1. Report Distribution
2. Beware of Printer or Copier Cartridge (and other) Scams
   
3. Unannounced Pcard Audits
   
4. Mileage Reimbursement Charge for January 1, 2006 – Business Travel & Relocation
   
5. Consultant Payments – now restricted on DPs
   
6. Equipment Inventory
   
7. OPERS Rate Increase Effective January 1, 2006
   
8. Ohio University Affiliated Bank Accounts
   
9. Preparing Accounting Corrections
   
10. Finance Forms
    
11. Change in Close Date for Project Accounting Module
    
12. Sixty (60) Day Rule for Accounting Corrections
13. Previous issues of Business Matters

P-CARD: P-card transactions posted through December 2, 2005 are in your December reports. 

REPORT DISTRIBUTION:  The report distribution date for the December 2005 FMS reports will be staggered this month to allow the OU foundation additional time to post their calendar year 2005 contributions. Following are the distribution dates of each report: The M200, M210, M910, M940, and M941 reports will be available the week of Monday, January 9, 2006. The M100, M110, M900, and M316 reports will be available the week of Tuesday, January 17, 2006. If you have any questions, feel free to contact Tanya Bibler at 597-1417 or biblert@ohio.edu

BEWARE OF PRINTER OR COPIER CARTRIDGE (AND OTHER) SCAMS!:  GET THE WORD OUT TO ANYONE WHO DOES PURCHASING IN YOUR AREA: There are vendors out there trying to take advantage of your departmental purchasing power. Most commonly, the scam is about printer or copier cartridges, but it can be about other products as well. A supplier calls, offering you a great deal. The salespeople seem very knowledgeable. They may know what kind of printer, copier, or computer you have in your office. They may claim that the item you need will soon be out of production, and may not be available from other sources. They may namedrop, using the name of University Purchasing staff, your department head, or University technical staff in CSC or CNS. They’ll ask you to order from them. If you do, you’ll get your items – but not at the promised discount. Your invoice will show an outrageously high price. The scammer is hoping you’ll either be too unfamiliar with going prices, or too uncertain, to do anything but go ahead and pay for the items .

WHAT TO DO IF YOU’RE APPROACHED OR TAKEN IN BY A SCAMMER: If it isn’t too late by the time you become aware of the scam, then do not use the items, and do not pay for the items. Return the items as soon as possible. But whether you’ve ordered them, or used them, or paid for them or not, contact Procurement Service and notify us of your experience. You are also welcome to refer any suspect “scam” callers, or any follow-up harassing or collection calls, to Procurement as well.(Contact Ralph Six,six@ohio.edu740-593-1969 or Mary Patacca, patacca@ohio.edu, 740-593-1965.)

REMEMBER: Stick with University contracted suppliers whenever possible. The Purchasing & Contracting Office is hard at work trying to secure “best deals” for most common products. You may occasionally find specials and better one-time deals at other places – but stick with well-known and familiar vendors whenever possible. If you’re uncertain about a vendor’s offer, give the Purchasing Office a call (593-1960) and ask to speak to the buyer who handles the product in question.

UNANNOUNCED PCARD AUDITS:  As part of the Pcard Office’s continuing efforts to protect the University and all cardholders from fraudulent practices, and from unsatisfactory audits by the state of Ohio or other authorities, surprise Pcard audits are being conducted with more frequency. Any cardholder or area on campus (including regional campuses) can be chosen, on any business day, for such an audit. Some Q&A about the procedure is below:

WHAT HAPPENS DURING THE AUDIT? Pcard auditors will come to your office and ask for specific Pcard statements. They must be turned over immediately. The auditors will review the statements, checking to see that all is according to Pcard policy.

HOW CAN I BE PREPARED FOR AN UNANNOUNCED AUDIT? Keep p-card statements easily accessible, and up-to-date with proper signatures and receipts. If you are approached for a surprise audit, but you don’t handle the final filing and upkeep of Pcard statements, refer the auditors to the proper individual(s) in your area.

HOW LONG WILL THE AUDIT TAKE? Depending on the findings and how many people's statements in the department are being reviewed, it can take anywhere from several hours to a couple of weeks for the auditors to complete the task. The amount of departmental staff time that is needed varies according to how clear, well-maintained, and accessible the records are.

WHAT HAPPENS IF THE AUDIT-FINDINGS ARE UNSATISFACTORY? Depending on the severity of the problems identified, auditor response can be anything from sharing information for practical solutions, to shutting down problematic cards, to scheduling a more thorough audit or investigation.

WHAT IF I HAVE A VERY BUSY DAY AHEAD, AND JUST DON’T HAVE TIME TO DEAL WITH THE UNEXPECTED AUDIT? Conducting the audit without allowing time to prepare (either the paperwork or the daily work schedule) is part of the audit-strategy, and speaks directly to the unannounced-audit’s effectiveness as an auditing tool. It is always a challenge to deal with unexpected requests during a busy work day. But unless your circumstances constitute a true emergency situation, compliance with the surprise audit is required.

HOW ARE DEPARTMENTS CHOSEN FOR AN UNANNOUNCED AUDIT? They can be chosen randomly, or as the result of a specific concern.

WHO’S SCHEDULED FOR THE NEXT UNANNOUNCED AUDIT? That would be the . . . oops! You almost got us! Our lips must remain sealed, but time will tell.

MILEAGE REIMBURSEMENT CHANGE FOR JANUARY 1, 2006 – BUSINESS TRAVEL & RELOCATION: As of January 1, 2006, the IRS mileage reimbursement rate for business travel has decreased from 48.5 cents per mile, to 44.5 cents per mile. This change reflects a decrease in gasoline prices from the high they reached in 2005. The IRS will continue to closely monitor the situation, and issue changes as appropriate. To receive the correct mileage rate, please be certain to use the appropriate Travel Expense Reimbursement form (TER), for your dates of travel. See available forms at http://www.finance.ohiou.edu/forms (choose Travel). Also note that effective January 1, mileage reimbursement for relocation expenses will increase from 14 to 18 cents per mile.

CONSULTANT PAYMENTS-NOW RESTRICTED ON DPs :  Effective December 1, 2005, consultant payments, of $5,000 (five thousand dollars) or more, are no longer allowable on Direct Payment forms (DPs). Such engagements must be set up by using a Requisition, to establish a Purchase Order to the individual or the consulting firm, for the dollar amount of the entire engagement. This change will allow better tracking of bid limit compliance.

A current listing of all items allowable on DPs can be viewed here: http://www.finance.ohiou.edu/purch/dplist.html. All other items (any items not specifically on the list) require either a Purchase Order, or Pcard use, as appropriate.

NOTE: For Grant Accounts, payments to consultants are never allowable on DPs, regardless of dollar amount.

EQUIPMENT INVENTORY:  The Equipment Inventory list has been sent out the first week of January by electronic mail. This Inventory list is for your records only. A response is not needed unless there is equipment that has been scrapped, sent to recycling/surplus or moved to a new location. Then, an EI- 8 form must be completed and returned to the Equipment Inventory office, 276 HDL Center. The form is located at http://www.finance.ohiou.edu/components/EI8.xls. If you did not receive a list of your department’s inventory and would like a copy, send an e-mail to Michelle Schall at schall@ohio.edu with your five digit organization number.

OPERS RATE INCREASE EFFECTIVE JANUARY 1ST 2006: Ohio Public Employees Retirement System (OPERS) is implementing rate increases for both the employee and employer rates effective January 1, 2006. The new rates will be 9.0% for employees and 13.54% for employers. The new employer rate will affect budgeting for the FY 06 year.

There will also be additional increases in January 1, 2007 and January 1, 2008. OPERS plan is to increase the current 8.5% employee and 13.31% employer rates to the authorized maximums of 10.0% employee and 14.0% employer over the next three calendar years.

These increases are part of a long term plan by OPERS to fund future health care for retirees.

OHIO UNIVERSITY AFFILIATED BANK ACCOUNTS :  For those of you who deal with Ohio University affiliated bank accounts, please send copies of your 12/31/05 bank statements and bank reconciliations, along with a short description of the intended purpose of each bank account, to Danny Kasler, Treasury Management, 166 HDL Center by February 1, 2006. Treasury Management will be doing some preliminary work prior to the June 30, 2006 audit. If you have any questions, please contact Danny Kasler at 597-2546.

PREPARING ACCOUNTING CORRECTIONS: Before preparing the Accounting Correction Form to correct a transaction, please remember to review year-to-date activity for the account by using the OU Funds Available View. This will ensure that duplicate entries are not prepared and processed.

FINANCE FORMS :  Just a reminder - Finance forms are continually being updated. For best results and speediest processing, always check http://www.finance.ohiou.edu/formsthe latest version of the Finance form you need.

CHANGE IN CLOSE DATE FOR PROJECT ACCOUNTING MODULE:  Due to recent Oracle FMS system upgrades and process changes, the Project Accounting Module will close the last day of the month beginning with August.  This affects all grants, contracts, plant and capital improvement accounts. Any transaction received at the end of the month will be processed during the following month.  Please use PSI (Project Status Inquiry) to review your account during the course of the month for the current status of activity in the project.

SIXTY (60) DAY RULE FOR ACCOUNTING CORRECTIONS: Please note that effective July 1, corrections for transactions over 60 days will not be processed by the Division of Finance. Accounting Corrections and Pcard (PARIS) Corrections should be submitted on the Accounting Correction form within 60 days of the transaction post date in FMS (NOT the p-card post date in PARIS i.e. if a transaction posts to PARIS on 9/1/05 and posts to FMS on 9/30/05, the post date to use on the Accounting Correction form is 9/30/05 so you have until 11/29/05 to make the correction). Payroll Corrections should be submitted on the Payroll Expense Accounting Correction form within 60 days of the report distribution date for the month the payroll posted.

PREVIOUS ISSUE OF BUSINESS MATTERS : Previous issues of Business Matters can be found at the following website:http://www.finance.ohiou.edu/nwslttr/cufsinsert.html

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