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The Keck School of Medicine of USC
Finance Manager’s Meeting
January 18, 2018
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Agenda
1. Introduction
2. FY 19 Budget Kick Off
3. Business Purpose Documentation
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FY 19 Budget Kick Off
KSOM Budget Timeline – FY2019
2018Jan Feb Mar
Budget Kickoff Meeting1/18/18
Budget Submission due to UPC
3/9/18
Senior Administrator's Meeting
1/10/18
Lawson Budget System Opens
1/24/18Lawson Budget System Closes
2/14/18
2/7/2018
Hospital Support Meetings
Department Budget
Hearings
1/22 ‐ 2/9/18 2/20 – 3/02/18
2/23/18KSOM Revenue Meeting with UPC
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FY 19 Budget Timeline Date Process
01/10/18 HR—Manager’s evaluations for staff due in Workday (done?)
01/12/18 Tuition Unit Projections Due (DONE!)
01/11 – 01/17/18 HR‐‐Managers conduct “one‐on‐one” staff reviews (done?)
01/18/18 Budget kick off meeting with department finance managers
01/18/18 Lawson LPB and Workforce new user training
01/22 – 02/09/18 Clinical department hospital support meetings
01/23 & 01/25/18 Lawson LPB and Workforce refresher – 2 sessions
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FY 19 Budget Timeline (cont’)
Date Process
01/17/18 HR—Staff employees to sign performance review in Workday
01/24/18 Lawson opens for budget input
01/31/18 HR—Managers to sign performance review in Workday
01/31 & 02/08/18 Lawson LBP and Workforce open lab – 2 sessions
02/14/18 All department budgets due. Lawson closes
02/20 – 03/02/18 Department budget hearings
03/09/18 KSOM budget submission due on TBO
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https://keck.usc.edu/finance/budget‐2019/
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• Timeline• Budget partners and contact information
Clinical Departments—Jeff Sawada and Mylam Le Basic Science and Research Institutes—Catherine Velazquez and
Charles Albrecht
• Presentation materials • Lawson and Beacon quick links• Lawson training manual and quick guide
Budget Website Contents
Help!
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University RatesFY 18 FY 19
(subject to change)Undergrad Tuition Increases 4.0% 3.5%Participation 9.2% 9.4%Other University Charges (FIF/Credit Card)
6.65% 6.85%
Fringe Rate (non government) 33.5% 33.5%Fringe Rate (government) 31.1% 33.2%Fringe Rate (postdocs) 22.5% 22.5%Fringe Rate (clinical faculty) 17.65% 17.65%Federal IDC Rate 65% 65%CAP RIC 19.7% 19.7%TCC increase 2.2% 3.3%HSC IT Fees Tiered Rates Tiered Rates
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• All employees (both staff and faculty) must have 100% funding for 12 months
• Shared employees should be released early to allow other department to enter their share of funding
• Merit increases must be entered for both faculty and staff• Employees must have performance review completed in
Workday to be qualified for merit increases• Faculty core salary change requests need to be approved
by Faculty Affairs before entering in Lawson• Salary budget lines—no more overlapping date issues
Salaries and Wages
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Salaries and Wages (cont’)• Salaries from December 2017 pay periods are rolled into Lawson from Cognos BI Labor Ledger/Workday HCM Validation• Please review to make sure everyone rolled over and rolled over correctly
• Pay particular attention to employees on disability, sabbatical, other leave
• If you have any new hires after December you need to make sure they are either entered into Lawson or set up as an open position if not hired by budget deadline
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• All employees (both staff and faculty) must have 100% funding for 12 months• Proposed salary reduction: Company 110 –98000000000000
• Funding outside KSOM: Company 110 –99000000000000
• Shared employees should be released early to allow other department to enter their share of funding
Salaries and Wages (cont’)
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• Budget open positions individually instead of in one pool
• Budget promotion increases (i.e. Asst. Prof to Associate Prof) to open position with name in comments field
• Clinical faculty incentives must be seasonalized (quarterly, bi‐annually or annually)
Salaries and Wages (cont’)
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• Employees must have performance review completed in Workday to be qualified for merit increases
• Merit increases • Assume a merit pool of 3% for staff compensation until confirmed. Salary pool will be evaluated against University guidance and Project Renewal
• Any merit increase over 5% for an employee must be accompanied with a separate justification
• Consult with Faculty Affairs before requesting any changes to faculty core salary in Lawson
Salaries and Wages (cont’)
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Helpful ReportsWorkday Reports• HCM Data Validation Report
• Calculate annual salary• Check for new rates, employees, etc
Cognos BI Reports• Labor Distribution Detail
• Record of how people were paidFaculty Affairs
• FY19 Budget Planning Sheet
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Grants• Loss of grant funding triggers planning for “Unfunded Faculty”• Plan for use of CU or Gifts
• Research Support/Lab Staff should be on an actual grant/gift account or terminated if grant ends
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Grants• Only budget for Grants in your Program Code
• Do not budget for IDC, Direct Costs only• Budget for awards that you are certain will be awarded in FY19• Non‐competitive continuations• New grants with 100% certainty will be awarded or have a NOA on hand
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Grants• Lawson has a generic grant account for each department 53‐XXXX‐0000‐9999
• This will be interfaced to USC Workday and translated to USC designated dummy:22‐XXXX‐8888• At transition of new fiscal year, all expenses or pending payroll from this account must be removed
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• Departmental ’51’ accounts will be available to budget in Lawson
• Lawson has a generic clinical trials account for each department 51‐XXXX‐0000‐9999
• If income related to the trials do not materialize:• Plan to use other funding for staff• May have to reduce staffing
Clinical Trials
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• Revenue Net patient service FY 18 YTD growth 7.7%
• Net income Clinical service will be able to budget profit/loss as a transfer
in/out of clinical reserve Department must have positive reserve in order to budget loss
in FY 19
• Research support and capital expenditure Transfer should come from clinical reserve instead of current
fiscal year operating budget
Clinical Budget
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Clinical Revenue
FY 17PYTD Actual FYTD Actual Change FYTD Budget Variance
Patient Service 94,129,264 101,408,352 7.7% 101,543,544 (135,192) Hospital Support 35,657,357 42,108,984 18.1% 42,303,035 (194,051) Other Revenue 13,516,740 14,457,039 7.0% 15,565,411 (1,108,372)
Total 143,303,361 157,974,375 10.2% 159,411,990 (1,437,615)
FY 18
7.7% ∆ YTD 7.2% ∆ YTD
As of December 31As of December 31
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Clinical Tax Rates (no Change)FY 18 FY 19
Dean’s Tax 5.0% 5.0%USC Care MSO Tax (Prof) 6.5% 6.5%USC Care MSO Tax (Tech) 1.0% 1.0%CBO Fee (Prof) 5.3% 5.3%CBO Fee (Tech) 5.3% 5.3%CBO Fee (Pharm) 1.0% 1.0%CBO Self Pay 8.0% 8.0%CBO Pass Thru (coding and PK) Variable Variable University Development 1.0% 1.0%USC Care Ambulatory Overhead 22.5% 22.5%
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• Salary budget lines—no more overlapping date issues
• Hourly refreshing of all reports• Reporting enhancement in Beacon
• RW100 (Budget by fund type)• New budget reports
Key Improvements
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Category3b Clinical CU Gifts Grants MSOA Rebillables Recharge Total
Clinical Faculty Compensation
Clinical Faculty Incentive Compensation
Fringe Benefits
Other Faculty Compensation
Staff/Non-Faculty Compensation
Total Compensation and Benefits
Leases and Rental Equipment
Operations and Maintenance
Purchased Equipment
Rent
Total Occupancy/Equipment
Other SS&G
Professional & Consulting Services
Professional Development
Purchased Services (eg. Outsourcing)
Purchases for Resale
Subcontracts
Supplies
Travel
Total Supplies, Services & General
0 0 0 0 0 0 0
FY 18 Budget 2,867,359 1,711,649 14,524,835 8,965,939 24,972,320 1,526,640 1,378 54,570,120
Variance (2,867,359) (1,711,649) (14,524,835) (8,965,939) (24,972,320) (1,526,640) (1,378) (54,570,120)
Non-Mandatory transfers
Other Expense
Other Income
Total Adjustments
Allocation
Compensation and Benefits
Occupancy/Equipment
Supplies, Services & General
Total Expenses
Beacon BI Reporting System
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Beacon BI Reporting System
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Beacon BI Reporting System
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Business Purpose Documentation
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When: January 18, 2018What: Lunch expense for KSOM Finance Manager’s MeetingWho: 78 KSOM department staff attendedWhere: ZNI conference room Why: Review FY 19 budget process and business purpose documentation
Good Business Purpose Example 1
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When: January 16‐18, 2018What: Travel reimbursementWho: Dr. Donald DuckWhere: Disney World, Orlando, FLWhy: To attend 2018 AAMC conference as a guest speaker
Good Business Purpose Example 2
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• Reimbursement exceeding policy limit1. Lodging expense exceeding $450/night2. Meal expense exceeding $100/person*As a reminder, no alcoholic beverage allowed on government contracts (i.e. grants, MSOA)
DVQE
Auto workflow No need to ad hoc
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• Reimbursement requires SBOApproval1. Sedan Service2. Missing receipt declaration (need to provide
shipping receipts or any other documentations, e.g. email from vendor)
DVQE
Ad hoc => Melody Chun
User name “tuw”
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• Reimbursement requires VPApproval1. Sponsorship 2. Gift over $100
DVQE
Ad hoc => Melody Chun
User name “tuw”
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• P‐card and Travel card: 1. Account number change2. Credit limit increase/decrease, maximum $14K3. One time limit increase 4. Add merchant code5. Cancel cards
Corporate Card Change Request
Ad hoc => 1. Department Administrator2. KFS Group MedFinance
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Include business purpose of the request, e.g.:
• New user (new employee, transfer, etc)• New account(s), organization codes• Updating DVQE/e‐Statement supervisor• Account approvers
Kuali/eMarket User Access Form
Ad hoc => 1. Department Administrator2. KFS Group MedFinance
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• Card type: Pre‐paid one‐time cards Pre‐paid recurring clin cards (reloadable)
• Process in eMarket (Request Form Prepaid One Time Card or Recurring ClinCard, not in Kuali)
• Requires PI or department administrator’s approval to be uploaded as an attachment in eMarket
Pre‐paid Cards
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• It requires pre‐approval by the Provost before travel occurs
• Process:• Department sends request memo to Carmen Sahagun at KSOM Finance. She will facilitate approval process (by Ted Budge, Dean and the Provost)
• Upload the approved memo and submit with DVQE
Business Class Travel
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Questions?