SPENDING SCHOOL DOLLARS PART 2 FROM BUDGET TO PROJECTION

Transcription

1 SPENDING SCHOOL DOLLARS PART 2 FROM BUDGET TO PROJECTION

2 Life of an Expenditure Funding has been granted Budget has been set Notice of Award issued Ready to make your purchases

3 Purchasing Options P-Card ERP-Payment Payment Requests Requisitions / Purchase Orders

4 P-Card Purchases The P-Card is a tax exempt MasterCard charge card maintained by Bank One, it is accepted universally. The P-Card is designed d to simplify purchases associated with business-related activity. The dollar level for all P-Cards will be determined by the management center.

5 P-Card Purchases When making purchases using a p-card an itemized receipt from the vendor is required detailing all items that were purchased. The information on the receipt should include: The vendor name The item purchased The purchase price excluding tax

6 P-Card Purchases Admin. Services require the original and 1 copy of all receipts for P-Card transactions. You will need to write the following on your receipts: The speedtype The account number The purpose of the purchase The attendees for lunch receipts

7 P-Card Purchases ALL Pcards are charged to a home department speedtype (OPRxxxxxx). These transactions should always be allocated to the proper speed type via the PROCARD system. Once the purchase has been made it is the duty of the p-card holder or the assigned Department Assistant to go into the PROCARD system and confirm the charges and allocate the funds to the appropriate speed type along with a brief description.

8 P-Card Purchases To ensure accuracy when allocating transactions through the online system, make sure each transaction allocation has been saved and verify all allocations before logging out of the system. When the original and 1 copy of the receipt (s) have been submitted, and the charges accurately allocated through the PROCARD system, the transaction is COMPLETE.

9 Payment Request est Payment requests are processed through the ERP system for the following: Purchases Travel reimbursements to individuals Payment to lecturers. If you are preparing a Payment Request you must know the speed type, account number and the verified amount of the reimbursement/payment.

10 Payment Request est If the payment py request is processed for a new vendor; a supplier form MUST BE COMPLETED. If you are requesting a reimbursement for travel you must complete a statement of travel form. You can only record one trip per travel form. If the reimbursement is to an employee, the EMPLOYEE IDENTIFICATION NUMBER is REQUIRED.. The reimbursed df funds are deposited di into the default account through Payroll.

11 Payment Request est Admin. Services require the original and 1 copy of all receipts and supporting documentation to be attached to the payment request in order to process payment. The authorized signers for MSASS are Richard Cole and or Sandy Sams. Make sure the bottom portion of the request is complete with their correct information. For Travel Reimbursements make sure the supervisor of the traveler signs the form.

12 Requisitions / Purchase Orders A purchase requisition is an official University document used to initiate a purchase order with all outside vendors. Advance planning by departments is extremely important. Time factors for generating the purchase requisition Obtaining necessary approvals Processing to Purchasing Procurement creates Purchase order Vendor can submit invoices for payment

13 Purchase Requisition / Purchase Order A purchase order is used for: Various types of special requests Special goods Services A purchase order is processed by Procurement & Distribution based on the category of the pre-approved electronic requisition from a requester.

14 Purchase Requisition / Purchase Order The purchase order is a legally binding obligation when accepted by a vendor. Acceptance may be evidenced by written notification or a delivery of goods conforming to the terms of the contract. The University has the ability to change or cancel a purchase order.

15 Catering Catering The Case campus remains open to the use of outside caterers under $500. Events $500 or more must use the preferred caterers. Payments for catering can be made using your Case P- Card up to $500. If the caterer does not accept credit cards then you must create a requisition prior to the event and a purchase order will be issued.

16 Catering Approved caterers meet the following criteria: Have a successful record of service on campus Acceptance of the University's s payment terms and conditions Have a signed standard Case Catering Agreement on file Have proof of Insurance/Power of Attorney on file at the University

17 Independent Contractors Independent contractors at Case Western Reserve University are individuals or companies that provide specialized services in a particular discipline. The use of independent contractors allows Case to tap their unique expertise necessary to project-specific work, recognize the contractors' desire for independence, and to save on benefit and administrative costs.

18 Independent Contractors There are, however, some cases where the work should be done by an employee rather than a contractor. In order to help determine what status the vendor should be, please consult the FAQ F.A.Q. The Independent Contractor CAN NOT WORK until their contract is fully executed.

19 Independent Contractors Use of Independent Contractors If an independent contractor is appropriate for the project, the following steps need to be taken: 1. Enter requisition for vendor payment Payment request forms are not acceptable for any contract processed after 11/01/ Check PeopleSoft to find out if the independent contractor is already an existing vendor. If they are not, then provide both a completed supplier form and IRS form W-9. a. Independent Contractor Form b. Supplier Form c. IRS Form W-9

20 Independent Contractors 3. Fill out the independent contractor information form completely. 4. Procurement creates and mails two signed copies of fth the contract tt to the vendor. 5. Vendor signs one copy, which they return to Procurement, and retains one copy for their files. 6. Procurement receives the fully executed contract back from the vendor and scans it into electronic format. 7. Procurement s a copy

21 Independent Contractors 8. Procurement generates a purchase order. 9. Vendor submits invoice for services per instructions in contract Exhibit A. 10. Accounts Payable pays vendor. All paperwork must be filled out completely, and the contract between Case and the vendor must be properly signed by both parties before any work can begin.

22 Projections Once the PCard, Payment Request and Purchase Order have been processed The University expends the funds and the vendor receives the payment (hopefully). Once all of this has been done the University on a monthly basis prepares expense statements and Administrative Services prints them out.

23 Projections Expense statements show what expenditures were processed against a speed type monthly. Administrative Services then puts this information into a projection format. The difference between an expense statement and a projection are expenses to be made called commitments.

24 Projections An expense statement does not take into consideration salaries or purchases made but not yet expended on the speed type, projections do. This gives the Principal Investigator and Department Heads a better idea of how much money has been expended and how much is anticipated to be expended.

25 Projections For Operating speed types each staff member salary is already budgeted. The department is responsible for student salary and all non-salary expenditures. For Research and Training projects the Principal Investigator is responsible for all salary and non-salary expenditures.

26 Projections Projection

27 Projections Salary Expended Year-to-Date Committed Salary Total Projected Salary Expense Budget Projected Under/Over Budget Fringe Salary + Fringe Total

28 Projections Non Salary Expenses Expended Year-to-Date Commitments Total Projected Expense Budget Projected Under/Over Budget Total Non-Salary Total Direct Cost Overhead Total

29 Projections Detail of all non-salary expenses Account Class Date of Transaction Vendor/Payee Amount & Date Paid Commitments Form of Payment and Explanation of Expense

30 Helpful l Links Payment Request Information d%20conditions.htm ERP/Financials Supplier Information Form Commonly Used Forms

31 Helpful l Links Independent Contractors Frequently Asked Questions: Independent Contractors Form: Preferred Caterers: