an introduction to asu business processes. total funding sources $1.96 billion
TRANSCRIPT
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An Introduction to ASU Business Processes
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Total Funding Sources $1.96 billion
Tuiti
on &
Fees
Net
Stat
e In
vest
men
t
Grant
s and
Con
tract
s
Auxili
ary
Ente
rpris
es
Finan
cial A
id G
rant
s
Sale
s & S
ervi
ces
Priv
ate
& Cap
ital G
ifts
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
$896.9
$329.0 $308.9
$140.5$106.9 $106.1
$74.1
ASU FY 2014 Funding Sources
Dollars in Millions
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Total Funding Uses $1.86 billion
Inst
ruct
ion,
Aca
dem
ic &
Stu
dent
Sup
port
Organ
ized
Res
earc
h & P
ublic
Ser
vice
Depre
ciat
ion
& Inte
rest
on
Debt
Inst
itutio
nal S
uppo
rt
Auxili
ary
Opera
tions
Scho
lars
hip
& Fel
lowsh
ips
Opera
tion
& Mai
nten
ance
of P
lant
$0$100$200$300$400$500$600$700$800$900
$1,000 $915.3
$275.9$174.6 $136.3 $130.6 $127.5 $98.9
ASU FY 2014 Funding Uses
Dollars in Millions
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All University Departments must follow ASU Policy and Procedures
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Headline Test Rule
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• The Arizona Auditor General performs the financial audit for the University.
• The University is audited in accordance to GAAP, GASB and University policy.
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• In order to fulfill ASU’s fiduciary requirements, every disbursement transaction must clearly document the Public Purpose if not readily apparent by the nature of the transaction.
• Each financial transaction should be able to stand alone during an audit, or contain the correct references. Appropriate documentation is essential.
Public Purpose Served
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Public Funds
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There must be a documented public purpose for each transaction. The public purpose documents the benefits to the university.
No Gifts, Contributions or Loaning of Public Funds
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Conflict of Interest
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Financial ControlsASU
Michael Kingery, Assistant Director, Financial Controls Purchasing Cards
Travel & Travel Cards
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Financial Controls - whatwe do: {
Departmental Reviews
Cash Handling
Purchasing Cards
Financial Controls Workshop
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Purchasing Cards:
What you need to know
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Intended for small $ general purchases
Should not be used for travel expenses
Fingerprints & online training completion required
Timely secondary reviews of transactions – key control
University-wide purchasing card reviews
Business purpose & prohibited transactions
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Travel & Travel Cards:
What you need to know
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Travel Policy:
- Mileage & per diem (lodging/meal) rates
- No receipts needed for per diem meals
- Defensive driving class for rental cars
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Travel Cards:
- Should be used only for travel expenses
- No alcohol on travel card
- No entertainment expenses except for business meals
- Should not be used when not in travel status
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Contacts for Financial Co
ntrols
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Contacts for Travel
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Purchases, Payments and
Reimbursements Processes &
Policies
Financial Services
Lily Tram, Director
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Purchases { University Procurement Code
Authority to Contract
Purchasing Process
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University Procurement Code
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Authority to Contract:
Who can authorize the purchase
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Chief Procurement Officer
Delegation to Purchasing & Business Services staff
Contract Signature Authority (PUR 202)
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Purchasing Process:
Which process for your purchase
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Internal Purchase Orders (PO) & Quick Turnaround Forms
Requisitions (RX) – External and Blanket Orders
Purchasing Card – Small $ general purchases
Payment Vouchers – Purchases not requiring a purchase
order
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Reimbursements{ Employee Reimbursements
Business Meals
Policies/Resources
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Employee Reimbursements:
What you need to know
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Accountable Plan Rules
Substantiation of Expenses
Types of Employee Reimbursements
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Accountable Plan Rules
• Employee must have paid/incurred expenses while performing services as an employee of ASU
• Employee required to account to ASU for the expenses within a reasonable period of time (generally 7-60 days of when paid/incurred)
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Substantiation of Expenses
• Amount of expense
• Time and place
• Public purpose
• Business relationship
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Types of Expense Reimbursements
• Travel expenses
• Business meals, food and related expenses
• Moving expenses
• Other expenses
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Business Meals, Food and Related Expenses :
What you need to know
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Types of expenses for business meals, food and related expenses:
• Business meals
• Receptions, banquets, and luncheons
• Food and refreshments at conferences, workshops, and seminars
• Food and refreshment supplies
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Business meals, food and related expenses policy:
• Business Meals, Food and Related Expense Form is required for each reimbursement/payment
• $40 per person threshold (requires additional approval)
• Gratuity not to exceed 20%
• No external party present, clearly justify expense
o
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Policies and Resources
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Where to find polices:
• FIN Manual• PUR Manual
Where to find helpful resources:
• Financial Services website (https://cfo.asu.edu/fs)• Purchasing website (https://cfo.asu.edu/purchasing)
– Purchasing Procedure Guide• Best practices• Forms
o
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Tax ServicesASU
Rachel Golliet, Associate DirectorTax Management
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What we do: {
Independent Contractor Determinations
Sales & Use tax
International employee support & Glacier
Moving Expense Reimbursements
International payments
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Independent Contractors:
What you need to know
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Tax services approves all independent contractors.
This approval should happen prior to services
beginning.
If the contractor will be paid in excess of $10,000 in a
calendar year ASU’s purchasing department may have
to get involved.
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Who will not be approved:
- Current employees (very few exceptions)
- Recent employees being brought back to complete
the same job duties
- Professors of record or ones teaching for-credit
courses
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Who does not need to get approval:
- Speakers or guest lecturers that will be teaching for less than 2 weeks
- Expense reimbursements only- no income or honorarium payment
- Cumulative payments less than $600 in a calendar year
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How to get approval:
1. Have the independent contractor fill out the Employee/Independent Contractor
Determination Checklist.
2. Send to Mail Code: Fax to (480) 965-2625. Please do not send through email as the form
asks for social security numbers.
3. Tax will review and contact with any questions. Once signed it will be returned. Department
will need to attach this approved checklist to any payments being made from ASU
accounts.
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Sales and Use Tax:
What you need to know
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Common Exemptions:
- Lab/research equipment
- Services
- Books purchased for the library
- Separately stated shipping/freight
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In order to not pay tax on a purchase the department
will need to fill out a AZ5000 form listing the exemption
code. For help on if a purchase is tax exempt please
reach out to ASU tax services.
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International Employment & Glacier:
What you need to know
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Every International employee, Faculty, Staff or Student
needs to complete a Glacier record.
Also, any international students receiving a scholarship
in excess of tuition or fees will need to complete a
Glacier record.
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Completing this record, as well as submitting the
required documents to Tax Services will ensure that
ASU stays in compliance with USCIS guidelines. It will
also allow the individual to elect to take advantage of
any tax treaties or other tax benefits that their status
may provide.