ctcLink Reference CenterResourcesRemediation FinanceGrants Accounting Process Listen and Learn

Grants Accounting Process Listen and Learn

Purpose: Remediation WebEx Listen & Learn session for Grants Accounting Process

Audience: All College Staff

Grants Accounting Process Meeting Information

Gap Analysis (Listen & Learn)

Topic: Grants Accounting Process

Meeting Date/Time: Thursday, April 6, 2017 - 2:30 - 4:00pm

Meeting Facilitator: Emmett Folk

Meeting Information: Grants Accounting Process WebEx Recording

Thursday, April 6, 2017

Meeting Objective

Gap Analysis / Requirements Gathering  The goal of this meeting is to gain a mutual understanding of the identified remediation gap and to document any requirements necessary for the remediation of that gap.  For example, if there is a reporting gap, we would identify what information is needed (specific data elements to include) to bridge that gap and how that information needs to be retrieved (reporting frequency, parameters).

Key Finance Modules Involved

  • Grants
  • Billing
  • General Ledger (GL)

Meeting Topics

Inclusion of GLE Analysis Type on Payroll Transactions

  1. From College Critical Issues
    1. “Need the GLE analysis type to be added to all payroll transactions before they are posted into the general ledger to allow for capture in grant billing.”
  2. The GLE analysis type needs to be automated, due to the large number of people employees paid through grants.
  3. A rule was also suggested this rule would stop the Journal from posting if GLE analysis type is not associated with a line that has a project.
  4. Currently Spokane is not posting payroll journals due to this issue, as it takes too many hours to complete this process manually.
  5. Tacoma is currently posting them manually; through December 2016 (one payroll is taking about 4hours).
  6. A short term and long term solution is needed; short term so that the colleges can close this year, and long term for next year.
  7. Grant Billing is not accurate as the payroll expenses are not being included in the invoices.

Estimated Revenues after Billing is Complete

  1. From College Critical Issues
    1. “Need a solution for eliminating estimated revenue once the invoice billing is complete.  Currently both revenue and receivables are overstated.”  
  2. Demonstration/Training on how this works was requested from Spokane and Tacoma agreed
    1. An offline discussion on Project Costing how it works, looking at this current fiscal year(with both colleges)
    2. Payroll has not been billed as a reminder
    3. Spokane has only billed fixed price contracts from the module only
    4. Tacoma has billed reimbursable contracts within the module for one grant that doesn’t have payroll associated with it.
  3. There appears to be duplicate revenue showing in the system (estimated/actual)
    1. Offline discussion needs to include explanation of what the colleges are seeing in Project costing to determine if there is an issue within the module.
    2. Possibly coded a different way would help, was a suggestion that was made.

Project Costing to GL Reconciliation

  1. From College Critical Issues
    1. “Billable rows need to reconcile in the GL to what is being billed on the invoice.”
  2. Expenses in GL not matching to invoice, payroll and possibly travel.
  3. Verify that all of the analysis types are being picked up by Project Costing and fix those that are missing an analysis type.
  4. Training on how to correct an expense in grants from the source (for both colleges)

Cost Sharing between Projects/Grants

  1. From Remediation Tickets
    1. Remediation tickets 20216, 20160, and 19863
  2. More information about Cost Sharing is needed for both colleges to accurately determine the true need of this function.
  3. The time spent on moving funds is a big issue for Spokane, cost sharing could potentially minimize the time it takes to currently do this process.

Parking Lot Items

  1. When payment is received without invoice first, how to process (on accounts)
  2. Separate contra account for AR
  3. Ticket 26013 is still outstanding- KK and Purchasing when the Purchase Requisition and the Purchase Order dollar amount don’t match.
    1. Demonstration of how the system is working is needed so the colleges can determine what the best business process is for them.
    2. Check into adjusting the tolerance level for Grants was suggested from Tacoma (the colleges also identified that training was also needed/QRG)
  4. Combo codes and other items that need to be changed when a Project number is changed.(options needed so colleges can determine their business process)
  5. Program income function training is needed (for both colleges).  This would be for grants that generate income; Tacoma currently has one grant currently that can potentially generate income.

Related Concerns or Issues not in Critical Issues Lists or Remediation Tickets

  • n/a

Topics and Associated Remediation Tickets

Grants Accounting Process

Ticket # Requirement ID Requirement Description Assoc. Topic
20216 GR89-Manage Grant Identify match monies associated with a grant and provide reporting capability on the budget/actual amount of match monies, wherever they are budgeted, based on user-defined business rules (e.g., personnel match for grant cannot exceed 100%). Cost Sharing
20160 GR88-Manage Grant Create grant billings based on user-defined specifications; accrue receivable "bill" matching funds. Cost Sharing
19863 GR62-Manage Grant Record, track and report in-kind or matching funds by value, source, line item, type of work (user-defined), etc. Cost Sharing
20212 GR135-Inquiry & Reporting Comparison of Actual to Budget (Revenues/Receipts and Expenditures) Project Costing to GL Reconciliation

0 Comments

Add your comment

E-Mail me when someone replies to this comment