Aug' 5, 2004 CFO presentation Budget Close

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(No Transcript)
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Agenda

• Core-CT Project Status
• Budget Close
• Pre-encumbrances and Encumbrances
• PO Rollover Status
• Questions and Answers

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New Project Structure - Financials
Core-CT Financials Team Elaine Pelletier John
Harnick
Supply Chain Team Joann Bellamo
Financial Modules Team Dona Black
Development Team Ed Sullivan
Training / User Support Team Holly Osburn
E-Procurement Purchasing Catalog Management Asset
Management Inventory
Accounts Payable Accounts Receivable General
Ledger Billing Projects Contacts Interfaces /
Conversion
Production Support New Development Interfaces /
Conversion
Level 2 Help Desk Training Development Training
Delivery
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Phase 2 Timing

• Billing
• January 2005 Implementation
• Current activities include
• Gathering Configuration data
• Determining Interface / Conversion requirements
• Preparing for Product Test
• Assets and Inventory
• July 2005 Implementation
• Similar activities to Billing on a longer
  timeline
• Projects / Contracts
• Planned for 2006

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Phase 2 Agency Readiness Tasks

• Billing
• Past Due as of 8/2/2004
• Task 105 Conversion Data Mapping
• Task 107 External Customers Configuration
  Data
• Task 108 Transfer Invoices Configuration Data
• Upcoming Task
• Loading customers online prior to go-live

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Phase 2 Agency Readiness Tasks

• Assets and Inventory
• Past Due
• Tasks 100 through 103 Confirm Assets Systems,
  Scanners Questionnaire, Assets Configuration
  Data, Location Information
• Due 10/8/2004
• Task 104 Asset Conversion Data Mapping
• Workshops on September 8th and September 22nd
• Agency invites coming soon
• Task 106 - Inventory Conversion Data Mapping
• Workshop on September 16th

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• Core-CT Project Status
• Budget Close
• Pre-encumbrances and Encumbrances
• PO Rollover Status
• Questions and Answers

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Budget Close

• Commitment (KK) vs. General Ledger (GL)
• Many cases where transactions posted to GL but
  not to KK
• To close budget the calculation is Carry
  forward Budget minus Commitments minus
  Expenditures
• Adjustments to KK are being made to equal the
  balances in GL
• Adjustments will be made at every budget level,
  as necessary

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Encumbrance Pre-encumbrance Balances

• Remaining Pre-encumbrance and Encumbrances will
  be ignored as part of the calculation for carry
  forward budgets
• Old year POs that did not roll, will remain in
  FY2004 and made inaccessible by the budget close
• New POs will encumber new year money and carry
  forward money when brought forward

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Corrections to Balances Brought Forward

• Any adjustments that are needed to carry forward
  balances once the budget is closed should be
  brought to John Clarks attention
• John Clarks email john.clark_at_po.state.ct.us

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Agenda

• Core-CT Project Status
• Budget Close
• Pre-encumbrances and Encumbrances
• PO Rollover Status
• Questions and Answers

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PO - Post FY04 Updates

• A balance is required for a PO to roll
• The 71000 account is a budgetary account so it
  does not roll
• Need to create a new distribution line on the PO
• If your PO didnt roll forward, your PO personnel
  need to create a new PO in the new fiscal year
• It is critical that they use comments on
  POs/Contracts for audit purposes to reference the
  original PO and why this PO is being created
• Old PO will need to be updated to reference the
  new PO as well
• Lesson Learned Reconcile and Close POs and
  Requisitions Monthly
• Reduce amount of time at year end to clean up POs
  and Requisitions
• Smoother rollover process
• Agencies went from 90,000 POs in April / May
  down to 16,000 at rollover

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Update on PO Rollover

• More than 8,200 POs were rolled at FYE
• 16,000 open POs at the time roll over began
• At current time, there are 29,000 POs in 2005
• Rollover results sent to Sponsors beginning
  7/23/2004 see Daily Mail for details
• Rolled POs
• POs stuck mid roll
• POs with errors
• PO Cleanup Continues
• Continuing to work with stuck POs

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Update on PeopleSoft PO Cases

• There are two key PeopleSoft Cases / Bugs that
  impacted PO during the Closing processing
• Closed Budget Period Error on rolled POs
• Certain rolled POs could not be accessed, even
  though budget may have existed
• A fix has been received and has been implemented
• Dynamic Insert when Budget Checking
• This error causes POs (and vouchers) to be
  overlooked in the budget checking process
• Manual intervention continues to ensure that POs
  and payments are processed on a timely basis
• The fix will not be applied until Service Pack 2
  Bundle 3 which will occur until next calendar
  year. In the interim, new POs will need to be
  created.

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Closing

• Weve covered..
• Core-CT Project Status
• Budget Close
• Pre-encumbrances and Encumbrances
• PO Rollover Status
• What questions do you have?