Institution Finance Workplan
Week|2 Weeks|Month|Quarter|Semester|6 months|AnnualThe Finance workplan is intended to assist institutions in planning for their work flow.
Ongoing and Daily
Accounting
- Review Daily Maps Interface and Batch Diagnostics Reports for Errors (AC0400CP)
- Proper Use of Occurrence Dates
Accounts Receivable
- Draw down federal financial aid - as needed
Purchasing
- Test Encumbrances before receipt of goods or services
Weekly
Accounts Receivable
- Reconcile cash receipts to MnSCU accounting reports
- Record EDI Receipts on a Daily Basis
- Refund students
Bi-Weekly
Accounting
- Transfer Cash to the State Treasury CLR Appropriation for Auxiliary Payroll
- Reconcile PR Clearing process (MAPS CLR cash = MnSCU CLR cash = 8199 balance)
- Monitor for Negative Cash Balances in State Treasury Appropriations
Consumable Inventory
- Run Interfund Accrual Pay-off
Cost Allocation
- Run Interfund Accrual Pay-off
Human Resources
- Update Leave Balances
Payroll
- Reconcile Payroll using HR8030CP and HR2240CP- looking for over/underpayments and items posting to payroll default cost centers.
- Review HR8011 for exceptions that need resolution (WNP and comp time earned need no action)
- Review HR3080 for lump-sum that may have failed in interface. They will need to be manually entered in SEMA4. (Tuesday of On-week)
Student Payroll
- Run Interfund Accrual Pay-off
Monthly
Accounting
- Balance Due from/Payable to Other Funds (8211/8605) Campus Assistance currently notifies campuses of discrepancy.
- Distribute Monthly Reports including revenues/expenses
- Reconcile MnSCU accounting to MAPS for State Treasury Appropriations
Accounts Receivable
- Run AR0010GR receivable report by term
- Review A/R Balances/Aging
Bank Reconciliation
- Reconcile Bank Statements to MnSCU Cash by Bank Report AC0563CP
Quarterly
Accounting
- Transfers Balanced
- Return Federal Funds for Unclaimed Property
Equipment
- Reconcile Equipment Module to Accounting (review EQ0003 & EQ0006 reports)
Financial Reporting
- Interim Financial Statements
Each Semester
Accounting
- Reconcile Student Association Dues
Accounts Receivable
- Monitor Appeals - Waiver reports
- Monitor use of effective drop date
- Follow MCE guidelines: Letters to debtors and submission to MCE
Twice a year
Accounting
- Review COA for Proper coding: Heb Funds, Program Codes, Object Codes
Security
- Review security for Institution
Annually
Accounting
- August - Return State Funds for Unclaimed property.
- September - Reconcile Financial Aid.
- October - File Unclaimed Property with MN Department of Commerce.
Student Payroll
- April - Review funding by student and make any funding changes or transfers (review PR0116GR, PR1002CP & PR1003CP)
If you have questions or comments please email us (accounting@so.mnscu.edu) or refer to the staff directory link at the top of this page for additional contact information.
