Richard H. CateMay 2018

A Message from Vice President Cate

As this message comes during the height of budgeting season, soon to be followed by fiscal year-end, I want to thank you all for your work in ensuring the sound financial management of the University. I sincerely appreciate your efforts in balancing budgets, supporting effective internal controls, accounting for our myriad financial transactions, contributing to the University’s strong credit rating, and helping us to pursue strategies that result in significant savings to the University’s bottom line.

I hope you can take a few breaks from the books to enjoy the wonderful but all too short season called “summer in Vermont.”

Richard H. Cate, VP for Finance

Projects & Initiatives

Division of Finance Website Transition

  • One of the new end-user tools on the Division of Finance website is a Dates & Deadlines page. We are excited to introduce links to view or subscribe in Outlook to four separate finance-related calendars:
    • Budget dates: general fund and income-expense budgeting deadlines, schedules, etc.
    • General accounting: accounting period closures, reminders, invoice run schedules, etc. (coming soon)
    • Payroll: payroll deadlines and schedule
    • Other finance dates: BFAN meetings, office hour changes, other Division of Finance-sponsored events
       
  • We have begun to convert our existing unit pages to new "services" pages on the Division of Finance Drupal site. New web pages for Tax, Payroll, and Treasury services are now available. You can access these new pages through the Finance home page, the "Our Services" main menu item, or through the Controller’s website (links will redirect you to new pages). Contact: Cindy Lee

Updates & Announcements 

University Financial Services Reorganization

The two functional services in the former Tax & Treasury Services department have been reorganized:

  • ​The vacant Assistant Controller for Tax & Treasury will not be filled.
  • A new Treasury Services department is now headed up by Bonnie Cormier in her new role as Director of Treasury Services. Contact treasury@uvm.edu.
  • Tax administration is now under Payroll and Tax Services (formerly Payroll Services), led by Penny Cayia, Director of Payroll & Tax Services. Contact payroll@uvm.edu or taxadmin@uvm.edu
  • In addition, we are hiring a tax manager who will be responsible for the tax administration function and will report directly to Penny. Paul Sebastiano, Business/Accounting Specialist for tax, has joined the Payroll and Tax Services team and will work under the direction of the Tax Manager.
  • The Division of Finance org chart now reflects these changes.

Disbursement Center New Location

The Disbursement Center is coming back to campus! Currently renting offices in Colchester, the Travel & Expense, Accounts Payable, and PurCard teams will be on campus at 23 Mansfield Avenue, Burlington, VT 05401 as of June 6, 2018.

Other updates

  • The Relocation University Operating Procedure (UOP) has been revised to reflect changes to the federal tax law.
  • The mileage reimbursement rate will go up on July 1, 2018, to $0.545 from $0.535. Use this rate for travel on or after July 1, 2018.

FY18 year-end schedule

  • Budget managers and key personnel have received communications related to year-end tasks and deadlines beginning in late May through the end of July, including a link to the updated Year-end User Guide, and schedule of deadlines for FY18. Further communications and deadline information will be sent to BFAN and CATskill listservs and posted on our FY18 Year-End Closing siteContact Lindsey Donovan.
  • As we move toward the end of the fiscal year, FY17 prepaid transactions (PurCard charges and payables invoices) must be transferred to FY18. The Prepaid Transactions User Guide details this process and describes which transactions need to be on prepaid accounts for the new fiscal year (FY19), how to find prior fiscal year (FY 17) prepaid transactions, and how to make those corrections.

Finance Policy & Procedure Updates

Approved this spring:

Anticipated for fall UBA review & campus comment period

  • Business Meal, Hospitality & Amenity
  • Travel

See all University policies

FY19 BFAN Schedule

TBD

Finance-related Professional Development Opportunities

DF Staffing News

  • Welcome! to Treasury Management Professional Jennie Keenan, Payroll Support Specialist Lani Isabelle, and Travel & Expense Specialist Kyle Wentzel
  • Congratulations! to Reiko Choiniere, who will be Cost Accounting Services' new Cost Accountant, Bonnie Cormier, who has been promoted to Treasury Services Director, and Penny Cayia, who has been promoted to Payroll & Tax Services Director
  • Farewell to ABSC Business Analyst Yuliya Cruz who is moving to the Grossman School of Business, and Kristy Perry who is moving to ETS Enterprise Application Services

DF Employment Opportunities as of 5/31/18

  • Administrative Business Service Center Business Analyst (Administrative Professional)