fiscal officer meeting thursday, september 18, 2008
TRANSCRIPT
Fiscal Officer Meeting
Thursday, September 18, 2008
Healthy For Life
T. E. Atkins UM Wellness Program
Jaime Capizzi - Wellness Program Manager
234 General Services Building
314-516-4001
SENIOR FISCAL OFFICERS MEETING
Joann Wilkinson
September 18, 2008
C&C DEPTIDS
• C&C -- Communications and Computing Purpose of deptid is to spread the cost of telephones (communications) and computing. Faculty/Staff parking expense is spread to C&C deptids as well.
• Transfer in an amount equal to the amount of the expense being charged. Ending balance should always be zero.
• Contact Joann Wilkinson if C&C deptid is out of balance.
C&C Deptids
• Setting up new C&C deptids so there is one C&C deptid for each deptnode on the PS Department Tree at the department level.
• Joann Wilkinson will initiate new chartfield request.
Funding Commitment Form
• Required for any transfers of funds from “the Campus” to units.
• To be completed after both parties have agreed to the details. If funding a position, complete after the person has accepted the offer.
• Joann will route from Provost/Vice Chancellor to Chancellor.
TRANSFERS
• Running monthly report to check that transfer budget is in balance.
• Helps if use name conventionTR-TransferCSD1 = Unit giving up the fundsCSD2 = Units receiving the fundsDescription = short description
Example: TR-Nrsg-A&S-Fall semester courses(total of 30 characters)
New Chartfield Request
• New Chartfield Request – provide both sides of transfers on the request form, I will enter budget and process the transfer.
• Include the name of the chartfield on subject line.
• CC: Joann Wilkinson when you send a new chartfield request to the UMSL, NEW ACCT REQ.
PeopleSoft Upgrade to Version 9.0BUDGET
• Financial System will be down the week of November 24th.
• End users will not see a difference in the panels
• May affect queries
• Will need assistance with testing.
Budget Potpourri
• BASE transfers reports will be sent out monthly.
• Outlook out of office message – very helpful when handling BCM errors.
• Beginning balances – zero budgets have been entered. Working on upload to adjust budget beginning balance to equal actual beginning balance.
University of Missouri-St. Louis
Senior Fiscal Officer’s MeetingSeptember 18, 2008
Randall Vogan
Revised Business Policies
• BPM 504 – Methods of Transportation– Old rule: If use personal vehicle for official
business outside of Missouri, reimbursement cannot exceed the rate of lowest available airfare
– New rule: Effective July 1, 2008, if use personal vehicle for official business for a distance of more than 400 miles one-way or 800 miles round trip, the amount reimbursed cannot exceed an estimate of the lowest available airfare
• Must prepare a flying vs. driving cost comparison and attach copy to Travel Expense Voucher
Revised Business Policies• Example of flying versus driving cost comparison
Revised Business Policies
• BPM 505 – Allowable Expenses– Affects: Reimbursement of meals when eaten
alone and no overnight travel is involved– Old rule: Allowed reimbursement of meals on
a non-taxable basis if the employee was in continuous travel status for 12 hours or more
– New rule: Effective May 1, 2008, employee may receive an occasional meal reimbursement (typically Dinner) on a non-taxable basis if day travel extends their work day
PeopleSoft Financials Upgrade to 9.0
• Upgrade from version 8.8 to 9.0 scheduled for the week of November 24– No Finance Production access that week
• Go live on version 9.0 on Monday, December 1
• Product support from Oracle for version 8.8 ends in December 2008
• Version 9.0 includes enhanced functionality
PeopleSoft Financials Upgrade to 9.0
• PeopleSoft HR will not be affected, this is only an upgrade to the Finance modules
• PS 8.8 Reporting instance and any web applications that point to the Reporting instance, such as PS Financial Reports, will be available during conversion
• Any web applications that rely on the production system will not be available, such as PS Journal Entry
PeopleSoft Financials Upgrade to 9.0
• Prior to upgrade, all Finance modules in a test instance of version 9.0 and affected web applications will be tested by individuals in primary and secondary testing groups
• Preliminary testing indicates minor changes between versions 8.8 and 9.0
• Campuses will determine the appropriate style of training (online, classroom, etc.)
Non-PO Voucherscreen print from current PeopleSoft 8.8 production instance
Accounts Payable Module
Accounts Payable Module
Non-PO Voucherscreen print from PeopleSoft 9.0 test instance
Accounts Payable Module
Plan to prepare Non-PO VoucherQuick Reference Guide similar to this for use in PeopleSoft 9.0
Unrelated Business Income (UBI)
• UBI Questionnaires (long form) were due back to Accounting last Friday, September 12– Contact John Creamer if need assistance with form
• Criteria used to determine if activity generates UBI– Production of income from the sale of goods or the
performance of services and expectation of profit– Conducted on a regular (year-round, periodic, seasonal,
etc.) basis or in the same manner as commercial activities
– Not substantially related to the University’s exempt mission of education, research, and public service
• If activity does generate UBI, must isolate revenues and expenses associated with activity
• PeopleSoft Travel and Expense module purchased
• Implementation postponed until completion of PeopleSoft 9.0 conversion
TRIP
Fiscal Officer Meeting
Thursday, September 18, 2008
Meal Reimbursements
Ernie Cornford
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Non-taxable Reimbursements
• Three meal reimbursement categories are non-taxable to employees– Travel expense
– Business expense
– De minimis fringe benefit, hereafter referred to as overtime meal
• Excluded from employee’s gross income
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Non-taxable Reimbursements-Travel Expense
• The employee is required to stay away from home overnight for business purposes
• Substantiation requirement – business purpose of trip must be documented
• Frequency – reimbursement not limited as long as business purpose is adequately documented
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Non-taxable Reimbursements-Business Expense
• Business purpose of meals must be adequately documented– Substantiate amount, time and place, and business
purpose– Meal must include bona fide business discussion– Meals eaten alone are not reimbursable as business
expense• Meal is considered a “working condition” fringe benefit,
excludable from employee’s gross income• Frequency – reimbursement not limited as long as
business purpose is adequately documented
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Non-taxable Reimbursements- Overtime Meal
• Employee on a day trip eats a meal while working additional hours– Meal reimbursement may qualify as a non-
taxable overtime meal– Substantiation requirement – that employee
was required to work beyond regularly scheduled hours
– Meal reimbursement may only be provided on “occasional or infrequent” basis – not a regular occurrence
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• Requirements for exclusion from income as a non-taxable overtime meal if:– The meal is provided on an occasional basis
AND
– Overtime work required an extension of the employee’s normal work schedule AND
– The meal enabled the employee to work overtime
Key Points in UM’s New Policy• Options if employee makes day trips and is
frequently and regularly reimbursed meals due to extended workday that do not meet the criteria for business expenses– Department should consider providing
employee with a taxable meal allowance, or – Meal may be reimbursed to employee at
departmental discretion and is included in employee’s taxable income, or
– Department may choose not to reimburse.
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Taxable Meal Allowances
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• New earnings code for taxable meal reimbursements– TFM – reimbursement for meal no longer
considered occasional due to frequency
– Complete travel voucher and Additional Pay Form using earnings code “TFM”
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Example
• An employee attends training at a downtown hotel. The training does not provide lunch, so the employee buys lunch at the hotel restaurant.
– Since this situation did not involve overtime or overnight travel status, the meal cannot be reimbursed as a non-taxable overtime meal.
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Example
• An employee leaves for an out-of-town training at 6:00 am and returns at 9:00 pm, eating dinner on the way home. – Since this situation required overtime hours, the
dinner can be reimbursed as a non-taxable overtime meal as long as it is “occasional.”
– Reimbursement is at the discretion of the department.
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