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A Publication of the Division of Finance & Facilities

October 2019

A Message from Vice President Cate

  • As many of you know, the Division of Finance has been expanded to the Division of Finance and Facilities, which now includes the facilities (Capital Planning & Management, Custodial Services, Office of Sustainability, Physical Plant, and Transportation & Parking Services) and some of the auxiliary (Print & Mail Services and UVM Bookstore) departments previously under VP Tom Gustafson. I am pleased to be working with these teams once again, and I believe their work is well aligned with that of our finance departments.

    I want to thank the members of the former Division of Finance for all they accomplished in FY19. In addition to fulfilling our continuing responsibilities for financial stewardship and management, the Division of Finance completed a number of projects that advanced financial sustainability, efficiency, and responsiveness to the campus community. Below are a few of our FY19 accomplishments, and I invite you to view a complete list in our online FY 2019 Year-in-Review:

  • Developed a funding plan for the Multipurpose Center that was approved by the Board of Trustees
  • Maintained a stable credit rating for the University, despite the rating agencies' overall negative outlook for the higher education sector
  • Issued new bonds to fund a portion of the multipurpose center and some deferred maintenance, and refinanced 2009 bonds achieving a $17M present value savings for the University
  • Brought Rachel Denhollander and Jackson Katz, national-level speakers on violence against women and healthy masculinity, respectively, to campus
  • Began implementing PeopleSoft Lease Administration in preparation for compliance with Governmental Accounting Standards Board (GASB) Standard 87: Leases
  • Implemented Incentive-based Budgeting (IBB) model 2.0 changes

I value the good work of all of the staff of the newly constituted Division of Finance and Facilities, and we will continue our efforts to serve well the entire campus community.

Richard H. Cate, Vice President for Finance & University Treasurer

 

Updates & Announcements

Lowe's Discount Offer

Purchasing Services has negotiated with Lowe's a new 7% in-store discount for UVM purchases. Purchasers will use a key fob and their UVM PurCard at the time of purchase to receive the discount. High-volume users will be provided with a departmental fob. Fobs are also available for single use and can be signed out for a two-hour block through the Purchasing Services office or the Disbursement Center. This offer is available at both the Essex and South Burlington locations.

At checkout, scan the fob, provide to the cashier UVM's account #802-656-3131 for tax exemption, and use your PurCard to maximize UVM's purchasing power - purchases will be tax exempt, receive the 7% discount, and strengthen PurCard sales, which impacts future discounts and benefits. Contact Purchasing Services.

PeopleSoft Purcard Reallocation Process 

PurCard documentation should now be directly attached to a PeopleSoft PurCard journal. See pages 9-11 of the reallocation user guide (PDF) for instructions. ABSC customers should not change their current practice until directed by the ABSC. Email PurCard Team Lead Holly LeBlanc or purcard@uvm.edu.

Non-IT Purchasing Contracts Review Process

The new process to initiate the review of any non-IT contracts in now available through our Footprints system, allowing for increased efficiency and transparency. Non-IT contracts include service agreements, quotes, estimates, proposals, terms and condition documents, etc. See the user guide (PDF) for instructions. (Note that IT-contract reviews continue to be initiated by departments through Technology Review.)

Reminders 

UVM Costco Card

The University's Costco Card is available to use for UVM-specific purchases. Sign up and use it to take advantage of UVM's tax exemption status. Contact the Disbursement Center.

Immediate family members working in the same department

Department chairs may not approve expense reports or PurCard journals for any immediate family members working in the same department. See the Conflict of Interest & Conflict of Commitment Policy (PDF).

Traveling abroad

  • A PeopleSoft travel authorization is required prior to any travel abroad. This provides a tool to determine who is abroad in the event of a natural disaster, and allows UVM to perform its duty of care. Risk Management has various tools to assist in foreign travel.
  • Pre-pay as much as possible. Contact the Disbursement Center to issue foreign currency wires (in US or international currency), or foreign currency checks (drawn on an in-country bank).
  • When planning international travel, especially when students are included, it is recommended to use a travel agency, which can then assist with travel issues such as delays, cancelations, etc.

US Bank Payment Plus for Supplier Payments

Over 100 UVM suppliers have enrolled in US Bank's Payment Plus (PDF). This automated Visa card payment program provides benefits to the supplier, including accelerating payment, improved cash flow, and streamlined accounts receivable process. 

The Disbursement Center location

The Disbursement Center is no longer located at Roosevelt Highway, Colchester. We are located at 23 Mansfield Street. Accounts Payable, PurCard, and Travel and Expense offices. Contact the Disbursement Center with questions.

Vacation time during fiscal year end

Please keep in mind the fiscal year-end schedule when planning time away from campus. Deadlines are hard set and exceptions are not allowed for extensions. Thank you!

Please Use Most Current Forms

Division of Finance forms are updated continuously/as needed. To ensure you are using the most current version of our forms, please access them through the DF Forms page, or through the Forms sections on our services pages. If you saved and reuse forms, please update them on a regular basis. All forms will include a "last updated date" in the footers.

News from Campus Partners

Delaware Cost Study - Alex Yin, Director of Institutional Research

The Office of Institutional Research is the source of the University’s official enrollment, faculty and staff census, student, and course/curricular data. The Delaware Cost Study is a discipline-level comparative analysis of faculty teaching loads and direct instructional costs. It is a critical planning resource as we look to better understand our instructional costs at the University.

Finance Policy & Procedure Updates

Anticipated for Fall UBA review &/or campus comment period

  • ‚ÄčTravel Policy
  • Approval of and Signatory Authority for Revenue-generating Contracts UOP (new)

Recently revised

Finance-related Professional Development Opportunities

  • Upcoming classes (register through PeopleSoft HR)
    • Chart of Accounts - 10/21
    • How Do I Make this Purchase - 10/23
    • What is Accounts Receivable - 10/28
    • PeopleSoft Financial Reporting - Part 1 - 10/28
    • Advanced Travel - 10/30
    • Researching Payables & Invoices - 11/1
    • PeopleSoft Financial Reporting - Part 2 -11/11
    • Axiom Financial Reports - 11/12
  • UFS Roadshow (PDF) - by request

FY20 BFAN Meeting Schedule

All meetings are held in Memorial Lounge, Waterman 338, 1:00 p.m. Meetings run from 1 - 1.5 hours depending on the agenda

  • 10/9/19 at 1:00 p.m.
  • 11/20/19 at 1:00 p.m.
  • 2/5/20 at 1:00 p.m.
  • 3/25/20 at 1:00 p.m.

DF Staffing News

Welcome! to:

  • OVPF Administrative Assistant Claire Robinson-White
  • Payroll Co-Lead Julia Vafias
  • Payroll Specialist Michael Niemann
  • Purchasing Services' IT/ADA Contract Analyst James Evans
  • University Budget Director Shari Berguist (10/14/19)

Congratulations! to:

  • ABSC's Kelley Ficklin, on her promotion to Lead BSG
  • Payroll & Tax Services' Cara Dunn on her promotion to Payroll Co-Lead

Farewell to:

  • Alberto Citarella, former University Budget Director
  • Alexx Spannaus, former OVPF Administrative Assistant
  • Sarah Griffin, former Assistant Payroll Manager
  • Lynne LaBonte, former Payroll Specialist
  • Kristin Bahn, former FAB Sr Analyst
  • Emily Stebbins-Wheelock, former OOE Director