Project Negative Encumbrance ERRORS

Posted March 15, 2013 in Financial Services, Financial Services Technical Support, Grants and Contracts Accounting.

We feel it important to inform you of an error that exists in the Financial System. There are projects that have a NEGATIVE ENCUMBRANCE(s) on the Management Reports and all other reports that reflect encumbrances. This error is limited to non-payroll encumbrances and only to Projects. This error is a result of the recent PAM implementation of the new Grants modules. There is currently no resolution to the problem.

Please take extra care in looking for any negative encumbrances and reduce the Budget Balance Available by the negative encumbrance(s) amount to obtain the correct amount available on the award.

We are currently investigating the problem.

 

EXAMPLE

Budget PTD Expense Encumbered Budget Balance  
$100,000 $105,000 ($20,000) $15,000 ERROR
$100,000 $105,000 $0 ($5,000) CORRECT

 

Ask UsPlease ASK US if you have any questions or concerns.

Comments Off on Project Negative Encumbrance ERRORS

F&A Encumbrance Posted!

Posted March 11, 2013 in Grants and Contracts Accounting and tagged .

We have posted the F&A Encumbrance  just in time for the February 2013 Month End Close.  No March F&A Encumbrance adjustments have been posted yet. We are committed to posting this at least once a month (at month end) and in the near future posting  on a daily basis. We will send out another FS News Post when this begins.

Ask UsPlease ASK US if you have any questions or concerns.

Comments Off on F&A Encumbrance Posted!

Crucial Purchasing Changes – Additional Session

Posted March 4, 2013 in Procurement and Supply Management, Purchasing Card and tagged , , , .

An additional Crucial Purchasing Changes training session has been scheduled on Tuesday March 12, 2013 at the Spencer Fox Eccles Business Building (SFEBB). There is also a session on Friday March 8, 2013 at the Film and Media Arts Building (FMAB) that still has availability. This is recommended for everyone that is involved directly or indirectly with any type of purchase for the University. As the state law related to procurement becomes effective on May 1, 2013, please register if you haven’t had an opportunity to attend a previous session. The first portion of the training will include small dollar purchase related issues; the second half will cover changes to bids, RFP’s, sole source purchases and many other procurement processes. The remaining sessions are posted on the Registration website and classes are titled: New Procurement Code/Policy Training. Please share this information with anyone in your department who would have interest or need to know about these changes. Permit (A & U) and pay lot parking for the SFEBB is across the street, south of the building.

To view the article in the Momentum Newsletter click here
To register click here

If you have questions regarding these trainings, please contact Jo Rudd at: jrudd@purchasing.utah.edu or 801-581-8472

Ask UsPlease ASK US if you have any questions.

Comments Off on Crucial Purchasing Changes – Additional Session

Q2 FY 2013 Unit Market Value for Endowment Projections

Posted February 25, 2013 in Endowment & Investment Accounting, Financial Reporting and Accounting.

The ending quarter endowment pool unit market value for December 31, 2012, is $201.80 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FS 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 2013-2014.

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

Comments Off on Q2 FY 2013 Unit Market Value for Endowment Projections

Crucial Purchasing Changes

Posted February 13, 2013 in Procurement and Supply Management and tagged , .

Changes in state law related to procurement will become effective on May 1, 2013. A new training will present these changes and how they will affect business for the University of Utah. There are still openings in some of the classes. It is highly recommended that everyone who is involved directly or indirectly with any type of purchase attend one session. Several different topics regarding aspects of purchasing will be discussed. The first portion of the training will include small dollar purchase related issues; the second half will cover changes to bids, RFPs and many other procurement processes. Dates and times for each training are available on the Registration website and classes are titled: New Procurement Code/Policy Training. Please share this information with anyone in your department who would have interest or need to know about these changes.

To view the article in the Momentum Newsletter click here:

Momentum Newsletter

To register click here:

Register for Training

If you have questions regarding these trainings please contact Glendon Mitchell at: 
or 801-587-3784.

Ask UsPlease ASK US if you have any questions.

Comments Off on Crucial Purchasing Changes

F&A Encumbrance Still Incorrect

Posted February 11, 2013 in Grants and Contracts Accounting.

As reported last month, we are having issues with the F&A Encumbrance calculation. The F&A Encumbrance is incorrect on several Projects on the January 2013 Management report. We do not currently have a resolution to this problem. We have reversed ALL F&A Encumbrances on ALL Projects in February 2013. We will wait for a solution to this problem before we re-post the F&A Encumbrance. We do not have an ETA for the resolution, but we expect it to be corrected in the next few months.

Thank you for your patience. We apologize for any inconvenience this has caused.

 

Ask UsPlease ASK US if you have any questions or concerns.

Comments Off on F&A Encumbrance Still Incorrect

Project Liaison Self Service Application back in service

Posted January 31, 2013 in Grants and Contracts Accounting and tagged .

We are pleased to announce that the Self Service application to update the Liaison for Projects is back in service! After searching for a Project or Projects in Project Lookup, in the upper left, you will see the “Change Liaison/Phone” button reactivated. Clicking on that button will take you to the Self Service App. If you have questions about how to use the application, you can find answers here. Thank you for your patience while this issue was resolved.

Ask UsPlease ASK US if you have any questions.

Comments Off on Project Liaison Self Service Application back in service

F&A Encumbrance incorrect on December 2012 Management Report

Posted January 11, 2013 in Grants and Contracts Accounting and tagged .

The F&A Encumbrance on the December 2012 WEB Management Report was not calculated correctly. Since we have already closed the December Accounting month, the correction will be reflected in January. We apologize for any inconvenience this may have caused.

Ask UsPlease ASK US if you have any questions or concerns.

Comments Off on F&A Encumbrance incorrect on December 2012 Management Report

January 2013 Momentum Newsletter

Posted January 10, 2013 in Financial Services and tagged .

The Momentum Newsletter is published quarterly and is meant for the use and benefit of the University of Utah Campus Community.

A full printable version of this newsletter is also available to forward to your colleagues.

Comments Off on January 2013 Momentum Newsletter

December 2012 Accounting Month Closed

Posted January 10, 2013 in Financial Reporting and Accounting, Grants and Contracts Accounting and tagged , .
All financial transactions have been successfully posted for December 2012.  The Accounting month is now closed.  This means that:
  • PDF Management Reports can now be produced. After you have reviewed your Management Reports, you may provide Evidence of Review (EOR) by: 
    • Use EOR and click on the “Mark Reviewed” button.
    • Use EOR and click on the “Indicate Review PDF” button. Print and sign the generated PDF.
    • Printing the pdf version of the Management Report and signing it.
Learn more about Electronic Management Reports and Evidence of Review:

Financial & Business Services is excited about these new processes. Please provide us feedback, questions or suggestions on:

  • Electronic Management Reports
  • Evidence of Review

Ask UsPlease ASK US if you have any feedback, suggestions or questions.

Comments Off on December 2012 Accounting Month Closed