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Monthly Archive for March, 2020

March 2020

1. Budget Transfers in WFS
2. Workforce Time
3. Catering Charges
4. Year End – Prepaids
5. Financial Services has a New Name!

1. BUDGET TRANSFERS IN WFS
The deadline for original budget transfers is Monday, March 16. It is important that we freeze the 2020 original budgets for 2021 budget planning. Adjustment budget transfers will still be allowed in the last quarter of the fiscal year, but there should be very little budget transfer activity from this point forward. As a reminder, budget transfer training materials can be found on the Finance website at http://www.wesleyan.edu/finance/traininglist.html. If you have any questions, please email financialplanning@wesleyan.edu.

2. WORKFORCE TIME
As a follow up to the announcement regarding the University’s new time and leave system, Workforce Time, we have provided a Frequently Asked Questions document available here that will be updated as necessary.

3. CATERING CHARGES
All internal catering charges are now being processed with a journal ID that begins with the prefix DIN.

4. YEAR END
It is not too early to begin thinking about the end of the fiscal year. We are already beginning to see some prepaid expenses (expenses that are paid in this fiscal year but the activity or travel does not happen until after July 1). If you have a voucher that needs to be paid now, but pertains to the next fiscal year, please include the prepaid account code on the voucher (13705) as well as the correct expense account code as a positive and negative amount on the voucher.

Be sure to watch your emails for year end seminars that the Finance Office will host in May and June. For now, the most important thing to keep in mind is to be sure that budgets are on target and if someone is paying for activity or travel (airfare, conference fees etc.) that will not take place until after June 30, contact Melanie Messier at x2859.

5. FINANCIAL SERVICES HAS A NEW NAME!
The Financial Services Office has restructured to become the Controller’s Office. In conjunction with this change, Valerie Nye’s title will change from Director of Financial Services to Controller. Kimberly Savinelli and Melanie Messier will both become Associate Controllers. This change will serve to better align responsibilities in a way that creates cohesiveness among the various processes and aligns the office with peer institutions and other industries. The office will continue to oversee the University’s day-to-day financial operations including payroll, accounts payable, procurement, financial reporting, accounting, tax, treasury management, student accounts, grant administration, and management of restricted funds.

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