Finance News

Jun 24, 2024

Contract and Grants Record Retention

Written by Justo Torres, Director, Contracts and Grants. This month’s Finance Division Knowledge Base spotlight is on “How long should I keep contracts and grants records?”  The determination of how long to keep contract and grants records is a critical one. Errors in record retention could lead to significant audit findings, both for not retaining…

Jun 24, 2024

Prior Approvals for Grants

Written by Allison Nelson, Associate Director, Contracts and Grants. What is prior approval, and why do I need it? Prior approval is advanced written approval by a sponsor agency’s authorized official. The authorized official approves specific activities before they occur. An authorized official, for example, is a grants management official, grants management specialist or authorized…

Jun 24, 2024

Summer Orientation Presentations

Written by Mia Pollard. Orientation groups have been buzzing around campus this summer and stopping for brief informational sessions presented by the Student Services Center staff with support from the Student Accounts team. During these presentations, incoming students and their families learn how to navigate the MyPack Portal, find and understand charges and bills, report…

Jun 24, 2024

New Team Members and Roles

Written by Justo Torres, Director, Office of Contracts and Grants. The Office of Contracts and Grants is pleased to highlight some new team members and existing members with new roles. We are committed to attracting and retaining the best talent available and would like everyone to virtually “meet” the following staff: Houston Alexander, Interim Sr.…

May 23, 2024

FAI Fiscal Year End Reminders

Written by Erin Delehanty. Foundations Accounting and Investments (FAI) has a few friendly reminders as fiscal year end approaches: Audit Request Letters Audit request letters were sent via email by Jessica Hoff, Foundations Assistant Controller, to appropriate parties on June 1. These letters contain a listing of various documents and information required to be submitted…

May 23, 2024

Controller’s Office: Year-End Reminders

Written by Arianna Williams. The University Controller’s Office would like to provide the following reminders for fiscal year-end deadlines: Journal Vouchers  Travel Reimbursement Travel reimbursements must be uploaded with supporting documentation and approved at all levels by 5 p.m. on June 14 for June processing.  Imprest Account Reimbursement Reimbursement requests for imprest checking/petty cash accounts…

May 23, 2024

Cost Transfers: Necessary but Risky

Written by Justo Torres, Director, Contracts and Grants. A cost transfer is the moving of an expenditure from one department or project to another. They are a needed tool to make sure costs are booked to the correct source, and a part of doing business, but they come with the price of added audit attention.  …

May 23, 2024

What is a HUB?

Written by Sharon Loosman. This month’s Finance Division Knowledge Base spotlight is on the article: What does the designation of “Historically Underutilized Business” mean? A Historically Underutilized Business (HUB) is a corporation, sole proprietorship, partnership or joint venture formed to make a profit in which at least 51 percent ownership of the business is by…

May 23, 2024

Fully Staffed: Summer Call Center

Written by Mia Pollard. As we enter our 12th year of implementation, the University Cashier’s Office is pleased to announce our summer call center is fully staffed with seven student workers, including two who have been with us since the beginning of the 2023-24 academic year.  Our student workers assist in answering phone calls and…

May 23, 2024

PaymentWorks Hall of Fame Award

Written by Megan Catt. In December 2023, PaymentWorks hosted an event to honor vendor management professionals and the value they bring to this important area of work. During the event, Megan Catt and Sharon Loosman were inducted into the inaugural PaymentWorks Hall of Fame. They were selected due to their contributions to the PaymentWorks User…