Enhanced Financial Web Reports – We’ve gone RED

We have upgraded our CIS-based Financial Web Reports, and are excited to announce that they have a fresh, new, RED look!

Our users will notice enhancements to the functionality, including:

  • Management Reports/Journal Detail now consolidates UShop spend by Voucher number.
  • Encumbrance Reports only display “open” POs, and UShop POs now “auto-close” 5 days after they are fully invoiced.
  • Improved user interface on several search (lookup) applications, including: Chartfield, PO, and Voucher.
  • Users can easily see which of their favorite Suppliers are available in UShop, and can also request to make a Supplier available in UShop from Vendor/Voucher lookup screens.

NOTE: Each application has a HELP link if you find you have questions.

We appreciate feedback from our users that have helped us design these improvements.

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Q2 FY 2016 Unit Market Value for Endowment Projections

The ending quarter endowment pool unit market value for December 31, 2015, is $211.78 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FBS News. All other factors in the instructions remain the same through the fiscal year. For detailed instructions on how to project endowment income, please click here. The instructions are available there now for fiscal year 2016-2017.

Ask Us a Question If you have any questions or feedback just ask us!

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NIH Salary Cap Increase

The NIH salary cap has been increased by about 1 percent to $185,100 effective January 10, 2016. NIH ties the salary cap to the Federal pay scale for employees in “Executive Level II” positions. The new cap was part of the Consolidated Appropriations Act, 2016 (Public Law 114-113), signed into law on December 18, 2015. Please see the NIH announcement.

Ask UsPlease ASK US if you have any questions.

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New Look and Functionality for Vendor & Voucher Search

We are pleased to announce that the web applications for Vendor & Voucher Search (available in CIS) have a new look as well as enhanced functionality. These changes are part of an overall UIT initiative to update and improve UofU web applications.

Enhanced functionality in both the Voucher and Vendor Search is meant to strengthen the supplier base in UShop, but all University users will be able to use these forms, and find search results as they have in the past.

To read more about how UShop users can use these forms to support a more robust UShop supplier base, see a more detailed post in the P2P/UShop blog.

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Sign up for Electronic W2

ATTENTIONATTENTION: Delivery change for 2015 W-2s and future years. If you do not consent to receive your W-2 electronically by January 14, 2016, then you will only receive a printed W-2 and you will NOT have access to an electronic W-2 (consent is required only once during your employment at the university).

W-2 forms are available to University of Utah faculty and staff electronically. Benefits of opting to receive your W-2 electronically include:

  • Helping the University go green. If you file your tax return electronically, a paper copy of the W-2 is not required.
  • You will receive your W-2 several days earlier than paper copies.
  • Your sensitive personal information will not be sent through the mail.
  • A positive impact on the university’s budget.
  • Your past W-2s are available online back to 1999.
  • You may print the PDF if a printed copy is desired.
  • You only need to consent to receive your W-2 electronically once during your employment at the university.
  • Please take advantage of this opportunity by signing up by January 14, 2016.

To sign up:

  1. Sign on to the CIS and click the ‘Employee’ tab (if it is not your default tab).
  2. Click ‘Payroll, Taxes and Salary.’
  3. Click ‘W-2 Consent Forms’ and you will have the option to select to receive your W-2 electronically.

Ask UsPlease ASK US if you have any questions.

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Q1 FY 2016 Unit Market Value for Endowment Projections

The ending quarter endowment pool unit market value for September 30, 2015, is $211.21 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FBS News. All other factors in the instructions remain the same through the fiscal year. For detailed instructions on how to project endowment income, please click here. The instructions are available there now for fiscal year 2015-2016.

Ask Us a Question If you have any questions or feedback just ask us!

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FY 2016 Work-Study Funding is Available for Eligible Students in Eligible Positions.

Not all student positions are eligible for work-study funding. Please see the Employer Work-Study Handbook for a description of Eligible/Ineligible Positions.

If you desire to hire a work-study student in an eligible position, please post the position through Human Resources to recruit the students that are currently seeking employment.

If you have a student employee in an eligible position who is not funded by work-study, you may send their name and Employee ID to faws@sa.utah.edu for an informal student eligibility review.

For questions, please email faws@sa.utah.edu.

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New Training Available – Unrelated Business Income Tax (UBIT)

When contemplating University activities that are not specifically within our mission, departments need to consider the potential for unrelated business income. This course will provide an overview of unrelated business income by going over the basic concepts and exceptions to unrelated business income and discussing common University unrelated business income. The course will also cover University responsibilities and reporting requirements of unrelated business income.

To register for this course, click here.

 

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Q4 FY 2015 Unit Market Value for Endowment Projections

The ending quarter endowment pool unit market value for June 30, 2015, is $219.32.00 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FBS News. All other factors in the instructions remain the same through the fiscal year. For detailed instructions on how to project endowment income, please click here. The instructions are available there now for fiscal year 2015-2016.

Ask Us a Question If you have any questions or feedback just ask us!

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Work-Study Deadline 09/30/15

Work-Study funded students must be placed in their first fiscal-year job no later than 09/30/15. Departments intending to employ a work-study student for the 15/16 fiscal-year must submit their Job Referral Notice (JRN) requests no later than 09/30/15. Students without a current fiscal-year JRN by 09/30/15 will lose their work-study funding and cannot be hired in the work-study program.

Payroll accounting for work-study employees must be correct by the pay period ending 09/30/15. If the payroll accounting is not correct, the student may lose their work-study funding and the employer will not be able to hire the student as a work-study employee after 09/30/15.

Please review your records for the following:

1) You must have a current JRN. The JRN authorizes the student to work for a specific department for a specified period of time. The JRN also indicates the authorized account number that must be used in order to utilize work-study funding.

2) The chartfield distribution on the e-PAF must include the Org ID and account number that is authorized on the JRN.

3) Please be aware that wages charged to any ORG ID and/or account number other than those authorized on the JRN, are an indication that the student is not set up as a work-study employee. Carefully review your payroll reports. Errors not resolved with the FWS Coordinator during the subsequent pay period may cause the student to lose their work-study funding.

If you have any questions regarding this notice or about a student’s work-study status, please contact the FWS coordinator at faws@sa.utah.edu.

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