Corporate Finance (Research)
Information Session
21 October 2009
Agenda
1.
2.
3.
4.
5.
6.
7.
8.
Introduction – Danny Sun
Opening – Jill Trewhella
HERDC 2010 & New Accounts – Tabitha Daines
RIMS Data & PeopleSoft Data - Kate Taylor
ARC & NHMRC - Carl Nygryn
DVCR Funding Update - Sandra Arnaout
Research Office Update - Warwick Dawson
Q&A
Deputy Vice-Chancellor
Professor Jill Trewhella
Millions
ARC & NHMRC Number & Value Trend 2005 - 2009
80
900
70
800
700
60
600
50
500
40
400
30
300
20
200
10
100
0
0
2005
Grant Value - ARC
2006
Grant Value - NHMRC
2007
2008
Number of Grant - ARC
2009 Est.
Number of Grant - NHMRC
Millions
G08 HERDC 2008 COMPARISON
400
350
300
250
200
150
100
50
0
Melbourne
Sydney
ANU
UQ
Cat 1
Cat 2
UNSW
Cat 3
Cat 4
Monash
UWA
Adelaide
Millions
HERDC 07 & 08 - MELBOURNE VS SYDNEY
180
160
140
120
100
Melbourne
80
Sydney
60
40
20
0
2007
2008
Cat 1
2007
2008
Cat 2
2007
2008
Cat 3
2007
2008
Cat 4
HERDC 2010
and
New Account Initiatives
HERDC 2010
•
•
•
•
•
HERDC return Preparing for the year end
Checklist
2010 collection process
Investment Income
Changes to guidelines
Preparing for Year End
• CFR working with BBI to bring you access to the
Hyperion HERDC return report.
– You can run this to manage your accounts on
a monthly or quarterly basis
– Gives you the data instantly that you need to
correct miss coding and minimise your work in
the new year
10
CFR Initiative
*****The HERDC checklist *****
• A sound base for a clean HERDC report
• Simple steps to ensuring the ledger is correct
prior to the close
• Results - less additions, chasing of paperwork
and a more accurate, automated report
Activity
Report
If Action Required
Check Research Income is it in the right place for reporting?
Verify income classed as "Research income" - see YELLOW area
HERDC report
Review all rows with expected income and account for differences. Has the income been received? If not, is this correct?
HERDC report
Check ARC/NHMRC expected shared grant income not received (Usyd non-lead) (A6,N5 a/cs)
HERDC report
Invoice Lead Institution
Check ARC Industry Partners income not received (R a/cs)
HERDC report
Invoice partner
Check that there is no non-ARC income in ARC accounts
Identify corrections in comments column of
HERDC report
Send to CFR for correction Journal
Checked that no non-NHMRC income in NHMRC accounts
Identify corrections in comments column of
HERDC report
Send to CFR for correction Journal
Recycaling of accounts - Getting our categories right: Highlight cases when research income has been deposited in incorrect accounts, but is still research income (or is not research Identify corrections in comments column of
income) i.e. funds are not from the named funding body
HERDC report
Check deductions to Research Income
Investigate debits to income, are they credit notes or journals? Run SUGLQ104 for all research class codes, and sort by source, look for research income with debits.
Send to CFR for advice
Identify corrections in comments column of
HERDC report
If an MIA does not exist, the transaction
should be adjusted
Process Journal to correct
Process Journal to correct
income received in 2008 in respect of the year 2009 and was not counted in 2008
SUGL104 and Contract/paperwork
Contact CFR
provision of professional, technical, administrative or clerical support and/or assistance to staff directly engaged in research
SUGL104 and Contract/paperwork
Contact CFR
management of staff who are either directly engaged in research or are providing professional, technical or clerical support or assistance to those staff
SUGL104 and Contract/paperwork
Contact CFR
funds provided for the purpose of clinical trials provided the purpose of the trial meets the definition of research (see section 1.3.9) - NOTE: DECLARATION REQUIRED
SUGL104 and Contract/paperwork
Complete Clinical Trials Declaration
stipends and scholarships for higher degree research students, unless explicitly excluded in section 7.3 of part A
SUGL104 and Contract/paperwork
Contact CFR
travel grants where funds are provided specifically for the purpose of travel and used to enable access to a programme of research
SUGL104 and Contract/paperwork
Contact CFR
research infrastructure grants unless explicitly excluded in section 7.3 (such as ARC Networks, LIEF, NCRIS)
SUGL104 and Contract/paperwork
Contact CFR
income from overseas HEPs provided specifically for research purposes
SUGL104 and Contract/paperwork
Contact CFR
SUGL104 and Contract/paperwork
Contact CFR
Check 6712/6713 transactions are classed correctly. For 6713 transactions, does a multi- institutional agreement exist with an Australian HEP?
Can I find more Research Income in 11111 and 00000 accounts?
Review HERDC guidelines for all research activities that can be included that are not obvious and identify relevant class codes for ledger checks.
research and experimental development into applications software, new programming languages and new operating systems (such R&D would normally meet the definition of
research)
Look at possible income areas in HERDC report to identify income that may be counted:
Investigate non-research classes used in research projects
HERDC report
Investigate any research classes used in non-research projects.
HERDC report
Check externally funded Chair positions for a research component
HERDC report
Provide evidence for all donations in D1 projects where there is no expected income.
HERDC report
Check 2400 - Is it in part or all for research?
HERDC report
Check non D1 accounts, particularly when 2401 used
HERDC report
Check C* - look at the intent, not the form - can be included if meets research definition
HERDC report
Check non B3 Bequest accounts.
HERDC report
Check G projects for projects with a research component
HERDC report
12
Things to look for
• Have shared grants been invoiced for (A6 &
N5)? If not this needs to be done as soon as
possible using class 2119
• Non research Donation/Bequest income in
research Donation/Bequest project code and
vice versa (D1, B3)
Things to look for (Cont’)
• Non research class in research account and
vice versa
• Keep copies of all invoices to do with research
grants as we are often asked to provide them
to the auditor
The Hyperion report and
the Checklist will
Minimise your workload in 2010
2010 Collection Process
• Run the final 2009 income report in Hyperion
• Drill down by RC/Area using the Hierarchy
function
• Timetable & Expectations from 2009 into 2010
• Checklist to work through and for sign off in the
actual return due 2010
Bequests, Donations and CPT’s
• CFR will take care of ALL investment income
(interest earned on philanthropic accounts)
• Please only check your NEW philanthropic
income received in 2009
• Documentation will be required for any
unexpected philanthropic income
Changes to the Guidelines
• 2010 HERDC specifications are expected to
have some changes that may affect your areas
income
• CFR will keep you up to date as and when we
receive INFO
New Account Initiatives
•
•
•
•
•
•
Non RIMS New account requests
NEW Project codes
Process for donations and bequests
Invoicing
Project closures
Research Finance Reporting Update
New Account Initiatives (Cont’)
•
Working on process improvements to assist
finance staff with management of projects
though their lifecycle
– Non RIMS New account requests
Working with ICT and Advancement Services
to standardise process
– Developing clear guidelines as to what is
required as substantiation etc
New Account Initiatives (cont’)
• NEW Project code range created to ensure
maximum reportable income capture
• Codes starting to be utilised now in some areas
• Full implementation by end of year
New Account Initiatives (cont’)
• New project codes for Mixed Funding:
RM123 – Research component
Paired with
GM123 – General (non-research)
• Easily recognisable as part of a pair to improve
reporting, acquittals etc
Split Philanthropic funds
D2XXX
• In response to HERDC, we identified the need to
split Philanthropic funds
• NOW we can process your claims for split funding
donations
• Ensures the accurate split at the inception of the
code
Opening new D1/D2/B3 accounts
• Complete the PeopleSoft ChartField form
(under review)
• Documentation that substantiates the funds are
solely or in part for research
• Documentation MUST be from the
donor/benefactor
• Email: [email protected]
Invoicing for Research Funding
• Working with Revenue Services
• CFR to review data prior to actual invoice
creation in PeopleSoft
• Safety net for miss allocations
• Improves faculties reporting
• Time saving for HERDC
– Both Faculties & CFR
Invoicing for Research Funding
CFR reviews
Data Integrity
People Soft
Invoice Data
Improved
Reporting
Invoice
Generated
Project Closures
• New process - Clear, concise instruction
• Two simultaneous projects:
RO – RIMS Record closures
CFR – PeopleSoft Account clearing
and closure
• New report to assist Hyperion 110/112 –
Testing commenced
Project Closures
• Two simultaneous projects:
RO – RIMS Record closures
CFR – PeopleSoft Account clearing
and closure
• New report to assist Hyperion 110/112 –
Testing commenced
Research Finance Reporting Update
• NEW HERDC reports, including pivots
combining RIMS and PeopleSoft data for the
first time
• RIMS Financial data report
Testing commenced
CFR are here to help
• Assistance with questions regarding your
returned data
• Help on correct re-coding
• General advice as you work through the
HERDC report and checklist
Visits to your area
Hands on assistance and guidance
For Appointment
Email CFR
[email protected]
• Area groups
• Individual assistance
RIMS data & PeopleSoft data
• Differences explained (dates/expected income)
– PeopleSoft and RIMS data will not be the
same – This is not an error
– RIMS financial and dates data is indicative
– PeopleSoft data is adjusted to the actual
award and date as reported in acquittals
ARC/NHMRC
•
•
•
•
•
•
Managing expenditure in ARC & NHMRC
accounts
Reporting excess carry forwards
Salary supplementation for fellows & ARC
expected balance
Process for relinquished or transferred grants
ARC relocation claims
NHMRC equipment grants
Managing expenditure
• To minimise excess carry forwards
• Carry forwards ARC > 75%, NHMRC >25%
• Steps to ensure carry-forward amounts are reduced
– Paying invoices
– Review 11111 and 00000
• Accounts in deficit
– Meal & entertainment + motor vehicle costs (not allowed)
– Other unexpected costs
Reporting excess carry forwards
• Where carry forward cannot be reduced
– Explanation in line with ARC reason code and
progress report
– Excess C/F report – end of October
– Updated contact list
Fellows Salary Supp &
ARC/NHMRC expected balance
• Bridging the gap between granting body funds &
fellows’ salaries
• Balance expected = Matching Duration
• Deficit balance to be covered by the Faculty
• DVC(R) salary supp to be allocated at the end of
February & October
• Fellow salary > Granting body funds + DVC(R)
sal supp  excess to be covered by the Faculty
Process for relinquished & transferred
• Process is the same in both cases
• Grants with a fellowship need to be checked by
Corporate Finance before submission to the
ARC
• All other grants to the Research Office
• Calculating the transfer/recovery amount
Visualising the time series
1/1/08
31/12/07
1/1/07
1/7/07
15/11/08
31/12/08
30/6/08
1/7/08
30/6/09
Transfer
date
Legend
Calendar year
Project anniversary year
Transfer date
Unused portion of
funding to be
returned
ARC Transfer Form
Transfer Calculation Proforma
Relinquishing Institution/Organisation:
Amount
Previous Year Carry Forward
(CF)
Current Year Allocation
(A)
Current Year Expenditure to Date of Transfer
(E)
Transfer Amount
(Double click on table to convert to Excel spreadsheet)
T = (CF + A - E)
ARC relocation claims
• Claim must be made within 12 months of
relocation
• Apply through RO
• Claims & supporting documentation to CFR
• Claims to be made through Spendvision
• Conversion rate and date must be provided –
Oanda.com (preferred converter)
• Eligible costs only – refer to ARC funding
agreement
NHMRC Acquittals
• Equipment grant
– Due to be acquitted by November 2009
– Faculty Finance Officers will be contacted by CFR for
the acquittal statements
• Other grants
– Process will start in January 2010
DVC-R Funding
• New Schemes
• Account Management Changes
• Refresher
New Schemes: Equity Fellowships
•Laffan Fellowship (Disability)
•Brown Fellowship (Career Resumption)
•Thomson Fellowship (Academic Women)
• up to $60K ($30K per semester)
• $25K in teaching relief/technical support
• $5K in research support
These are flexible awards and teaching relief periods
may not be consecutive
Account Management Changes
•LIEF Accounts : A27 Lead, A28 Non-Lead,
R5XXX partner account to collect internal
contributions for paying invoices
•Federation Fellows – All continuing fellows will
have individual UXXXX accounts to replace 10041
•A movement towards individual accounts for all
one-off DVCR funding to help facilitate future
implementation of UEM & RIMS
USYD Post Doctoral Fellowship
Duration
DVC-R
3 years
Initial Support grant Notify HR & CFR
$25K
when fellow begins
appointment of U
Cost of return
account
economy airfare (if
applicable)
Contribute the
balance of Actual
Contribute 80% of
Salary
A8 Salary
Funding begins
when employment
commences
Faculty
USYD International Visiting Fellow
Duration
CFR
Faculty
2 – 12 Weeks
Transfer living
allowance &
airfare to U
account
Submit payment
request for living
allowance & airfare
to AP(Class 5702
& 5711)
Living Allowance
$1,500 p.w.
Economy airfare
Funding
up to $2,500
transferred on
(receipt necessary)
arrival of fellow
Maximum
Allocation $20k
Forward airfare
receipt to CFR for
reimbursement
Cover deficit
balance if
overspent
Director of Research Office
Warwick Dawson
RIMS-PT Update
• Over 5000 active records & 300 trained users
• Pending Close project
• Faculty Finance feedback session 30/6
– 90% (14/16) felt RIMS useful/very useful
– Easy to use, depth of info in one place
– Would like historical data, more specific functions, more
timely updates
– Faculty finance user group
• Ongoing process improvement, data quality
New block grants
• Sustainable Research Excellence (SRE)
– $510m over 4 years to support indirect costs of ACGR
activities; builds on RIBG
– Sustainable and strategic management of resources to
meet costs
– Transparent costing framework TBD in 2010
– $65m in 2010 plus $20m for implementation
• Joint Research Engagement (JRE)
– Replaces IGS in 2010
– Same formula except Cat 1 income removed
Account opening and ethics
• From 1/1/08 account opening not tied to
clearances being in place
• No research requiring clearance can
commence before approved
• RIMS will remove manual follow up
New ARC schemes
• Laureate Fellowships (replaced Fed Fells)
– USyd provides Level E salary (split DVCR & Fac/Scl)
– ARC provides 128K salary top up, up to 300K pa
support plus up to 2x5 yr postdocs and 2x3 yr stipends
• Future Fellowships
– ARC provides 100% salary and oncosts for 4 yrs and
up to 50K pa infra support (strict conditions)
• Super Science postdocs (one off)
– ARC provides 100% salary and oncosts for 3 years
– USyd provides 20K pa research support
Last but not Least
Contact Us
• Email:
[email protected]
• Website:
http://www.finance.usyd.edu.au/about
/research.shtml
Q&A
Thanks