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Finance Network

Finance Network. October 14, 2004. Agenda. Announcements – Axthelm+ Policy Development - Mock Year End Close Retrospective - Axthelm Budget System – Nosek Mystery Guest. Announcements. New Hires Open Positions Spend Forecast Schedule Audit of Effort Reporting & Labor Cost Distribution

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Finance Network

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  1. Finance Network October 14, 2004

  2. Agenda • Announcements – Axthelm+ • Policy Development - Mock • Year End Close Retrospective - Axthelm • Budget System – Nosek • Mystery Guest

  3. Announcements • New Hires • Open Positions • Spend Forecast Schedule • Audit of Effort Reporting & Labor Cost Distribution • BLIS User Meeting

  4. New Hires & Transfers • Glenna Rogers – AFRD Sr. Resource Analyst • Paula Meo -Payroll Manager • Sui-Hing Jen -Sr. Payroll Accountant • Lon Freeman -Sr. Financial Analyst -Indirect Budget Group • Minh Huebner - Budget Officer (starts 11/15) • Kathleen English -from Financial Systems to A/R • Suzanne Nolan -from Computing procurement to Institutional Services sub contracts

  5. Open Positions in Office of CFO • Controller (Fernandez) • Resource Analyst – Physical Biosciences (Dere) • Senior Financial Analyst – Direct Budget (Moore) • Financial Training & Development Specialist (Mock) • Financial Systems Analyst (Corsair)

  6. Management Report is now the Spend Forecast

  7. Spend Forecast Schedule

  8. Spend Forecast – Why Important? • More effective, predictable use of indirect budgets • Provides year-end planning flexibility • Helps prevent need to change rates mid-year or later (eg, year end) • Opportunity to coordinate Division staff planning with institutional planning

  9. Audit: Effort Rptg & Cost Distribution • Assess accuracy & integrity of effort cost distribution and reporting • Assess adequacy of internal controls • Assess compliance with policies and procedures • Interviews of employees in scientific division having variety of funding sources • Will include reviews of effort transactions including resource adjustments • When: Kick off next week

  10. BLIS Update • Demo and presentation on Tuesday, Oct 26 from 2 to 4 in Perseverance Hall • Topics • Demo of project cost analyzer • Input on Plan to replace IRIS • ReportNet implementation plan • Training opportunities • Would also like to restart Reports Committee: focus on IRIS replacement, report quality, and use of ReportNet capabilities

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