Financial Rep Meeting

1. Financial Rep Meeting July 13, 2011

2. OMNI Expense Account Code ChangesJudd Enfinger

3. The Project • Improve financial reporting at the University level • Simplify, clarify and better organize account names/descriptions a • Provide additional guidance on the proper use of accounts • Promote consistency in recording similar types of purchases to facilitate more effective trend analysis • Ensure accurate coding of all types of purchases: • Encumbered • Unencumbered • P-Card • Create a comprehensive data dictionary of all OMNI expense accounts OMNI Expense Account Code Changes

4. The Analysis • Analyzed account activity for the last three years: • Amount spent • Number of transactions • Types of transactions • Vouchers – looked at source docs to determine what was purchased • IDRs • Online journals • Identified like accounts, e.g.: • 741153 – Computer Misc Equip < 1000 • 741141 – Information Technology Supply • 741151 – Computer Equip < 1000 • 741152 – Computer Periph Equip < 1000 • Identified “primary” account based on historic activity, when there were several similar ones OMNI Expense Account Code Changes

5. The Analysis (cont.) • Reviewed Purchasing Category activity for the last three years: • Amount spent • Types of purchases • Primary vendors • Account mapping OMNI Expense Account Code Changes

6. The Outcome – Expense Account Data Dictionary • Includes: • All non-Salary/OPS Expense Account Codes • Old & new OMNI Account Names (changes highlighted in blue) • Account Use Description • Short List Flag indicating whether each account appears on the Expense Account Short List • Available on Controller’s website • http://controller.vpfa.fsu.edu/Expense-Account-Data-Dictionary • PDF and Excel versions available OMNI Expense Account Code Changes

7. The Outcome – Expense Account Data Dictionary • Clarified Names/Usage for Existing Accounts • Account Use Description specifies exactly what should and should not be booked to each account • Eliminated abbreviations wherever possible • Still had to abbreviate some because of the 30 character limitation in OMNI • Property & equipment names no longer include threshold amount • Instead called either “Capital” or “Expendable” • Promotes consistency when looking at historical data • $5,000 threshold referred to in Account Use Description • Did not change “non-primary” account names OMNI Expense Account Code Changes

8. The Outcome – Expense Account Data Dictionary • Consistently named similar accounts • E.g., all equipment-related accounts begin with ‘Equip’; all professional services accounts (advertising, engineering, medical, etc.) begin with ‘Prof Svcs’ • Sorting by account name will group like accounts • Other notes on the Account Use Description • Loaded in OMNI in Long Descr field • See FSU_DPT_CODES_ACCOUNTquery • Description for non-primary accounts – “Recommended Alternative Account-” • Does not mean that non-primary accounts can never be used • Merely a recommendation to promote consistency across University • Description for accounts that are no longer to be used but had been in the past – “DO NOT USE” • Accounts only to be used by central offices or certain departments begin with “Controller’s Office (e.g.) Use Only-” OMNI Expense Account Code Changes

9. The Outcome – Expense Account Data Dictionary • Several new accounts added for one or more of the following reasons: • A need to track a particular item/service • Due to a high level of these types of purchases or • Because of risk factors (e.g. purchases of controlled substances/drugs – acct 741272) • An item/service did not fit into any of the existing accounts (e.g. 741966 Fees & Permits) • To discourage the use of account 741951 Oth Current Chrgs&Obligations • There should be no reason to use this account going forward • If a department cannot identify an appropriate specific expense account for a purchase they should contact the Controller’s Office • New accounts have “N/A” in the Old OMNI Acct Descr” column • Several accounts that had never been used at all were inactivated to pare down the list and to prevent future mis-postings to them OMNI Expense Account Code Changes

10. The Outcome – Expense Account Short List • A more concise list that includes the most widely used accounts and same information as Data Dictionary for those accounts • For use by departments when coding unencumbered and P-Card purchases • However, not all accounts on this list are allowable for P-Card purchases; see the Disallowable Purchases list for more information - http://www.purchasing.fsu.edu/Purchasing-Card-Information • Departments should rarely have to use any account not in this list • Available on Controller’s website • http://controller.vpfa.fsu.edu/Expense-Account-Short-List • PDF and Excel versions available OMNI Expense Account Code Changes

11. The Outcome – Purchasing Category Mapping Changes • Realignment of Purchasing Categories to OMNI Expense Accounts • All Categories should now map to a “primary” expense account • Almost all Categories map to accounts on Short List • Detailed crosswalk available via the query - FSU_DPT_CODES_CATEGORY_BY_ACCT OMNI Expense Account Code Changes

12. Contact • Judd Enfinger – Assistant Controller, Quality Assurance • 645-2436 • jenfinge@admin.fsu.edu OMNI Expense Account Code Changes