Recurring Journals for FY2008

Posted June 1, 2007 in Financial Reporting and Accounting.

Recurring Journals for FY2008 should be sent to Mike Olsen in Financial Reporting & Accounting (403 Park) by June 30.

A “Recurring Journal” is a journal that is processed each and every month with NO changes to it. The chartfields and amounts remain the same throughout the fiscal year.

No recurring journals will be carried forward to the new fiscal year. Therefore, those who have had a Recurring Journal for fiscal year 2007 will need to prepare a new journal for fiscal year 2008. Anyone who wishes to submit a Recurring Journal for fiscal year 2008 should prepare the journal using the standard journal form found on CIS and the word “RECURRING” must be written at the top of the journal.

Refer any questions to either Steve Allen (1-8826 steve.allen@admin.utah.edu) or Mike Olsen (1-3763 mike.olsen@admin.utah.edu).

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Fiscal Year-End Closing Practices

Posted May 30, 2007 in Accounts Payable and tagged .

It’s that time of the year again when all of our business culminates into one audited financial report. If you have any tips that you would like to share for the benefit of less experienced business officers like streamlining the management report reconciliation process or making the year-end ‘crunch’ easier to manage, feel free to drop us a line at ap@admin.utah.edu and we will publish them on our Accounts Payable website. Make sure that you indicate whether or not you want credit for the hint.

Your comments, questions and suggestions are always welcome at ap@admin.utah.edu.

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May & June ’07 Training Sessions

Posted May 1, 2007 in Financial Services and tagged .

Click here for a listing of upcoming Training Sessions. Please circulate the list throughout your area, taking particular care to reach new hires. We appreciate your efforts in making everyone aware of these opportunities.

There is still room to pre-register for the Small Business Supplier Showcase, being held on May 10 in the Student Union Ballroom. If you are interested in attending the breakout business session, you will want to pre-register for the Showcase plus Business Forum.

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Financial Report Meetings

Posted April 27, 2007 in Controller, Financial Reporting and Accounting and tagged .

A new auditing standard is in effect for this year’s annual financial report. Auditing standards describe how an auditor performs his/her work – so this applies to the University’s external auditors. The new standard describes how internal control issues are communicated to governing boards. All external auditors, whether with the state, federal government, or some other auditor will be adhering to this new standard. For more information on what we’re doing to prepare, please click on the following link https://fbs.admin.utah.edu/download/controller/financialreportmeetingsdescription.pdf

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Supplier Showcase: Pre-register and You could Win Prizes!

Posted April 27, 2007 in Financial Services.

If you pre-register for the upcoming Small Business Supplier Showcase by Friday, May 4, you could win two airline tickets along with various other prizes! Choose ONE of the links below to register for either the “Supplier Showcase Only” or the “Supplier Showcase with Business Forum”:

2007 Supplier Showcase Only
2007 Supplier Showcase with Business Forum

If you prefer to register via email or phone, please send the following information to pcard@purchasing.utah.edu or call 581-7241:

  • Employee ID Number, Name, Department, Email Address, Phone number, and whether you are attending the “Supplier Showcase Only” or “Showcase with Business Forum”.
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Ethics and Compliance Hotline Upgraded

Posted April 19, 2007 in Controller and tagged .

The University is committed to the highest standards of ethical conduct and encourages employees and others to report any dishonest or improper act (i.e., one that violates the law, wastes money, or endangers public health or safety). Employees are encouraged to report suspected improprieties to their supervisor or to a higher level if the supervisor is involved. If a crime has been committed, it should be reported immediately to University Police at 585-2677.

For the past few years the University’s Internal Audit Department has administered an ethics and compliance hotline to provide an additional avenue for employees to report suspected problems. The University recently selected EthicsPoint, a private contractor, to administer the hotline. The EthicsPoint service offers the advantages of independence, confidentiality, and better availability (24 hours per day, 7 days per week). Hotline reports may now be made online at www.ethicspoint.com or by calling (888) 206-6025.

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State Auditor’s Visit

Posted April 17, 2007 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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Use of Endowment Supported Funds

Posted April 12, 2007 in Endowment & Investment Accounting.

Development and Business Services staff have been working on a project to create reports on endowment activity for donors. This is the first in a series of communications regarding this project. Please read on to learn more about how this will affect you. Go to https://fbs.admin.utah.edu/download/ga/UseOfEndowmentSupportedFunds.pdf

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Travel for Visitors to the U

Posted April 5, 2007 in Travel and tagged .

Attention Travel Planners:

We have received several questions regarding payment of expenses on behalf of visitors to the University. If your department intends to prepay the expenses for a visitor, use Travel paperwork, not Limited Purchase Orders, and please keep in mind the following:

  1. Airfare: Refundable fares may be most appropriate, these fares must be booked by our onsite agents. Please use the Reservation Request form.
  2. Lodging: Follow the instructions posted on the visitor web page. We recommend use of the University Guest House whenever possible.
  3. If you anticipate you will be reimbursing the visitor for any out of pocket expenses, you may want to initiate creation of the Vendor Number in advance using the Visitor Vendor Add form.

Please direct any questions regarding these procedures to the Travel Office, 581-7142.

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Small Dollar Purchases

Posted April 2, 2007 in Accounts Payable.

The University utilizes several different methods and tools in helping faculty and staff procure and pay for small dollar items. The P-Card is one of these tools, which has proven to be an efficient and cost-effective method for many departments within the University. A new memo from the Associate Vice President for Financial & Business Services encourages university business officers to look for opportunities to use the P-Card even more, where it is possible and practical to do so. Please click here for more details.

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