Finance for Staff
Contact
Name:
Enterprise Finance
1101 Market Street
Jefferson Tower, Floors 20 & 29
Philadelphia, PA 19107
Contact Number(s):
- 215-503-9663 (fax)
Accounting, Budgeting & Managing Funds
Operational Notes & Procedures
- Monthly income and expenses are posted to PeopleSoft Financials
- Audit of financial statements each fiscal year
Ensuring Success Tidbits
- Process timely transactions
Resources
- Jefferson Policies and Procedures, accessible via Canvas (left navigation, after logging in)
- #103.16 Special Purpose Fund Accounts
- #102.11 The Jefferson Foundation Gift Acceptance Policies
- #103.27 Endowment Spending Policy
- Review income and expense activity on financial systems
Operational Notes & Procedures
- Sponsored project awards provide direct costs and Facilities & Administrative (F&A) costs
- After all monthly direct costs are posted to PeopleSoft Financials, F&A costs are applied to sponsored projects
- F&A rate and methodology is determined by the sponsored project award
- Federal and other sponsored agreements may require audits of Jefferson processes and transactions
Ensuring Success Tidbits
- Enroll in sponsored projects professional development
- Process timely transactions
- Perform timely review of sponsored projects reports
- Adhere to sponsor reporting requirements
- Participate in Office of Research Administration listserves
Resources
Operational Notes & Procedures
- Enterprise Finance works with departments and divisional financial personnel to prepare capital budgets
- Enterprise Finance works closely with Jefferson Facilities Management Services to record capital spending
Ensuring Success Tidbits
- Perform timely review of capital project reports
Resources
- Jefferson Policies and Procedures, accessible via Canvas (left navigation, after logging in)
- #102.01 Capital Budget Process
- #102.04 Capital Project Costs
- #102.10 Capital Project Approval and Monitoring Process
- #102.11 Capital – Budget Development/Expenditure Process
- #103.08 Capital Budget Process
- #118.05 Procurement of Construction/Capital Budget Items
- Review capital projects activity on financial systems
- Facilities Design and Construction
- Facilities Services Accounting and Systems
Operational Notes & Procedures
Fixed assets are defined as meeting one or more criteria:
- New building construction
- Renovations to buildings and equipment that extend the useful life
- Equipment having a cost of $5,000 or more (per item) with an estimated useful life greater than one year (whether purchased outright or via capital lease)
- Software acquisitions having a cost of $5,000 or more (per item) including the costs to install and implement (both new software and vendor upgrades) with an estimated useful
Safeguarding University assets is critical.
- Moveable equipment is recorded on PeopleSoft Financials
- Physical inventory of moveable equipment performed to verify
- asset's existence, use and need
- location (building and room)
- responsible department
Ensuring Success Tidbits
- Affix asset tags to equipment purchased with Federal funds and provide asset tag number to Enterprise Finance for recording in property records
- Throughout life of asset, forward timely asset location changes, department change, and disposal instructions to [email protected]
- Conduct and certify required physical inventory
- Lead periodic walk-throughs to observe assets
Resources
- Review fixed assets activity on financial systems
- Jefferson research equipment