1. February 2015 Division of Finance1

2. Agenda Miscellaneous receipts PCPS staffing updates Recent procurement changes and upcoming projects PCard and payment updates and reminders Division of Finance2

3. Anjali Halabe, Assistant Vice President for Finance Lisa Lively, Director of Financial Services Division of Finance3

4. Significant Finding What is it? A significant issue identified during the annual financial statement audit by the external auditor that results in misstatement of financial statements. Requires University management to implement a corrective action plan before the next audit. Division of Finance4

5. Significant finding from fiscal year 2014 audit Some revenue earned by the WVU Research Corporation was not recorded and reported in the correct fiscal year. Some revenue earned during fiscal year 2013 was recorded in fiscal year 2014. Amount of misstatement $198,000. Some revenue earned during fiscal 2014 was recorded in fiscal year 2015. Amount of misstatement $69,000. Revenue is considered “earned” in the fiscal year the services or goods are provided by WVU to an outside party, regardless of when payment is received. Examples Division of Finance5

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11. Corrective Action Plan For miscellaneous receipts posted during July, August and September, please provide to Revenue Services: Division of Finance11 All miscellaneous receipts posted in MAP during July, August and September Provide – In the comments field of the miscellaneous receipt, indicate the fiscal year to which the deposit applies – determine whether goods or services were provided by your department to an outside party before June 30 th. If yes, even if the check is deposited in the months of July, August or September, the fiscal year it relates to would be the prior year that ended June 30 th. In the comments field of the miscellaneous receipt, include a brief description of what the deposit is for. Miscellaneous receipts posted in MAP during July, August and September that equal or exceed $5,000 Provide – In the comments field of the miscellaneous receipt, indicate the fiscal year to which the deposit applies – determine whether goods or services were provided by your department to an outside party before June 30 th. If yes, even if the check is deposited in the months of July, August or September, the fiscal year it relates to would be the prior year that ended June 30 th. In the comments field of the miscellaneous receipt, include a brief description of what the deposit is for. Provide/scan documentation (copy of invoice and check) to Revenue Services at the following e-mail address RevenueServices@mail.wvu.eduRevenueServices@mail.wvu.edu

12. Corrective Action Plan If you deposit multiple checks on a single miscellaneous receipt, please separate them by fiscal year. Note that for all such miscellaneous receipts, cash will be deposited and recorded in the new-year. Accounting & Reporting will manually record the revenue and receivable in the appropriate year for accurate financial reporting. Importance of following funds handling procedures Audience – who else should we communicate this to? Division of Finance12

13. David Beaver, Assistant Vice President Brance McCune, Senior Associate Director Division of Finance13

14. PCPS Staffing Updates Brance McCune promoted to Sr. Associate Director New Full-Time members:  Fran Jones- Procurement  Cathy Cobb- Procurement  Tiffany Newcomb- Procurement  Melissa Dalton- Payment Services  Sara Harvey- Payment Services Created two new groups within PCPS  Supplier Performance Management  Procurement Systems Team Division of Finance14

15. Recent Procurement Changes & Upcoming Projects EBO Requisition Dashboard Small Purchasing Group  Cycle Time Reductions Electronic Bid Acceptance Change in rules around legal postings of upcoming bids posted in newspapers Electronic Record Keeping  Digitized all PO’s (750K records converted to electronic format)  Only paper copies are active PO’s and Contracts All contracts now stored in WVUBUY Working with B&E and teaching GSCM 470 Class Follow us on Twitter Division of Finance15

16. Recent Procurement Changes & Upcoming Projects Established WVU 7 Step Strategic Sourcing Process Upcoming Sourcing Projects  Office Supplies  MRO Supplies  Printing  Food  Cellular  Audio Visual  Rental Cars Upcoming Projects  WVUBUY Integration into MAP  PCPS Website Upgrade  Spend Analytics Tool  Prepaid Card Solution Division of Finance16

17. Recent Procurement Changes & Upcoming Projects Upcoming Projects (cont.)  Travel Redesign  Updating Procurement Manual Changes to Essential Services and Sole Source rules Better direction on how to buy (when to use PCard and when to use WVU Buy) Who can sign contracts Use of consortium/group purchasing agreements where appropriate Hot Topics  Too Many Confirming Orders  Large Dollar Orders Off of PCards  Too Many Contracts signed without Procurement or Legal review Division of Finance17

18. Rachel VanScoy Hays, Associate Director of Payment Services Division of Finance18

19. PCard Program Updates Chip and Pin cards PayPal approval no longer required Association dues no longer require Admin & Finance review Record Retention  May destroy paper receipts from FY2009 and earlier  Does not include grant funded items or items included in litigation holds Division of Finance19

20. State PCard Utilization Study Division of Finance20

21. State PCard Utilization Study Results so Far: 16 EBO’s Division of Finance21

22. PCard Reconciliation Reminders Please email requests for funding additions in Citi before cut off Foreign travel PCard transactions  Insert country name in “Expense Description” Notify PCard Review of any personal charges or other violations Division of Finance22

23. PCard Reconciliation Reminders Expired cardholder training and agreements Increase in external fraudulent attempts  Do not close card unless transaction is posted on your PCard Submit an invoice or quote if requesting single transaction limit over $5,000 Follow up maintenances to lower cards after temporary increase Convenience fees- can only accept flat rate, not % of purchase Division of Finance23

24. Payment Reminders: Employee Recognition & Retirement Employee recognition  $25 per employee per fiscal year  Light refreshments, meals or mementos  Not a hospitality event Retirement gifts  $100 limit if purchased with state funds  Plaque or commemorative item only  Meals, food, or beverages must be paid with private funds  Applies to: retiring, returning to private sector, or transferring to another agency  Not a hospitality event Division of Finance24

25. Payment Reminders: Hospitality Allowable:  Meetings with external parties/candidates  Student recruitment  Non routine events  Emergency situations  Formally organized business meetings involving multiple units (at least ½ day, with an agenda) Unallowable:  Staff/departmental meetings  Employee training events  Employee recognition/awards  Going away/retirement parties  Holiday parties  Promotion parties Division of Finance25

26. Payment Reminders: Travel & Employee Reimbursements W9 is not required for employees  Unless paying a RC employee with State funds Employee does not need to handwrite the address  Need to verify that the address is correct Travel authorizations do not need to be kept with each PCard receipt  Can keep authorization with one receipt and then reference on the remaining receipts Division of Finance26

27. Payment Reminders: Payment Terms Average time between MAP invoice entry and payment date:  18,771 state funded invoices processed in FY15 so far  6 days for invoices less than $5,000  15 days for invoices over $5,000 When requesting rush pays:  Clearly note rush request on the invoice  Emergencies- coordinate with PCPS via phone/email Division of Finance27

28. Payment Reminders: Things That Delay Payment Vendor is not registered Employee’s address on reimbursement does not match HR Receiving has not be completed Signatures are not provided when required Original documentation (i.e. travel receipts) missing Division of Finance28

29. Need Help? Contact us at: pcps@mail.wvu.edu procurement@mail.wvu.edu 293-5711 Option 8: questions about invoice status Follow us on Twitter: @wvupcps Division of Finance29