Take advantage of Cavalier Computers' employee purchase program, which works via payroll deduction.
Take a look at their website to learn more!
Ready to browse? Shop online.
Monday, December 5, 2022
Wellness Resources December 2022
New Social Well-Being Doman: Hoos Wells recently added a new Social Well-Being domain which includes a variety of resources to help you build your social well-being.
Research shows that building social well-being can reduce stress and enhance health and longevity, and that healthy relationships may be the single most important determinant of happiness.From FEAP
- Fostering the Mental Well-Being of College Age Students
- Sustaining Personal Resilience in Challenging Times
- Train Your Mind, Change Your Life
- Manage Anxious Thoughts & Negative Thinking
- And many more!
Reporting & Analytics Release Notes: December 2
Finance Reporting and Analytics Release Notes are posted on the UVAFinance website for December 2nd. This update includes significant new reports and modifications that have been released in the month of November as well as known issues that we are investigating or working on currently.
See the release notes for December 2
A friendly reminder that you can always find this information and more reporting resources at:
A friendly reminder that you can always find this information and more reporting resources at:
Friday, December 2, 2022
2023 Fiscal Administrators Meeting Schedule Posted
The 2023 Schedule for Fiscal Administrators Meetings has been posted online.
These meetings will remain virtual to encourage the pattern of solid attendance. A Zoom link will be distributed closer to the meeting date.
See the 2023 meeting schedule on the UVAFinance site (under "For Fiscal Administrators).
Add the meetings to your calendar now so you don't miss out!
Tuesday, November 29, 2022
November Account Certification Deadline Moved to January 20
As you may have noted on the Workday Finance Known Issues page, the multi-funding source (MFS) engine is not running properly and is not expected to deliver correct accounting information until mid-December.
As we await a promised fix from our Workday partners, we will not be generating November account certifications on December 1st. We hope to have account certifications distributed by December 15th and are extending the deadline for November Account Certification to close of business on Friday, January 20th. We do not anticipate a change in the timeline for December account certifications.
The monthly close is still Wednesday, November 30
The monthly close is still Wednesday, November 30
November Monthly Close Deadlines have been posted
Find important monthly close deadlines that impact your work on the UVAFinance website: https://uvafinance.virginia.edu/workday-financials/monthly-close-activities
Thursday, November 17, 2022
Five Things to Know about Finance: November 17, 2022
1. Instead of holding Office Hours this November, UVAFinance trainers offer one-on-one time you can that can be scheduled individually. Visit the Workday Finance Training page if you'd like to schedule some Time with a Trainer; just look for the area you need help with!
2. Procurement has altered its payment schedule on November 23-25 to accommodate the Thanksgiving holidays. on the 22nd the AP team will make all payments scheduled through December 2nd. Payments suitable for processing must be fully approved and ready for settlement by 9 am on November 22nd. The daily stabilization payment schedule will reconvene on November 28th.
3. The FST & UVAFinance Team are updating resources and processes related to spend, match exception, old purchase orders, and more on the UVAFinance website.
4. The process for submitting a non-catalog form changes on November 21, moving from Marketplace to Workday. This should help decrease match exceptions and increase prompt payment. Here's a quick reference guide that outlines the new process.
5. VP for Finance Melody Bianchetto announced her retirement effective February 3, 2023. A search committee is being convened to find her successor. We will miss her deeply!
FST Update: November 17, 2022
Time with a Trainer for One-on-One Workday Finance Assistance
We’ve had almost two dozen individual Time with Trainer sessions so far in November. If you find yourself needing some help with Workday and it’s the kind of thing you’d normally have come to Office Hours to sort out, go to the Workday FinanceTraining page and sign up for one on one time with our finance trainers – you can choose the area you need help in, from account certification, to purchase requisitions, to expense reports, and so forth, and get on a trainer’s schedule who has expertise in that.
Multiple FST Resources / Updates
- Spend Issues: We continue to track and report on Spend issues caused by the conversion from Oracle to Workday Financials on the UVAFinance website (match exceptions, old purchase orders, etc.).
- Change to Non-Catalog Form: UVA Procurement is making a change to the process used to submit a non-catalog form by moving the process from UVAMarketplace to Workday. This new form will go into effect on 21 November 2022. This change to the non-catalog form is an integral component of improving our Payables operation. Read more on the blog.
- Fund Balances: During FST, many schools and units participated in optional Fund Balance Realignment activities facilitated by central finance and the project team. Inaccurate fund balances can result in some cases if schools and units didn't participate in the exercise. Users can access the Day in the Life of a Fiscal Administrator (Reporting FAQ) resource to find guidance on which reports can be used to find fund balances.
- Account Certification: We will continue to track issues with Account certification on the UVAFinance website.To help our colleagues with Account Certification while we work on enhancements, we have collected resources and guidance for your convenience. See all the resources listed here on the blog.
- Deferred Items (Updated November 15): The project team is in the process of addressing 51 items that were deferred at go-live. These items represent pre-existing requirements that the team was aware of at go live, as opposed to opportunities for enhancements. You can see the full listing of deferred items, their status, and their impact, on the FST portion of the UVAFinance website (just click on "Full Listing of Deferred Items").
- See also this handy FAQ from the November Fiscal Administrators' meeting, addressing several questions our attendees had about purchase orders, fund balances, reporting, account certification, and more.
UVAFinance In Action: November 17, 2022
Congratulations, Joyce!
Wednesday, November 16, 2022
Procurement Holiday Payment Schedule
Procurement will alter its payment schedule on November 23rd – 25th to accommodate the Thanksgiving holidays.
On November 22nd the Accounts Payable team will make all payments scheduled through December 2nd. Payments suitable for processing must be fully approved and ready for settlement by 9AM on November 22nd. The daily stabilization payment schedule will reconvene on November 28th.
This schedule is made available to help you prepare in advance for the handling of your payments. To review the status of a payment, please search Find Supplier Invoices and Find Payments in Workday.
Thank you for your cooperation and understanding, and have an enjoyable holiday!
This schedule is made available to help you prepare in advance for the handling of your payments. To review the status of a payment, please search Find Supplier Invoices and Find Payments in Workday.
Thank you for your cooperation and understanding, and have an enjoyable holiday!
Reminder: UVAFinance Compliance Calendar
The UVAFinance Compliance Calendar was migrated from Sharepoint to Salesforce this summer and went live last week. Everything from policy review cycles, UAO Certifications, and other compliance tasks can be assigned, tracked, and "reminded" within Salesforce.
Instructions for accessing the Compliance Calendar tasks in Salesforce can be found in the Quick Links in the bottom left corner of Salesforce.
Fund Balances: Finding Clarity
During the Finance Strategic Transformation project, many schools and units participated in optional Fund Balance Realignment activities facilitated by central finance and the project team. Inaccurate fund balances can result in some cases if schools and units didn't participate in the exercise.
To help with this, we're in the process of developing a fund balance mini-course, and users can also access the Day in the Life of a Fiscal Administrator (Reporting FAQ) resource, which includes guidance around which reports to use to view fund balances.
Tuesday, November 15, 2022
Change to Non-Catalog Form Effective November 21
UVA Procurement is making a change to the process used to submit a non-catalog form by moving the process from UVAMarketplace to Workday.
This decision comes after much research and discussion. We piloted the change with a focus group of super-users across UVA grounds and the feedback was very positive.
This new form will go into effect on 21 November 2022. This change to the non-catalog form is an integral component of improving our Payables operation. We understand that this transition has the potential to affect each department's daily operations greatly and are committed to supporting you through the transition.
Why are we making this change?
Moving the non-catalog form from UVAMarketplace to Workday will allow us to use the service line functionality in Workday. This means that if you are purchasing a service, you can create a service line instead of a goods line. The service line allows for an unlimited number of invoices to be matched against the line until the funds run out.
By using service lines, we will be able to decrease our match exceptions by 25% which will improve prompt payment to suppliers and decrease the administrative burden on both central and department employees who resolve match exceptions.
What is the change impact?
The foremost change impact on end users is the assign cart functionality is no longer available for non-catalog orders. If you or members of your department use the non-catalog form to assign the cart to a fiscal administrator, this will not be possible for non-catalog forms after November 21st. This functionality will remain for all catalog orders using a punchout or hosted catalog.
How can you make the transition successful?
- Review this QRG that outlines the new process.
- View this list of department individuals who were at the demo of this process to find your internal point of contact for this change.
- If you or members of your department often assign non-catalog carts to fiscal administrators, your business operations may need to be adjusted. End users may request the Procurement Shopper role using the Security-Based Access Request in Workday and completing the required training. This will allow them to have access to the new non-catalog form in Workday and to submit their own carts.
- Communicate this change to affected end users in your organization so they are prepared for the transition
Expanding Opportunities for Local, Minority-Owned Businesses
Procurement & Supplier Diversity Services continues to work toward the goals outlined in an ambitious three-phase plan that aims to double the percentage of local and minority-owned business partnering with UVA and raise University spending with local businesses by 10% by 2025.
The plan, which you can read more about in detail on UVAToday, was developed in partnership with the University of Virginia's Local Economy Working Group.
Mark Cartwright, Director of Supplier Diversity, explains that as a part of the plan, the approximately 300 local certified small, women, and minority-owned businesses with which UVA currently does not have a working relationship will be analyzed, surveyed, and triaged to determine the best path forward in the business relationship.
Says Cartwright, "it's a matter of determining whether they provide products or services that the university procures, whether they have interest in doing business with UVA and whether they have the capacity and scale to work with UVA. For those businesses with an interest in selling to the university but lacking current capacity, we’ll try to connect them to the appropriate resources to get them better prepared to service the university.”
Using the information collected during the early stage of the project, Supplier Diversity will then take some concrete steps with UVA's schools and business units to reach the goals set out in the plan. Cartwright and his team have plans for outreach across Grounds that include sharing data, making connections, and increasing visibility within the SWaM business community.
The UVA community can expect more useful developments resulting from this plan as 2022 draws to a close and 2023 begins.
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Related Content: The President's Council on UVA/Community Partnerships ; UVA Partners with SupplierGATEWAY
Data Analysis, Funding Strategy Support Capital Project on Grounds
UVAFinance’s work across Grounds can often be behind-the-scenes but sometimes it is front and center, such as right at the Emmet-Ivy entrance corridor.
A new hotel and conference center and the School of Data Science will anchor the 15-acre area to serve as a central point to University Grounds, as well as an entrance corridor for visitors to the University.
With any University capital project, UVAFinance is involved in helping manage the identified funding sources, such as state funding, cash reserves, gifts from donors, and debt.
“This project is unique in that it is direct revenue generating,” says UVA Treasurer Julie Richardson. “The hotel and conference center, when fully operational, will provide income through overnight lodging, meeting and event facilities, and food and beverage.”
With revenue generating projects, UVA Treasury looks at the projected timing and availability of revenues to access debt sources, in a strategic manner. The strategy is in analyzing cash flow for the business, consider asset operating costs, reserves and revenue assumptions.
“This project took a lot of data analysis and evaluating a variety of loan structures,” Richardson says. “We carefully analyzed the type of debt we could access and calculated the projected revenue and timing to support the debt service.”Generally, UVAFinance is involved in identifying capital sources for building projects around the time that it is being developed to present to the Board of Visitors’ Building and Grounds Committee. Richardson and team run scenarios on sequencing and sizing of multiple funding sources. This information helps leadership make decisions on the financial structuring of projects.
In 2021, the Board of Visitors approved the designs for the state-of-the-art, 223,000-square-foot hotel and conference center.
“Construction timing of all capital projects is important, but it was even more so with the hotel and conference center building,” Richardson explains. “We developed a timeline on when we expect specific revenue and how the loans would be structured. Essentially, we are making an investment that we want to benefit the entire University Community.”
The hotel construction is estimated to be completed by spring 2025 with an opening planned for later in the summer. The hotel and conference center will be open to the public and will facilitate University events and gatherings. The 214-room hotel also will offer approximately 25,000 square feet of conference center space and provide the University convenient, centrally located accommodations for visiting scholars and lecturers, prospective faculty members and students, returning alumni, career recruiters and other visitors.
A new hotel and conference center and the School of Data Science will anchor the 15-acre area to serve as a central point to University Grounds, as well as an entrance corridor for visitors to the University.
With any University capital project, UVAFinance is involved in helping manage the identified funding sources, such as state funding, cash reserves, gifts from donors, and debt.
“This project is unique in that it is direct revenue generating,” says UVA Treasurer Julie Richardson. “The hotel and conference center, when fully operational, will provide income through overnight lodging, meeting and event facilities, and food and beverage.”
With revenue generating projects, UVA Treasury looks at the projected timing and availability of revenues to access debt sources, in a strategic manner. The strategy is in analyzing cash flow for the business, consider asset operating costs, reserves and revenue assumptions.
 |
| (Deborah Berke Partners/Hanbury Architects) |
In 2021, the Board of Visitors approved the designs for the state-of-the-art, 223,000-square-foot hotel and conference center.
“Construction timing of all capital projects is important, but it was even more so with the hotel and conference center building,” Richardson explains. “We developed a timeline on when we expect specific revenue and how the loans would be structured. Essentially, we are making an investment that we want to benefit the entire University Community.”
The hotel construction is estimated to be completed by spring 2025 with an opening planned for later in the summer. The hotel and conference center will be open to the public and will facilitate University events and gatherings. The 214-room hotel also will offer approximately 25,000 square feet of conference center space and provide the University convenient, centrally located accommodations for visiting scholars and lecturers, prospective faculty members and students, returning alumni, career recruiters and other visitors.
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