4th floor Park Building Relocation this week: Apr 21 – 25

Posted April 21, 2008 in Financial Services.

The following departments will be moving from the 4th floor of the Park Building to Building 36 (map) throughout this week, and should be settled and ready to resume regular business on April 28th. We will be located in Bldg. 36 through at least December 2008 while work is completed on the roof of the Park Bldg.

REGARDING MAIL:

  1. If you are sending documents to any department located on the 4th floor of the Park Bldg., continue to use our Park Bldg. address. Campus Mail will deliver these items to our temporary location.
  2. If you hand-carry documents to the departments on the 4th floor of the Park Bldg., there are 2 options for you:
    • To expedite processing, deliver documents directly to our temporary location. (Bldg. 36) You may begin making delivery directly to Bldg. 36 beginning Monday, April 28th.
    • Deliver your documents to AP (145 Park), we will be transporting documents back and forth. (NOTE: this may delay processing by one business day)

DEPARTMENTS AFFECTED:

  1. Accounting Operations and Controls, Laura Howat
  2. AVP, Jeff West
  3. Compliance Accounting & Reporting, Barbara Nielsen
  4. Controller, Theresa Ashman
  5. Financial Services Technology Support
  6. Financial Reporting & Accounting
  7. Grants & Contract Accounting
  8. Internal Controls
  9. Investment and Endowment Accounting
  10. Investment Management Office
  11. Cost Accounting & Analysis
  12. Property Accounting
  13. Travel Services
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Important Sales Tax and License News

Posted March 28, 2008 in Tax Services and tagged .

The Utah State Tax Commission has assigned a new sales tax license and exemption number to the University of Utah. Please begin to use sales account license and sales tax exemption number 11874443, replacing 20203, immediately. A new sales tax exemption certificate, Form TC 721, has been posted to the Purchasing website at https://fbs.admin.utah.edu/download/purchasing/tc-721g.pdf. Please provide this new updated form to our suppliers.

Effective April 1, 2008, several Utah counties and cities have an increased sales tax rate. If your department conducts business in Richmond, River Heights, Cache County, Bountiful, Centerville, Blanding, Naples or Weber County, please see the increased sales tax rate at https://tax.utah.gov/sales/ratechanges.html.

If you have questions on the above sales tax changes, please contact Laura Howat, Associate Director, Accounting Operations and Controls at laura.howat@admin.utah.edu.

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New Utah Tax Payroll Withholding Tables Effective for Pay Period Ending 3/15/08

Posted March 19, 2008 in Payroll, Tax Services and tagged .

The Utah Legislature amended the way that Utah income taxes are calculated. Accordingly, there is a new 2008 payroll tax withholding table. The new table will be in effect beginning with the pay period ending 3/15/08.

You may notice a minor difference in your Utah income tax withholding on the paycheck issued on Mar 21st, 2008 compared to prior paychecks, even though your tax withholding status has not changed.

For detailed information regarding the Utah 2008 revised tax withholding tables, please go to Utah Tax Commission web site at: https://tax.utah.gov/forms/pubs/pub-14.pdf

Please contact Tax Service at 585-0382 if you have any questions on this matter.

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State Auditor’s Visit

Posted March 7, 2008 in Controller and tagged .

Click here to view a memo from Theresa Ashman, University Controller, regarding the upcoming visits from the State Auditor’s Office.

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EBT by Department now available

Posted March 6, 2008 in Financial Services Technical Support, Payroll and tagged , .

We are please to announce the launch of three new EBT queries in the Financial and Human Resource Information Library.

  • EBT by Home Department – Similar to the Hardcopy “Peach” report that is mailed out to departments quarterly.
  • EBT by Employee – Same as the EBT by Home Department except allows the user to specify emplid.
  • EBT by Reporting Department – Same as EBT by Home Department except is Reporting Department driven.

Check out the help available on the “details” tab.

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Airfare Exchange & Unused Ticket Procedures

Posted February 20, 2008 in Travel and tagged .

During the normal course of business, airfare tickets are exchanged for a different flight time or date, or may even go unused if the trip is cancelled. Airfare changes or cancellations often result in an airline credit that must be used within one year of issue. The onsite agents provide all necessary information for the travel planner to “cash in” the value of an airline credit. Departments must keep track of their own airline credits and redeem them with the next business trip taken by the passenger. To avoid forfeiture of these credits, unclaimed airline credits and unused tickets issued by our office will be taken as an institutional credit within 10 days of the expiration date.

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D-JOBS Filtering by Employee Status

Posted February 13, 2008 in Payroll and tagged .

Department Job Summary (D-JOBS) has been improved to allow the user to filter the displayed job list by Employee Class (Active, Terminated, On Leave, etc.).

Check it out!

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Estimating Endowment Income

Posted February 13, 2008 in Endowment & Investment Accounting and tagged .
  • Have you ever wondered how to estimate how much endowment income your department will have to award scholarships or fund programs?
  • Would you like to know how to calculate this?
  • Come to our new supplemental Endowment Income Projections training following the Endowments 101 Workshop on March 26, 2008.

The Projection training will begin at 4:00 PM on Wednesday, March 26th in Park 404 and will last approximately 30 minutes. Please register online at:

https://fbs.admin.utah.edu/training/training-special-topics

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Endowment Projections

Posted February 12, 2008 in Endowment & Investment Accounting, Financial Reporting and Accounting, Grants and Contracts Accounting and tagged , .

Financial and Business Services is pleased to offer colleges and departments two methods for estimating the amount of endowment income expected during the next fiscal year. In the future, the necessary factors for doing the calculations will be provided on either an annual or quarterly basis, depending on how often they change.

Click here for detailed instructions.

Click here to register for Training taught in conjunction with the Endowments 101 Workshops.

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Accounting for Special Student Fees

Posted February 11, 2008 in Financial Reporting and Accounting, Income Accounting and tagged , , .

Effective July 1, 2008, special fees assessed to students will be recorded using general ledger account 4077X. All existing default chart strings for special fees will be changed automatically to the new range effective with for the 2008-2009 fiscal year and beyond. Information regarding what constitutes a special fee can be found in the Policy and Procedures Manual (https://www.admin.utah.edu/ppmanual/3/3-8R5.html). All new special fee requests will be coded using the new range. Special Fee Request forms will be changed to reflect the new accounting information. Please be sure you are using the correct form when requesting a new fee. You do not need to take any action, however, for existing fees. The form to request a new special fee can be found at the following web address: https://www.humis.utah.edu/humis/docs/organization_269_1180469506.PDF

The form will be modified to “hard code” the general ledger account to 4077X. In the meantime, please be sure to use the proper general ledger account when completing the form. We will begin making this change with the April 2008 bills for summer session. This change is necessary in order to provide accurate reporting on the University’s financial report and to various governing bodies. Because of the impact to institutional reporting, it is important that journal entries not be used to move transactions off this general ledger account range once they’ve been posted. If you have questions, please contact either Sandy Hughes (sandy.hughes@utah.edu) or Steve Allen (steve.allen@admin.utah.edu).

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