Monitor and Closeout Contracts (90.3.2)

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Monitor and Closeout Contracts (90.3.2)

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Business Process Overview

Users within agencies will be able to run financial reports for month end and year end reconciliation, reporting, and monitoring needs. This subprocess is used to review a contract’s financial records for the process of monitoring contract financial activity and/or closing a contract within Florida PALM.

Business Process Diagram

Business Process Diagram for 90.3.2 Monitor and Closeout Contract

Business Roles

The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess.

Agency Contract Processor: agency role responsible for entering information on the Contract Information Page.

Business Process Flows Details

The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams.

Process Step ID	Process Step Title	Description of Process
1	Review Contract Financials	The Agency Contract Processor will monitor Contract financial activities using a variety of reports and online screens. The Agency Contract Processor will review Contract transactions to confirm they are allowable and recorded correctly, using the appropriate Chart of Accounts (COA) values based on DFS Reference Guide for State Expenditures, GAAP or other statutory requirements. Corrections to Contract transactions should occur in the original source module (Account Payable (AP) entries should be corrected in the AP module, Accounts Receivable (AR) entries should be corrected in the AR module etc.) The Agency Contract Processor should determine which source module is needed to make the corrections and take the appropriate action. If the original transaction was entered as an AP voucher, then use the appropriate subprocess within 30.3 Enter and Process Vouchers to correct the voucher. If the original transaction was recorded as an AR transaction, then use the appropriate subprocess within 60.2 Deposit and Apply Receipts to correct an AR item deposit or a direct journal deposit. If the original transaction was recorded as an Inter/IntraUnit transaction, then use the appropriate subprocess within 110.1 Inter/IntraUnit Transaction Processing to correct an Inter/IntraUnit transaction. If an entry (e.g., reclassification or original) is recorded as a GL Journal, the entry will follow steps in 10.2.3 Agency Create and Approve Journals subprocess.
2	Review Reports for Financial Close	Determine if the Contract is eligible for financial closeout by reviewing the End Date and reports. If the Contract is eligible for closeout, then review various submodule and data warehouse reports for financial closure. Reviewing reports assists with validating and reconciling transaction data to the Contract details. When reviewing reports, the Agency Contract Processor needs to understand the transaction lifecycle and the statuses to make sure the transaction is complete and accurate before requesting the Contract be closed.
3	Notify Agency Contract Maintainer	Agency Contract Processor will notify the Agency Contract Maintainer or follow the Florida Accountability and Contract Tracking System FACTS closeout process, per Agency policy and procedures, that the contract is ready to be closed. The Agency Contract Maintainer follows the subprocess 90.3.1 Add or Modify Contract to update the Contract Status on the Contract Information Page to Closed and the ChartField Status to Inactive. This systematically triggers inactivation of the ChartField and it is no longer available for use on a transaction.

Process Step ID

Process Step Title

Description of Process

Review Contract Financials

The Agency Contract Processor will monitor Contract financial activities using a variety of reports and online screens.

The Agency Contract Processor will review Contract transactions to confirm they are allowable and recorded correctly, using the appropriate Chart of Accounts (COA) values based on DFS Reference Guide for State Expenditures, GAAP or other statutory requirements.

Corrections to Contract transactions should occur in the original source module (Account Payable (AP) entries should be corrected in the AP module, Accounts Receivable (AR) entries should be corrected in the AR module etc.)

The Agency Contract Processor should determine which source module is needed to make the corrections and take the appropriate action.

If the original transaction was entered as an AP voucher, then use the appropriate subprocess within 30.3 Enter and Process Vouchers to correct the voucher.

If the original transaction was recorded as an AR transaction, then use the appropriate subprocess within 60.2 Deposit and Apply Receipts to correct an AR item deposit or a direct journal deposit.

If the original transaction was recorded as an Inter/IntraUnit transaction, then use the appropriate subprocess within 110.1 Inter/IntraUnit Transaction Processing to correct an Inter/IntraUnit transaction.

If an entry (e.g., reclassification or original) is recorded as a GL Journal, the entry will follow steps in 10.2.3 Agency Create and Approve Journals subprocess.

Review Reports for Financial Close

Determine if the Contract is eligible for financial closeout by reviewing the End Date and reports. If the Contract is eligible for closeout, then review various submodule and data warehouse reports for financial closure. Reviewing reports assists with validating and reconciling transaction data to the Contract details. When reviewing reports, the Agency Contract Processor needs to understand the transaction lifecycle and the statuses to make sure the transaction is complete and accurate before requesting the Contract be closed.

Notify Agency Contract Maintainer

Agency Contract Processor will notify the Agency Contract Maintainer or follow the Florida Accountability and Contract Tracking System FACTS closeout process, per Agency policy and procedures, that the contract is ready to be closed. The Agency Contract Maintainer follows the subprocess 90.3.1 Add or Modify Contract to update the Contract Status on the Contract Information Page to Closed and the ChartField Status to Inactive. This systematically triggers inactivation of the ChartField and it is no longer available for use on a transaction.

Accounting Events

Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General ledger (Actuals).

Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.

The table below provides the most common accounting events applicable to this business process.

Acct Event ID	Accounting Event	Commitment Control Ledger(s) Impact	Source Module Accounting Entry	General Ledger (Actuals) Entry
N/A

Reports

Key Reports are displayed as icons with the Report Number on the Business Process Flow Diagrams. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.

Report Number	Report RICEFW ID	Report Description	Report Source	Report Frequency	Audience
R2	GLR099	Trial Balance Report - A report that lists debit and credit activity by ChartField and date.	PeopleSoft	Monthly	Agency, DFS
R3	KKR008	Schedule of Allotment Balances Report - Report reflecting recorded allotments, encumbrances, expenditures, and associated remaining balances for designated time periods grouped by designated ChartField and ChartField combinations.	PeopleSoft	Monthly	Agency
R4	APR051	Contract Expenditures Report - A report of contract payment information by Vendor Name, contract ID number, Payment Number, Posted Invoice #, Date Posted Invoice posted, Payment Amount, document number unique to document payment, or available fields with the ability to export data into an excel format.	Data Warehouse	Daily	Agency
R5	ARR007	Deposit Report - A report that provides detailed information for deposits.	PeopleSoft	Daily	Agency
R6	POR009	Outstanding Encumbrance Errors Report - A report that lists unresolved encumbrance exceptions.	PeopleSoft	Daily	Agency
R7	KKR018	Agency Commitments Report - A report that provides encumbrances and payables by ChartField combinations.	PeopleSoft	Daily	Agency

Interfaces

The table below provides the Interface IDs for each interface identified on the Business Process Flow Diagrams.

Interface Number	Interface Description	Interface Frequency	Source	Target
N/A

Forms

The table below provides the Form Numbers for any forms identified on the Business Process Flow Diagrams.

Form Number	Form Description	Audience
N/A

Workflows

The table below provides the Workflow Numbers for any workflows identified on the Business Process Flow Diagrams.

Workflow Number	Workflow Description	Audience
N/A

Version History

Date	Revision Description
12/01/2023	Original Version

Attachments

90-3-create-and-maintain-contracts-flow.pdf

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90-3-create-and-maintain-contracts---narrative.pdf

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What's Next

Payroll Management Overview

Table of contents

Business Process Overview
Business Process Diagram
Business Roles
Business Process Flows Details
Accounting Events
Reports
Interfaces
Forms
Workflows
Version History