university of colorado controller campus forum office of university controller october – november...

UNIVERSITY OF UNIVERSITY OF COLORADOCOLORADO

Controller Campus Controller Campus ForumForum

Office of University Office of University ControllerController

October – November 2005October – November 2005

AgendaAgenda

• Revenue PoliciesRevenue Policies• Foundation Travel Policy Foundation Travel Policy • Foundation Gift InterfaceFoundation Gift Interface• Reporting ToolReporting Tool

Revenue Process Policy Revenue Process Policy SuiteSuite

• Revenue Definition and RecognitionRevenue Definition and Recognition • Sponsored Project RevenuesSponsored Project Revenues • Auxiliary and Self-Funded RevenuesAuxiliary and Self-Funded Revenues • Gift RevenuesGift Revenues • Gift In Kind TransactionsGift In Kind Transactions

http://www.cu.edu/policies/http://www.cu.edu/policies/


• Why more policies?Why more policies?– ConsistencyConsistency– Address questionsAddress questions– Address audit concernsAddress audit concerns– Reflect redefinition of Foundation roleReflect redefinition of Foundation role


• Common question: Does this Common question: Does this represent Sponsored Project, represent Sponsored Project, Auxiliary and Self-Funded or Gift Auxiliary and Self-Funded or Gift Revenues?Revenues?

Revenue Decision TreeRevenue Decision Tree– If one characteristic exists, the contract If one characteristic exists, the contract

should be sent to the campus sponsored should be sent to the campus sponsored project office for determinationproject office for determination


• Gift RevenuesGift Revenues– Where do I deposit the Where do I deposit the

check – CU or check – CU or Foundation?Foundation?

Answer Key: Payee on Answer Key: Payee on CheckCheck


• Gift RevenuesGift Revenues– What if the Check Payee is What if the Check Payee is

ambiguous?ambiguous?• Use the other information available, Use the other information available,

e.g., letter, campaign carde.g., letter, campaign card• Send donor confirmation letterSend donor confirmation letter

Gift Confirmation LetterGift Confirmation Letter• Default to CUDefault to CU


• Gift In Kind TransactionsGift In Kind Transactions– Routes through CU not FoundationRoutes through CU not Foundation– Requires completion of form and Requires completion of form and

campus controller approval prior to campus controller approval prior to custodycustody

GIK Acceptance FormGIK Acceptance Form– Appraisal is required if value is greater Appraisal is required if value is greater

than $100,000than $100,000

Foundation Travel Policy Foundation Travel Policy

• Effective November 2005Effective November 2005• Applicable for Deans and other employees Applicable for Deans and other employees

that are requested to travel by Foundation that are requested to travel by Foundation • Foundation prohibited from Foundation prohibited from directly directly

paying employees and their immediate paying employees and their immediate family membersfamily members

• Department enters into memorandum of Department enters into memorandum of agreement with Foundationagreement with Foundation

• CU reimburses employee or family member CU reimburses employee or family member then then Foundation reimburses CUFoundation reimburses CU

Foundation MOA TemplateFoundation MOA Template

Foundation Gift InterfaceFoundation Gift Interface

• Redefining our relationship with the Redefining our relationship with the Foundation to:Foundation to:– Improve Foundation effectivenessImprove Foundation effectiveness– Improve transparency of relationshipImprove transparency of relationship– Enhance donor complianceEnhance donor compliance


• Short-term change – new policyShort-term change – new policy

Transfer Form InstructionsTransfer Form Instructions• Document connection on transfer Document connection on transfer

request form the connection between request form the connection between use of monies and donor restrictionsuse of monies and donor restrictions

• Require campus controllers to resolve Require campus controllers to resolve discrepancies between Foundation discrepancies between Foundation purpose codes and University expense purpose codes and University expense purpose codespurpose codes


• Long-term change – February 2006Long-term change – February 2006• Direct relationship between Direct relationship between

Speedtypes and CUF FundsSpeedtypes and CUF Funds– Improve information about giftsImprove information about gifts– Automate transfersAutomate transfers– Donor compliance trainingDonor compliance training


• Improve information about gifts for Improve information about gifts for each speedtype provide:each speedtype provide:– Direct link to Foundation accountDirect link to Foundation account– New purpose codesNew purpose codes– Long description of gift restrictionsLong description of gift restrictions– Identification of gift fund managerIdentification of gift fund manager– Available spending balancesAvailable spending balances

New New SpeedtypeSpeedtype Page Page


• Automate transfersAutomate transfers– Weekly calculate amount needed based Weekly calculate amount needed based

on spending and amount available at on spending and amount available at FoundationFoundation

– No more transfers (except if amount is No more transfers (except if amount is over a defined limit)over a defined limit)


• Donor compliance trainingDonor compliance training– Add security to system to:Add security to system to:

• Prevent transfer of funds between Prevent transfer of funds between incompatible gift restrictions without incompatible gift restrictions without campus controller approvalcampus controller approval

• Require fund manager to approve transfer Require fund manager to approve transfer of fundsof funds

– Training tools for department staff to Training tools for department staff to understand responsibilities for and understand responsibilities for and documentation of compliancedocumentation of compliance

Foundation Policy and Foundation Policy and InterfaceInterface

Reporting ToolReporting Tool

• What is the Reporting Tool?What is the Reporting Tool?– New on-line system that will provide New on-line system that will provide

financial reports, including ad-hoc financial reports, including ad-hoc queryingquerying

http://http://www.cusys.edu/reportingprojectwww.cusys.edu/reportingproject


• Why is this needed?Why is this needed?– Reduces inconsistencies in presentation Reduces inconsistencies in presentation

and understandingand understanding– Supports new fiscal certification Supports new fiscal certification

processprocess– Reduces and detects fraud Reduces and detects fraud – Maximizes resources available to Maximizes resources available to

maintain reporting tools, includes maintain reporting tools, includes trainingtraining


• How will it work?How will it work?– Push reports periodically to the portal Push reports periodically to the portal

based on fiscal rolebased on fiscal role– Email notification of report publicationsEmail notification of report publications– Finance system users will be able to run Finance system users will be able to run

reports on demandreports on demand– Finance system power users will be Finance system power users will be

able to perform ad-hoc queryingable to perform ad-hoc querying


• When will this be in placed?When will this be in placed?

PhasPhasee

PurposePurpose TimingTiming

11 Fiscal Certification ReportsFiscal Certification Reports January January 20062006

22 Compensating control Compensating control reporting, personnel effort reporting, personnel effort reporting, and I.R.S. reporting, and I.R.S. Section 127 reportingSection 127 reporting

March March 20062006

33 Replace all current Replace all current reportingreporting

TBDTBD

44 New reporting and ad-hoc New reporting and ad-hoc queryingquerying

TBDTBD


• Next stepsNext steps– Confirmation of email addressesConfirmation of email addresses– Design of first reportsDesign of first reports

• Balance SheetBalance Sheet• Income StatementIncome Statement• Journal EntryJournal Entry• Outstanding EncumbrancesOutstanding Encumbrances

– Campus demos in December 2005 Campus demos in December 2005


• Input into processInput into process– Campus oversight committeeCampus oversight committee

http://www.cusys.edu/reportingproject/campus-rhttp://www.cusys.edu/reportingproject/campus-rep.htmlep.html

– Email commentsEmail comments

[email protected]@cusys.edu


I heard…I heard…• Paper reports would no longer be Paper reports would no longer be

availableavailable– True, will not be centrally printed and True, will not be centrally printed and

distributed each month, but can be easily distributed each month, but can be easily printed in departmentprinted in department

• Current access to reports will no longer Current access to reports will no longer be availablebe available– Not exactly; we will be eliminating access to Not exactly; we will be eliminating access to

reports one-by-one as they become available reports one-by-one as they become available to reduce cost of future maintenanceto reduce cost of future maintenance


I heard…I heard…• Department access to CIW will be Department access to CIW will be

eliminatedeliminated– Not in near future, however, it is an Not in near future, however, it is an

ultimate goal as the ad-hoc querying ultimate goal as the ad-hoc querying tool will be better than Access database tool will be better than Access database connectivity and reduces cost to future connectivity and reduces cost to future maintenancemaintenance


I heard…I heard…

university of colorado controller campus forum office of university controller october – november...

Documents

foundation foundation

process policy suitewhy

incompatible gift restrictions

foundation purpose codes

campus controller approval

information available

transfer request

direct relationship