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, Managing Director and University Chief Accountant, 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: "IU policies are much less opaque now. They seem more accessible. Appreciated that the presentation highlighted some common/important policies.”

Presenter: Anna Jensen, Managing Director and University Chief Accountant

Date: Tuesday, August 21, 2018

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: “Bill Overman did an outstanding job of relating the information back to practical application of those in the training.”

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

Date: Thursday, September 6, 2018

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. Jennifer George, Director of Non Student Accounts Receivable, will host this UFF presentation. Jennifer 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: Jennifer George, Director, Non Student Accounts Receivable

Date: Thursday, October 4, 2018

Time: 1:30-3 p.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? Charlie Sinex, Director of Accounts Payable and Records Management, will host our Accounts Payable presentation and provide guidance. Charlie will discuss how IU pays for items it purchases, tips for working with invoices and disbursement vouchers, and how departmental staff can help ensure timely and accurate payments to our vendors.

Charlie's presentation offers an overview of the Accounts Payable process. For more information about disbursement vouchers, sign up for FMS's DV trainings. For more information about IU's procurement system, register for Purchasing's KFS Basic Purchasing training.

Attendee feedback: “The interaction between the speaker and the audience. The speaker was fantastic! Charlie did a great job of [describing] background reasons behind policy, etc.”

Presenter: Charlie Sinex, Director of Accounts Payable and Records Management

Date: Thursday, November 8, 2018

Time: 9-10:45 a.m.

University Tax

IU is a non-profit entity and doesn’t pay taxes..right? Actually it does! Join this session to learn more about taxable activity at the university. Cassandra Amadio, Director of University Tax, will introduce tax forms that are prepared each year and how your actions effect IU’s ability to remain compliant with the IRS, state, and local offices.

Attendee feedback: “Clear explanations, great examples. Cassie’s knowledge is great and she communicates complex subjects well.”

Presenter: Cassandra Amadio, Director University Tax

Date: Wednesday, December 5, 2018

Time: 9-10:45 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 Director of Payroll Operations, Customer Service & Training, will lead our session and give 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: “The presenter did a great job explaining how payroll functions, and using examples of everyday scenarios to explain complex issues. I also appreciated that online attendees could ask questions during the session.”

Presenter: Steve Miller, Director of Payroll, Customer Service, and Training

Date: Thursday, January 24, 2019

Time: 9-10:30 a.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: “The presenter was able to break down something that has overwhelmed me into very understandable terms.”

Presenter: Alicia Robertson, Associate Director University Budget Office

Date: Wednesday, February 6, 2019

Time: 1:30-3 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. Jennifer George, Director of Auxiliary Accounting, and 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. John Sparks, Manager of Cost Accounting, Cash Control & Custodial Funds, will 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: “Answers to questions I did not know I even needed to ask!”

Presenters: Jennifer George, Director Auxiliary Accounting; Amy Pfaff, Manager of Auxiliary Accounting; John Sparks, Manager of Cost Accounting, Cash Control & Custodial Funds

Date: Thursday, March 7, 2019

Time: 9-11 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: “Really good presentation and Joy had tons of great info to provide the group. A very good learning experience. Thank you.”

Presenter: Joy Maddox, Manager Capital Assets

Date: Thursday, April 18, 2019

Time: 1:30-3 p.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 finally understand accruals and the timing of the posting of transactions, as well as what’s going on behind the scenes in KFS on a daily basis.”

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

Date: Wednesday, May 29, 2019

Time: 9-10:30 a.m.