Workshop Content Example Target Audience Strategic Reporting The production of, and ability to access, the required strategic reports for each college or support group, with a focus on leadership reporting. - Availability of required information - Availability of reports - Content of reports - Integration of information - Dashboard - Summary information - Snapshots College accountants and support group level accountants, Directors, Heads of Service. Financial Planning - Annual Process The annual process whereby budgets are set for each college / support group and pushed out. - Annual budget setting process - Annual revenue projections - 3 / 5 / 10 year financial planning - Budget transfers - Annual budget College accountants and support group level accountants; Management Accounting; Financial Accounting; Registrars. Ongoing Forecasting and Budgeting The processes involved in regular forecasting and budgeting throughout the year at a detailed level. - Quarterly or monthly forecasting - Rolling forecasts - Budget transfers - Salary forecasting - Research forecasting - Capital equipment accounting - Capital Budgeting, Forecasting & Reporting - Quarterly forecast production College accountants and support group level accountants.
Internal Transfers Any form of internal recharging for goods or services from one department / school to another. - Internal purchases - Internal sales - Catering - Salary recharges - Telephones Business managers and CBS; and department finance managers. Statutory Reporting All statutory reporting, excluding that associated with research grants. - Annual financial statements - Ongoing financial reporting throughout the year - Consolidation of group accounts - Includes coding hierarchies - Annual reports Financial accounting team, plus one representative from Management Accounting. Operational Reporting The ability to access the required reports at an operational level, with a focus on detailed reporting. - Availability of reports - Content of reports - Account code hierarchies - Integration of information - Reports accessed via BI / MI, WebFirst, efinancials, Excel or any other method - Departmental monthly reporting - Day-to-day reports Finance and Business Managers
Purchasing This covers purchases which do not go through a tendering process. - Raising purchase orders - Receipt of purchase invoices - Goods receipting - Accounts payable process - eprocurement - VAT recording - Supplier rationales and coding - Purchase of stationary from existing contract AP team; school administrators, finance managers, business adminitrators. Sales All sales processes from raising an invoice to cash receipt. - Sales invoicing - Recoverable salaries - Rent (accomodation services) - Student invoicing (e.g. fees) - Debtors - Credit notes - Sale of assets - Student fees - Let out a hotel room - Staff salaries paid by NHS - University gift shop Fees department, accomodation services, school administrators, finance managers and business managers. Note that internal sales are out of scope (these are covered within the internal transfers workshop).
Treasury The processes for managing and investing funds, and for pensions administration. - Banking - Funds Management - Pensions new members - Pensions payments - Pensions leavers - Speak directly to Terry Fox Finance Specialist Services Procurement This covers purchases which go through either the Quick Quote or Tendering process. - Quick Quote ( 5,000-50,000) - Formal Tendering (> 50,000) - VAT recording - High value, complex or unusual procurements - Purchase of a machine for 8,000 Procurement, AP, high users of Quick Quote / Formal tendering
Capital Programmes/ Budgets Processes around the justification of capital programmes (for capital expenditure). - Policy - Request and Approval of capital expenditure - Management of capital budget - Capital projects - Capital equipment - Management reporting - Benefits realisation - Includes estates - Capital Budgeting, Forecasting & Reporting - Constructing a new building - Renovations on existing asset Estates, accomodation services and ISG. Note that this excludes the process for physically purchasing / spending budget (this is covered within procurement). Finance Support Services The ability of end users to log support issues. - Financial support help desks (FIS / SAS / IS) - First line support and triage - Support to staff and internal customers - Finance System Support - Teams who respond to users having an issue raising an invoice - Teams who respond to user queries regarding finance policies Central Finance and ISG
Research Grants The process of recording and monitoring research grants post award stage. - Salary forecasting - Grant budget and code set up - Apportionment and journals - Forecasting & reporting - Statutory Research Grant reporting - Commitment and capital accounting Not applicable Research Grant Finance Team and Research Grant Administrators Payment Strategy Processes around receipt of cash and online payments. - Student cash payments - Cash advances - Tellers, EFTPOS and subsistence - Petty cash - Optimisation of the Cash Office Provision - Students paying fees - Students paying fines - Research trips with cash only payments Cash office, Finance Specialist Services and school level / support group department level representation. Subsidiaries The processes around collecting, collating and checking financial information from subsidiaries. - Integration of subidiaries data within core reporting - Process of liaising with subsidiaries and obtaining information - Alignment of policies and procedures (subsidiaries to university wide) Not applicable Financial accounting team