Corporate Finance (Research)

1. Corporate Finance (Research) Information Session 21 October 2009

2. Agenda Introduction – Danny Sun Opening – Jill Trewhella HERDC 2010 & New Accounts – Tabitha Daines RIMS Data & PeopleSoft Data - Kate Taylor ARC & NHMRC - Carl Nygryn DVCR Funding Update - Sandra Arnaout Research Office Update - Warwick Dawson Q & A

3. Deputy Vice-Chancellor Professor Jill Trewhella

7. HERDC 2010 and New Account Initiatives

8. HERDC 2010 HERDC return Preparing for the year end Checklist 2010 collection process Investment Income Changes to guidelines

9. Preparing for Year End CFR working with BBI to bring you access to the Hyperion HERDC return report. You can run this to manage your accounts on a monthly or quarterly basis Gives you the data instantly that you need to correct miss coding and minimise your work in the new year

11. CFR Initiative*****The HERDC checklist ***** A sound base for a clean HERDC report Simple steps to ensuring the ledger is correct prior to the close Results - less additions, chasing of paperwork and a more accurate, automated report

13. Things to look for • Have shared grants been invoiced for (A6 & N5)? If not this needs to be done as soon as possible using class 2119 • Non research Donation/Bequest income in research Donation/Bequest project code and vice versa (D1, B3)

14. Things to look for (Cont’) • Non research class in research account and vice versa • Keep copies of all invoices to do with research grants as we are often asked to provide them to the auditor

15. The Hyperion report and the Checklist will Minimise your workload in 2010

16. 2010 Collection Process Run the final 2009 income report in Hyperion Drill down by RC/Area using the Hierarchy function Timetable & Expectations from 2009 into 2010 Checklist to work through and for sign off in the actual return due 2010

17. Bequests, Donations and CPT’s CFR will take care of ALL investment income (interest earned on philanthropic accounts) Please only check your NEW philanthropic income received in 2009 Documentation will be required for any unexpected philanthropic income

18. Changes to the Guidelines 2010 HERDC specifications are expected to have some changes that may affect your areas income CFR will keep you up to date as and when we receive INFO

19. New Account Initiatives • Non RIMS New account requests • NEW Project codes • Process for donations and bequests • Invoicing • Project closures • Research Finance Reporting Update

20. New Account Initiatives (Cont’) • Working on process improvements to assist finance staff with management of projects though their lifecycle • Non RIMS New account requests Working with ICT and Advancement Services to standardise process • Developing clear guidelines as to what is required as substantiation etc

21. New Account Initiatives (cont’) • NEW Project code range created to ensure maximum reportable income capture • Codes starting to be utilised now in some areas • Full implementation by end of year

22. New Account Initiatives (cont’) • New project codes for Mixed Funding: RM123 – Research component Paired with GM123 – General (non-research) • Easily recognisable as part of a pair to improve reporting, acquittals etc

23. Split Philanthropic funds D2XXX • In response to HERDC, we identified the need to split Philanthropic funds • NOW we can process your claims for split funding donations • Ensures the accurate split at the inception of the code

24. Opening new D1/D2/B3 accounts • Complete the PeopleSoft ChartField form (under review) • Documentation that substantiates the funds are solely or in part for research • Documentation MUST be from the donor/benefactor • Email: CorpFinance.research@usyd.edu.au

25. Invoicing for Research Funding • Working with Revenue Services • CFR to review data prior to actual invoice creation in PeopleSoft • Safety net for miss allocations • Improves faculties reporting • Time saving for HERDC • Both Faculties & CFR

26. Invoicing for Research Funding

27. Project Closures • New process - Clear, concise instruction • Two simultaneous projects: RO – RIMS Record closures CFR – PeopleSoft Account clearing and closure • New report to assist Hyperion 110/112 – Testing commenced

28. Project Closures • Two simultaneous projects: RO – RIMS Record closures CFR – PeopleSoft Account clearing and closure • New report to assist Hyperion 110/112 – Testing commenced

29. Research Finance Reporting Update • NEW HERDC reports, including pivots combining RIMS and PeopleSoft data for the first time • RIMS Financial data report Testing commenced

30. CFR are here to help Assistance with questions regarding your returned data Help on correct re-coding General advice as you work through the HERDC report and checklist

31. Visits to your area Hands on assistance and guidance For Appointment Email CFR CorpFinance.research@usyd.edu.au Area groups Individual assistance

32. RIMS data & PeopleSoft data • Differences explained (dates/expected income) • PeopleSoft and RIMS data will not be the same – This is not an error • RIMS financial and dates data is indicative • PeopleSoft data is adjusted to the actual award and date as reported in acquittals

38. ARC/NHMRC Managing expenditure in ARC & NHMRC accounts Reporting excess carry forwards Salary supplementation for fellows & ARC expected balance Process for relinquished or transferred grants ARC relocation claims NHMRC equipment grants

39. Managing expenditure To minimise excess carry forwards Carry forwards ARC > 75%, NHMRC >25% Steps to ensure carry-forward amounts are reduced Paying invoices Review 11111 and 00000 Accounts in deficit Meal & entertainment + motor vehicle costs (not allowed) Other unexpected costs

40. Reporting excess carry forwards Where carry forward cannot be reduced Explanation in line with ARC reason code and progress report Excess C/F report – end of October Updated contact list

41. Fellows Salary Supp & ARC/NHMRC expected balance Bridging the gap between granting body funds & fellows’ salaries Balance expected = Matching Duration Deficit balance to be covered by the Faculty DVC(R) salary supp to be allocated at the end of February & October Fellow salary > Granting body funds + DVC(R) sal supp  excess to be covered by the Faculty

42. Process for relinquished & transferred Process is the same in both cases Grants with a fellowship need to be checked by Corporate Finance before submission to the ARC All other grants to the Research Office Calculating the transfer/recovery amount

43. Visualising the time series 15/11/08 1/1/08 31/12/08 1/1/07 31/12/07 30/6/08 1/7/07 1/7/08 30/6/09 Transfer date Unused portion of funding to be returned Legend Calendar year Project anniversary year Transfer date

44. ARC Transfer Form

45. ARC relocation claims Claim must be made within 12 months of relocation Apply through RO Claims & supporting documentation to CFR Claims to be made through Spendvision Conversion rate and date must be provided – Oanda.com (preferred converter) Eligible costs only – refer to ARC funding agreement

46. NHMRC Acquittals Equipment grant Due to be acquitted by November 2009 Faculty Finance Officers will be contacted by CFR for the acquittal statements Other grants Process will start in January 2010

47. DVC-R Funding New Schemes Account Management Changes Refresher

48. New Schemes: Equity Fellowships Laffan Fellowship (Disability) Brown Fellowship (Career Resumption) Thomson Fellowship (Academic Women) up to $60K ($30K per semester) $25K in teaching relief/technical support $5K in research support These are flexible awards and teaching relief periods may not be consecutive

49. Account Management Changes LIEF Accounts : A27 Lead, A28 Non-Lead, R5XXX partner account to collect internal contributions for paying invoices Federation Fellows – All continuing fellows will have individual UXXXX accounts to replace 10041 A movement towards individual accounts for all one-off DVCR funding to help facilitate future implementation of UEM & RIMS

50. USYD Post Doctoral Fellowship