Financial Information and Reporting Project

1. Financial Information and Reporting Project Making Finance Reports work for you Overview of the Financial Information and Reporting Project Presentation to AdminNet members Wednesday 10th  August 2011 Rob Young Project Manager| Finance Email : rob.young@unsw.edu.au

2. Financial Information and Reporting Project Finance Systems Student Administration Calumo NS Financials (nVision) General Ledger updates overnight HRMS / Payroll Executive Management Reporting Operational Reporting Monthly Business Unit Reporting, Quarterly Forecasts, Annual Budget Business Unit Reporting, Project Reporting, Transaction Level Detail

3. Financial Information and Reporting Project Project Objectives

4. Researchers Financial Information and Reporting Project Customer Driven Solutions

5. Financial Information and Reporting Project Reporting Support Model

6. Financial Information and Reporting Project Contacts?

7. Financial Information and Reporting Project Contacts?

8. Financial Information and Reporting Project Finance Training • nVision Basics • Learn how to use the Financial Reporting tool (nVision) to report on Financial information including the capability of drilling down to detail into the NS Financials database. • Thursday, 22nd September   1:00pm - 4:00pm   Finance NSF Training Team • Thursday, 3rd November 1:00pm - 4:00pm fti@unsw.edu.au • nVision Intermediate •   Once you know how to use the Finance Reporting Tool (nVision) learn which reports to run for Projects versus Departments and/or Faculties and Divisions. Learn how to interpret the reports, understanding encumbrances, expenses and revenue as well as Actualsvs Accruals. • Monday, 10th October 1:00pm - 4:00pm • Tuesday, 8th November 1:00pm - 4:00pm • Calumo Workshops • Covers the basics of management reporting from Calumo including Basic Calumo excel functionality, Running standard Calumo reports, Browsing and extracting financial and non-financial data. (Calumo workshop is two hours each). • Friday 26th August 10am – 12 noon Finance Calumo Training • Friday 30th September 10am – 12 noon mis@unsw.edu.au • Friday 28th October 10am – 12 noon • Friday 25th November 10am – 12 noon Online Training is available

9. Financial Information and Reporting Project Who Needs Reports ?

10. Financial Information and Reporting Project Key Questions • How much do I have to spend ? • How much have I spent ? • What have I spent it on ? • What have I committed to spend? • How much do I have left? • What can I spend it on? • When do I have to spend it by?

11. Financial Information and Reporting Project Top Ten Reports

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16. Financial Information and Reporting Project What benefits do the new reports bring ? • Reduced number of reports • Alignment of NSF and Calumo account categories • Cash and Accrual information • Consistent Terminology • NSF numbers reconcilable to Calumo • Consistent “look and feel” • Improved Training and Support

17. F1 Financial Statement Traditional Income Statement format showing Revenue less Costs arriving at Operating Result This report can be run at any level (i.e., Faculty or Division, Department, School, Fund or Project). 1 1 5 5 4 3 3 4 Headings denote the business unit and time period for which amounts are displayed Actual – amounts recorded for transactions from both the Actuals and Accruals ( Accrue_Add) ledgers. Budget - this column displays relevant budget amounts from the annual UNSW budgeting process. 2 2 Variance - the difference between actual and budgeted transactions. Positive amounts indicate a ‘favourable’ variance ,(negative) amounts indicate an unfavourable variance. Expand/Collapse – Expand or collapse ( + / -) the rows to see more or less detail • Notes: : • This report does not include commitment information • Please use the columns to the right of the display area to drill down to underlying transactional details • Amounts exclude GST

18. F3 Standard Financial Statement by Fund Group This report can be run at any level (i.e., Faculty or Division, Department, School, Fund or Project. The month to date (MTD) version of this report displays amounts for the selected month only. The year to date (YTD) version of this report displays amounts for the periods up to the selected period for that year. Reported Amounts: Positive numbers = credit (income) (Negative) numbers = debit (expenditure) Variance Amounts: Positive numbers = favourable Negative numbers = unfavourable 1 1 6 5 4 6 5 3 2 4 3 2 • Notes: : • amounts are the combination of the amounts recorded in the ACTUALS and ACCRUE_ADD ledgers • this report does not include commitment information • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details. Expand/Collapse – Expand or collapse the sections to see more or less detail. (Note that drill downs can be performed from columns to the right (look for green shaded headers). Actual – amounts recorded for actual transactions from both Actuals and Accruals ledgers. Total Revenue and/or Total Costs in these colums should balance to other reports run for the same paramaters (except P2 Report which excludes amounts recorded in the Accruals ledger). Variance - the difference between actual and budgeted amounts displayed. Positive amounts indicate a ‘favourable’ variance whereas (negative) amounts indicate an ‘unfavourable’ variance. Funds – Year to date Actuals, Budget and Variance by Fund Group, with a total of all Funds in the end columns. Budget - this column displays relevant budget amounts established through the official UNSW budgeting process. Traditional Income Statement format showing Revenue Less Costs arriving at Operating Result.

19. F5 Financial Statement with Commitments 1 1 7 3 4 5 6 4 3 6 5 7 This report can be run at any level (i.e., Faculty or Division, Department, School, Fund or Project). Headings denote the business unit and time period for which amounts are displayed Actual – amounts recorded for transactions from both the Actuals and Accruals ( Accrue_Add) ledgers. Budget - this column displays relevant budget amounts from the annual UNSW budgeting process. Variance - the difference between actual and budgeted transactions. Positive amounts indicate a ‘favourable’ variance ,(negative) amounts indicate an unfavourable variance. 2 2 Full Year Budget - represents the budget for the full twelve months which agrees to the Calumo system Commitments – orders for supplies of goods and services, salary payments expected to be made for continuing staff, casuals not included Budget Uncommitted - amount of budget available to spend after allowing for actual and predicted/ committed expenditure • Notes: : • amounts are the combination of the amounts recorded in the ACTUALS and ACCRUE_ADD ledgers • this report does not include commitment information • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details.

20. D2 Standard Financial Statement by Fund Group This report can be run at any level (i.e., Faculty or Division, Department, School, Fund or Project. The month to date (MTD) version of this report displays amounts for the selected month only. The year to date (YTD) version of this report displays amounts for the periods up to the selected period for that year. 1 1 6 4 5 6 5 3 2 • Notes: : • amounts are the combination of the amounts recorded in the ACTUALS and ACCRUE_ADD ledgers • this report does not include commitment information • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details. 4 3 2 Revenue – Actual, Budget and Variance revenue by Department ID. Actuals data is a combination of Actuals and Accruals and can be expanded to see the details. Expand/Collapse – Expand or collapse the sections to see more or less detail. (Note that drill downs can be performed from columns to the right (look for green shaded headers). Other Costs– Actual, Budget and Variance Other Costs by Department ID. Actuals data is a combination of Actuals and Accruals ( Accrue-Add ledger)) and can be expanded to see the details. People Costs– Actual, Budget and Variance People Costs by Department ID. Actuals data is a combination of Actuals and Accruals and can be expanded to see the details. Funds – Year to date Actuals, Budget and Variance by Fund Group, with a total of all Funds in the end columns. Results– Actual, Budget and Variance Results by Department ID. Revenue less People Costs less Other Costs equal Results. Actuals data is a combination of Actuals and Accruals and can be expanded to see the details.

21. Trial Balance A trial balance is a list of all the general ledger accounts for a business unit or a project. It includes assets, liabilities, revenue and expenses. 1 1 5 4 5 2 3 • Notes: : • amounts are the combination of the amounts recorded in the ACTUALS and ACCRUE_ADD ledgers • this report does not include commitment information • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details. • If an account appears that has nil totals, there have been transactions for that account • Please note that the numbers do not add up due to rows being hidden in order to fit the report into this Quick Reference Guide). 4 3 2 Expand/Collapse – Expand or collapse the sections to see more or less detail. (Note that drill downs can be performed from columns to the right (look for green shaded headers). Movement – the difference between the closing balance and the opening balance. For Revenue and Expense accounts this equates to the YTD amounts. Closing Balance- the balance of the accounts as at the selected date. Opening Balance – balance as at the beginning of the year. For Assets, Liabilities and Equity accounts, the amount equals the previous years closing balance. For Revenue and Expense accounts the opening balance is nil. Expand and collapse by Account, Fund and Department ID.

22. PRJSTATS Project Summary Report 9 3 1 1 3 4 6 5 2 7 10 12 7 8 9 11 9 14 13 5 10 6 8 3 4 2 17 14 11 13 12 15 15 16 18 17 18 16 Depart– the department the project belongs to. Project ID Budget Remaining – The balance which is determined by subtracting expenses and commitments from the budget amount Cash Balance - the actual balance (bank) amount of a project not including Commitments and Debtors amounts. Budget Current – the budget allocation amount for the current year plus revenue transactions for the current year. Debtors - Bills invoiced but not been received. Description – Title of the project Income Funded – Is this project income funded? If Yes then the available amount is limited to revenue received, and no budget allocated funds Total Budget– the combination of Budget B/Fwd plus Current budget Revenue–bills invoiced. Note: amount is excluded in the estimated end of year project value. Status - identifies if the project is marked as active “A” or inactive “I”. Project Manager – identifies the project manager. Budget Expended – the result of the current year expenditure that is budget checked against the Total Budget Actuals Var. to Bud – The difference between the Budget Current and Revenue. • Notes: : • amounts are those recorded in the ACTUALS ledger only • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details (as shown by green shaded column headers) Budget B/Fwd – Brought forward balance – balance remaining from the prior year carried over to the current year Fund – the activity of fund that this project is linked to. Commitments – The combination of commitments and pre-commitments eg salary payments expected to be made.. Costs - the result of the current year expenditure that is posted in the general ledger.

23. PRJSTATD Project Detail Report 1 1 3 4 4 3 5 5 Expand/Collapse – Expand or collapse the sections to see more or less detail. (Note that drill downs can be performed from columns to the right (look for green shaded headers). Account Type – A name and code given to an account that indicates the account’s purpose. Budget B\Fwd– It is taking the balance from the previous year and moving forward to the current year. Budget Current- The awarded amount within the calendar year. It can be either revenue or budget allocated. Total Budget- The combination of Budget B/Fwd plus Current budget 2 6 6 Budget Expended– The result of the current year expenditure that is budget checked against the Total Budget 2 8 8 Commitments- The combination of commitments and pre-commitments.eg orders for goods and services and salary payments expected to be made for continuing staff, excluding casuals 11 7 10 9 9 7 11 10 Budget Remaining- The balance which is determined by subtracting expenses and commitments from the budget amount. Actuals - The result of the current year expenditure that is posted in the general ledger. Accruals- Transactions that are brought to account as they are earned or incurred (not necessarily when cash is received or paid) Closing Cash Balance- The actual balance (bank) amount of the project and it does not include Commitments and Debtors (including GST) amounts. • Notes: : • amounts are those recorded in the ACTUALS ledger only • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details (as shown by green shaded column headers)

24. PCSUMLTD Life to Date Project Report 9 3 4 7 5 6 1 3 1 2 9 5 6 7 8 11 13 11 8 9 12 14 10 3 4 2 14 16 15 12 10 16 13 15 Depart– the department the project belongs to. Project ID Budget Expended – the result of the current year expenditure that is budget checked against the Total Budget Actuals Var. to Bud – The difference between the Budget Current and Revenue. Costs - the result of the current year expenditure that is posted in the general ledger. • Notes: : • amounts are those recorded in the ACTUALS ledger only • amounts exclude GST • Please use the columns to the right of the display area to drill down to underlying transactional details (as shown by green shaded column headers) Description – Title of the project Income Funded – Is this project income funded? If Yes then the available amount is limited to revenue received. and no budget allocated funds Commitments – The combination of commitments and pre-commitments eg salary payments expected to be made.. Project Manager – identifies the project manager. Status - identifies if the project is marked as active “A” or inactive “I”. Budget Remaining – The balance which is determined by subtracting expenses and encumbrances from the budget amount Cash Balance - the actual balance (bank) amount of the project and it does not include Commitments and Debtors (including GST) amounts. LTD– Brought forward balance – balance remaining from the prior year carried over to the current year Fund – the activity of fund that this project is linked to. Debtors - Outstanding revenue from bills invoiced Revenue– revenue outstanding from bills invoiced.

25. 4 4 3 3 1 2 2 1 5 5 6 6 8 8 11 11 12 12 7 7 10 10 9 9 13 13 14 14 15 15 Total movement by category for the month (see “As at” date in header).1 Calendar year. 2 Life to Date. Balances from the project start date to the run date on the report Budget brought forward from last year. 3 Allocated budget for the year. 3 Direct salary costs (incl superannuation, long service leave and payroll tax.) Reductions in project salary expenses received from faculties. 4 Non salary related costs. Total of People Payments, Salary Supplementation Payments & Other Payments. Purchase Orders & salary commitments. 3 Balance remaining after deducting the Total Project Payments and the Budget Commitments from the Total Budget amount. Income received from the granting body or billed to the granting body. Represents all the income received that did not come from the granting body. Unpaid Invoices for the year. 5 Is the total actual cash received to date less the total actual expenses to date. • 1 Does not include any Commitment or Accrual amounts. • 2 For amounts in the Payment and Income sections of the statement the YTD column represents all actual expenditure incurred or project revenue billed. It does not include any Commitment or Accrual amounts. • 3 All budget amounts are annual figures and only relate to the Year to Date column. • 4 Occurs where a Granting body pays a fixed rate for a researcher, if the researcher’s wages exceed the fixed rate the faculty pays the shortfall from Operating Funds. • 5 Including GST.

26. GLFS* General Ledger Financial Statement Transaction Detail Report 1 2 3 2 1 3 • Note – • The system will only produce a transaction list if there is activity in the month you run the statement General Ledger Account (4 Series Payroll, 5 Series Assets, 6 Series Goods & Services, 7 Series Travel). The description field of the General Ledger Header, (External Loaded Journals are journals loaded via an interface with an external product – i.e.: HRMS.) 1 The description field of the General Ledger Journal Line. 1 HRMS journals will not display employee specific details. * The GLFS report is run through NSFinancials and not nVision