Finance and Administration News
Changes in Micro-purchase threshold – effective July 1, 2018
As shared in the October 2017 and April 2018 Business Forum, the procurement changes required under Uniform Guidance take effect on July 1, 2018. These changes apply to all federal awards. A federal award can be determined by referring to the Award segment numbering in the chart of accounts. The Award number for a federal award starts with one of the following number schemes: 11XXXXX, 12XXXXX, 21XXXXX, 22XXXXX.
Petty Cash Fund and Change Fund reconciliations due
Finance must have the correct balance of departments’ petty cash or change funds as of June 30 to finalize FY18 for financial statement purposes.
On June 8, Annette Niese sent an email with the reconciliation forms to all custodians who maintain a petty cash or change fund. Information, instructions and the reconciliation form were included in the email.
Ohio University adopts Inter-University Council Scientific Supplier Agreements
As previously communicated, the Ohio Task Force on Affordability and Efficiency in Higher Education, with the Board of Trustees ratification, requires Ohio University to leverage purchases campus-wide through preferred suppliers and leverage purchases state-wide for areas of common spending through the Inter-University Council Purchasing Group (IUC-PG). Given these restrictions, we understand the need for more choice and a wider selection of preferred suppliers.
Professional Development Pathways Prepares for Launch
The Professional Development Pathways program will provide on-the-job professional development opportunities for Ohio University employees through new learning opportunities recorded in Blackboard. The first badges are available now, with the full program launching…
Employee Parking Deductions
On December 22, 2017 the Tax Cuts and Jobs Act (TCJA) with several provisions impacting qualified transportation fringe benefits was signed into law.
Payroll issues guidance on end of fiscal year reconciliation of leave usage
As the end of FY18 approaches, faculty and staff are reminded to record all planned and/or confirmed absences through June 30 in the appropriate system to ensure that leave balances are appropriately reflected and carried over into FY19.