1. Presentation toNew Chairs, Heads, and Directors Andrea Backes, Director of Finance College of Biological Sciences November 19th, 2009

2. Fiscal Management from the Departmental Point of View

3. Fiscal Management Responsibilities Day– to – Day Accounting (especially document processing) Payroll/HR Grants Administration Management, Oversight, Planning Budgeting Management information Certified Approver

4. What is the Chair’s Role in Fiscal Management?

6. Overview of a Department Budget Fund Accounting Transaction System is PeopleSoft Financials “Sources and Uses” Example

7. EFS ChartfieldStructureFund-DeptID-Program/Project Fund: A 4-digit number that answers the question, “What broad restrictions or reporting requirements have been imposed on these funds?” It is the first four digits of a chartfield. Examples: 1000 General Operations and Maintenance 1701 U of MN Foundation

9. EFS Chartfield Structure Fund-DeptID-Program/Project Deptid: A 5-digit number that tells us the level of responsibility activity resides at. It is the second part of a chartfield. Examples: 11264 Accounting 11278 Accounting Research Center

10. EFS Chartfield Structure Fund-DeptID-Program/Project Program/Project: A 5 to 8-digit number that identifies the sponsored project or the activity funds are spent on Examples: 20524 Credit Field Trips 56768559 Regulation of Deep Geological Systems

11. EFS Chartfield StructureFund-DeptID-Program/Project 1000 - 11264 - 20000, translated, means: O&M funds in the department of Accounting, used for general departmental administration.

13. What to Expect from Your Financial Staff Regular reports on the status of departmental finances Projections for the next fiscal year Preparation of annual budget in the spring for the next fiscal year Assistance with locating and interpreting financial policies Knowledge of all departmental accounts and foundation fund accounts Pro-active approach in bringing issues of concern to your attention Avoid deficits, but be clear what resources are available Any sponsored project issues

16. Grants Management Certified Approver Someone who, based on their proven understanding of the complexity of sponsored funding regulations and University policies and procedures, has the expertise and authority to review and approve a wide variety of financial transactions on sponsored accounts.

17. Tuition Section size Cross listings

18. Tools and Resources Financial Oversight Reports for Grants PeopleSoft Financials Management Reports for Budgets, HR, Enrollment Data www.umreports.umn.edu Data www.irr.umn.edu

19. A Few Final Suggestions Build relationships Create a departmental fact sheet Student Profile Undergrads/Masters/PhD Credit Hours in your courses Financial Profile Sponsored Grant Activity Gift Income