University Finance Fundamentals

University Finance Fundamentals (UFF) is a ten-month a la cart training series designed for all employees with accounting and finance responsibilities – including support staff. Each month, FMS Training will host a presentation from a subject matter expert within the key functional areas of the University Controller or University Budget Office.

The presentations will focus on the interdependent performance relationship between the groups within the University Controller and University Budget Office’s, IU departments, and UFF participants, and will pay particular attention to how individual business practices and transactional decisions impact the overall financial health of Indiana University.

Participants may attend the presentations in-person on the IU Bloomington campus or online in a web conference meeting room. Online participants will hear the same presentation as in-person participants, and will be encouraged to ask questions and participate in activities to the same extent as in-person participants. While in-person seating will be limited to 25, close to 300 participants will be able to join UFF virtually.

In the inaugural, 2017-18 UFF season, over 500 staff members from all seven of IU’s campuses attended at least one UFF session. Of those who attended, 95% would recommend the UFF trainings to a colleague. We hope you’ll join us!

 

To subscribe to the FMS Newsletter and receive updates regarding UFF, please complete the FMS Newsletter form.

Register for a UFF session!

Schedule

Financial Policies

Policies drive the procedures we follow on a daily basis and help us responsibly steward IU funds. Anna Jensen, Associate Vice President & University Controller, will host our Financial Policies presentation and discuss key financial policies at the university. Anna will cover policy creation and review, and offer guidance regarding policy interpretation.

Attendee feedback: "Clear and thorough overview of policies -- makes one of aware of what one doesn't know.”

Presenter:Anna Jensen, Associate Vice President & University Controller

Date: Thursday, August 22, 2019

Time: 1:30-3:15 p.m.

Chart of Accounts

IU’s annual budget is around 3.5 billion dollars per fiscal year. How does the university keep all of its financial information organized? Bill Overman, Manager of Financial Reporting and University Chart, will discuss the system’s infrastructure as well as how departmental activity impacts financial reporting for the university as a whole.

Bill will also describe how IU’s financial infrastructure can be put to work in IUIE. This session is not a hands-on IUIE course, however. For more detailed instruction in IUIE, register for a training session with the FMS Training team.

Attendee feedback: “I thought the training provided a good amount of detail in ways that were quite applicable to the general user.”

Presenter: Bill Overman, Manager or Financial Reporting and University Chart

Date: Thursday, September 5, 2019

Time: 9-10:30 a.m.

Non-Student Accounts Receivable

You may not realize it, but IU sells goods and services to entities outside of the university and across the globe. Benjamin Rudman, Non Student Accounts Receivable & Crimson Card Manager, will host this UFF presentation. Ben will describe Accounts Receivable's role within the university and demonstrate how departmental staff can distinguish between customers and vendors as well as the appropriate use of invoice corrections, credit memos, and write-offs.

This session provides an overview of accounts receivable activity at IU. Hands-on trainings are held by the Non Student Accounts Receivable team on an as-needed basis. Contact nonstdar@iu.edu for more in depth training.

Attendee feedback: “Overview of transaction[s] used by departments other than mine. Everyone at IU needs this training! I liked the amount of very basic information.”

Presenters: Benjamin Rudman, Non Student Accounts Receivable & Crimson Card Manager 

Date: Thursday, October 3, 2019

Time: 9-10:30 a.m.

University Payroll

Everyone wants to be paid accurately and on time. What can you, as a staff member, do to ensure your employees, and yourself, are paid right the first time? Steve Miller, as HR Business Partner and Director of Employee Services, Training & Communications, will lead our session and provide an overview of IU's payroll process and describe everyone's roles and responsibilities. Steve will also discuss how university payroll policies should be applied to scenarios within your department.

This UFF session will provide an overview of the payroll process at the university. For step-by-step guidance check out the Procedures and Policies page on University Payroll’s website.

Attendee feedback: “I appreciate the time taking to discuss the payroll calendar and gain a better understanding of the process on the FMS side in addition to my part in the process.”

Presenter: Steve Miller, HR Business Partner and Director of Employee Services, Training & Communications

Date: Thursday, November 7, 2019

Time: 9-10:30 a.m.

University Tax

Susan Norrell is the University Tax Manager at Indiana University. She has been with University Tax Services since 2009 starting as a Senior Tax Compliance Officer, and moved to Manager in 2015. Prior to joining Indiana University, Susan worked as a tax consultant for Burger King’s World Headquarters in Miami, Florida. And before that was a supervising senior tax accountant for KPMG Peat Marwick for 7 years. She has a B.Acc. and a M.Acc.-Tax from the University of Florida.  Her responsibilities include maintaining compliance for tax-related issues and developing tax operational strategies for the University that follow IU policy, IRS, and other regulatory guidance.

Attendee feedback: “The presentation speaks really well and so easy to follow and understand.  Best class I have attended thus far.”

Presenter: Susan Norrell, University Tax Manager

Date: Wednesday, December 4, 2019

Time: 9-10:45 a.m.

Accounts Payable

You’ve procured goods or services on behalf of the university. Now, how do you ensure your vendor gets paid correctly and quickly? Marika Voukidis, Supervisor of Accounts Payable Operations, will host our Accounts Payable presentation and provide guidance. Marika will discuss how IU pays for items it purchases, tips for working with invoices and how departmental staff can help ensure timely and accurate payments to our suppliers.

Marika's presentation offers an overview of the Accounts Payable process. For more information about IU's new procurement system, BUY.IU, register for Purchasing's BUY.IU training.

Attendee feedback: “The training was well-organized and flowed pretty smoothly. I could hear just fine online using Zoom. I think the pace was good and the materials enhanced the training. Thank you for the opportunity to attend this training!.”

Presenter: Marika Voukidis, Supervisor of Accounts Payable Operations

Date: Wednesday, January 15, 2020

Time: 1-3:00 p.m.

University Budgeting

You’ve probably heard talk of budgets at IU, but what do budgets consist of? How do your day-to-day actions affect them? Alicia Robertson, Associate Director in the University Budget Office, will discuss the importance of budgeting at IU, as well as where the university's resources come from. Departmental staff will learn about the budget construction process, along with their role in that process.

Alicia’s presentation provides an overview of budgeting at IU. For more in depth instruction, contact the University Budget Office.

Attendee feedback: “Alicia vast knowledge of the budgeting process and wonderful way of presenting the information.”

Presenter: Alicia Robertson, Associate Director University Budget Office

Date: Wednesday, February 12, 2020

Time: 1:30-3:00 p.m.

Auxiliary Accounting and Recharge/Service Centers

Simply put, IU’s mission is to support the students, staff, faculty, and communities where its campuses are located. Activity that falls outside of IU’s mission is referred to as auxiliary. Amy Pfaff, Manager of Auxiliary Accounting will demonstrate how to distinguish auxiliary activity from other fund group activity and describe the reporting requirements for auxiliary units. 

Closely related to auxiliary activity is recharge/service center activity. Amy will also explain the importance of recharge/service center activity to the university, as well as the risks associated with non-compliance.

This session provides an overview of auxiliary accounting at IU. For more in depth training, contact the auxiliary accounting group by emailing auxacct@iu.edu.

Attendee feedback: “One of the better video conferences I've attended - visuals were good, the pace was good, very organized (flowed very well), the presenter was very good, very knowledgeable.”

Presenter: Amy Pfaff, Manager of Auxiliary Accounting

Date: Wednesday, March 4, 2020

Time: 9-11:00 a.m.

Capital Assets

When you hear the words “capital asset” what comes to mind? A giant piece of machinery? Probably, but even small items may be categorized as capital assets. How do you know which ones? Joy Maddox, Manager of Capital Assets, will host our Capital Assets presentation and instruct departmental staff how to identify capital assets, the correct object codes to use for different capital purchases, and how their actions impact IU's capital asset inventory.

Joy’s presentation provides an overview of the capital asset process at the university. Hands-on training is offered by the Capital Asset Management team twice a year. Email capasset@iu.edu for more information.

Attendee feedback: "Excellent, applicable, real-world examples. You guys took what should have been a boring, mundane topic and made it engaging and enjoyable. Well done.”

Presenter: Joy Maddox, Manager Capital Assets

Date: Thursday, April 16, 2020

Time: 9-10:30 a.m.

Financial Systems Administration

The General Ledger is the official record of IU’s financial and budget information. How are these records created? Sterling George, Director of Financial Systems Administration, and Tracey Mui, Financial Systems Analyst, will demonstrate how General Ledger entries, including offsets and accruals, are created. Attendees will also learn about the year-end closing process, deadlines, and actions they can take to ensure a smooth year-end.

Attendee feedback: "I am very grateful for your time and training over the years. I owe a great deal of my abilities and learning to your time and attention you have given me over the years.  THANKS!!”

Presenters: Sterling George, Director Financial Systems Administration; Tracey Mui, Financial Systems Analyst

Date: Wednesday, May 27, 2020

Time: 9-10:30 a.m.