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Taxation, Petty Cash & Money Lists, Workflow, and Information Technologies

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Alana Monjure

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W9 form requests: Basic Guideline: NEVER FILL ONE OUT! Send all requests for these forms to taxation Email address: tax@unm.edutax@unm.edu TAXATION

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Moving Expenses must be properly reported to the IRS. All Moving expenses belong in account 38L0 All House hunting expenses are MOVING expenses, not recruitment or travel expense Expenses must be turned in within 60 days of being incurred to remain non-taxable TAXATION MOVING EXPENSES

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Staff Awards are taxable The Awarding Department provides the award amount and employee name/Banner ID number to Payroll This includes gift certificates awarded TAXATION STAFF AWARDS

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Taxation issues exist for all foreign nationals BEFORE incurring travel expense on a Pcard for a foreign national, contact taxation Include UNM letter of invitation BEFORE filling out a DPI to reimburse a foreign national, contact taxation Vendor set up to include W8 BEN form TAXATION FOREIGN NATIONALS

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Fill out SPQs completely- There are tax implications to both the vendor and UNM A properly filled out SPQ allows UNM to correctly determine employee versus contractor relationships UNM will report 1099 income to both the vendor and the IRS TAXATION SPQS

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Stacie Hurley

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PETTY CASH STATISTICS Processed FY 2011 Processed FY 2012 HSC-Unrestricted & C&G (combined)1,294* 801 Main Campus - Unrestricted409* 289 Main Campus - Contracts and Grants115* 81 Combined Total:1,8181,171 * Through May 31, 2012

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Main Campus Departments must have a Petty Cash fund Cash Handling Training Required Expense must be allowable for Petty Cash use Use of Pcard or DPEZ reimbursement is preferred Reimbursements available in Bursars Office, Main Campus only Petty cash funds must be reconciled weekly PETTY CASH IN GENERAL

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Food for entertainment/staff meetings Travel costs Gifts Most services Fed-Ex, UPS, DHL, etc. Tax on goods Salaries PETTY CASH UNALLOWABLE

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Payments that are difficult or impossible to make using a DPEZ or Pcard, such as: Time sensitive mailings COD payments- Fed Ex, UPS, etc. Post Office payments Also allowable: Basic photo developing Basic photocopying Payments to Clinical Trial Participants PETTY CASH ALLOWABLE

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PETTY CASH FORM 1. Petty cash may be used for Departmental purchases of $100.00 or less per day/per Vendor. 2. Petty cash can not be used for personal advances, loans, IOUs, cashing checks, salary payments, payments for outside services, purchases from campus departments or vendors travel costs, or unallowable expenditures. 3. Reimbursement cannot be claimed more than once for the same purpose. By signing the receipt, the person being reimbursed certifies that he/she has not received prior reimbursement.

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PETTY CASH FORM 52305431K03U0032$9.00 Book of stamps to mail patient referrals and enclose A self addressed (to UNM) stamped envelope.

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Proper signatures Original Receipts Appropriate Index/Account Code Total vendor costs less than $100/day Expenditures allowable Cannot be used if expenditure occurred more than 60 days ago PETTY CASH GUIDELINES

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BUSINESS PURPOSE: NOT what I bought But Why I bought it When the purchase was made Explain PETTY CASH GUIDELINES

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Change in Review Responsibilities: Contract and Grant will review Petty cash pertaining to Contracts and Grant expenditures (Marie Herrera) These Must indicate the FUND, as well as the index Change begins July 1, 2012 PETTY CASH - CHANGES

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The HSC cashier window closed May 18 th The Bursars office on Main Campus has been relocated to the Business Center, effective May 18 th HSC employees will continue to have Petty Cash reimbursements approved in the HSC Financial Services Office To obtain the reimbursement they must go to the Bursars office located in the UNM Business Center on the first floor, at the Corner of University and Lomas PETTY CASH - CHANGES

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Unrestricted Petty Cash reimbursements will continue to be handled as they have been, primarily by Thelma Graham with Stacie Hurley as backup Restricted Petty Cash reimbursements will now be handled by Marie Herrera PETTY CASH - CHANGES

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USING XTENDER

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Stacie Hurley

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Money lists are prepared by the department for all money (cash or checks) received by the department The funds received must be deposited into the correct index and account Never use: Transfer(11xx-12xx) Allocation(16xx) Reserve(1903) Expense accounts(2000-98xx) MONEY LISTS

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Money lists deposited to 07ZZ Reimbursement Holding: 1) After the deposit, prepare a journal voucher 2) Debit 07ZZ and credit the expense account that is being offset 3) 07ZZ must have a zero balance at the end of the fiscal year MONEY LISTS

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Conform to Policy: Frequent deposits Cash Handling Training Gifts go through the Foundation Receipts given MONEY LISTS

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Both Petty Cash and Money Lists require Internal Controls Separation of Duties Adequate recording or receipts Reconcilement INTERNAL CONTROL

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MONEY LIST FORM Explain source or reason for deposit.

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Departments may now drop off deposits with HSC Financial Services Departments may elect to use UNMs mobile courier service Contact Jose Gonzalez with questions: JM Gonzalez@salud.unm.edu MONEY LIST - CHANGES

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John Brandt

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P CARD WORKFLOW THEORY Automated process to reduce effort required to reconcile travel transactions More efficient for PCard Department Prior to Workflow, Cardholder statements could not be approved until travel occurred More efficient for Departments Process triggers 60 days after posting Internal Control process Enhances documentation on file for audit

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Zero dollar DPIs are not needed when a transaction is properly associated with a DPI Each transaction must be associated with the correct DPI Transactions cannot be randomly grouped together to clear the transactions out of workflow P CARD WORKFLOW AVOIDING IT

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THE BEGINNING. Workflow triggers 60 days after original transaction date by generating an e-mail notification to PCard holder Provides link to workflow process

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UNRESOLVED P CARD TRANSACTIONS LISTED

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TRANSACTION INFORMATION S1234567

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P CARD WORKFLOW 4 CHOICES Section One Section Two Section Three Section Four

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SECTION ONE Department does not have to research document numbers. Most efficient. Validated with automated process. Most efficient. Best Practices for DPEZ and PCard transactions. (20)

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SECTION TWO OOPS, I FORGOT! Department must identify DZ document where transaction should have been reported. HSC must review original PCard transaction and DZ indicated to confirm related items. System inserts records in DZ Banner Record.

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BEFORE AFTER

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SECTION TWO OTHER CONSIDERATIONS Do not create a zero pay DPI if the traveler has already received reimbursement Create zero pay DPI only if there are no payments being made to the traveler Include All Transactions on one document Attach receipt documentation Obtain department signatures confirming business purpose of the travel Forward to HSC Financial Services for document retention

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SECTION THREE THE SNOOZE BUTTON Defer process as travel occurs in the future. Workflow will generate again AFTER travel date indicated by PCard holder. Can clear with automated data validation process. in (20)

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SECTION FOUR NOT TRADITIONAL TRAVEL Automated process generated based upon vendors MCC or merchant commodity code. Brief explanation of expense/business purpose needed. Reviewed and approved by PCard Manager. This hotel charge was a conference room charge for a UNM sponsored Medical Seminar on 2/12/12.

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Andrea Rodgers

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IT

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Online demonstration of this process: it.unm.edu/help.unm IT RESOURCES

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ACCESSING IT HELP

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ANY QUESTIONS?