When shipping a product into campus, consider using your department’s Federal Express account instead of using the vendors shipping—why?  Sometimes the UF rates on FedEx are less expensive than the vendor’s.

 

 

Cost Saving Idea

University of Florida Finance and Accounting
In Balance

August 2008 Newsletter

Chartfield ToolKit

The General Accounting Department and Training and Organizational Development are pleased to announce a new myUFL toolkit that focuses on the understanding and use of ChartFields.  Business officers and fiscal personnel across campus provided input and suggestions for the toolkit, which includes a web tutorial, simulations, instruction guides, FAQs, links to helpful resources, and much more!  Please visit the toolkit and feel free to use the “Toolkit Feeback” link on the left to provide input.

PRO 3 Certification

Have you earned your PRO3 Fiscal Certification or HR/Payroll Management Certification?  The series train departmental administrators at the University of Florida to learn key information and develop skills they need to be successful.  More Details

 

 

Backup Documents Imaged for Assets

In July, 2007, Asset Management began imaging all back-up documentation related to tangible personal property.  This includes documentation such as Report of Transfers, Report of Surveys, Surplus Property Pick-up Requests and Property Update documentation.  To view these images, your Department Security Administrator (DSA) will need to request the UF_N_AM_IMAGING_VIEW role.  Once your security has been processed, you can view the Asset Management images by way of the following navigation from your myUFL:  Quick Links>Admin Menu>View Asset Management Images.

 

Has Your Department Been Visited?

Have you scheduled a departmental visit from the Finance and Accounting Team?  We will customize a team to fit your needs and time frame.  Topics can include deposits, general accounting, reporting, purchasing, travel, payables, tax services, payroll, or asset management.  Contact us today to schedule a visit.

Notice to All UF Property Custodians   (previously known as Accountable Officers)

Question or comments regarding this newsletter, contact bbh@ufl.edu or call 352-392-1321, x627.

A new on-line training tool has been developed and specifically designed for UF Property Custodians.  This training tool only takes twenty minutes to watch and can be viewed at any time of the day.  Each Property Custodian is required to watch this presentation.  Click here to obtain access to this presentation.

 

Inventory of Tangible Property

The University requires that a complete inventory of tangible property be conducted each fiscal year.  The University has set the inventory period to begin July 1st and end March 31st.  Each department has been assigned a Property Contact who is responsible for completing their department’s inventory.  The Property Contact relies on each employee to properly care and safeguard the equipment in their possession.  When each employee fulfills their duty, the inventory process will go a lot smoother.  Therefore Asset Management would like to share with you some things that should be done to care and safeguard UF owned equipment:

¨ Promptly notify Department Contacts when equipment has been relocated to another room, when it has been cannibalized, or when it is no longer needed.

¨ Promptly notify Department Contacts when equipment has been traded-in for new equipment or the equipment has been sent back to the vendor.

¨ Promptly notify Department Contacts and local authorities when equipment has been stolen.

¨ Do not store equipment in hallways due to the fact that it can be prone to theft.

¨ Always keep doors to offices locked when not in use.  (This will help prevent sensitive data from being compromised and the equipment from being stolen).

¨ Store equipment in environmentally suitable locations to prevent corrosion, contamination, and damage of sensitive parts

¨ Notify Department Contacts when equipment will be take off campus and when equipment is to be exported (whether carried or shipped) outside the U.S.

¨ Be aware of individuals who enter areas without a University business purpose.

Bid and Quote Limits Raised

On June 13, 2008, University Regulation 6C1-3.020 was modified to change the University’s formal public solicitation dollar limit.  The University regulation and policy on bid and quote levels is as follows:

¨ $75,000 +    Formal Sealed Bid Process such as Invitation to Bid, Request for Proposal, or Invitation to Negotiate (or approved exemption).

¨ $25,000 - $74,999    Written quotations from two or more vendors or written justification why quotations were not obtained.

¨ $5,000 - $25,000   Documented quotations from two or more vendors by telephone, fax, email, or justification why not obtained.

Good business practices, federal regulations governing research, and University directives and procedures require evidence of competition whenever practicable.  We encourage the use of small, disadvantaged, or minority businesses in the quoting process.

The above requirements are not applicable when purchasing from competitively bid contracts by the State, University, or other governmental agencies, other public or private universities, educational cooperatives, and educational consortiums.  However, in many instances, there are multiple awards, and we encourage you to seek competitions from contract vendors.

For more information contact Purchasing.

AVIS Rent-A-Car New Program

AVIS Rent-A-Car has a new program in the State of Florida for Florida toll roads.  If traveling a Florida toll road in a rented AVIS vehicle, you now have access to the use of SunPass toll lanes (you do not have to stop to pay tolls).  If you travel through the SunPass lane without a SunPass transponder in an AVIS vehicle, a picture of the license plate is taken and the toll charge is billed by SunPass using the credit information provided for the rental of the vehicle. 

If you have a personal or UF-owned transponder and drive through the SunPass lane in an AVIS vehicle, the system will read the transponder and no picture of the license plate it taken.  You will not be billed twice for the same toll charge.  There is nothing needed to shield transponders located in an AVIS vehicle.

It will take approximately 2 weeks for the toll charges to show up which could potentially delay expense report processing.  AVIS provides a platepass website where charges can be verified and used as backup documentation.

This is a service provided by AVIS that is not a UF Directive.  This is simply to inform you about this service so that you will not be surprised by potential toll charges after you have already reimbursed a traveler.  If you do not want to use this service, inform your departmental travelers to only use pay toll lanes.

Budget Error Reminder

We want to remind you to check your Cost Center’s Accounts Payable Budget Errors on a daily basis.  One way to do that is to run the query UF_AP_BUDGET_ERROR for your department.  There are many errors that currently need to be addressed so we can pay the vendors.  We encourage you to check your available balance before inputting a voucher request or approving a Pcard charge.  If you don’t have budget available, the payment is delayed.  Please contact Disbursements if you have any questions.

 

Financial Reporting is Electronic for Fiscal Year 2008

The Financial Reporting Department of Finance and Accounting is changing from paper fund workbooks to excel spreadsheets for the documentation of balances and adjustments for the production of the Annual Financial Report of the University and its Component Units.  In past years, Financial Reporting has used 69 three-ring notebooks averaging 120 pages for documentation, but since the Implementation of PeopleSoft, most of the data is available electronically and any hard copy can be converted easily.  Not only will this change save paper, in printing and preparer’s time, but it will make it easier to transfer information to the Auditor General during the annual audit.  Financial Reporting was thankful for the help and suggestions of the preparers provided during the special electronic preparation workshop.

 

Addvendor Goes Green

To help with UF’s effort to Go Green, Addvendor will no longer use a fax machine.  All correspondence can be sent to addvendor@ufl.edu or faxed to 352-392-0081.  This number is hooked to a hub system that allows us to move all of the information electronically without printing paper and wear and tear on the fax machine.  All forms have been updated and the old fax line has been disconnected.  If you have any questions please, contact Disbursements at 392-1241.

Announcing the New Departmental Reconciliation Best Practice Manual

Finance and Accounting is proud to announce the creation of the Departmental Reconciliation Best Practice Manual.  A special thank you to Frank Ward from the Vice President of Research Office, Tracey Phillips from the College of Health and Human Performance, Susan Morris from the Office of the Vice President and Chief Financial Officer, Ted Griswold from Financial Reporting, Gloria Sheffield from Operational Controls and Efficiencies , and Brenda Harrell from Operational Controls and Efficiencies for all of their time and efforts towards the development of this manual.