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May 2014

Dear Colleagues,

 

You are receiving this message because you are part of the lsafinstaff@umich.edu group. This email list is used by the LSA Budget & Finance team to provide you with financial related news and updates, which we feel will be useful to all units. 

 

New in M-Reports

 

A new feature is available in M-Reports as of March. Secondary/proxy access can now also be added to Non-Sponsored Project/Grants, which was previously only available for Sponsored Project/Grants. The step by step procedure for adding access can be found here:

 

http://www.bi.umich.edu/products/download/GrantSecAccess.pdf

 

Upcoming Changes to Service Unit Billing (SUB) Template

 

Scheduled to go into effect October 1, 2014, an updated template will be used for inputting Service Unit Billings. The changes include additional required fields, a removed field, and a newly recommended field.

 

The changes include the following:

  • Newly required field:
    • Invoice ID or Dept. Ref Num (The system will require one of these two fields to be used)
    • Item Description
    • Quantity Vouchered
    • Unit Price
  • Strongly encouraged field:
    • Requester name - if the requester uniquename is captured in your business process, it should be included when you process your SUB
  • Field to be deleted:
    • Item ID

Please remember to update and test any department created sub-system or program creating your SUB load file to accommodate these changes. You will be unable to process SUB files using the old template after the go-live date. The new template will be made available at http://www.mais.umich.edu/fin/subdoc.html. The current template will be required for uploading SUB files until the new template is activated on October 1, 2014. Any questions can be directed toAccountingServicesCustomerService@umich.edu.

 

Shipment of Goods to Non-University Addresses

 

Concur reports have been sent back to the submitter by Procurement auditors recently because the items purchased were shipped to a home address instead of the University. In many cases, faculty will order books online and have them shipped to their home address and Procurement Services has stated this should be fine. However, non book purchases and other unusual features of a purchase will require an explanation with business purpose. The approver of these transactions must ensure an appropriate explanation/documentation is included in the report.

 

Scholarship Class Code Usage

 

As a reminder, the scholarship classes (81000, 82000, and 83000) should only be used for scholarship expense account codes. Expenses for hosting, research, travel, GSRA appointments, temporary employee appointments, etc. should not have a scholarship class assigned to them. The funding source for these expenses does not necessarily need to change, but a new shortcode would need to be created with a more appropriate class code. Financial Operations is reviewing activity expensed against the scholarship classes on a monthly basis, so you may be contacted individually about this as well.

 

LSA Instructional Budget Model (LSIBM)

 

The LSA Instructional Budget Model will be utilized beginning in the Fall 2014 term. Your unit's financial analyst should have sent your new LSIBM program shortcode, and all instructors who will use an LSA Instructional Budget Model slot should be appointed to this shortcode. A summary of programs used to capture instructional teaching costs beyond the tenured and tenure-track faculty allocation (LIREG) is as follows:

  • LSIBM - College funded section allocation for LEO Lecturers, Visiting Faculty, and Emeritus Faculty (beginning FY15)
  • LISUP - Requested and approved College funded supplemental instruction above LSIBM and other pre-approved College funded situations (e.g. Michigan Society of Fellows support)
  • LDSUP - Unit or non-College funded supplemental instructional needs
  • LISEC - College funded section allocation for Graduate Student Instructors or grader support (for those units that do not receive a LTMPG budget)

The details of this program can be found in the attached policy and best practices document, which will also be posted to our website. Please contact your financial analyst if you have any questions.

 

Fiscal 2014 Year End Closing Cutoff Dates

 

As a quick reminder, to ensure that various financial transactions are included in fiscal year 2014 activity they must be submitted by the cutoff dates on the following Financial Operations webpage: 

 

http://www.finance.umich.edu/node/32085

 

Thank you, 

The Budget and Finance Team


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