Finance and University Comptroller

FISCAL ADMINISTRATORS MEETING

June 15, 2009

ISDS held a pre-session on the new Time and Leave System

• Go live date is September 14, 2009

• Go in through Self Service Web page

• 9/14-9/27/09 first bi-weekly payroll

• October 2, 2009 – first payday under the new system

• Training to come soon

FA Meeting

Executive Vice President and Chief Operating Officer – Leonard Sandridge

Economic Impact

University is doing ok. At a time when liquidity is especially important, we are able to pay our bills.

These are not the worst cuts he has seen, not the worst endowment, State, or Athletic times, but the difference is that they all hit at once. He does not think the recession is over, will take a year or two to come out of.

Cumulatively, over the past three years, we have seen a $32.5 million or 21.25% reduction in our state appropriation.

We have absorbed the state budget cuts without layoffs, and he realizes the burden this has placed on you (fiscal administrators). He wants to avoid layoffs. We have achieved this by attrition and holding vacancies open.

Employment level reduced by 275 FTE by holding jobs open

Auxiliaries have been hit hard. They have seen what retailers are seeing.

The Capital Campaign has slowed down a little, but not as significantly as one might think, and we continue to receive gifts.

The University receives 6% revenue from the State as opposed to 35% that we use to get. He is concerned that there will be no salary increase for the 2^nd year. Determining salary increases for faculty and University staff will be a priority as we recover.

Understands the pressure that fiscal front line people see…people testing rules and policies, knows it’s not fun and can be stressful. He is glad you are there and thanks you for all that you do. Encourages you to keep up the good work, things will get better.

Gift Accounting – Debbie Emmart whatever

Update – Steve Kimata

Accounting Services change – The Cashiering office will be closing at 4:00 pm instead of 5:00 pm every day. For the 1 hour that the building is still open, students may use the computers in the lobby to pay bills, or drop deposits, payments, etc. in a drop box that will be available. This will begin on July 1^st.

Travelers Checks – the volume for these has gone way down, less than 10 now. We are looking to stop distributing these at the beginning of the fiscal year.

AAA Bond Rating – very big for UVA. The criteria for receiving this is, management of the institution, they have to feel comfortable with this. They didn’t just look at the BOV and VP’s, but they also looked at the fiscal people. They know how decentralized the University is.

Internal Control Questionnaire – Due Today! Please get them in as soon as possible.

ISDS – Shy Hicks

There was a pre-session on Time and Leave this morning. Classes will be in July and early September. Will be hands on, strongly encourages everyone to sign up including users and mangers.

FY End Calendar Cut-offs – on Accounting Services and Procurement websites

System Perspective – 6:00 pm on Monday, June 29 we will disable all responsibilities, just like every month, but will also disable PO Shopper, PO Purchaser, and PO Requester. The responsibilities will be re enabled before 7:00 am on July 1^st.

On July 1^st, we will start loading annual budgets. We will send an email asking you to stay away from certain awards during that time. We should be done by Monday, July 6 and will send an email when the load is complete.

Procurement

Eric Denby

Two new Government Executive Orders – Mandatory

• Effective immediately, we must use 30% recycled paper. Guy Brown is the least expensive of the vendors. The paper is better now than it used to be, should not be an issue using it anymore.

• Energy conservation –diesel fuel – must have percentage of bio fuel in it equal to or greater than 2%

• Cannot buy bottled water with state funds anymore

You can go to the Governor’s website to see all of the Executive Orders (82)

Meetings – you should think about video conferencing or conference calling instead of traveling

P-Card Reminders

Two emails were issued to cardholders and supervisors of cardholders during the past two weeks

• Reminder that cardholders and supervisors must complete on-line p-card training annually

• Supervisors must conduct an annual analysis of their p-card holders’ transactions and set card spending limits accordingly.

General Reminder that the APA is here for their annual audit and the p-card is always a candidate, so I hope your department has all your documentation in place.

Also we failed badly again this year for ARMICS testing in regard to supervisory review of P-card statements. We must work to improve this. Supervisor must approve the p-card transactions before the next statement is received.

There will be no meeting in July. The next Fiscal Administrators meeting is scheduled for Wednesday, August 12, 2009, at 10:00 am in the South Meeting Room, Newcomb Hall.