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Finance Forum
12 April 2012
Welcome & Overview
• Peter Shipp
Finance and Business Services
Overview • Intro & Welcome
• Introducing Jaya Ganasan, Associate Director, Business Services
• Procurement – update
• FBT in the ledger
• Training – update
• Kush – on how it has been moving to F&BS?
• “Thoughts from You” Any issues, contributions &/or suggestions Finance Forum attendees would like to raise
• Afternoon tea
• Continue “Thoughts from You”
• 2012 Policy Action Group
• Review of F&BS
• What format would you like future Forums to take?
Procurement Update
• Ron Robertson
April 2012 – Procurement and Fleet Newsletter 2012‐1
http://info.anu.edu.au/fbs/Business_Functions/Purchasing_and_Contracts_Office/Newsletters
UNIVERSITY PROCUREMENT & CONTRACTS OFFICE (UPCO)
FBT in the ledger
• Luke Beckett
7
Fringe Benefits Tax Expense AccountReport Id: Z0195038 V2.0 The Australian National University Run Date:
Operator ID:
Financial Management Report Run Time:
Scope: Z0195038 - Financial Management Report No As of Date: 18/03/2012 File.xlsx
Layout ID: ANU20924Z.xnv Fund Code: R - Recurrent Operations
Tree: BUDGET_ACCOUNT
S_R Department: Project:
Movement for Period 3 Budget YTD Movement Outstanding Encumbrances Total (YTD Movement +
Encumbrances) Variation % Spent
Total IncomeStudent Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Other Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Internal Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Internal Allocations 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Operating Grant 0.00 581,818.00 581,818.00 0.00 581,818.00 0.00 100.00%Investment Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00%
Total Income 0.00 581,818.00 581,818.00 0.00 581,818.00 0.00 100.00%
Total ExpenditureSalaries & Related Costs 43,208.09 581,818.00 135,780.60 443,746.67 579,527.27 2,290.73 99.61%Equipment - Capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Equipment - Non-Capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Scholars Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Utilities & Maintenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Travel Field & Survey Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Expendable Research Materials 0.00 0.00 0.00 0.00 0.00 0.00 0.00%
Other Expenses
5590 Fringe Benefits Tax Payable 0.00 0.00 (604.85) 0.00 (604.85) 604.85 0.00%
Fringe Benefits Tax 0.00 0.00 (604.85) 0.00 (604.85) 604.85 0.00%
Other Expenses 0.00 0.00 (604.85) 0.00 (604.85) 604.85 0.00%Contingency 0.00 0.00 0.00 0.00 0.00 0.00 0.00%
Total Expenditure 43,208.09 581,818.00 135,175.75 443,746.67 578,922.42 2,895.58 99.50% Current Year Operating Result ($43,208.09) $0.00 $446,642.25 ($443,746.67) $2,895.58 $2,895.58
Transfers Inflow/(Outflow)Transfer from other 0.00 0.00 0.00 0.00 0.00 0.00 0.00%Transfers to other 0.00 0.00 0.00 0.00 0.00 0.00 0.00%
Transfers Inflow/(Outflow) 0.00 0.00 0.00 0.00 0.00 0.00
Net Current Year Operating Result ($43,208.09) $0.00 $446,642.25 ($443,746.67) $2,895.58 $2,895.58
Prior Year Cash Result 0.00 0.00 0.00 0.00 0.00
Net Operating Position ($43,208.09) $0.00 $446,642.25 ($443,746.67) $2,895.58 $2,895.58
Percentage of Year Elapsed 23%
Fringe Benefits Tax Expense Account
8
Why is the Fringe Benefits Tax Expense
Negative?
Fringe Benefits Tax Expense Account
• The answer is the Provision for Fringe Benefits Tax
• A provision is raised for estimated FBT incurred from 1 April to 31 December– For benefits other than Meal Entertainment
coded to 5583 and Other Benefits coded to 5581
– Includes FBT on Motor Vehicles, LAFHA, Housing, Relocation, Gifts and HECS
9
Fringe Benefits Tax Expense Account
10
Financial Year End
FBT Year End
FBT Provision
FBT Provision for the period 1 April to 31 December is raised
FBT Provision for the period 1 April to 31 December is reversed
Actual FBT Expense for 1 April to 31 March
Training Update
• Margaret Eichholzer
• Remember Courses can be run on request.• FBS028 Procurement 101 - Session 004 in
June is open for enrolments. (Session 003 is specifically presented for CBE)
• UPCO Pulse Online Learning Course: http://hr.anu.edu.au/career/pulse-online-learning
ANU Modules - Procurement 101: Purchasing at ANU
My move to F&BS
Kushagra Jha
Accountant
Special Purpose Funds
X 58790
My move to F&BS
Working at the Central Finance Office
School to Central
My move to F&BS
Opportunities
My move to F&BS
To sum it up..
My move to F&BS
Questions?
“Thoughts from You”
• Any issues, contributions &/or suggestions Finance Forum attendees would like to raise
Finance Forum
Afternoon Tea Break
“Thoughts from You” (cont.)
• Any issues, contributions &/or suggestions Finance Forum attendees would like to raise
2012 Policy Action Group
• Margaret Eichholzer
ANU by 2020 ANU has a devolved administrative structure, which is appropriate
for an institution which has a broad range of discipline norms and local missions. To work efficiently, such a structure requires:
• clear organisational lines• clear policy guidance• efficient, integrated information systems evolved under best
practice ICT governancehttp://about.anu.edu.au/__documents/strategic-plans/anu-2020-strategy.pdf Page 24
2012 Policy Action Group (cont.)
• Consistent with this commitment in the ANU by 2020 a new policy framework for ANU is being developed and a review of policies/procedures/guidelines is underway.
• Representatives from all areas responsible for these are participating.
• F&BS ensured all our policies and procedures were reviewed in 2010 but we are aware of the need for constant review.
2012 Policy Action Group (cont.)
• My favourite policy is: Policy: Expenditure Approvals Policy
http://policies.anu.edu.au/policies/expenditure_approvals_policy/policy
• What is your favourite policy?
• If you have any concerns about finance related policies/procedures/guidelines please let me know.
2012 review of Finance & Business Services
• Peter Shipp
http://about.anu.edu.au/strategy-reviews/administration
F&BS would appreciate your participation in the review please.
2012 review of Finance & Business Services (cont.)
Purpose •Determine if there is alignment of goals of F&BS with that of the University’s Strategic Plan. •Review the F & BS’s fitness for purpose, that is, the quality, efficiency and effectiveness of services and communication between the Unit and the University community to enable the University to meet its strategic plan •Review the success of the F & BS’s current continuous improvement strategies and assess capacity of future strategies to deliver improvements to strategic priorities and services, and the overall contribution to the University’s culture of continuous improvement. •Review the effectiveness of F & BS’s strategies for staff recruitment, retention and development (including workforce planning) to meet the core business needs.
2012 review of Finance & Business Services (cont.)
Making a submission to the review
The reviewers would welcome written submissions to the review. If you would like to make a submission, could you note the following;•There is no specific template, but please frame submissions around the Terms of Reference. •Submissions should be no longer than 2 pages. •Submissions are not confidential documents, and should not contain information that could be considered personal or private. •To ensure inclusion in the review process, submissions should be emailed to [email protected] by Monday, 30 April 2012.
•Information or enquiries about the review should be addressed to
What format would you like future Forums to take?
• Margaret Eichholzer
Simple paper handout to be filled in please.
Questions?Close!
