Finance Operations a. The University of Arkansas Fayetteville department of Finance and Administration provides certain financial services to the University of Arkansas Division of Agriculture. These services include, but are not limited to, the following:
Finance Operations. SSC Finance Operations provides customers with Accounts Payable and Travel & Expense services.
Finance Operations. SSC Finance Operations provides customers with Accounts Payable and Travel & Expense services. Finance Operations Key Performance Indicators Service Unit of Measure Enterprise Measure SSC Measure Customer Measure Accounts Payable Number of Completed Vouchers or ATV Distribution Lines Percent of Images Resolved within 30 Days of SSC Receipt Date Percent of Images Resolved within 15 Days of SSC Queue Time Percent of Images Resolved within 10 Days of College Queue Time 75% of Images Resolved at First Pass (FPY) Travel & Expense Number of Approved Expense Reports Percent of ERs Approved within 30 Working Days of Date Submitted Percent of ERs approved or returned within five (5) Working Days of SSC Queue Time Percent of ERs Approved or Returned within five (5) Working Days of College Queue Time 75% of ERs Approved by SSC at First Pass
Finance Operations. Xxx Xxxxx serves as Director of the Department of Finance. The Department of Finance consists of six (6) divisions and 56 employees. These divisions and the functions they serve are as follows: Administration & Business Systems • General Administration • Payroll • Financial Systems Purchasing • Procurement • Central Stores • Print, Copy, and Mail Center Accounting & Cash Management • Accounting • Accounts Payable • Debt & Investments • Cash Management Budget • Budget Development • Budget Monitoring Revenue Management • Accounts Receivable • Revenue Monitoring Utility Billing • Utility Billing for water, sewer and refuse collection. • Business License • Cashiering The City maintains its accounting records in Oracle Fusion, cloud-based software. Oracle Fusion is a fully integrated enterprise resource planning system. The system has Procurement, Store Inventory, Accounts Payable, Accounts Receivable, Project Management, Fixed Assets, Cash Management, Payroll and General Ledger modules. The City implemented Oracle ERP Financials in February 2021, excluding payroll. Human Resources/Payroll module with full integrated functionality referred as Human Capital Management (HCM) is currently in the system configuration and testing phase and anticipated to go live in 2023. Until the HCM implementation is complete, the City processes payroll through ePersonality 5.05, a stand-alone software application produced by Highline. The payroll output is interfaced with the general ledger. The City has a contract agreement with Xxxxxxxx Asset Management to manage the City’s investment portfolio for the past three fiscal years. Utility billing for water, sewer and refuse collection is handled by Xxxxxxxx HTE Public Sector Software. The City’s accounting and financial reporting functions are centralized. Physical and electronic accounting records are on-site in the Department of Finance. Some supporting information may be located in other departments or in storage files maintained off-site. The City has been audited by the firm of Xxxxxx Xxxx & X’Xxxxxxx LLP (MGO) for the last nine fiscal years, ending June 30, 2022.
Finance Operations. The VCTC has a staff of 21 employees. All accounting functions are performed in-house by the Finance Director, Senior Accountant and Accounting Technician with the exception of the Local Transportation Fund (LTF), the State Transit Assistance fund (STA), the State of Good Repair (SGR) fund and Service Authority for Freeway Emergencies (SAFE) whose functions are shared between VCTC and the Ventura County Auditor-Controller’s office. The VCTC maintains a General Fund, five special revenue funds (Local Transportation Fund, State Transit Assistance Fund, State of Good Repair Fund, Service Authority for Freeway Emergencies Fund, Santa Xxxxx Xxxxxx Line Fund) and two proprietary funds (VCTC Intercity and Valley Express). The VCTC adopts an annual budget as required by law and utilizes it as a management tool to analyze financial activity for its fiscal year ending June 30th. A copy of the Fiscal Year 2019/2020 budget can be obtained at VCTC’s website xxx.xxxxxxxxx.xxx on the financial page. VCTC’s computerized systems are run on a Local Area Network (LAN). The accounting functions are computerized and currently VCTC is using Sage 50 on a Windows platform. VCTC’s previous auditors were on-site for 3-5 days twice each year (interim and final audit period). The full contract of five years was utilized with the previous auditors. The previous years’ fees for audits were as follows: $42,000 (as two singe audits were required) for 2014/2015, $40,405 for 2015/2016, $41,310 for 2016/2017, $42,215 for 2017/2018 and $43,120 for 2018/2019. One single audit was included in the above amounts unless otherwise stated. Total hours reported to VCTC for the audits were 279 hours for 2014/2015, 175 hours for 2015/2016, 159 hours for 2016/2017, and 475 hours for 2017/2018. Total hours for 2018/2019 are incomplete but at 366 hours through October billing. Additional hours may have been expended by the Pun Group and not reported to VCTC as the not-to-exceed amounts were met. During this contract period, VCTC added special revenue and proprietary funds and GASB statements were implemented at no additional charge from the auditors. Major anticipated changes in the upcoming years to be audited include moving to new office space and implementation of GASB statements as required. No additions of special revenue or proprietary funds are anticipated at this time. VCTC may add additional staff as needed in the next five year period. Prior Reports and Work Papers The Pun Group conducted the V...
