Carleton College

1. Carleton College A Faculty & Staff Guide to the Business Office – FY2012

2. Agenda • What’s New for FY2012 • Staff Changes • Promoting Purchasing Cards • Promoting ACH • Reducing Petty Cash • Improving Reporting • New Student Employment Forms to HR • Sharing Departmental Best Practices • Questions/Comments/Concerns • Thinking About the Future

4. Why Purchasing Cards

5. Why ACH Payments

6. Why Eliminate Dept Petty Cash • Reduce administrative assistant responsibilities • Improve timeliness of departmental budget reporting • Improve institutional compliance • Reduce risk of theft Temporary (event specific) requests continue (i.e. PEAR)

7. Why Reporting? • Increase transparency • Improve access (new security roles) • More informative – “What I need to know” • Tell us what you like and dislike • What’s on your wish list? • Julie Latham, ITS

8. Why New Student Employee Forms to HR • Create common new employee experience • Address audit requirement to segregate duties • Increase proximity to SFS (positions)/HR (forms) • Enhance student employee training and relationships

9. Best Practices (from your peers) Purchasing Cards • Print and deliver statements to faculty 1st of the month with due date. • Faculty checklist to keep track of those on OCS or not on schedule. • Review all charges for completeness • Account numbers (PDA vs. Dept travel) • Receipts really matter • IRS documentation requirements (business purpose; attending) • Discuss concerns with Dept Chair or Business Office • Send complete package to Business Office BENEFIT: Happy Faculty with NO AUDIT EXCEPTIONS to resolve with the Business Office.

10. Best Practices (from your peers) Payment Requests • Complete – account numbers; business purpose; IRS required documentation. • Authorized - signatures; beware large $ transactions. • Accurate – after service is rendered. • Send regularly; don’t hold until Tuesday noon BENEFIT: Timely and accurate payments with no follow-up questions from the Business Office to request additional information.

11. Best Practices New Vendor Set-up • SKIP THIS IF YOU ARE USING A PURCHASING CARD • W-9 • ACH Payment Authorization BENEFIT: Touch the transaction once.

12. Other Best Practices – FAQ’s • Avoid Gift Cards – alternate with inexpensive tangible item • Avoid ITS Equipment/PEPS Equipment/Software – redirect to ITS/PEPS • Minimize prizes – IRS tax reporting obligations apply • Payment requests should be submitted after services have been rendered • Be aware of Independent Contractor checklist – contact HR if you need assistance • Be aware of special requirements for doing business with non-resident aliens – contact Shari Mayer if you need assistance • Be aware that grant management has special requirements – contact Susan Benson if you need assistance • Be aware of special requirements for doing business with entertainers – MN Entertainer Tax may apply

13. Thinking about the Future • Consolidate Student and Bi-weekly Payroll; • Advantages: • Reduce payroll from five times per month to three times per month. Two supervisor approval processes vs. four supervisor approval processes. • Increase consistency, reduce confusion. • Supervisor review extended to Tuesday, noon for pay period ending Saturday.

14. Our Gratitude • 450 card holders • 1,000 payment requests per month • 1,300 students on payroll We could not do this without you!

15. Questions/Comments/Concerns • Open Door • Visit the Business Office – Leighton Hall • Call or E-mail • Linda Thornton • X4171 • lthornto@carleton.edu • Visit the Business Office Web Site • Keep the Faculty and Staff Guide to the Business Office in a handy location; share it with your department • Attend HR Professional Development Events