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2009 Year-End Close Documentation
Target Audience: Department Managers, Financial Administrators, MSOs, and all staff tasked with the responsibility for year-end close and audits. In addition, staff responsible for year-end verifications and review will benefit from reading the documents.
Year-End Close Documents
The Controller’s Office, with assistance from campus departments, has developed the 2009 Year-End Close Documents. These documents provide guidance on the following:
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Whom to Contact about Year-End Close and Audit
For questions regarding year-end close and audit, please contact Jeffrey A. Yepsen, Manager of General Accounting and Financial Reporting, at 415-502-7430 or Jeff.Yepsen@ucsf.edu.
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Target Audience: Department Managers, Financial Managers, Research Service Analysts (RSAs), and Post-Award Administrators who work with sponsored project funds
Late Cost Transfer Enforcement Program - Payroll and Non-Payroll
The Controller's Office is expanding the late cost transfer monitoring and enforcement program to provide a more systematic control over cost transfers and in recognition of University financial policy that expects timely reconciliation of ledgers. Effective with fiscal year 2009/2010 transactions, the Controller's Office will reject late Payroll Expense Transfers (PETs) and late 545 Cost Transfers unless a Late Cost Transfer Exception Request Form has been submitted by the department and approved by the Assistant Vice Chancellor and Controller. A cost transfer is considered late and in violation of University policy 300-22 when it meets the following criteria:
The new Late Cost Transfer Exception Request Form and Late Cost Transfer Exception Department Process may be found on the Controller's Office website under the Communications tab in the Compliance section.
ARRA Update Webinars
The ARRA Update webinar PowerPoint presentation and Frequently Asked Questions are now posted on the Extramural Funds website under the Communication tab in the American Recovery and Reinvestment Act of 2009 section. For the actual recording of the webinar including sound, login to the UC Learning Center, and search for "ARRA"; click Register and then click Submit to begin the recording.
Management Update
Wendy Hom, EMF Compliance Manager, will be leaving EMF at the end of June. She has accepted a position with the School of Medicine, Dean's Office. Wendy has been instrumental in creating a compliance program for EMF, and she will be greatly missed. We wish Wendy the best in her new endeavors.
Effective July 1, 2009, the Compliance unit will report to Michael Maurer, Director of Internal Controls in the Controller's Office. Until a new Compliance Manager is hired, please contact Michael for questions or issues regarding compliance. Michael can be reached at Michael.Maurer@ucsf.edu or 415-502-8911.
June RSA Townhall Presentations
The PowerPoint presentations from the June 17, 2009 RSA Townhall meeting have been posted on the Extramural Funds website under the Research Administration Corner tab in the RSA Townhall section. To purchase a copy of the recorded presentations on CD, please contact Instructional & Research Technical Services at 415-502-1086.
Whom to Contact about Extramural Funds
For questions, please contact Christine Durieux, Director Extramural Funds, at 415-476-1340 or Christine.Durieux@ucsf.edu.
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Accounts Payable (AP) and Travel
Target Audience: Individuals at UCSF who are responsible for making business travel reservations and submitting/approving invoices, check requests, travel expense vouchers, and meeting and entertainment reimbursement requests
Use of Default Fund/DPA With Federal Express Accounts
UCSF currently has over 600 Fed Ex accounts campus-wide. Many transactions have missing, illegible, incorrect, or expired purchase order, speedchart, and/or Fund/DPA information. As a result, invoices are not getting paid timely, and many department accounts are being put on credit hold. Accounts Payable is expending a lot of time and resources researching these invoices.
To address this problem, and in an effort to make improvements to save money and time, the Associate Vice Chancellor of Finance, Eric Vermillion, recently announced the requirement of associating a default DPA and Fund to be used with each Fed Ex account starting July 1, 2009.
Department Action: Finance managers were asked to provide the default Fund/DPA to the Accounts Payable email address, MatchExceptions@ucsf.edu for any Fed Ex accounts they hold by June 24, 2009. If your department has not already done so, please forward that information to AP immediately. Any accounts without a default Fund/DPA or without activity for more than 6 months will be closed.
Whom to Contact about Accounts Payable (AP) and Travel
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Cash Handling and Petty Cash Administration
Target Audience: Campus Cash Handlers and Petty Cash Administrators
Cash Journal (320) Deadline
Cash journals must be submitted by the close of business July 7, 2009. Therefore, Department Approvers must remember to check their PeopleSoft worklist to ensure that they have approved and submitted all June-dated cash (Source Code 320) and credit card (Source Code 323) journals by July 7, 2009. Please refer to the 2008/2009 GL Close Calendar for Campus.
Verification Letters
Verification letters were recently sent to all petty cash custodians. Any custodian who did not receive a letter should contact Rachel Francisco at 415-476-8746 immediately. Letters must be returned by July 27, 2009. Any custodian who has not returned this letter by the due date would risk termination of the petty cash fund.
Online Training Course Revisions and Notifications
The online courses, Policies for Petty Cash Handlers, and, UCSF Cash Policy Highlights, have been revised and are now available. To register for one or both of the courses, go to the UC Learning Center. Search for "Cash Policies" and click Register; then click Submit. Note that, in the new fiscal year 2009-2010, all cash handlers will be required to take the UCSF Cash Policy Highlights course, and all petty cash custodians will be required to take Policies for Petty Cash Handlers.
Note that the UC Learning Center is updating transcripts, and as a result, you may receive an email confirming the last date you completed a particular course. Again, please note that cash courses as noted above are mandatory in the new fiscal year.
Whom to Contact about Cash Handling and Petty Cash Administration
For questions, please contact Toni Sims, Cash Coordinator, at 415-502-8432 or Toni.Sims@ucsf.edu or Kevin Leung, Supervisor Cash Reconciliation, at 415-476-8878 or Kevin.Leung2@ucsf.edu.
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Target Audience: Individuals at UCSF who are either responsible for processing Payroll forms and data entry into OLPPS, or responsible for the management of the process (including post-audit transaction review) within Departments
Upcoming Deadlines for Extending OLPPS Appointments
For academic appointments that currently reflect an expiration date of June 30, 2009, please ensure that Payroll receives the Personnel Action Forms (PAFs) by July 15, 2009 to ensure the faculty member will be paid on July 31, 2009.
For staff appointments expiring June 30, 2009, please make sure to update OLPPS with the new appointment/distribution end dates no later than July 8th for Biweekly employees (July 22, 2009 Payday) and no later than July 16, 2009 for Monthly employees (July 31, 2009 Payday).
If you have any questions about OLPPS or PAF submission deadlines, please contact Esther Carmona, Payroll Operations Supervisor at 415-476-8427.
Taxpayers Should Review California Withholding Allowances to Avoid Under Withholding
As a result of the current State budget, the California Employment Development Department (EDD) recently issued revised personal income tax tables which increase personal income tax withholding applicable to earnings paid on or after January 1, 2009. The new rates represent a one quarter of one percent (.0025) increase in the old tax rates. For example, if the old rate was 1.0%, the new rate is 1.25%.
The new state tax rates will be in effect for paychecks issued on:
However, because the revised rates apply to all earnings in 2009, retroactive to January 1, 2009, it is possible that you may owe taxes at the end of the year if you do not adjust your state withholding allowances.
To determine if you will need to increase the amount of state tax withheld in order to avoid owing taxes at the end of the year, please review the California State Form DE-4 Employee Withholding Allowance Certificate. This form includes instructions about estimating state income tax liability on an annual basis using the new tax rates.
If you determine that you will not have enough state income tax withheld, you can increase the amount of your state income tax withholding by:
You can change your state tax withholding online by signing in to your personal account on At Your Service Online.
For additional information about California personal Income Tax, please visit the Franchise Tax Board website. For more information about the new tax rates or for copies of the withholding schedules, please visit the EDD website.
If you have further questions about this issue, please contact Jason Henry, Payroll Compliance and Customer Service Supervisor at 415-476-1661.
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Target Audience: Asset Custodians, Financial Managers
Asset Custodian Training Workshop
UCSF Storage Facility
Departments may have materials and equipment transported to and stored at the UCSF Distribution Storage warehouse located at 620 Forbes Blvd., South San Francisco. A monthly fee is charged based on cubic footage. To request the service, please fill out a UCSF Storage Requisition. Distribution personnel will pick up the goods, store the items and assign a control number to identify where they are kept in the warehouse
When requesting storage of capital assets, please:
In many cases, departments have lost track of equipment in storage and reported them lost, surplus, or destroyed during the physical inventory. It was subsequently learned they were stored at the UCSF storage facility. When CAM is included in the information loop, we can record the control number in the asset record and share the information with you come time for your physical inventory.
Failure to properly record the whereabouts of capital equipment affects the University’s ability to fully comply with Federal and State policies and requirements, particularly during close outs.
Physical Inventory for 2009-2011 Cycle
With the wrapping up of the physical inventory for 2007-09, CAM is now preparing for the next cycle which commences July 1, 2009. Updated building code listings and new assignment schedules will be posted on the CO Website as of July 1st, 2009.
An ad hoc Physical Inventory Process Review Panel comprised of 10 asset custodians and 3 members of the Capital Accounting team met, and some suggestions were put on the table and will be incorporated in the upcoming physical inventory verification process. If you have any suggestions to offer as well, please email your suggestions to: capitalassetmgt@ucsf.edu.
Whom to Contact about Capital Asset Custodian
For questions, please contact Stephen Lee, Physical Inventory Analyst, at 415-502-2657 or Stephen.Lee@ucsf.edu.
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This page last updated on: Thursday July 16 2009