Annual Reminder for Principal Investigators and Key Personnel Charges

Posted June 13, 2008 in Grants and Contracts Accounting, Management Accounting and Analysis and tagged .

Each department should ensure the appropriate level of effort of Key Personnel on projects. Key Personnel include all Principal Investigators and others specifically listed on the awarding document. Recently the auditors of grants and contracts have been concerned that Key Personnel have not been charged as budgeted on federal awards. Normally a person’s home department has the knowledge of the amount estimated, accumulated and reported effort for each Key Person.

Would you please take the time to review the percent of effort budgeted for Key Personnel on federal awards. Key personnel must provide effort at the level budgeted. If there is a reduction of effort for Key Personnel greater than 25% of the budgeted amount, then it is necessary to obtain the appropriate approval from the awarding agency.

In regards to the management reports, it is important that the reports are reviewed promptly upon receipt and retained in the department. Do not return reviewed reports to the accounting department. It is the responsibility of each responsible person to review his/her monthly Management Reports. Your review (or that of your designee) MUST be documented on the first page of each Activity or Project.

If you have questions, please contact the representative in Grants and Contracts Accounting responsible for your project.

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Critical time to monitor distributions

Posted June 10, 2008 in Payroll and tagged , .

It’s that time of year when payroll distribution updates are hitting the database from multiple sources–PAN Distribution, Vision, FYSC, ePAF and paper PAN’s. The potential for payroll distributions to be off is always higher around fiscal year end. Please pay attention to distributions when in FYSC, and monitor distributions closely using buttons in D-Jobs over the next three pay periods (and year round, as always!).

Take advantage of the D-Jobs Distributions Ending button, which shows jobs with distribution problems spanning 3 pay periods (currently displaying through the July 15 pay period). Select the Show Distributions button in D-Jobs, and you’ll find the Distributions Ending button near the top of the page.

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Editorial Changes to PPM 3-7 – Please Review

Posted June 6, 2008 in Controller, Financial Reporting and Accounting and tagged , .

Financial & Business Services has made editorial changes to PPM 3-7, Authorizations and Approvals Required for Financial Transactions.

We have made changes to the language of the policy to better reflect procedures of electronic approval and delegation that are beginning to emerge, such as the recent implementation of ePAF. The changes clarify concepts and responsibilities of delegation, strengthen some statements to minimize financial risk to the University and update terminology. We encourage departments to review PPM 3-7, as it reads today, and carefully consider procedures of signature authority and delegation.

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Endowment Projections – Q3 FY 2008

Posted June 2, 2008 in Endowment & Investment Accounting, Financial Reporting and Accounting.

The ending quarter endowment pool unit market value for March 31, 2008, is $211.56 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 calendar year. For detailed instructions on how to project endowment income, please refer to an earlier posting at: https://fbs.admin.utah.edu/news/2008/02/12/endowment-projections/.

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ePAF is now live!

Posted May 27, 2008 in Payroll and tagged .

Human Resources new ePAF system was launched today. Departments that have received training may now begin using the new system.

Before initiating new ePAF’s in your department, your Department/Org Head may want to access the Manage Personal Workflow eForm and delegate approval authorization. Click here for more information on the 3 delegated approver roles to determine which will best fit with your department’s approval needs.

To access the ePAF system, log on to the Campus Information System and locate the ePAF pagelet (box) on the Employee tab.

Browse the ePAF website or contact your HR Service Team for more information or support with the new ePAF system.

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Learning Opportunity for Departmental Business Administrators

Posted May 20, 2008 in Financial Services and tagged .

WACUBO, the Western Association of College and University Business Officers, offers an annual learning experience for central and departmental business administrators. Participants play many different roles in their institutions; they are academic officers, staff and other mid-level personnel who perform various administrative and business functions for other institutions like the University of Utah.

The Business Management Institute will be held on the University of California, Santa Barbara campus August 3 – 8, 2008. If you are interested in more information and registration, you may visit the following site:

https://www.wacubo.org/bmi/bmi.shtml

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Blanket, Maintenance, and Lease Purchase Orders to Automatically Close

Posted May 12, 2008 in Accounts Payable, Financial Reporting and Accounting, Grants and Contracts Accounting, Procurement and Supply Management and tagged .

As a reminder, the Purchasing Department will automatically close all annual blanket, lease, and maintenance purchase orders valid through June 30, 2008. It is not necessary to submit an on-line closure request for these purchase orders. They will be closed on July 17, 2008, before the June 2008 accounting calendar closes. Please contact Purchasing, x1-7241, with any questions.

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Purchase Order Closures Simplified Through Encumbrance Report

Posted April 23, 2008 in Accounts Payable, Financial Reporting and Accounting, Grants and Contracts Accounting, Procurement and Supply Management and tagged .

Effective April 23, 2008, we are pleased to announce the new ability to easily request purchase orders be closed through your Encumbrance Management Report. Confirm and submit your request to close unused or outdated purchase orders without filling-out or printing any forms. Requests are electronically documented, tracked, and submitted to allow for timely purchase order closure and disencumbrance.

This new feature is accessed by clicking on the ‘Close PO’ link found in the ‘Close Date / Action’ column of the Encumbrance Report. Simply click on the link corresponding to the purchase order to be closed and follow the easy on-screen instructions to guide you through submitting your request. You even have the ability to cancel a closure request if you change your mind. Purchase orders with a status alert, denoted in red text, are not currently eligible to be closed. Additional information regarding alerts and other help topics are available through the Encumbrance Summary Help section.

The Purchasing Department and Grants and Contracts Accounting are encouraging departments with general and scholarship/fellowship purchase order encumbrances to begin using this new paperless procedure right away. Paper and e-mail requests to close purchase orders will still be accepted during a brief transition period.

Take advantage of this simple, yet powerful new feature to save time and paper, ensure accuracy, and clean-up both your Activity and Project Encumbrance Reports. You may contact the Purchasing Department, x1-7241, with further questions.

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Budget Variance Management Report

Posted April 23, 2008 in Financial Reporting and Accounting, Financial Services Technical Support and tagged , .

Beginning April 23rd, a new managment report selection will be available entitled “Monthly Variance Report“. This report is for Activities and BU02 & BU03 OrgIDs. It is not for Grant and Contract Projects. The report shows budget, actual revenue and expense, and the budget variance for both the current month and year-to-date. Take a look!

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Financial Year-End Information & Dates – FY2008

Posted April 21, 2008 in Financial Reporting and Accounting and tagged .

The Year-End Information & Dates document has been updated for fiscal year 2008. This document indicates when accounting documents must be delivered to the appropriate accounting office to ensure the transactions are booked in June.

Also, the Accounting Calendar has been updated through May 2009.

Links to both the Year-End Information & Dates and the Accounting calendar are on the Financial & Business Services pagelet on the Campus Information System (CIS).

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