CI Financial Reports: Stage 1 Reports Release Chief ... · Stage 1, Aug 2014 4 Reports 10 Stage 2, mid 2015 4 Reports updated 6 Reports new CI Portfolio Financial Summary Subproject

Chief Investigator Briefing Session Guide

Chief Investigator Financial Reporting Project

CI Financial Reports: Stage 1 Reports Release

Stage 1 Chief Investigator Financial Reports

Welcome

2CI Financial Reports Briefing Session

Agenda

• Welcome

• Purpose of the CI Financial Reports

• How were the Reports developed?

• Stepping through the Reports?

• How do we receive the Reports?

• Where do we go for assistance?

• What’s next?

• Questions and Close



Purpose of the CI Financial Reports


CIFR Project was initiated to develop research

project financial reports that …

Meet Chief Investigator requirements

Clear and intuitive structure

Facilitate CI ability to assess / monitor financial health of a project

Highlight critical financial situations

Reduce academic and professional staff report interpretation, administration time

Consistent (and University wide) approach to research project financial reporting



How were the Reports developed?


How were the CIFRs developed?

1. Chief Investigator (CI) Reference Group established

• Comprises 12 Chief Investigators

− represent all Colleges

− have research projects that vary in financial complexity

− manage a varied number of research projects, 1 to 15 projects

− have different levels of financial proficiency

• Reference Group purpose: to develop the reports that meet Chief

Investigators’ needs


How were the CIFRs developed?

2. Report Design Approach

• Reference Group invited to use a green field approach in report

design i.e. ignore any financial system limitations /constraints

• Chief Investigator requirements were defined and agreed by the

Reference Group in meetings and workshops

• Financial Reports were designed based on user requirements

(assisting the Reference Group in the design: Service Improvement

Group, Finance and Business Services, Research Accounting,

Performance Planning and Measurement and Research Services

Division)

• CI Reference Group held workshops and meetings to review and

amend several report iterations

• Final design approved by CI Reference Group


How were the Reports developed?

3. Other Stakeholder Feedback

• Chief Investigator Control Group established

• 7 CIs not involved with the project reviewed the reports and provided

feedback

• The CIs from the Control Group confirmed the Chief Investigator

Reference Group approach and favoured the reports

• College Finance Managers and School Managers provided feedback in

workshop sessions and meetings

4. Report Build and Deployment

• Reports have been tested by; Chief Investigators from the CI Reference

Group, Finance Systems Analysts, Research Accounting and College

Finance

• Reports are emailed directly to CIs or access is provided by the ANU

Insight which is the ANU Information Management Intelligence System


Stages Report Development and Release

Stage 1, Aug 2014

4 Reports

10

Stage 2, mid 2015

4 Reports updated

6 Reports new

CI Portfolio Financial Summary

Subproject Financial Summary

Project Life Budget Class Summary

Transaction Report

CI Project Portfolio Funds Financial Year

CI Project Portfolio Income Schedule

Project Budget by Financial Year

Project Budget by Project Year

Project Salaries & Cost by Financial Year

Project Salaries & Cost by Project Year

CI Financial Reports Briefing Session



Stepping through the Reports


Chief Investigator Portfolio Financial Summary


• Contains a list all projects and

subprojects held by Chief Investigator in

the Chief Investigator’s name

• Provides summary financial information

from the start of the project to the

current financial period

• Shows funds available now – Current

Available Funds – based on income to

date minus expense and commitments

• Shows funds available based on total

grant funds, – Projected Available

Funds – based on the original funds

awarded minus expense and

commitments. Note salary commitments

only include up to 31 December for the

current financial year

This report is only sent to the owner of the

grant – the researcher nominated as the

Chief Investigator/ Primary Investigator

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CI

Identification

Project

Identification

Plain

English

The Bottom

Line

GLC: Project

unique

identification code

Donor Reference Number:

The reference number used

by the funds provider to

identify the grant in their

records

Project Start

Date: Original

commencement

date of the

project

Original Funds

Awarded: The original

grant amount awarded

by the funds provider

Income to be

Received: Income

still outstanding, to

be received

Income Received to Date:

Income received and credited

to the project account as at the

date of the report

Expenses Paid to

Date: Expenses

incurred in the project up

to the date of the report

Commitments: An established commitment (also known

as encumbrances) such as salary encumbrances for the

year (ending Dec 31) and/ or purchase orders that will be

incurred in the future. Also includes manual commitments

such as collaborators/ external researcher payments.

Projected Available Funds: Projected funds remaining

when all expenses paid and commitments are subtracted

from Original Funds Awarded (Calculation: Original Funds

Awarded minus Expenses Paid to Date plus Commitments)

Current Available Funds:

Current funds available based

on income received to date

(Calculation: Income Received

to Date minus Expenses Paid

to Date plus Commitments)

Project End Date:

Completion date of

the project

ARIES ID: ARIES

project identification

number

Project Name:

project descriptive

name

Initial Expense

Allocation: Project

expenditure budget

when original funds

were awarded


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Report as at Date - The end date at

which financial information is provided,

accounting period end date.

Negative Values – a zero $ figure appears in the

Original Funds Awarded column if there is no Original

Funds Awarded (i.e. budget) in the finance system

and results in a negative Income to be Received

figure and negative Projected Available Funds

figure


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The Total – The summation

of all the project and

subproject accounts for which

a Chief Investigator has

responsibility

Disclaimer


Calculation reference –

These letters show how the

calculations have been

derived



• Structured in the same way as the Portfolio Financial Summary Report except that the

CI owner of project and subprojects is identified. These can be different CIs

• Lists the main project account, and all subprojects that collectively make up one

project.

• Provides summary financial information from the start of the project or subproject to

the current financial period.

Project

Identification

CI Name Project Total Same as Portfolio

Financial Summary

Report


Project Life Financial Summary Budget Class


• Provides financial information broken

down into budget categories.

• Provides a summary of income and

expense from the start of the project to the

current financial period.

• Divided into 4 sections:

− Project Identification

− Quick reference showing: the current

financial status of the project, % of

funds spent, and Current and Projected

Available Funds at this point in time

(end of a financial period)

− Income by budget category

− Expenses and Commitments in budget

categories

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Project

IdentificationQuick

Reference

Income

Expense

Remaining

Funds


CI Financial Reports Briefing Session 21

Project Transactions


• Lists project transactions for the current

period, and project commitments for the

whole project.

• Provides a description of the transactions

(income or expense) and relevant budget

class.

• The report has 4 sections;

− Project Identification

− Quick reference showing, for, the

current period: opening balance,

income and expense transactions, and

closing balance.

− Transactions this period

− All commitments for the life of the

project except for salary commitments,

which only extend to 31 Dec of the year.

23

Transactions

Project and CI

IdentificationQuick Reference – Current

position, Income transactions,

Expenses transactions,

remaining position

GLC


Transaction

Total


Commitments

25

Total

Commitments








How do we receive the Reports?


How do we receive the reports?

32

Email

All emailed

Reports are in

PDF Format

Accessing Reports via link

in Email to Insight system

Reports can be downloaded

as PDF or Excel

Logging directly into

Insight system

Step by step guides in

how to access each

report are provided


Report Packages

33

Portfolio report pack

User guide: Step by Step – Portfolio Report

1. Portfolio Report Pack • Is emailed to all Chief Investigators

• Includes:

the Chief Investigator Portfolio

Financial Summary

• Has a link to the Insight System that

takes Chief Investigators directly to

their reports

• Reports can be produced in Excel

and downloaded

• CIs can access previous financial

period reports via the Insight System


Report Packages

34

2. Project Report Pack • Is emailed to all Chief Investigators

with 4 or less projects

• Includes:

the Project Life Budget Class

Financial Summary Report

Project Transaction Report

• Chief Investigators with 5 or more

projects will need to access their

reports via the Insight link provided

in the Portfolio Report Pack email

Project report pack

User guide: Step by Step – Project Report


Report Packages

35

3. Subproject Report Pack • Is emailed to all Chief Investigators

with 4 or less projects

• Includes:


Report

Project Life Budget Class

Financial Summary Report

Project Transaction Report

• Chief Investigators with 5 or more

projects will need to access their

reports via the Insight link provided

in the Portfolio Report Pack email

Subproject report pack

User guide: Step by Step – Subproject Report


How To Access and Run Reports In Insight Portal

The following Access and Navigate instruction Guides are provided

• How to log into ANU Insight Portal

• How to Navigate the ANU Insight Portal

• How to run a report in the ANU Insight Portal

A number of Step By Step Guides have been produced that provide instruction on how to access CI Financial Reports

• Step by Step – Portfolio Report

• Step by Step – Project Report

• Step by Step – Subproject Report

These are available in the CI Financial Reporting webpage at http://unistats.anu.edu.au/anu-insight/reports/ci-financial


http://unistats.anu.edu.au/anu-insight/reports/ci-financial

Accessing Reports - Overview

37

When you first access the portal you will be directed to the ANU Insight portal home

page as shown below:


38

When the Financial category is clicked, you get the sub-categories as shown below,

which also contains the CI Reporting tab:

Left click once on the Financial Menu Header

This would then open and display the Financial sub menu:

To access the reports, the user then selects the sub menu category by left clicking once. For

example, to access CI Reporting this would mean clicking on the CI Reporting sub menu

option.

This would then access the Chief Investigator Reporting page.


39

CI Reporting Page

The CI Reporting Page provides a

list of reports which can be accessed

and run in the portal.

If you hover your mouse over the

report a description of the report will

display


Run a report

The Portfolio report pack can be seen at the top of the Reports list

on the left hand side of the screen.

To run the Portfolio report left click once on the report name.

The first thing which will run is the Portfolio Report Prompt page.


41

The Portfolio report is run for an individual Chief Investigator for a

specific financial period. Therefore a user must tell the report which

Chief Investigator and which financial period to run the report for. The

prompt page is used to do this.


• Most Chief Investigators will know their own User ID and should select this option. You can select

an option by left click once in the radio button (circle) next to the option you would like to choose.

If you do, you will be asked on the next screen to enter your ID as shown below:

• The second option a user needs to select on the first page is which financial period to run the

report for.

o If a user selects the current period, the report will automatically run for the latest period without

the need for further selection.

o If a user wants to run the report for a period other than the current period, the user needs to

select the Other Periods option.

o If the other periods option is selected the user will be presented on the next prompt page with

Two drop down menus as shown below


• After you press Finish you will see a report is running

dialog box as shown following:

• Once the system has retrieved the data, the Portfolio

Report will be displayed.

43

Important

The Finish button must be pressed before a report can be run and will

remain greyed out until all required prompts have valid values selected.



Where do we go for assistance?


45

Getting Assistance


Getting Assistance

Computer Based Training

Briefing sessions for new CI and professional staffCI Financial Reports Briefing Sessions

HORUS online training:

https://horus.anu.edu.au/psp/sscsprod/EMPLOYEE/HRMS/

46

Course Code Course Session Nbr Course Start Date Course End Date Room

FBS067 0001 26/09/2014 26/09/2014 McDonald Room




FBS067 0005 10/02/2015 10/02/2015 TBA

FBS067 0006 12/03/2015 12/03/2015 TBA


https://horus.anu.edu.au/psp/sscsprod/EMPLOYEE/HRMS/


What’s next?


48

What’s next?

• Finance and Business Services are enhancing the current financial

systems to provide extended years budgeting and forecasting.

• TM1 - Development of project based budgeting (5 years) and forecasting

capability (10 years)

• This will enable the development of the remaining CI Financial Reports in

Stage 2

Stage 2 CI Financial Reports

• Release in 2015

• Consultation and Review

• Develop and Deliver Reports

• Retire FMRs



Questions and Close


50

Questions

We welcome your feedback

You can either provide it to us or email any feedback

or suggestions to the CI Financial Report Webpage :

[email protected].

Thank you


mailto:[email protected]

Documents

CI Financial Reports: Stage 1 Reports Release Chief ... · Stage 1, Aug 2014 4 Reports 10 Stage 2, mid 2015 4 Reports updated 6 Reports new CI Portfolio Financial Summary Subproject