The most recent accounting month is now closed. Your Management Reports are complete and ready for your review. For most departments/units, review and approval should follow the steps outlined in this memo. Some departments/units have alternate procedures in place to accomplish review and approval. Check with your unit’s accountant and/or the liaison listed at the bottom of your Management Report if you have questions about review and approval.
To proceed, please check both your PROJECTS and ACTIVITIES.
TO MAKE CHANGES, correct errors, etc.: Contact your departmental administrator as soon as possible (e.g. to prevent delay in posting your changes, please do not wait for the PAR forms).
MARK the Projects/Activities you have reviewed. (This does not necessarily indicate the transactions are correct, only that you reviewed them). There are only two approved methods to indicate Evidence of Review, and both are completed using the EOR web application
- Select reviewed activities/projects, and click button “Mark Reviewed,”
- Select reviewed activities/projects, and click button “Indicate Review PDF.”
Either action leaves a data indicator that review is complete. Signed review PDFs should be retained in your files for as long as you retain other Management Report documentation. Click here for a quick online EOR tutorial.
A new Guideline has been published to offer clarification to Policy 3-003: Authorizations and Approvals Required for Financial Transactions.
This Guideline is meant to improve internal controls across campus as it outlines:
- Account Executives (AEs) and PIs remain primarily responsible for monthly review of their Management Report and submission of EOR (Evidence of Review) – even if they have chosen to delegate this authority.
- This responsibility cannot be delegated to an individual who also has the authority to initiate financial transactions.
- GFA (Granting Financial Authority) is an application found on CIS that has been recently enhanced to allow AEs and PIs to make separate delegations for financial transaction approval and Management Report Review. (Follow these instructions to delegate authority)
Review and approval of these monthly reports is a key element in the University’s system of internal controls, and is further explained in University Policy 3-003, Authorizations and Approvals Required for Financial Transactions. – See Section III.F.
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Please ASK US if you have any questions.
The Payroll Processing for the November 7th, 2019 paycheck is completed, and the paycheck information is available on Campus Information Services.
- Signon to the CIS and click the Employee dropdown (if it is not your default tab).
- Click the Payroll, Taxes and Salary tile.
- Click View Paycheck and you will see your current check.
- Click W-4 Tax Information and you can view/update your W-4 Tax Information.
- Click Direct Deposit and you can view or edit your direct deposit accounts, or suppress the printing of your direct deposit advice.
Please remember if your net pay is being direct deposited, it will not be in your bank account until NOON on November 7 , 2019 . If you receive a check, the University will mail it to your home address on file.
Payroll Reports: For more information about how to view your Check and Advice Roster please see the FBS News Post – Check Advice Roster
All Payroll self-service functions are turned off during payroll processing, which begins on the final day of the pay period at 5:00 PM and ends on payday.
If you have further questions please call Payroll at 581-7873.
The Office of Scholarships and Financial Aid has Work-Study funding available for the 2019-2020 academic year. Our goal is to fully utilize the funds we have to offer our eligible students Work-Study options. We would like to evaluate current part-time student workers to determine if they are eligible for Work-Study and also assist in any way possible for students to participate in the Work-Study program during the 2019-2020 year.
As an employer, this may reduce the cost of wages to your Department for your student employees. If you send us a list of all the part-time student workers you employ, we will happily look at their eligibility on a case-by-case basis to see if Work-Study is a possibility and provide further guidance to assist if needed.
As you are hiring new student employees, we would like to evaluate those students as well for eligibility for the Work-Study program. You may send us their name and student ID for review.
If it is determined that the student worker is eligible to participate we will let the department know. If your student worker(s) are interested in Work-Study please let them know they can on our website.
Once a student has Work-Study the employer will then need to complete a Job Referral Notice (JRN) Request on our website.
For employers with additional questions about Work-Study we have information available on our website.
You may also refer any questions the Federal Work-Study Coordinator, Emilie Hereth, at email@example.com.
The BPAG minutes from the September 13, 2019 BPAG meeting are now available on the Business Analysis & Support Services website.
What is BPAG?
BPAG stands for Business Process Advisory Group. Business officers from across campus meet monthly with central administration to address problems and issues along with suggestions to solve them. Over the past several years, BPAG has helped to facilitate many important changes implemented by central administration. BPAG is not a policy making group, a priority setting group nor is it intended to be the primary means of communicating to all the departments.
To learn more about BPAG, click here.
Subscribe to the BPAG mailing list
Please ASK US if you have any questions.
The ending quarter endowment pool unit market value (UMV) for June 30, 2019, is $220.14 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 2019-2020. If you have any questions or feedback just ask us!
Central Administration has seen multiple instances where the question on the Traineeship Form “Is the payment for a current UofU Employee?” has been answered incorrectly (i.e. “No” when it should be “Yes”).
For those completing this form, you are asked to always double check and verify if a student receiving a payment is also a University employee. Incorrectly answering that a student is not an employee, when the student is, has the potential to lead to consequences that might negatively impact the student (with the IRS), your department and/or the University (with the IRS and the Award Sponsor), and delay the payment to the student.
Please ASK US if you have any questions.
As of July 1, 2019 (fiscal year 2020), General Accounting will begin assessing a $10 fee for posting un-booked deposits greater than 90 days old to the appropriate Department.
University Policy (Rule 3-003B) states transactions should be documented, appropriately approved, and recorded on a timely basis. Revenue should be reported in the month in which the revenue is earned. Deposits that have not been recorded in PeopleSoft for more than 90 days are not meeting this requirement. Failure to book deposits in a timely manner results in inaccurate reporting of revenue on a Department’s Management Reports. See the attached memo from Laura Howat, Interim AVP for Financial and Business Services.
The State auditors will begin their fieldwork testing June 24th and will be working on campus through September. This year’s State audit team will include Jason Allen and Bertha Lui, Senior Audit Managers and their staff; Kathryn Hoins, David Ingram, Daniel Layton, Chase Brown, Tyler Lanham and Craig Hatch.
The Board of Trustees has approved both Policy 3-014; Financial Record Retention and Rule 3-014A; Financial Records Retention and Disposal.
New Policy 3-014 and its associated Rule establishes a records retention policy, as well as outlines the processes and best practices for the retention and disposal of University of Utah financial records. Policy 3-014 is meant to meet legal requirements, optimize use of space, and minimize cost.
This policy is binding for all University colleges, departments and units, including University Hospital & Clinics. This policy does not govern retention and disposal of non-financial University documents.
Departments should review Policy and Rule and implement retention and disposal schedules immediately.
1. Definitions of financial records, retention schedules, archives and document destruction.
2. Major categories of financial records with unique retention periods such as grants and contracts, bonds, purchasing, tax, Pcard, real property and capital equipment as well as general financial documents.
3. Disposal requirements.
Questions regarding the new Policy or the new Rule should be forwarded to Accounts Payable using the following ASK US form.
The Property Accounting Office wants to inform you of upcoming, and required changes to Noncapital Equipment Account Codes due to the recent revision of Policy 3-041: Accountability for Noncapital Equipment. The revisions now include THREE CATEGORIES of assets, physical inventory requirements of these categories are outlined below.
- MANDATORY INVENTORY: Noncapital equipment with an acquisition cost greater than or equal to $3,000 but less than $5,000.
- MANDATORY INVENTORY: All university-owned computers, laptops, tablets and cell phones of any value less than $5,000 that may contain Personally Identifiable Information (PII) at any point during the university’s ownership of the asset.
- OPTIONAL INVENTORY: Noncapital equipment having an acquisition cost or donated value less than $3,000 and having a useful life in excess of one year. Assets in this category are to be inventoried at the discretion of the departments or units, but not required.
Currently, in Management Reports, the Noncapital Equipment is identified as: Equip-Noncapital $1,000-$4,999, account number range 61400-61419, but this account code structure doesn’t provide the granularity required to implement new inventory requirements.These changes will be effective as of July 1, 2019, but you may want to include the accounts codes in setting up new PO’s and PR’s for FY2020.
There have been no changes to the capital equipment account codes (61000-61021), for all assets including computer related devices over $5,000.
If you have any questions please call employees of Property Accounting: Paula Monaco 581-8673, Pamela Day 585-6969 or Robin Love 581-3973.