ACCOUNTING SYSTEM

It is the responsibility of the West Plains Campus to establish and maintain the accounting system for that campus. However, the system used by that campus must remain compatible with the system used on the Springfield Campus. Therefore, the Director of Accounting and Budgeting and the Controller on the Springfield Campus should be consulted before a new system is installed or changes made to the existing system, including the establishment of new accounts.

ACCOUNTS RECEIVABLE

The West Plains Campus is responsible for establishing and maintaining a system of Accounts Receivable. This includes the recording of charges and the collection of those charges. This record must be maintained in such a way to permit balancing with the general ledger on a regular basis.

INVESTMENTS

Collecting and investing the money collected on the West Plains Campus is the responsibility of the West Plains Campus. The technique used should insure the safety of the funds as well as have an acceptable rate of return. The campus should also follow any investment guidelines adopted by the Board of Governors.

ACCOUNTS PAYABLE

The West Plains Campus will be responsible for preparing the checks for payment of the bills of the West Plains Campus paid from local funds. The West Plains Campus will also develop a system to be able to do this on a timely basis while checking for the correctness of the payment. When state appropriations are used as the source of funds for payment, the request for payment should be routed through the Financial Services office in Springfield, which will then prepare the warrant request to be sent to the state for payment of the vendor. When the check is received from the state, the Financial Services office in Springfield will forward it to the vendor.

PAYROLL

1. PAYROLL PREPARATION

   In order for an individual to be paid under the University payroll system, they must first be authorized for work by the filing of a Personnel Action form through the Human Resources department on the Springfield Campus. Student employees are authorized for work through the filing of a web-based Student Clearance form with the Springfield Campus student office.

   The West Plains campus collects a completed W-4 form, which is the official record of the appropriate Federal and State withholding allowances claimed by the employee. These completed W-4 forms are forwarded to the Springfield Campus payroll office for entry in the payroll database. The West Plains campus also collects an I-9 form which is required for an employee to legally work. The I-9 is forwarded to the Springfield campus-Office of Human Resources.

   The Springfield Campus payroll office prepares five separate payrolls each month for all University System employees as follows:

   • State Regular Payroll
   • State Supplemental Payroll
   • Local Regular Payroll
   • Local Supplemental Payroll
   • Student Payroll

   The Springfield Campus payroll office prepares payroll checks or web-based direct deposit documents for each payroll as appropriate. Payroll preparation includes the processing of all deductions required by federal and state law and authorized voluntary deductions as requested by employees. Monthly payroll information is obtained from time cards and time record forms collected in West Plains for their non-exempt employees and forwarded to the Springfield Campus payroll office.

   The Springfield Campus payroll office distributes the payroll checks and direct deposit documents for part-time employees to all offices in the University System. The West Plains Campus is responsible for distributing payroll checks and direct deposit documents to individual employees on payday. An employee's final paycheck is distributed by the West Plains Campus upon receipt of a "Property Clearance Form" indicating all required University checkout procedures have been completed.

   The Springfield Campus payroll office prepares all accounting information generated by each payroll. The West Plains data is transmitted electronically and feeds into the West Plains accounting records after review by West Plains personnel.

   Student employees are subject to FICA tax by Federal law if they are not enrolled as a half-time student (undergraduate 6 hours, and graduate 5 hours and 3 hours for both groups in summer). Hours worked between semesters are exempt from Social Security taxes if the student was exempt in the previous semester and is pre-enrolled for the upcoming semester (not summer). West Plains Campus personnel monitor the number of credit hours maintained by West Plains student employees for compliance with this requirement. The information is forwarded to the Springfield Campus payroll office each pay period so that the correct FICA taxes may be withheld.

2. REQUEST FOR STATE REIMBURSEMENT

   The annual State appropriation is expended on the salaries and certain fringe benefits of employees listed on the State Regular and State Supplemental payrolls. Payroll information on employees paid on these payrolls is retained by the Springfield Campus payroll office for inspection by the State Office of Administration when required. Each month a request for 1/12^th of the annual State appropriation is made through the State’s online system by the Springfield Campus payroll office. The money is electronically transferred to the bank account of the Springfield Campus and allocated to the West Plains through various payroll general journal entries.

3. GOVERNMENT FILINGS

   Numerous monthly, quarterly and annual filings of payroll and tax information are prepared by the Springfield Campus payroll office for all University System employees. These agency filings include the Internal Revenue Service, the Missouri Department of Revenue, the Missouri Division of Employment Security, MOSERS, PSRS, and the U.S. Census Bureau, along with others.

   Annual W-2's are prepared and distributed for all University System employees by the Springfield Campus payroll office.

ZIP CARD SERVICES

1. ID CREATION

   The Springfield Campus will create identification cards for the Springfield Campus' students, faculty, and staff. The West Plains Campus will create identification cards for the West Plains Campus' students, faculty, and staff. The Springfield Campus will create cards for the West Plains or Mountain Grove students, faculty, and staff on-site upon request (since these cards are required to obtain certain services on the Springfield Campus).

2. ZIP CARD

   If debit card, time management, and/or calling card services are desired on the West Plains Campus, the West Plains Campus must procure the appropriate ZipCard equipment and connectivity to the Springfield-based system. If pursued, the Springfield Campus will provide technical specifications and consultation services to plan and implement the system on the West Plains Campus.

BUDGET

1. Personnel action forms and position authorizations will continue to be routed to the Director of Accounting and Budgeting to ensure accurate record keeping for budgetary planning.

2. The Chief Financial Officer will assist and compile the Internal Operating Budget for West Plains, based on data received from the West Plains Campus, during the annual budgetary process.

3. The Chief Financial Officer will prepare one combined State Appropriations Operating Request, which includes all three campuses. The decision items to be included for the West Plains Campus will be those agreed upon by the President. All data and statistics needed for the request will be provided by the West Plains Campus.

4. Items specific to the West Plains Campus are to be budgeted for within the West Plains Internal Operating Budget (i.e., scholarships, maintenance and repairs, benefits).

MONTHLY AND YEAR-END REPORTING

Monthly and Year-end Reporting - Shared Responsibility. The West Plains Campus should complete their financial reporting on a timely basis, then transmit the information to the Springfield Campus on a nightly basis so the accounting records for West Plains are updated on the Springfield accounting records. The West Plains campus reconciles the accounts on each system monthly. The Springfield campus uses this information to produce monthly financial reports and a combined year-end report. The following is additional information needed from West Plains for year-end reporting:

Year-end journal entries

Detailed list of transactions that occurred in the net assets of all funds

MISSOURI STATE UNIVERSITY FOUNDATIONON

1. PURCHASING

   The West Plains Campus is responsible for compliance with Foundation purchasing policies. Currently, West Plains personnel take some bids, quotes, etc., and issue some purchase orders.

   UBUY is available to the West Plains Campus. When it is used, the West Plains Campus enters requisitions and then electronically forwards these to the Springfield Campus. Financial Services verifies the available funding and then forwards the requisitions to the required Foundation officer for approval. If the requisition is approved, the request is then forwarded to the Springfield Campus purchasing office for disposition.

2. DISBURSEMENTS

   The Springfield Campus handles all disbursements of Foundation funds. All funds restricted by donors for the use of the West Plains Campus are on deposit with all other Foundation funds.

   Requests for payments using Foundation monies are accompanied by a "Request for Withdrawal of Funds from Missouri State University Foundation" form. This form must have the appropriate signatures of West Plains Campus personnel and supporting documentation. The request is forwarded to the required Foundation officer for approval. If approved, the request is sent to Financial Services for payment after funding is verified.

   Purchases made under UBUY are forwarded by the Springfield Campus purchasing office to Financial Services for payment. The Springfield Campus purchasing personnel are responsible for necessary documentation to support the payment request.

3. GENERAL LEDGER AND FINANCIAL STATEMENTS

   Financial Services maintains all financial records for the Foundation. The general ledger is closed monthly and financial statements are prepared. A separate general ledger is not maintained for the accounts of West Plains and separate financial statements are not prepared.

   An annual financial report for the Foundation is prepared by Financial Services and the records are audited by an independent CPA firm.

4. SUMMARY OF INCOME AND EXPENDITURES

   This report is prepared monthly and it provides a transaction summary of all financial activity within a given Foundation account over a specific period of time. The report also provides the balance available for spending at a given point in time.

   At the end of each month, Financial Services forwards to West Plains the summaries of all accounts restricted by donors for the use of the West Plains Campus. Transaction activity and balances available for spending are also electronically available by using the "Budget Inquiry and Transfer Menu" of the UBUY system.

5. INVESTMENTS

   All investments of Foundation funds are handled by Financial Services in accordance with the policies and procedures of the governing board. Endowments restricted for the use of the West Plains Campus are part of the overall invested funds of the Foundation. Financial Services maintains the historical dollar value (basis) and current market value of each endowment.

   The Foundation's endowment is managed as a pooled investment fund. The various subsidiary accounts purchase shares in the investment pool when additions are received. The investment pool is operated on a unit market basis. The governing board has adopted a spending plan for the earnings of endowments. Financial Services calculates this amount monthly and makes appropriate transfers to make funds available for spending.

6. MISCELLANEOUS

   Note Payments - Financial Services makes a monthly wire transfer of funds to a lender as part of a real estate purchase by the West Plains Campus.

   Donated Shares of Stock - Financial Services handles the sale of stock donations through appropriate market representatives.

   Financial Information - Financial Services serves as a liaison for requests for financial information about the Foundation from the University's internal auditors, the University's independent external auditors, and State auditors.