Finance Monthly - June 2006
20th Edition

Systems
        1. Month End Reports
Deadlines
        2. Year End:  Calendar
        3. Payroll Redistributions
        4. Deposits
        5. Accounts Payable Deadlines – 4th of July
Other News
        6. Purchasing - Stationary
        7. Summer Employment
        8. Administration of Payments to Non US Citizens/Non Resident Aliens
        9. New mileage rate for fiscal year 2007
        10.  Congratulations
        11. Who to Contact?
       

1. MONTH END REPORTS
The May month end jobs have successfully run and the reports are currently available on Eprint.  Users can access Eprint through the Administrative Applications area in their employee portfolio and by using their FRS operator number as the UserID and FRS Password as the Eprint password.


2.  YEAR END: Calendar
Please review our year end document for important policies and dates pertaining to the upcoming Fiscal Year End at http://www.wesleyan.edu/finance/financeDept/Dept%20year%20end%20schedule%2006.doc


3.  PAYROLL REDISTRIBUTION
Any payroll redistributions of transactions prior to May 31 must be requested by June 14th to be reflected in the 2005/06 fiscal year.  Any redistributions of June payroll activity must be requested by July 10th in order to be reflected in second close reports.  Please note that these deadlines are applicable for all accounts, including grants.
 

4.  DEPOSITS
All cash/check/credit card deposits on hand should be submitted to the Cashier's Office by Wednesday, June 28.  The date for submitting final last-minute receipts for 2005/06 is Friday, June 30, 10:00 a.m.  This is the date and time that the final deposits must be received in the Cashier's Office in North College. 


5. ACCOUNTS PAYABLE DEADLINES – 4th of July
All vouchers received by 4 pm on Thursday are processed for payment on the following Friday with the exception of holiday deadlines. 

On Tuesday July 4th, the University will observe the 4th of July Holiday. All Accounts Payable Vouchers that must be paid on Friday, July 7th, must be received in the Accounts Payable Office no later than Wednesday, June 28th, at 12:00 noon. Payment requests received beyond this deadline will be processed for payment on July 14th.
 
Please note that the deadline for Fiscal Year 2006 expenditures is Wednesday, June 14 at 3:00.  Any vouchers marked for FY06 received after this date must first be approved by your fiscal manager and will then only be processed if time allows. 
 
Contact Tammy Harley, x 2843 or Regina Sipples, x2842 with any questions.


6.  PURCHASING:  Stationary
In conjunction with Advanced Printing Services, Inc., a new web based procurement site is now available for ordering stationary.  Please see the attached document for details on how to access and navigate this web site.  If you have any questions, please contact Olga Bookas at extension 2122 or by e-mail at obookas@wesleyan.edu. 


7. SUMMER EMPLOYMENT
A reminder that summer employment contracts must be received by the Financial Aid office in order to be eligible for the 50% reimbursement of summer student earnings.   If a summer employment contract is received after the student has begun working, the department will not be eligible for retroactive reimbursement of wages. No exceptions will be made.  Please contact Sean Martin, Assistant Director of Financial Aid if you have any questions or need more information.


8.  ADMINISTRATION OF PAYMENTS TO NON US CITIZENS/NON RESIDENT ALIENS
Effective June 2006, the Payroll Office will assume the administration for the income tax analysis of non U.S. citizens employed by the University.  This includes students and employees being paid wages or stipends via the Payroll system.  Christine Rodrigue will continue to administer all other payments (Accounts Payable, Honorariums, Scholarships, etc) made to non U.S. citizens and will remain available for inquiries.  Please find the updated Policies and Procedures for Paying and Employing Non U.S. Citizens at http://www.wesleyan.edu/finance/financeDept/foreignTax/policyForiegn.html


9. NEW MILEAGE RATE FOR FISCAL YEAR 2007
The new mileage rate for fiscal year 2007 is $0.445 (Forty-four and 1/2 cents), the IRS established standard rate.
 

10.  CONGRATULATIONS
The finance office would like to congratulate Valerie Nye on the birth of her fourth child.  Jack Nye was born on April 26th and was 8lbs, 4oz.  Everyone is doing well and we wish them all the best.
 

11. WHO TO CONTACT
Do you need assistance on an issue or problem and don't know who to contact? Find your contact by clicking on the following link:
http://www.wesleyan.edu/finance/misc/contactInformation/


SUBMISSIONS FOR FINANCE MONTHLY
What topics would you like to see included in this monthly communication?  Do you have a system tip you'd like to share?  Finance Monthly will be e-mailed on a monthly basis, corresponding with the availability of month end financial reports.  Items for inclusion are due five business days before the end of each month and can be submitted to Valerie Nye, vnye@wesleyan.edu.


 

Purchasing News -June1.doc