NewsLink Articles
Earnings Operations: Grant Compliance and MOU Agreements
Beginning with FY25, Memorandum of Understanding (MOU) agreements which lock internal fees for a set period must be adjusted for any annual changes in rates over the life of the MOU. To be compliant with federal Uniform Guidance regulations for specialized service facilities (2 CFR 200.468) which applies to all internal service providers, federal grants must be charged the lowest rate based on the FP&A approved internal rate that is published and in effect for that fiscal year.
Earnings operations billing federal grants that have existing MOU agreements in place can honor them through the end of next fiscal year, ending June 30, 2025. MOU and Statement of Work (SOW) arrangements are still acceptable for industry sponsored research. The Grants Shared Service Center will still be executing MOUs with FDC to cover construction projects.
New Earnings Operations Training Course
The Earnings Operations course is an introductory module into Earnings Operations for fiscal staff, managers, and Senior Fiscal Officers (SFOs). The module includes information on defining an Earnings Operation, the roles and responsibilities, establishing a rate and cost recovery, the monitoring requirements, and closing an Earnings Operation. Completion requires passing the assessment with an 85% or higher. This course is required for those that have fiscal responsibilities for earnings units.
Recent and Upcoming Reporting Enhancements as of May 6
Below are details about recent and upcoming reporting changes as of May 6.
"HR for Finance - Job Requisition Status" Enhancements:
New prompts will be added to the "HR for Finance - Job Requisition Status" report, effective the evening of May 6. The new prompts will allow users to run the report based on a date range for job requisition fill dates or job requisition close dates. If you populate both the fill date and close date range prompts, the report will return results that are within either of those date ranges.
"Business Processes Awaiting Action - Supplier Invoice" Enhancements:
The "Business Processes Awaiting Action - Supplier Invoice Detail" report has been enhanced to now include a column on the output of the report for "All Match Exception Reasons." This same column has also been added to the drill detail on the "Business Processes Awaiting Action - Supplier Invoice Summary" report.
"Find Journal Lines - OSU - Posted Journals by Amount Type" Enhancement:
The "Find Journal Lines - OSU - Posted Journals by Amount Type" report has been enhanced to now include a column on the output of the report for the "Miscellaneous Payee" and "Miscellaneous Payee ID" when applicable.
"Asset Management - Net Book Value" Enhancement:
This report will be enhanced Monday May 6 so that assets that have been disposed of in the current fiscal year with a transaction effective date in a prior fiscal year will still be included in the report output. To accomplish this, Asset Disposal Accounting Date has been added to the report filter, this will require an update to any saved filters to start picking up these assets in your results. There have been three additional columns added, Asset Disposal Accounting Date, Asset Cost Accounting Date, and Asset Cost Transaction Effective Date.
New Suppliers in Buckeye Buy as of May 6
The new suppliers listed below are available in Buckeye Buy for UNIV user groups.
New Suppliers to Marketplace Quotes (see supplier website section of Buckeye Buy):
- Ohio Machinery Co. - equipment rental
- Shellee Fisher Photography & Design LLC
Website Design and Development Suppliers in Marketplace Quotes:
- Bonfire Red
- Fahlgren Mortine
- The Creative Spot
New Hosted Catalogs:
- Magnetic Springs - office water service in either 5 gallon bottles or filtration unit
- OSU Sports Medicine Surgical Skills Lab - facility rental
Fiscal Year-end Support: Travel Working Lab
The Travel Office is offering a working lab to assist with year-end responsibilities to ensure Expense Reports are completed and Spend Authorizations are cancelled and/or closed by the end of the Fiscal Year (June 28, 2024). Check out the full Business and Finance Travel post for more details and a link for joining the session.
Contact the Travel Office with questions at travel@osu.edu or 614-292-9290.
Fiscal Year-end Support: PCard Working Lab
The PCard Office is offering a working lab to assist with year-end responsibilities to ensure PCard transactions are processed with an approved Expense Report by the end of the Fiscal Year (June 28, 2024). Check out the full Business and Finance PCard post for more details and a link for joining the session.
Contact the PCard Office with questions at pcard@osu.edu or 614-292-9290.
New Suppliers in Buckeye Buy as of April 22
New Suppliers to Marketplace Quotes (see supplier website section of Buckeye Buy):
- Ohio Machinery Co. - Equipment rental
- Shellee Fisher Photography & Design LLC
- Bonfire Red
- Fahlgren Mortine
- The Creative Spot
Job Posting Process Changes Integrated into Workday
There are several ways to leverage Workday as part of the hiring process when you are building your team. Recent updates to the campus job posting process removed duplications, increased transparency and shortened the time for posting positions. Review the changes, which include attaching a new Campus Position Hiring Request Form in Workday and integrating financial review into the Workday process. Additional support resources and recruitment process documents are available on the HR website. Read more in Human Resources News.
FY24 Year-end Business Document Clean Up
Please refer to the downloadable Unit Year-end Checklist for important year end timeline information and tasks that need to be performed. Please make every effort to close out as many old items as possible to help avoid system issues for the year-end roll forward process. As a reminder, purchase orders can close only when the status is issued and there are no:
- in-progress or draft receipts.
- in-progress or draft "Return to Supplier" documents.
- related supplier invoices with draft, incomplete, or in-progress status.
- related ASNs in draft or in-progress.
You can view the status of these items on the Business Document Lines of the purchase order. The focus should be on documents tied to old POs with remaining balances that should be closed and not rolled forward. These can be identified using the "Find Purchase Order Details - OSU" report and checking the "Purchase Orders with Remaining Obligations/Encumbrances Only" box. Please work with the appropriate parties to take action on outstanding items by Friday, May 31, 2024 and send lists of POs that are ready to be closed to your Service Center Representative to close. Please also copy the Controller’s Office (ctl-fdmrequests@osu.edu) for awareness.
Cost Center Managers and Costing Allocations
Effective Friday, April 19, as part of the Campus Position Control Project, Cost Center Managers will now receive costing allocations through their inboxes for New Position Management Positions and all Job Management Hires (who are not paid from Period Activity Pay). This is a change, as historically costing would route to managers to initiate.
Additionally, Cost Center Managers can initiate costing allocations as a standalone process for their own assigned cost centers with no approval required. If a Cost Center Manager initiates cost allocations for cost centers that are not their own, it will route to the appropriate Cost Center Manager to approve.
This new routing should provide enhanced efficiency for both managers and Cost Center Managers.