Financial Services

1
Financial Services

• Budget Authority Training
• July 15, 2008

2
Financial Services

• The Financial Services Department offers a wide
  variety of services to the campus community. The
  following PowerPoint presentation is a broad
  overview of the services provided. For
  additional details, please visit the Financial
  Services website at http//www.uttyler.edu/finserv
  /.

3
Financial Services Functional Areas

• Cash Management
• Payroll
• Purchasing and Accounts Payable
• HUB Administration
• Travel Administration
• University-Owned Equipment
• General Accounting

4
Cash Management

• The Cash Management section is responsible for
• managing the University's banking relationships,
• reconciling bank accounts, and providing the
  following
• services to the campus community
• Voiding checks that have been lost or processed
  in error
• Reissuing checks
• Researching lost or stolen checks
• Issuing stop payments on stolen checks or checks
  lost 10 days
• Processing wire transfers

5
Payroll

• Full time salaried employees are paid monthly on
  the first working day of the month.
• Part time hourly employees are paid twice a
  month, as follows Five working days after the
  15th day of the monthFive working days after the
  last day of the month
• It is the budget authoritys responsibility to
  timely approve electronic
• appointments and payroll vouchers. An alternate
  approver should be
• appointed for times when the budget authority
  will be out of the office.

6
Purchasing Accounts Payable

• The Purchasing staff solicits bids and makes
  awards to meet the
• needs of the end user, while ensuring that the
  procurement meets
• best value criteria, complies with the
  Universitys HUB policies,
• conforms to standards of ethical conduct, and
  complies with all
• applicable laws, rules, and regulations.
• The purchasing function at UT Tyler is
  semi-decentralized. In general, University
  departments process orders up to 5,000. The
  purchasing office processes orders in excess of
  5,000.
• Purchase orders are processed through web-based
  POINT Plus.

7
Purchasing Accounts PayableElectronic Payment
Process

• The Accounts Payable function is decentralized.
  University
• departments are responsible for originating
  electronic payment
• documents based on supporting purchase orders,
  receiving reports,
• and invoices.
• Upon budget authority approval, the electronic
  documents
• automatically route to Financial Services, where
  they are reviewed for
• appropriate expenditure object codes and payment
  terms/dates.
•  
• Documents with discrepancies are returned to the
• department for correction.  Upon Financial
  Services final approval of
• the document, a payment date is automatically
  scheduled in DEFINE.

8
Purchasing Accounts Payable, contdElectronic
Payment Process

• Checks are printed in the Cashiers Office at
  approximately 1200 noon, Monday-Friday, based on
  the scheduled payment dates. Information about
  the Cashiers Office can be found at the Student
  Business Services website.
• Voiding and/or reissuing vendor checks is handled
  in by the Cash Manager in Financial Services.

9
Purchasing Accounts Payable, contd Procurement
Card

• The University of Texas at Tyler offers
  University departments a MasterCard Procurement
  Program for ordering supplies or business
  services. The program is a fast, flexible method
  of processing low dollar value purchases from
  vendors that accept the MasterCard credit card.
• The Procurement Card is not intended to avoid nor
  bypass appropriate purchasing or payment
  procedures. Splitting purchases may result in
  loss of card privileges and up to and including
  termination.
• Budget authorities should timely approve VP7
  documents. Failure to do so will result in
  disciplinary procedures

10
Purchasing Accounts Payable, contd Personal
Services

• Authorization for Personal Services (APS)
• An APS form is required for
• Employees providing services unrelated to their
  regular job duties (e.g., proctoring a test)
• Individuals providing services to the University
  using their Social Security Number to conduct
  business (for compliance with IRS Regulations)
• The APS form and Classification checklist should
  be completed before services are rendered.
• Note APS forms require budget authority
  approval, before being forwarded to Financial
  Services, where the approval process will be
  finalized.

11
Purchasing Accounts Payable, contd Conflict
of Interest

• All personnel who are involved in procuring
  goods or services on behalf of UT Tyler shall not
  accept personal gifts or gratuities that might in
  any way result in an obligation to individuals or
  firms seeking business. No bidder or proposer
  shall receive special consideration. Unsolicited
  items or gifts of minimal (less than 50 and not
  cash or negotiable instruments) are exempt if not
  given as a benefit or in consideration of
  official action. A benefit is anything
  reasonably regarded as monetary gain or
  advantage.

12
HUB Administration

• The Texas Procurement and Support Services agency
• administers the statewide HUB (Historically
  Underutilized
• Business) Program. The purpose of the program is
  to
• assist certified minority and woman owned
  businesses in
• bidding for contracts and open market purchases.
  UT
• Tyler is committed to maximizing the opportunity
  for HUB
• companies to provide materials, supplies,
  equipment, and
• services needed to support the University.

13
HUB Administration, contd

• Budget authorities should strive to achieve the
  State of Texas Annual Procurement goals for HUBs
  
• 11.9 heavy construction other than building
  contracts
• 26.1 building construction
• 57.2 special trade construction contracts
• 20.0 professional services contracts
• 33.0 other services contracts
• 12.6 commodities contracts

14
HUB Administration, contd

• The UT Tyler HUB Coordinator provides periodic
  HUB training and monthly HUB progress reports to
  assist Budget Authorities in their efforts to
  meet these goals.
• For more information on the HUB Program, visit
• http//www.uttyler.edu/finserv/HUB/HUB_home.htm

15
Travel Administration

• See the Financial Services Travel web page at
  http//www.uttyler.edu/finserv/UTTylerFinancialSer
  vicesTravel.html

16
University-Owned Equipment

• Texas Government Code 403, Subchapter L
  establishes the current guidelines for property
  accounting and responsibility. These laws impose
  upon the University and each employee
  responsibility for the care and proper use of all
  state property.
• Inventory consists of
• Capital items 5,000 or more
• Controlled items 500 or more (e.g., computer
  equipment)

17
University-Owned Equipment, contd

• The annual physical inventory for the University
  is conducted in February or March. Budget
  authorities are responsible for physically
  verifying the accuracy and completeness of their
  inventory lists each year.
• Logs should be maintained when equipment is moved
  to another location on campus.
• An inventory removal form should be completed
  when inventory is removed from campus.

18
University-Owned Equipment, Contd

• Missing or stolen equipment should be reported
  immediately to
• Campus Police
• Financial Services
• Obsolete equipment should be
• offered to other UT Tyler departments, and if not
  claimed,
• transferred to the Central Warehouse at the
  Physical Plant for proper disposal.
• Note Contact Campus Computing to wipe computers
  before transferring

19
University-Owned Equipment, contd

• Services provided
• Tagging equipment as it is received by
  departments
• Coordinating and monitoring the annual physical
  inventory process and auditing reports submitted
  by departments
• Monitoring equipment transactions and maintaining
  equipment inventory records
• Assisting departments with the inventory disposal
  process

20
General Accounting

• Departmental charges (postal charges, food
  service, etc.)
• Correction vouchers
• Special transfers