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FISCAL ADMINISTRATORS MEETING
April 17, 2008
Please note: Meetings are scheduled from 10:00AM - Noon. Please plan to attend the entire meeting.
Opening Comments – John Mchugh
- Internal Controls Questionnaire is due April 18th. Only about half have been turned in so far.
Cash Handling Training – Ken Sinarski
- Wanted to talk about the new cash handling class – not just checks and cash, but also credit cards, petty cash, wires, etc.
- The are scheduled on the last Wednesday of every month in Carruthers Hall
- Aimed at business managers and people who are responsible for cash handling processes
- Good information to know for audits
- We have been working on ways to improve how we deal with our customers as things become more web-based
- Introduced BC Worsley
- Handout –
Payment Card Industry Data Security Standards (PCI DSS) –
The PCI DSS is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures.
Everyone who accepts credit cards at the University must comply with these requirements & the 280+ sub-requirements:
- Build and Maintain a Secure Network
- Requirement 1: Firewall configurations to protect cardholder data
- Requirement 2: System passwords and other security parameters
- Protect Cardholder Data
- Requirement 3: Protect stored cardholder data (including paper copies)
- Requirement 4: Encrypting transmission of cardholder
- Maintain a Vulnerability Management Program
- Requirement 5: Anti-virus software
- Requirement 6: Develop and maintain secure systems and applications
- Implement Strong Access Control Measures
- Requirement 7: Restrict access to cardholder data by business need-to-know
- Requirement 8: Assign a unique ID to each person with computer access
- Requirement 9: Restrict physical access to cardholder data
- Regularly Monitor and Test Networks
- Requirement 10: Track and monitor all access to networks and cardholder data
- Requirement 11:Regularly test security systems and processes
- Maintain an Information Security Policy
- Requirement 12: Maintain a policy that addresses information security
The University’s requirements for credit card acceptance can be found at:
http://www.virginia.edu/finance/docs/cc_requirements_5-8-07.pdf
**NOTE: These apply to anyone at the University that is accepting credit cards as part of University business or that would APPEAR to be associated with the University. Any breach of PCI requirements results in at least a $50,000.00 fine! Yes, this includes use of PayPal & other third-party.
If you handle credit cards, we recommend that you check out our new course:
Controlling Cash, Checks, & Credit Cards at the University of Virginia
http://fusion.web.virginia.edu/dotweb/coldcalendar/index.cfm?
fuseaction=ViewEventDetails&EVENT_ID=40197
Required to validate PCI information every year – if we haven’t gotten to you yet, we hope to before June 1st.
Even if you don’t handle the money – you have contracted an external handler - there is language that needs to be added to the contract
Mail Services – Jack Parker
Postage increase May 12, 2008, from $0.41 to $0.42; price increase tied to the Consumer Price Index (http://www.virginia.edu/mailservices/docs/stampincrease.doc); price will increase every year around the same time.
If possible, buy Forever Stamps; their price remains fixed through subsequent price increases; can be purchased in books, not coils.
Please see attached Mail Alert regarding United States Postal rate increase!
Sponsored Programs – Sharon Boyd
Next Brown Bag Session – Requesting the Establishment of Sub-awards issued by UVA is May 13th, 12:30-1:30 in 481 Newcomb – led by Georgia Grant
NCURA teleconference June 10th in Jordan Hall will deal with complex agreements, such as transfer agreements, disclosure agreements, patents, etc. We will announce through the OSP training listserv.
Visit the OSP website for all educational offerings – see the Education Calendar for details.
ISDS – Shy Hicks
- Year End Cutoff Dates - http://www.procurement.virginia.edu/main/interim/FY2008Schedule.xls
- will be just like month end
- PO Purchaser “actions” button will be disabled from June 27th until July 1st, but you can still do everything else. There just will not be any new expenditures created until 7am July 1st.
- should be easier than previous years
- Handout –
Labor Encumbrances:
As you know, this year for the first time we generated encumbrances to include the final Goal Pay and Semi-monthly paid semi-monthly payrolls of the fiscal year. Also, a new DFF on sponsored program awards (those beginning with a “G”) generated labor encumbrances to the end of the sponsor’s budget period instead of the end of our fiscal year.
We have discovered a problem!
Labor Schedules that have a BEGIN DATE after 24-May-2008 are not being picked up by the encumbrance process, and therefore are not being encumbered at this time.
Who is affected?
- Labor schedules on Grants and Contract (‘G’) awards that start on/after 25-May-2008.
Example: Faculty reassigned to a research grant over the summer months 25-May-2008 to 24-Aug-2008.
- Semi-Monthly and Goal Pays if the LD schedule’s entered Begin Date is within the last pay period of the fiscal year.
NOTE: This does not affect schedules that have been in effect all year and extend through or past 24-May-2008. It ONLY affects labor schedules whose entered Begin Date is after 24-May-2008.
ISDS is assessing and evaluating several options to address this issue before we reach May 25th but we do not have a solution at this time.
The next Fiscal Administrators Meeting will be on Wednesday, May 21, 2008, at 10:00 am in the South Meeting Room, Newcomb Hall.
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