Fiscal Administrators Meeting
Opening Comments – Eric Denby
Information Technology Services – Shy Hicks
Fall Patching – December 7 – 9, 2012
· We will be patching Production beginning at 12:01 AM on Friday, December 7th and expect to be through by 7:00 AM on Monday, December 10th. If we are lucky and have no issues, we hope to be through with the patching before then.
· All users will be unable to access Production during this time. We realize that this is a huge imposition for everyone but we learned last year when we patched in December that things did not go as expected and we had to roll back Production because of a “false” error in the patching. It turned out that we could have proceeded but no one at Oracle told us that at the time.
· So we are taking no chances this year and will be working with our Oracle Customer Support Representatives on Friday, Saturday, and Sunday to ensure that we do not have the same problems this year.
· ODS will be available until 10:00 PM on Friday night and then will be down until Monday, December 10th at 7:00 AM.
· Again, I know this is going to be a problem for many of you but you could view it as a time to work on other things while we are down for patching.
Treasury Management – Jim Matteo
Cash Deficits Update - Policy was approved June 2011.
Spent the first year working with departments to identify and begin addressing cash deficits. The majority of deficits have been approved and acknowledged as to why they are occurring.
· From June 2011 – June 2012 - 28% reduction in the number of deficits and 10% reduction in the dollar amount of deficits.
· An uptick in cost transfers
· As of Sep. 30, 2012, there are 27 Organizational Units that had deficits totaling $156 million. Nineteen have been contacted and received authorization requests from 13.
· Will monitor deficit balances at each quarter end and could potentially charge interest of 6.375% on unauthorized deficit balances
· Initially, plan to MONITOR deficits and NOTIFY departments. Would prefer departments manage their accounts and inform them if an authorization needs to be modified or requested for review and approval.
Internal Investment Program Enhancements
Treasury plans to make certain enhancements to the IIP that will become effective Jan. 1, 2013.
Enhancements are designed to do 2 things:
· improving the program for investors
· increasing participation in the program
a. Two pools (ST and Int. Term)
b. Change in rates paid
c. Change in minimum investment
Transfers from old Pool 3 to Int. Term pool will be done for you on Jan.1
Push to increase investments in IIP
Both the IIP policies and procedures will be updated to reflect this.
Remote Deposit Service Pilot
The School of Nursing is participating in a pilot program with to image paper currency directly to bank screens instead of transporting cash and paper checks. The imaging machine is small and compact. The original paper checks are kept in the department for 2 weeks. There is no minimum volume and no charge to the department. Service is offered as a security measure and a convenience to the department. Contact the Treasury Office if you would like more details.
Treasury - Discussions
Procurement and Supplier Diversity Departments should have a plan to cover deficits and departments are strongly encouraged to invest in the pool. Interest on Endowments would stay invested for the department and would work in their favor. Interest charge is intended to be a deterrent from incurring deficits not a revenue generator. Interest will be compounded on the quarterly end balance. If deficits are approved, there may not be a charge for up to 2 years.
Procurement Services – Eric Denby
Important Information Regarding the Use of the P-card with PanAm and Hotels - - Delores Hildebrand
With the implementation of PanAm, the hotel restriction on P-cards was removed to allow PanAm to make reservations directly with the hotel. PanAm audits all hotel charges to ensure compliancy with all University travel policies. Previously, hotel transactions on the P-card were not allowed because there was no way to prevent unallowable charges such as meals, movies, and laundry services. The P-card can only be used through PanAm for Hotel transactions. You are no longer allowed to use your card to hold a reservation or prepay a first night deposit. If our review of P-card charges reveals a P-card has been used directly with a hotel, the card will be suspended for a minimum of three months.
It is very important that the P-card only be used to pay for authorized charges at a hotel (tax, parking, internet, business center, and mandatory resort fees). PanAm has set up the email address email@example.com to handle all questions and concerns from cardholders regarding transactions that appear on their card as a result of a travel arrangement processed by PanAm. This includes transactions that do not match your supporting documentation or to report unauthorized charges processed on your card such as hotel meals, movies, etc.
If unauthorized transactions appear on your P-card statement, you must:
a. Send email immediately to firstname.lastname@example.org to notify PanAm of the charge. You will receive an email from PanAm with a case number. It will appear in the email beside the word “Key”. You will need this case number to follow up with PanAm.
b. PanAm has 15 days to resolve the issue with the hotel and have the P-card credited or file a dispute with BOA on behalf of the P-cardholder. If a dispute is filed with BOA it is the P-cardholder’s responsibility to ensure all forms are filed with BOA and to follow up to ensure the dispute is resolved. If the dispute does not result in a credit to the P-card, please contact Dolores Hildebrand for further directions. It is the P-cardholder’s responsibility to follow up with PanAm and BOA to ensure resolution.
c. The traveler is responsible for ensuring unauthorized charges are not paid with the P-card by reviewing the hotel invoice at checkout and providing another form of payment for unauthorized charges. If they do not and unauthorized charges are paid by the P-card they cannot seek reimbursement for meal per Diems until it is resolved.
d. If alcohol is charged to the P-card, it must be charged to local funds.
Five weeks ago the lodging restriction was lifted on the University Purchasing Card (P-card) for transactions exclusively booked via the University's travel management firm, PanAm. Effective today, the University is suspending use of the P-card for lodging and the restriction will be reactivated. This difficult decision was made after Procurement and Supplier Diversity Services (PSDS) became aware that an unacceptable percentage of travelers had issues at hotel check-in, which placed undue stress on the traveler, increased the risk of duplicate payment, and caused the overall travel experience through PanAm to be negative for both the traveler and the traveler's arranger.
The cause of the problem is a complicated one. In short, a large percentage of hotel properties do not comply/follow Payment Card Industry (PCI) requirements. PanAm was experiencing difficulties with non-PCI compliant hotel properties accepting the University P-card; the University contractually requires all P-card data to be handled with PCI compliant methods.
PSDS hopes this is only a temporary suspension of the P-card being used for lodging. PSDS and PanAm are working on solutions to fix this problem. In the meantime:
* For local lodging reservations, only Purchase Orders (PO) or Payment Vouchers (PV) are to be used.
* For lodging reservations going forward:
-- An individual traveler should go through the reimbursement process.
-- Group lodging should use the PO process.
-- Policy allowing the first night's lodging on the P-card will be reinstated. Use the Purchasing Card Change Request form located at http://www.procurement.virginia.edu/pagepcardformlist to request first night's lodging on the P-card.
* If you have an upcoming lodging reservation already made through PanAm, contact PanAm at (888) 502-3265 or email@example.com and have your payment information transferred to a personal credit card.
If you have questions about this P-card restriction change, please contact Kevin Crabtree at firstname.lastname@example.org.
For all other inquiries contact PanAm at email@example.com or 1-888-502-3265.
The University Budget Office is hosting a fiscal administrator’s meeting pre-session on Wednesday, December 12, 2012 from 8:30 a.m. to 9:45 a.m. in the Newcomb Hall South Meeting room to provide user training for the upcoming budget development season. The session will focus on how to:
(1) access, navigate, and utilize the Budget Portal, including a review of enhancements made as a result of the summer 2012 budget portal user survey and fall 2012 usability testing,
(2) complete submission forms such as the Tuition and Fee Request, the Planned Expenditures from Selected Fund Sources, Capital Reserve Projection, and
(3) enter detailed GA and GL budgets through either automated data upload process or the manual IS Budget Development forms.
The University Budget Office will still hold 2013-14 Budget Kick-off sessions in early January that will focus more on the 2013-14 Budget Assumptions, the budget calendar, the impact of the NIFM (New Internal Financial Model), and other critical information needed for those with budget development responsibilities.
The next meeting is scheduled for Wednesday, December 12, 2012 at 10:00 AM in the South Meeting Room, Newcomb Hall.