***DRAFT UNDER DEVELOPMENT - working on confirming understanding and validating with Financial Analyst and Cost Center managers responsible
In Workday, Parking Ramp and Student Union, both REV related funds each have their own Workday Fund.
For Reference
Parking GLs in ISRS (program codes are now in Workday FD0079 Parking Facilities - (REV Operating))
- 099120-DB Parking Ramp Operations (for ISRS cc 299120)
- 099125 DB Parking Ramp R&R (for ISRS cc299125)
- 099135 Ramp Deferred Maintenance (for ISRS cc 299135)
- 099100 Parking Ramp Mpls Debt Service (for ISRS cc 299100)
In Workday, all above are associated with the Campus Operations cost center.
Student Center GLs (program codes are now in Workday FD0081 Student Union - (REV Operating))
- 099140-Student Ctr Operations (for ISRS CC 299140)
- 099145-Student Ctr R&R (for ISRS cc 299145)
- 099150-SC Deferred Maintenance (for ISRS cc 99150)
In Workday, all above are associated with the Student Success cost center (as of 12/18, some balances are still being moved due to initial incorrect FDM mapping).
Viewing cash and AR balances in Workday
***Not yet available****: As of 12/18, the NextGen team is still working on loading/ensuring accuracy of beginning cash balances
Once beginning balances are confirmed, Workday report RPT00415-Trial Balance by Fund may be run for the desired fund worktag (FD0079 Parking or FD0081 Student Center), and the resulting cash balance and Accounts Receivable will show cash for all program codes within.
To estimate funds available, it would be necessary to subtract encumbered expense.
We also expect that one could run the Trial Balance by program code if desired and see the program's cash balance, however we will need to validate that once beginning cash has been confirmed.
Estimated Fund Balance, during Workday stabilization
The transition to Workday has affected how we identify the cash balance. This will get simplified as the Workday project stabilizes.
FOR NOW, since beginning cash balances have not been loaded to Workday and since Fy25 cash receipts are still processed in ISRS before being fed to Workday, estimated balances are calculated as:
Cash balances - from ISRS General Ledgers
LESS Actual expense YTD (found in Workday; see Current Year Activity in Workday below for instructions)
EQUALS Estimated Cash balance
PLUS Accounts Receivable balances - from ISRS General Ledgers
LESS Commitments and Obligations YTD (found in Workday; see Current Year Activity in Workday below for instructions)
EQUALS Estimated Fund Balance
Rev Budget and Carryforward from prior years
Financial Management Cost Center Manager should work together to ensure a budget is loaded so budget controls (once turned on in Workday) do not stop expense transactions from flowing.
Salary budget and related fringe at 32% of salary should be loaded for any employees paid by the rev program codes.
Salary + Fringe + NonPersonnel budget should not exceed cash balance in the OPERATIONS related program. These funds have also have cash set aside for future repairs in programs labeled as deferred maintenance and R&R.
No carryforward transactions are required since these are isolated within their own fund.
Current year activity in Workday
Using RPT00290 Budget vs Actuals by Program, set report filters as shown below, pulling all cost centers for Metro State, and using the bottom Worktags field to enter the desired FUND number
- FD0079 Parking Facilities - (REV - Operating)
- FD0081 Student Union (REV - Operating)
EXAMPLE - Student Union