|
Baseline Financial Functions - November 2001
Based on an extrapolation of survey results presented in the first deliverable, we estimate that there are currently 354.7 FTEs performing financial transactions for the university, as follows:
| Financial Process |
Estimated FTEs |
| Disbursements and receipts |
180.7 |
| Accounting entries, incl. labor distribution |
61.2 |
| Non-exempt payroll |
25.1 |
| Travel reimbursement processing |
58.2 |
| Student tuition processing |
8.2 |
| Capital equipment activities |
21.3 |
| Total Transactions |
354.7 |
The FTEs include 24 position titles in the following job families, from 1,502 actual positions with partial effort:
| Job Family |
FTEs |
Positions |
| Accounts Rep |
171.1 |
309 |
| Administrative Asst |
131.2 |
762 |
| Administrator |
35.9 |
278 |
| Exec Staff Asst |
6.5 |
55 |
| Finance Specialist |
8.7 |
54 |
| Mgr Finance |
1.2 |
34 |
| Purch Agent II |
.1 |
10 |
| Total |
354.7 |
1502 |
Based on the survey results, Cornell endowed and contract colleges spend approximately $10.9 million per year on financial transaction activities, compared to overall Ithaca-based salaries and wages of $574.1 million. Therefore, 1.9% of our overall Ithaca salaries and wages are spent on financial transaction activities.
Financial transactions are currently initiated and processed at the local business unit (department). Typically, a transaction processor reports to an administrative manager, who reports to a department chair or director. The central accounting office provides oversight by reviewing transactions for adherence to policies. Transactions that don't comply with policies are sent back to the unit for correction. For most units, there is no relationship between departmental processors, organizational business officers, or the central accounting office.
|
|
Baseline Financial Functions
|
|
|
|
|
|
|
|
|
|
|
