Once MMCGME Has Sent out the Monthly Reports, the Information from the Invoice (Program

University of Minnesota Medical School Handbook For Medical School Accountants SOP Supplemental – ALRT Process Last Date Reviewed: 10/9/15

ALRT PROCESS

Once MMCGME has sent out the Monthly reports, the information from the Invoice (Program Report) is manually entered into a tracking spreadsheet titled “Dept Name FY xxxx - Billings and Payments”.

- Monthly totals for each Affiliate are entered on their respective tab in the Excel file. There is a tab for each affiliate site

- Monthly totals are then added to the cover page for each Affiliate corresponding to their respective programs. Example LMP (ie: All Abbott totals are inputted under each of the 6 LMP Programs)

. -Example of both the Affiliate tracking and LMP tracking are at the end of this document

Using the Affiliate report completed above, we can now reconcile the affiliate chart strings in ART (See Non-sponsored Reporting for more information) - Run ART with the complete chart string (Fund, Dept ID, Program, CF1)

- Generally, billing invoices are the only things coming through on affiliate chart strings and they come through the following month. (example – October invoice will come through in November) Log the Journal ID # on the appropriate affiliate tab and month along with Mod ID # as Inv# and transaction date.

- Verify that the invoice amount matches what you have logged.

- On the Other commitments page, record any uncollected receivables under account value 450154. After saving this, run the Non-Sponsored (cash balance) report. The total Projected Ending Revenue/Expenses should match what we expect to receive.

- At the same time as running the Affiliate report, ensure that all revenue received matches UM Reports ending balance. http://www.umreports.umn.edu/ (Account Budget Status for Current Non-Sponsored Funds Report) - Reconciliation is complete when “Non Sponsored Cash Balance” and “Transaction Reconciliation” ART reports are complete and printed. (The balances on the “Cash Balance” report should match the Affiliate breakdown report noted above).

If an affiliated hospital disagrees with a bill, they are supposed to pay what is invoiced and reconcile the difference in the next month’s billing. If the amount received does not match the RMS reports, contact the Financial Analyst in the Dean’s Office so they can determine whether it is a billing error in RMS or a billing error in EFS. MMCGME will correct the former and the Dean’s office will correct the latter.

To track the resident stipends THE ALRT CENTER procedure is below (not required, but suggested):

1) Create/Update payroll cards for each resident. Each resident should be a tab within the same worksheet. * Be sure to include the payroll through June 30th (next fiscal year), since Residency operates on a July 1-June 30 schedule.

2) Payroll card information will be updated by students once the abstracts are printed each pay period.

3) Compare ART to the payroll cards to make sure all of the updated information is in ART, and research any discrepancies.

4) Note any discrepancies and reconcile. Log any retro salary adjustments that are done. These reports are printed/saved and filed. University of Minnesota Medical School Handbook For Medical School Accountants SOP Supplemental – ALRT Process Last Date Reviewed: 10/9/15

In addition to stipends, departments have other costs associated with medical residents such as several types of insurance. Residents/Fellows sign up for their health insurance, Long Term & Short Term Disability and Life insurance through the Student Health Benefits Office at the University. Once a quarter, Office of Student Health Benefits – Program Specialist from that office will send the GME Coordinator and the accountant a spreadsheet to verify data to ensure that the charges are accurate. Listed below is how the accountant or coordinator can verify this data: a. There is a spreadsheet on the shared drive that is created on a yearly basis that lists the residents/fellows name, type of insurance and the pay periods for that quarter with the charges. The accountant verifies that the total charge on this sheet matches the total charges on Program Specialist in the OSHB spreadsheet. b. If discrepancies exist, then the accountant will go through each resident’s charges to find out what might be wrong. (Note: it could be that the resident/fellow changed insurance types, terminated, etc., thus charges could have increased or decrease) c. If no discrepancies exist, then the accountant emails Program Specialist in the OSHB stating that you agree with the charges.

A couple of things to watch for: If a resident/fellow is terminating before the fiscal year end, we would need to notify the Program Specialist in the OSHB. Most of the time, the GME coordinator has notified the OSHB so that the charges come through correctly. Also, prepare reports in ART for the Master Other Fringe chart string using the “Non Sponsored Cash Balance” and “Transaction Reconciliation” reports. Encumbrances should include the amounts from the quarterly statements that we expect.

Run a summary report for the Finance Director and the GME Manager that includes all affiliate sites, master salary and master other fringe accounts. These reports should be printed monthly for the Finance Director and sent electronically each quarter for the GME Manager.

Once all revenue has been collected from the affiliates, the reconciliation has been completed from the RMS office and all expected expenses have cleared the master accounts, the revenue from the affiliate accounts can be transferred to the master accounts. Any overages will need to be funded from the department. University of Minnesota Medical School Handbook For Medical School Accountants SOP Supplemental – ALRT Process Last Date Reviewed: 10/9/15