University business managers and departmental personnel should review the following fiscal policies which have been updated effective June 1, 2016. These policies can be accessed by the links below or at the System Policy website at http://policy.tennessee.edu/fiscal_policy/.
Departments are requested to stop sending emails requesting CBO approval of paper and/or electronic (IRIS) documents. All documents are reviewed on a regular basis and will be processed in a timely manner.
Contract Status Notifications
As most of you are aware, business contract signatures are now being obtained electronically through DocuSign. While DocuSign has been a great tool in obtaining signatures more timely, it has made it very difficult for the Business Contracts Office to maintain the most current contract status in IRIS. To ensure the departments are better informed, notifications will be sent via DocuSign to the contract originator at the point when the contract is forwarded for University approval/signature and when the contract is executed. For identification purposes, the contracting party's name and contract number will be provided in these notifications. If you have any questions, please contact the Business Contracts Office at 448-2072.
There will be virtual training sessions for the UT Market Place. These sessions will cover the basics of processing an order with the new system. Sessions will be held on June 15 (2 PM EST/1 PM CST – 3 PM EST/2 PM CST) and June 22 (2 PM EST/1 PM CST – 3 PM EST/2 PM CST). Click here to sign up for one of the sessions (https://www.volunteersignup.org/XHFPW).
Please note that “FOB,” when used in U.S. domestic shipping, is not insurance and does not include insurance. In domestic shipping, “FOB” determines who pays the freight and assigns the “risk” or claim responsibility in the event of damage during shipment. Because many people mistakenly believe that FOB shipping terms include insurance, we now ask departments to advise us whether to pursue verifying or obtaining an insurance quote from the supplier. If there is additional cost, this will be passed on to the department and added to the purchase order. For all bids issued after June 10, 2016, we will request this information during the bid process. It will be your responsibility to determine if you want it added (applicable cost) to any subsequent purchase order.
Following is a link to the UT Procurement webpage that lists all of the current Framework Orders, which are available System Wide. UT is working to only have one Framework Order for all campuses to use instead of having campuses and/or department-specific Framework Orders. This list has been updated and includes all new framework orders. http://purchasing.tennessee.edu/contracts_by_vendor_name.html.
General Stores Inventory Closing June 27 thru June 30
Deadline for placing an order through General Stores is 4:00 p.m. on June 23 for delivery by Friday, June 24. Merchandise can be picked up until 5:00 p.m. on June 24. Special order items from all vendors must be placed by 2:00 p.m. on Tuesday, June 21. Orders for refrigerated or frozen items not in stock in General Stores must be placed by 2:00 p.m. on Wednesday, June 22.
Please note the most effective and efficient way to place an order, check pricing and to check availability is through the General Stores web page at http://www.uthsc.edu/gen_store/.
FY 2016 Processing Deadline Dates
Please remember that our objective is to record all revenues, disbursements and encumbrances in the proper fiscal year. You can access the document listing each of the year-end processing deadlines at http://www.uthsc.edu/finance/documents/fy2016-processing-dates.pdf. Each item must be received in the appropriate office by close of business on the date listed to be posted in FY 2016. It is imperative that you adhere to the published deadlines. Your assistance in closing out the year will be appreciated.
May 2016 - Period 11
The accounting period for May 2016 closed on June 8 and ledgers are now available.
Dates for the July - December 2016 Campus-Wide Business Managers meetings have been confirmed and are listed below:
July 21, 2016 1:30 - 3:00 PM GEB A104
August 18, 2016 1:30 - 3:00 PM GEB A104
September 15, 2016 1:30 - 3:00 PM GEB A104
October 20, 2016 1:30 - 3:00 PM GEB A104
November 17, 2016 1:30 - 3:00 PM GEB A104
December 15, 2016 1:30 - 3:00 PM GEB A104
The meeting schedule frequency was changed to monthly in anticipation of the entity change effort. If the meeting is not needed for a particular month, it will be cancelled but we would like to make sure these meetings are included on everyone's calendar. Please note these dates/times are subject to change. A reminder notice will be sent prior to each scheduled meeting.