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Monthly Archive for September, 2015

September 2015

1. Welcome Back – Highlights from Previous Newsletters
2. Copier Lease Charges
3. Procurement Reminder – IMPORTANT REMINDER – Federal Grants Only
4. Fiscal 2016 Travel Expense Form
5. Purchasing News
6. Wes Station Charges
7. Budget Reminders
8. Financial Planning – New staff

1.WELCOME BACK – Highlights from Previous Newsletters
A new year is under way. The Finance Monthly newsletter is an archive of Finance information. The following are links to topics previously communicated that you might find useful. In addition, you can always utilize the search feature on the right side of the blog page.
•Reoccurring Budget vs. Actual Reports – See #2 here
•Managing Travel Receipts – See #2 here
•Payment processing for foreign visitors – See #5 here

2. COPIER LEASE CHARGES
Several departments have received new color copiers and may be anticipating an additional lease payment. These additional lease payments will begin on October 1, 2015. From July 1, 2015 through September 30, 2015, copier lease charges for departments that are normally charged via journal will be the same as historical rates. Please contact Sherri Condon at x2437 with any questions.

3. PROCUREMENT POLICY – IMPORTANT REMINDER – Federal Grants Only
This is a reminder for anyone working with Federal grants that the federal procurement policy must be adhered to.
See http://www.wesleyan.edu/finance/grants/federal_purchasing.html
If the procedures outlined in the policy are not followed, the grants accounting office has the authority to deny payment. There have been a few instances where invoices being charged to Federal funds for procurement of goods and services have been denied.
Important points to note are:
The policy affects purchases greater than $3,000. For these purchases you MUST:
• Complete a purchase order and wait for approval PRIOR TO PURCHASING the item. Timing and documentation are everything.
• Include either 3 quotes in writing as an attachment to the PO with justification as to why your vendor was selected or attach the Sole Source Justification Form for approval.
• Contact Olga Bookas if the purchase will exceed $150,000 and must go to competitive bidding.
If you have any questions regarding the policy, please contact either Rose Pandolfo at x 2870 or Kim Savinelli at x 3683.

4. FISCAL 2016 TRAVEL EXPENSE FORM
In response to user feedback, we have added a tab at the bottom of the Travel Expense Report for a 10 day version of the report. In addition, we have added a line for traveler signature. However, it is important to note that this is only required if approval is not otherwise documented in the WFS submission and approval process, email, directly on the receipts or some other means. Most approvals should be electronic but this signature line can be used for those outside of WFS such as students and speakers.

5. PURCHASING NEWS
Olga Bookas from Purchasing will be “out of the office” from September 1 thru October 13, 2015. In her absence, she has prepared a list with important vendors you might want to contact directly. She will have very limited access to email and no phone coverage. Please email Sherri Condon for any requests to add names for WB Mason and Dupli; copier billings; PO or WFS questions; Employee relocations. Sherri’s number is 860 685-2437 or email:
scondon@wesleyan.edu.

Please see attached information on Wesleyan vendors.

6. WES STATION CHARGES
Due to a new system interface, the Wes Station charges posted at the end of August included both July and August Charges.

7. BUDGET REMINDERS
It is not too early to be looking at financial reports and reviewing the status of your budget. Assuming consistent spending throughout the year, budgets should be about 17% expended.

8. FINANCIAL PLANNING STAFFING
The Financial Planning Office is pleased to welcome two new staff members. Prashanie Silva is joining as a Senior Budget Analyst effective September 3 and Jayana Mitchell is joining as Budget Analyst effective September 7. Prashanie can be reached at x3153 or psilva@wesleyan.edu and Jayana can be reached at x3954 or jmitchell01@wesleyan.edu