April 2017

1. 2017/18 Benefit Rate
2. Year End
3. Reunion and Commencement Student Workers
4. Finance Office Staff – Welcome Melanie Messier
5. Budget Reminders
6. Sustainability Updates
7. Purchasing News

1. 2017/18 BENEFIT RATE
The budgeted full benefit rate for 2017/18 will be 37.0%. The breakdown of the rate will be:
22.0% Medical, dental and other
7.35% Retirement
7.65% FICA
Unrestricted operating and restricted gift and endowment smartkeys will be charged the percentages above. Grant and agency smartkeys will be charged actual medical, dental and other charges rather than the budgeted rate of 22.0%. Please note that the percentages above represent budgeted amounts only. Actual amounts contributed to retirement will vary based on eligibility and participation in the retirement matching program and actual amounts contributed to FICA will vary based on salary. Any variances between budgeted rates and actual rates will be managed centrally.

It is not too early to begin thinking about year end. The year end schedule will be distributed and posted on the Finance website this month and we will be hosting Year End Seminars in May and June. Stay tuned for additional information. The following items are things you can begin thinking about now:

PCards – all departments should be up-to-date on PCard reconciliations through the billing cycle ending February 2017. If you have not fully reconciled, please access your PCard vouchers in WFS and complete as soon as possible to allow sufficient time for approvals.
Budget Status – Request that any old PO’s, vouchers and/or journals be closed or deleted. Note that grant PO’s carry forward to the next fiscal year so no action is necessary.
Prepaid Expenses – If you have a voucher that pertains to the next fiscal year, please ad hoc Susan Pavis into Workflow after AP.
Travel Expense Reports – get them in as soon as possible for completed trips.
Necessary expenditures through June – be sure you are not headed over budget.
Workflow backlog – All documents will need to by processed by year end.

Departments hiring students to work Reunion and Commencement need to check with payroll to verify that the student has all the payroll paperwork on file and is eligible to work. Please contact payroll@wesleyan.edu.

Please welcome Melanie Messier, who has joined the Finance Office staff as Manager of Financial Reporting. Her office is located at 287 High Street and she can be reached at x2859 or mmessier@wesleyan.edu.

Please be sure to check your financial reports so that you are on track in your budgets. Assuming consistent spending throughout the year, budgets should be 75% expended.

Wesleyan’s Earth Month starts April 1. For a list of events, visit http://wesleyan.edu/sustainability/engagement/earth-month.html.

Is your office interested in reducing waste? The Wesleyan Green Team, Facilities, and Sustainability Office are teaming up to find offices willing to have their deskside trash cans removed in favor of “mini-bins” and central trash collection. Mini-bins have reduced waste significantly at other schools. Join Communications and the CFA, that have just gone trash can-free! A printable campus recycling/trash handout is here.

Attached please find information on year end furniture purchases, WB Mason Keurig Grounds to Growth program, water bottle and t-shirt bulk purchases and The Inn at Middletown

In the attached T-shirt Excel file please add your department name on the tabs that are blank with the information requested along with quantity, specific sizes, logo, color, etc. If you are interested in the bulk t-shirt purchase, please let Olga Bookas know as soon as possible.

The first tab is only for Purchasing Total Quantity ordered and leave that for Olga to update.

• Size does matter, s-xl are one price and every X after that changes the price slightly.
• The price will be different depending on a two color logo printed at one location any additional colors or locations will be an additional charge.
• The different shirt color will be the same price.
• If there are different logos, and different part numbers/products, that will affect the pricing.
• Approximate cost: MC1040 at $6 each and RN93846 at $3 each.