FISCAL ADMINISTRATORS MEETING November 19, 2008 Please note: Meetings are scheduled from 10:00AM - Noon. Please plan to attend the entire meeting. Opening Comments – Steve Kimata We have been receiving quite a few questions on Capital Assets, Fixed Assets expenditure types. It is critical to use the correct expenditure type, they effect reporting and F&A charges. Note: The correct use of all expenditure types is critical. We plan to have a session on these in the near future. BC Worsley recently sent out credit card corrective action plans for those of you who accept credit cards through websites or terminals. She needs them back quickly, call her at 4-4362 with questions. Financial Reporting & Analysis – Dave Boling Endowment Administrative Fee – a fee of 0.5% (of June 30, 2008 market value) will be applied to all endowments, as approved by the Board of Visitors at its June, 2008 meeting. This fee will be applied in December. (In future years, it will be applied earlier in the fiscal year). It will generate about $15.8 million for the University. Half of it will go into a central administration pot, with the money being used to support University initiatives. The other half will be returned to schools/units as unrestricted funds, and used to support initiatives within the schools. Projects and awards will be set up to hold these funds. The awards will use an EF prefix (for endowment fee). Office of Process Simplification – Lea Moore and Nannette Keenan Gave overview of their office. Please see website for details at http://www.virginia.edu/processsimplification/ Report to Colette Sheehy (VP for Management and Budget) Process Simplification projects typically align with cross-functional, institutional priorities fostering collaborative partnerships and addressing University-wide initiatives If you recognize a process in place at the University that you believe could be improved, do not hesitate to call them Gift Accounting – Steve Farish Calendar Year-end Gift Processing Information: Friday, January 9, 2009 (NOON) – Last day to deliver gift checks to Gift Accounting (Piedmont Centre – 2405 Ivy Road) Wednesday, December 24, 2008 – Gift Accounting Office will be closed for the holiday Thursday, December 25, 2008 – Gift Accounting Office will be closed for the holiday Friday, December 26, 2008 – Gift Accounting Office will be closed for the holiday Wednesday, December 31, 2008 – Gift Accounting Office will be OPEN Thursday, January 1, 2009 – Gift Accounting Office will be closed for the holiday Friday, January 2, 2009 – Gift Accounting Office will be closed for the holiday Gift Delivery Address:
Audit Department – Carolyn Fulk Reminder – Don’t use University resources for personal advancement…such as email, messenger mail, phone internet, etc. ISDS Announcements – Shy Hicks Finally Closing PO’s We’re making good progress on these – we’ve finally closed around 138,000 PO’s and have about another 100,000 to go. Our goal is to be finished by the end of December. We are finding that a few people have closed a Procurement Services buyer’s PO by mistake. This is a problem because the Procurement Services buyer may still be using the PO even though the department thinks it is no longer needed. So please look carefully at the buyer and if it is someone in Procurement Services, do NOT finally close it. Instead, go to the Procurement Services website and use the PO Change Request form to request that the PO be finally closed. When we find that a Procurement Services buyer PO has been finally closed, we are emailing the person so that they understand the importance of closing only PO’s created within their organization. So far we’ve had no repeat offenders.Procurement Services Terry Butler 10 vendors are live with electronic invoicing…getting ready to bring up next 10 -15. Have produced 33,000 so far, they stay out there for 45 days Travel Policies – looking at the Electronic Travel Voucher in Oracle, will be 1 form instead of 2…no timeframe yet, as to when it will be implemented. John McHugh The contracts webpage will change – easier to search, will be able to search at a higher level, by categories. This will be done by the 1st of the year. We will send out an email letting you know. There are 73 catalogs now (24 punchout), started the Marketplace with 47 “Take it Away” is now a hosted vendor January – a popular vendor coming (surprise) Reminder – UVA is exempt from all communication sales tax, including land lines and cell phones. We send them our tax exempt form. Be aware that Procurement will short pay the balance if they do charge tax. We are trying to get refunds from the last three years. Verizon is making some credits for this. Eric Denby We have seen so much change lately, it has been tough on you and us, but things are better Reminder – Enterprise Rent A Car should be giving you rental cars with a full tank of gas, let us know if they are not. Prepayments can only be made if approved by Eric or John – a department lost $30,000 from a vendor that went out of business. John submitted an e-purhasing process to SACUBO – It is one of 5 finalists. Bill Cooper Thanked everyone for supporting Minority vendors. Stated that Supply and Diversity is becoming a part of what we do. 50% of our business in now with small, women and minority vendors The next meeting will be on Wednesday, December 17, 2008 at 10:00 in the South Meeting Room, Newcomb Hall. |
E-mail comments to: Comptroller@Virginia.edu |