1. Year End
2. Summer Hours – Workforce Time
3. Minimum Wage
4. Budget Planning
5. Physical Plant Billable Rates
Year end is fast approaching. Smartkeys that spend evenly throughout the year should be about 83% expended to date. You can find lots of information in the year end memo attached here or located on the Finance website.
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.
Remember to set an approval proxy if you are going to be out of the office. It is very important, especially at our fiscal year end, that all SmartDocs make their way through workflow in a timely manner. Please remind others in your department to set a proxy if they are out of the office. I
f you are a chargeback center or you have outstanding transactions that may hit a budget outside of your area, please be sure to process the transaction as soon as possible as departments are actively trying to predict year end balances.
2. SUMMER HOURS
All employees eligible for summer hours should use Workforce Time to record time off for summer hours through the Time Off Request feature in Workforce Time or by entering summer hours used directly on ‘My Timesheet’ in Workforce Time. Summer Hours have been added to each eligible employee’s Summer Hours bank in Workforce Time effective June 6th. You can find a quick, three minute video on how to report summer hours in Workforce Time using the Time Off Request Function in WesPortal.
The Connecticut state minimum wage will increase from $13.00 per hour to $14.00 per hour on July 1, 2022. We recommend hiring summer student workers in the Student Employment System at a minimum of $14.00 per hour on June 1st to avoid having to do an additional hire in the Student Employment System effective July 1st.
The budget planning period for 2023 will be open on June 1st until June 30th, 2022.
As a reminder, budget planning is the opportunity for departments to align the upcoming year’s budget to where expenses are most likely to occur. The financial system checks whether there is adequate budget for the expense prior to submission, so departments are encouraged to take the opportunity to review how the departmental budget was spent in prior years and allocate next year’s budget accordingly
5.PHYSICAL PLANT BILLABLE RATES
On July 1, 2022 the attached per labor-hour charges will take effect for all billable services from Physical Plant. This charge covers both the labor and materials necessary to complete the request. Please feel free to contact Jeff Murphy with any questions.