [email protected], 979-2936, Room #514 Tina Collier, Budget Analyst [email protected], 979-2938, Room # 515 2 Training Objectives To provide a basic overview of the Accounting System

used at Jackson State University (JSU) To learn the definitions and uses of each element of a FOAP(al) To provide a general overview of Position Control Describe how this information can be used by various departments/divisions 3 Budget and Position Control Quiz Which letter should be used for the Chart of Account?

a) B b) J c) T 4 Budget and Position Control Quiz Which letter should be used for the Chart of Account? a) B b) J c) T

5 Budget and Position Control Quiz A position control number is ___ characters? a) 6 b) 4 c) 2 6 Budget and Position Control Quiz

A position control number is ___ characters? a) 6 b) 4 c) 2 7 Budget and Position Control Quiz In P.A.W.S/Banner, the account code refers to ? a) Department/Division (art or music)

b) Expense Category (travel or supplies) c) Position control # 8 Budget and Position Control Quiz In P.A.W.S/Banner, the account code refers to ? a) Department/Division (art or music) b) Expense Category (travel or supplies) c) Position control #

9 Budget and Position Control Quiz Which is not an element of the FOAP(al)? a) Program b) Foundation c) Activity 10 Budget and Position Control Quiz

Which is not an element of the FOAP(al)? a) Program b) Foundation c) Activity 11 Budget and Position Control Quiz An "organization" can have more than one "fund"?

a) True b) False 12 Budget and Position Control Quiz An "organization" can have more than one "fund"? a) True b) False

13 Budget and Position Control Quiz Financial Information is the same in Banner & P.A.W.S ? a) True b) False 14 Budget and Position Control Quiz

Financial Information is the same in Banner & P.A.W.S ? a) True b) False 15 Budget and Position Control Quiz Budget Period #2 refers to ? a) February

b) August c) May 16 Budget and Position Control Quiz Budget Period #2 refers to ? a) February b) August c) May

17 Why is it important to understand budgeting? Evaluate the efficiency of current operations Strategically plan for how we operate in the future

Effectively allocate and use financial resources Help others evaluate the financial operations of the institution 18 Unrestricted and Restricted Funds Unrestricted Funds Do not have external stipulations, but the University may designate these funds for specific purposes.

Restricted Funds External stipulations are imposed on the use of these funds by granting or contracting agencies or donors. All revenues, whether unrestricted or restricted, may only be expended according to University purchasing, approval, and financial policies and procedures 19 Definition of JSU Major Fund Areas

1xxxxx Funds (Unrestricted General) - Major revenues and expenses related to the Universitys primary instructional mission and its support functions (inclusive of designated). 2xxxxx Funds (Restricted Gifts and Grants) - Externally funded sponsored projects that support research, instructional or public service activities related to the mission of JSU.

3xxxxx Funds (Unrestricted Self-Supporting) - Intended to be profit making and/or self-sustaining entities that provide products or services to the Universitys customers. Inclusive of Dining Services, Residence Halls, and Athletic Operations. 20 What is a FOAP(al)? (It is an acronym) F O

A P a l Fund Organization

Account Program Activity Location Used for tracking specific

activities Used for tracking physical location of an asset 6 digits 1-6 digits

Where does the money come from? Who is What kind How does responof transthis sible for action is transaction the taking compare to

money? place? other universities? 6 digits 6 digits 6 digits 2 digits

21 Fund What is the Source? The F in FOAPal stands for Fund and identifies where the money comes from Mandatory and 6 digits One Fund can be associated with many different Organizations 22

Fund What is the Source? Tuition & Fees Investment Income Grants State Support Sales & Services

23 Organization Who is Responsible? The O in FOAPal identifies the Organization (Org) responsible for managing the money Mandatory and 6 digits Follows a structure very similar to the Universitys Organizational Chart One Org can be associated with many different Funds 24

Account - What is the Transaction For? The A in FOAPal stands for Account (Acct) and tells what the transaction is for Mandatory and 6 digits Account Code Categories 5xxxxx - Revenue 6xxxxx - Expense related to employee compensation 7xxxxx - Expense related to operations 25

Program - How Do We Compare? The P, in FOAPal stands for Program (Prg) and identifies the functional purpose of the transaction using the same categories as other universities Mandatory and 2 digits Program Codes - Follow a standardized system of comparable functional categories that are required by the National Association of College and University Business Officers (NACUBO) 26

Program - How Do We Compare? 40-Academic Support 20-Research 30-Public Service 10-Instruction 50-Student Service 60-Institutional Support 91 to 95-Auxiliaries

( Housing, Stadium Dining, Athletics) 70-Facilities 80-Scholarships 27 Activity - Which Specific Project? The 2nd a in FOAP(al) stands for Activity and identifies a specific project or event that is tracked by a

department/division Optional and 6 digits. Activity Codes - Must be carefully and consistently entered by the user to ensure that transactions are accurately recorded for reported. 28 Location - Physical Position The l in FOAPal stands for Location and identifies the true physical position of an asset. Optional and 3-6 digits.

29 Budget Query 101 Step #2 - Click On The Finance Tab Step #1 - Log Into Your JSU P.A.W.S 30 Budget Query 101 Step #4 - Budget Status by Account

Step #3 - Select Budget Queries 31 Budget Query 101 Step #5 Choose Report Display options, then Continue 32 Budget Query 101 Step #6 Populate query parameters, Then Submit Query

1 2 2 3 4 5

6 #1 should always be current fiscal year #3 should always be J 33 Budget Query Results 34 Pending Documents Results

35 Encumbrance Query 101 Step #2 - Populate query parameters, then Submit Query Step #1 - Encumbrance Queries 36 Open Encumbrance Query Results

37 View Document Query 101 Step #2 - Populate query parameters, then View documents Step #1 View Document 38 View Document Query Results 39

Position Control - What and Why? A position is simply a box on a departmental or divisional org chart 2 types of positions Single and Pooled Positions are used to manage employees (faculty, staff, and students) 6 digits. 40 What is a Position Control (pc) # ?

A pc # is a unique, 6 digit number assigned to a specific position A position is budgeted in a department/division. All positions are budgeted to a FOAP. General Numbering Scheme and Funding Begin With 0xxxxx 1xxxxx

2xxxxx 4xxxxx 6Rxxxx SCHxxx/SCGxxx SFWxxx Funded By Educational & General (E&G) Auxiliary Restricted Designated E&G Release Time

Departmental Work Aid Federal Work Study 41 Questions and Answers 42 How to contact OBFA Location H. P. Jacobs Administrative Building 5th Floor

Staff Tammiko L. Harrison, Executive Director [email protected], 979-2345, Room #513 Latashia Chambers, Budget Analyst [email protected], 979-2936, Room #514 Tina Collier, Budget Analyst [email protected], 979-2938, Room # 515 43

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