*** UCIO Financial News ***

University News and Announcements

Acquisition of GE Corporate Payment Services
American Express will acquire the corporate payment services division of GE Money. A meeting between the University’s Office of Financial Services (OFS), the President of American Express, and the President of GE is scheduled to discuss the operational and financial impact of the acquisition, after which a communication regarding the status of the University’s GE Corporate Card and PCard programs will be sent to all UCIO staff.

Important Dates and Reminders

FY08 Capital Expenditures

The University deadline for closing FY08 capital assets/loans is Friday, June 6, 2008. Please plan accordingly and be sure to:

• Complete and submit the Capital Project Approval Form (e.g. Form 1) to your Business Director for approval of each planned capital asset purchase prior to purchasing equipment. The Executive Director’s approval is also required if cost of capital asset is greater than $10,000 (>$5,000 for OAS).
• Please remember to leave enough time to order, receive, and pay for equipment by June 6^th. Submit all capital related invoices to Accounting with proper coding for payment prior to May 23^rd, which should allow sufficient time for processing.

Note: The University can not close an asset by the deadline of June 6, 2008 unless all invoices have been processed and posted to the General Ledger.

• Confirm that all equipment will be operational by June 30^th

Forms and invoices for capital purchases received after the deadlines stated above will be processed in fiscal year 2009. If you have any questions, please contact your financial partner.

Policy Highlights and Updates

60-Days for Expense Reimbursements

The University’s 60 Day reimbursement policy impacts many people within the department; therefore, we will continue to reprint the highlights of this policy on a regular basis.

• While prepaid expenses (for airfare, hotel, conference fees, etc) made with a GE Corporate Card can still be reimbursed in advance, out of pocket prepaid expenses cannot be reimbursed until the trip/event or business expense has taken place.
• Any claim submitted more than 60 days after the completion of the trip/event will be considered taxable (and will not be grossed up) and will be included on your W-2, unless a reasonable exception form has been obtained and approved
• Any claim submitted more than 90 days after the completion of the trip/event will be considered taxable without exception and will not be grossed up
• All claims for expenses left unreported for six months or longer after the completion of the trip/event will not be reimbursed

The full version of the UIS/OAS policy can be found at https://www.uis.harvard.edu/staff/policies/reimbursement.php. If you have any questions regarding this policy, please see your local Web Voucher Approver or your Financial Partner.

Using the latest Version of the Universal Expense Form (UEF)

If you haven’t already done so, please take a moment to download and save the latest version of the UIS/OAS Universal Expense Form (UEF). This form is required for all expense reimbursements, and can be found on our website at https://uis.harvard.edu/staff/finance/forms.php. Reimbursements could be delayed if this version of the UEF is not used.

Helpful Hints

Handling of Universal Expense Form (UEF)

When forwarding a Universal Expense Form (UEF) for authorization, approval, and/or processing, UCIO Financia strongly recommends placing it in an envelope, rather than leaving it uncovered either on a desk or in a mailbox, as the document contains sensitive information. Your cooperation in following this process is greatly appreciated.

We hope that this issue of the UCIO Financial News has been helpful and informative. If you have any questions, or would like to see a specific topic covered in a future publication, please email us at uisfin_news@harvard.edu