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CFO Roundtable. April 12, 2012. Mike McKee Assistant Vice President and University Controller. Welcome & Introductions. Linda Orfield, Associate Controller Payroll & Tax Services. HR/PR Upgrade Status. Ruth Harris Associate Controller University Financial Services.
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CFO Roundtable April 12, 2012
Mike McKee Assistant Vice President and University Controller Welcome & Introductions
Ruth HarrisAssociate ControllerUniversity Financial Services
Student Accounts Receivable User Group Student A/R Write Off
Brenda Harrell,Accounting CoordinatorCost Analysis & Construction Accounting
Space Allocation Survey Released for Input on Monday, April 9th Interviews Complete with space occupants by Friday, May 4th Input Complete by Departments by Friday, June 1st, 2012 Authorization by DDD’s by Friday, June 30th, 2012
Space Allocation Survey • Please pay attention to the definitions of the following categories: • Other Institutional Activities (OIA) • Use this category to report space used for all activities that are not specifically assigned to other categories. For example: department break rooms, department kitchens, emeritus used space (non-UF paid), volunteer space, etc. • Auxiliary • Residence halls, dining halls, service centers, recharge centers, theaters, public museums, housing, bookstores, etc.
Effort Certification New Reports Available to help with the Effort Process.
Effort Certification • Fall 2011 Term Deadlines • Department Effort Coordinators Submitted for Certification by Friday, April 13th • Faculty, PI’s and Employees Certified by Friday, May 4th
Purchasing Helpdesk 392-1335 • Address conversion to street addresses (e911) • Sustainable Products Trade Show • Weds 4/18 from 10 – 2pm at Reitz Union • Pcard • Approval time frames • Sort/Grid Issue – Nigel Chong-You, Enterprise Systems
E-Pay Through Bank of America The University of Florida has implemented a new vendor payment process in partnership with the Bank of America. The arrangement is anticipated to save the University resources by eliminating the production of checks (estimated at $22-31k/year), generates revenue for the University through incentive payments (estimated at $761k-1.1m/year), and gets the payment to the vendor in a faster and more reliable manner. Current Statistics: Vendors Currently Enrolled: 192 Number of Vendors Paid: 101First Weekly e-Pay submission: $ 8,512.79 March 30, 2012 e-Pay submission: $ 275,533.47 Total Paid January – March 2011: $2,061,660.50 In these times of diminishing resources, we would ask you to encourage your vendors to contact us in Disbursements Services so we can get them set up to receive payments through e-Pay. It is a win for everyone. We will be posting a listing of participating vendors on the Disbursements Services website so you can determine if your vendor is currently set up to participate.
Property Inventory • Effective July 1, 2011, the capitalization threshold for tangible personal property increased from $1,000 to $5,000. • Effect: Inventory Items at June 30, 2011 109,731 Current Inventory Count 23,656 • Current Inventory Status: Missing Items 463 • Current University practice is that all inventory items will be located
University established a procedure, 4.16 – Safeguarding Attractive and Sensitive Property, to identify what inventory is constituted attractive and to provide guidance on custodians’ responsibilities. • Attractive Items: Attractive/sensitive assets are tangible personal property that cost less than $5,000 and can be characterized as "walk away" items. These items are prone to theft because they are either not secured, are easily portable, contain new technology and/or they are adaptable for personal use. • Examples of Attractive & Sensitive items: • Audiovisual equipment • Televisions • Projectors • Communication Equipment • Cellular Phones • Data Processing Equipment • Laptops • Computer peripherals • Scanners • Cameras • Digital Cameras • Lab equipment • MyAssets is a tool that the University has developed for many purposes associated with managing University property. One of the functions is to assist University personnel in tracking attractive items. • Number of items valued less than $5,000 in MyAssets: 33,922 • Number of University departments with items in MyAssets: 285 • A unique tag number may be obtained for the item by initiating a request in MyAssets. Tags must be placed on the equipment by the department.
Suzanne Sindledecker, Assistant ControllerTreasury Management
AR Write-Off deadline Friday, April 13 • Research Participant Payment project • Status of the project • Emails will be going out to interested individuals and groups • Updating you on our progress • Asking for input • Looking for testers
Questions Suzanne K Sindledecker Assistant Controller Treasury Management ssindle@ufl.edu 273-0493
Annual Financial Report 2012 Year End Closing Material and Supply Fee Fund KK Rule set Change
Annual Financial Report Annual Financial Report for FY 2011 published http://fa.ufl.edu/
Year End • Year End Closing Friday, July 13th • Detail schedule will be available on General Accounting website in early May • Year End Workshop • May 17th G001 McCarty Hall D 3-4:30pm
KK Rule Set change for Fund 162AKA: Material and Supply Fees Effective July 1, 2012 fund 162 will require Dept Flex on all transactions Enable controlling available balances at course level More efficient and accurate reporting of revenues expenses, balances at course level Working with departments and core offices to ensure a smooth transition
Mike McKeeAssistant Vice President and University ControllerFinance & Accounting
Evaluation of Centralized Invoicing Process • GBAS Update • Proposed Fringe Benefit Pool Rates • Audit Update
Our operational audit disclosed the following: EXPENSES AND DISBURSEMENTS Finding No. 1: The University needed to improve its controls over electronic payments to vendors. Finding No. 2: The University’s monitoring of healthcare claim payments needed improvement. PERSONNEL AND PAYROLL Finding No. 3: The University’s procedures for documenting and monitoring alternate work location agreements needed improvement. Finding No. 4: The University’s monitoring of sabbatical and professional development leave needed improvement. STUDENT TUITION AND FEES Finding No. 5: Costs for distance learning courses were not always accurately shown in the Florida Higher Education Distance Learning Catalog. CONFIDENTIAL INFORMATION Finding No. 6: The University did not always provide the required written notification to individuals when their social security numbers were collected, contrary to Section 119.071(5)(a), Florida Statutes. INFORMATION TECHNOLOGY Finding No. 7: The University needed to establish an adequate alternate information technology (IT) processing facility. Finding No. 8: The University’s IT security controls related to logging and monitoring of system events needed improvement.
