The Gateway Journal Newsletter

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Fiscal updates for Virginia Tech employees

May 9, 2013

Welcome to the Virginia Tech Foundation's newsletter, "The Gateway Journal"! The function of this publication is to keep those departments who do business with the foundation informed of changes, policy announcements, and other relevant information.

The journal will be published on an as needed basis. If you would prefer not to receive future editions of this newsletter, you may unsubscribe here. If you would like to share this newsletter with others, they may subscribe here.

FY 2013 Year End Schedule

Friday, 6/14/13

• Last day to submit disbursement vouchers and requests for payment, which are to be charged to FY 12-13 funds.

Wednesday, 6/19/13

• Last day to submit requests to establish new funds in FY 12-13.
  
• Last day to submit corrections (journal entries) and requests for fund transfer for FY 12-13.
• Last day to submit other income deposits to be credited to VTF funds in FY 12-13.
• Last day to submit to University Development 'Gift in Kind' forms and deposits, which are to be credited to VTF funds in FY 12-13.

Monday, 7/1/13

• FY 14 open in Banner and balances from FY 13 will be rolled forward by this date.
• FY 13 balances will be continually updated as transactions are posted to FY 13 during the month of July.

Tuesday, 7/23/13

• Target date for final close of FY 13. Final FY 13 reports should be run after the final close to ensure funds are reconciled to the true ending balance. A notice will be posted to our web page when FY 13 is closed.

Web Report Update

Enhancements have been made to the 'VTF Fund Information' report to allow users to list individuals that have inquiry access to funds.

'Inquiry Users' are individuals who can see fund activity in VTF Banner or related reports. This option is in addition to the pre-existing 'Authorized Users' option which lists individuals that have signature authority on funds. Departments are encouraged to use this new feature to review the visibility of fund activity and to request appropriate adjustments to VTF Banner security when necessary. It should be noted that the list of inquiry users excludes those users that have access to funds for administrative purposes (VTF accounting staff for example).

Lastly, since the report parameters have changed, any saved parameter sets in the Web Report Submission system will need to be rebuilt to match the new report’s inputs.

Departmental Training

Over the past year, members of the foundation staff have visted several university departments in order to help them have a better understanding of what the foundation does and how it works. If your department is interested in having us for a visit, please contact Julie Rosenberger at julie.rosenberger@vt.edu or at 231 - 2926.

Frequently Asked Questions

• Yes. If a university department utilizes BANNER activity codes, those codes are available for use within VTF BANNER without any further action. If your department would like to utilize activity codes on foundation transactions, please ensure that those codes are included on the documentation (RFP, Request for Transfer, et cetera) that is sent to the foundation for processing.

Other News:

• The FY 2013 year-end closing schedule is now available for download.
• The newly re-branded North End Center will soon become home to several university departments.
• View All News>>.

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Fiscal updates for Virginia Tech employees

Saturday, May 25th, 2013

Welcome to the Virginia Tech Foundation's newsletter, "The Gateway Journal". The function of this publication is to keep those departments that do business with the foundation informed of changes, policy announcements, and other relevant information.

The journal will be published on an as needed basis. If you would prefer not to receive future editions of this newsletter, you may unsubscribe here. If you would like to share this newsletter with others, they may subscribe here.

Income to Principal Policy

Effective July 1, 2013, each department will be responsible for preparing reinvestment of income to principal journal entries for their endowment funds. A form(s) is being developed specifically for this purpose and will be available on our website. If the foundation has been preparing these entries for you, someone will be in touch with your department to guide you through the process. A list of these funds will be provided to each department in order to implement this change.

FY13-14 Endowment Payout

The foundation endowment payout memo for fiscal 2013-2014 is now available for download.

Student Organizations Policy

As a reminder, the foundation is unable to hold accounts, accept contributions, or make disbursements to or on behalf of RSO or ECSO student organizations (defined in University Policy 8010). If you have specific questions concerning this, please contact Julie Rosenberger at julie.rosenberger@vt.edu or at 231 - 2926.

Departmental Training

Over the past year, members of the foundation staff have visited several university departments in order to help them have a better understanding of what the foundation does and how it works. If your department is interested in having us for a visit, please contact Julie Rosenberger at julie.rosenberger@vt.edu or at 231 - 2926.

Did You Know.....

...the foundation has just rebranded two of its properties to be named North End?

Read more here>>

Frequently Asked Questions

• Foundation to Foundation Transfers: Use the Request for Funds Transfer form
• Foundation to Sponsored Program Transfers: Use the Attachment A form
• Foundation to Virgnia Tech Transfers: Use the Request for Payment form and a deposit ticket

Other News:

• VT Students Create Building Plan for Reynolds Homestead
• VTF 2012 Annual Report
• View All News >>

| Subscribe | Unsubscribe | VTF Website | News | Links/Webcams | Newsletter Archive | Procedures | Careers |

Having Trouble Viewing Our Email? Click Here to View it in Your Web Browser.

Fiscal updates for Virginia Tech employees

Saturday, May 25th, 2013

Welcome to the Virginia Tech Foundation's newsletter, "The Gateway Journal". The function of this publication is to keep those departments that do business with the foundation informed of changes, policy announcements, and other relevant information.

The journal will be published on an as needed basis. If you would prefer not to receive future editions of this newsletter, you may unsubscribe here. If you would like to share this newsletter with others, they may subscribe here.

Student Organizations

Due to the lack of direct relationship with the university, the foundation is unable to hold accounts, accept contributions, or make disbursements to or on behalf of RSO or ECSO student organizations.

For the full policy, please see The Faculty/Staff Procedures Guide on our web site.

United Way Silent Auction

The foundation will be holding its annual United Way Silent Auction on November 14th from 9 AM – 3 PM, on the first floor of the University Gateway Center Building. Bid on hotel stays, rounds of golf, gift certificates to local restaurants and many other great items. Start your holiday shopping early! All proceeds go to benefit the United Way of Montgomery, Radford and Floyd.

Departmental Training

If your department would like to learn more about the foundation in general, please contact Julie Rosenberger at 231-2926 or julie.rosenberger@vt.edu to set up a meeting time. If you have other training needs, please submit your request using the training request form on our web site.

Web Report Enhancements

Enhancements have been made to the 'VTF General Ledger Balance and Transactions' and 'VTF Operating Ledger Transactions' reports to allow the user to input one or more program codes or fund types as parameters. This will enable, for example, reports to be run for only endowed scholarship funds (program codes '10400' and '10401' and fund types '6J','6K', and '8Y').

An additional improvement has been applied to the 'VTF Operating Ledger Transactions' report to allow data to be restricted to a specific fiscal quarter.

Updated New/Change Fund Request Form

In an effort to standardize all foundation forms, the New Fund/Change form is the latest to be reformatted. The new version of the form is now available for download on the foundation website.

Web Distribution Authentication to be Required

Beginning November 8th, system changes will be put into place to provide additional security for foundation web reports. At this time, users that submit foundation web reports will be required to log in to web distribution using their PID to retrieve the output. The PID being used must be the user that submitted the report or match one of the recipients in the distribution list. Please note that other users not on the Web Report Distribution system's distribution list for the report will not be able to view the authenticated output files.

Did You Know.....

...the Virginia Tech Foundation owns approximately 2,000,000 sf and over 1900 acres of real estate?

The foundation owns approximately 2,000,000 sf and over 1900 acres of real estate including a research center, a historic hotel, a golf course, a rock quarry, academic buildings, office buildings, shopping centers, parking garages, a swiss villa, a radio station, and land. The foundation develops and manages these real estate assets to support university initiatives.

Frequently Asked Questions

• Foundation to Foundation Transfers: Use the Request for Funds Transfer form
• Foundation to Sponsored Program Transfers: Use the Attachment A form
• Foundation to Virgnia Tech Transfers: Use the Request for Payment form and a deposit ticket

Other News:

• Foundation Publishes Book to Benefit Scholarship
• University of British Columbia Team Wins Third Annual VT KnowledgeWorks Global Student Challenge
• View All News >>

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Fiscal updates for Virginia Tech employees

Thursday, May 31st, 2012

Welcome to the Virginia Tech Foundation's newsletter, "The Gateway Journal". The function of this publication is to keep those departments that do business with the foundation informed of changes, policy announcements, and other relevant information.

The journal will be published on an as needed basis. If you would prefer not to receive future editions of this newsletter, you may unsubscribe here. If you would like to share this newsletter with others, they may subscribe here.

FY 2012 Year End Schedule

The year-end closing dates for deposits, disbursements, establishing new funds, and corrections to foundation funds are listed below. Documents which are received after the dates listed will be processed in 12-13 fiscal year.

Friday, 6/15/12

• Last day to submit disbursement vouchers and requests for payment, which are to be charged to FY 11-12 funds.

Wednesday, 6/20/12

• Last day to submit requests to establish new funds in FY 11-12
  
• Last day to submit corrections (journal entries) and requests for fund transfer for FY 11-12.
• Last day to submit other income deposits to be credited to VTF funds in FY 11-12.
• Last day to submit to University Development, 'Gift in Kind' forms and deposits, which are to be credited to VTF funds in FY 11-12.

Monday, 7/2/12

• FY 13 open in Banner and balances from FY 12 will be rolled forward by this date.
• FY 12 balances will be continually updated as transactions are posted to FY 12 during the month of July.

Monday, 7/23/12

• Target date for final close of FY 11-12. Final FY 12 reports should be run after the final close to ensure funds are reconciled to the true ending balance. A notice will be posted to our web page when FY 12 is closed.

To avoid delays in processing, please forward paperwork daily. We would appreciate receiving your requests as soon as possible to better manage our year end workloads. Prior to forwarding documents to VTF please make certain that funds are available to cover disbursements, supporting documentation is attached, and appropriate signatures are secured on all transactions.

We appreciate your cooperation, and should you have any questions please call VTF Accounting at 231-2858.

Web Report Enhancements

Enhancements have been made to the 'VTF Fund Cash Balance Summary' and 'VTF Operating Ledger Transactions' reports to allow the user to input one or more program codes as parameters. This will enable, for example, reports be run for only scholarship funds (program codes 10400 and 10401).

Reminder: New Request for Payment Form

The old RFP form was discontinued as of May 1 please use the new RFP form (found here) when submitting payment requests. If a request is sent on an old form, it will be returned to be completed on the new RFP form.

Also note that RFP forms should be submitted to the VTF accounting office at mail code 0354.

New Other Income Deposit Form

In an effort to enhance internal controls, a new "Other Income Deposit" form is now available for use here. The old form will be discontinued on June 1, 2012.

Activity Codes on VTF Forms

For those departments that are utilizing activity codes, a space to provide this information has been added to the "Other Income Deposit" form.

Procedure Updates

1. Procedure for Payment Requests updated on 5/23/2012
   Information added for gift card/certificates. Full policy available in the procedures section of our website.

Future Topics

If you would like to see a topic covered in a future newsletter, please submit your suggestion using the contact form on our site.

Other News:

• SEED Advisor Awarded Prestigious 2011 William E. Wine Award
• WVTF Public Radio Opens New River Valley News Bureau
• Winner Announced in VT KnowledgeWorks First Annual Tech Transfer Challenge
• View All News >>

| Subscribe | Unsubscribe | VTF Website | News | Links/Webcams | Newsletter Archive | Procedures | Careers |

Having Trouble Viewing Our Email? Click Here to View it in Your Web Browser.

Fiscal updates for Virginia Tech employees

Wednesday, March 28th, 2012

Welcome to the Virginia Tech Foundation's newsletter, "The Gateway Journal"! The function of this publication is to keep those departments who do business with the foundation informed of changes, policy announcements, and other relevant information.

The journal will be published on an as needed basis. If you would prefer not to receive future editions of this newsletter, you may unsubscribe here. If you would like to share this newsletter with others, they may subscribe here.

Personally Identifying Information (PII)

In accordance with the established policy regarding personally identifying information (PII), all university and foundation information must be handled with the appropriate security and access controls with attention to safeguarding confidentiality.

As such, if documentation needs to be sent to the foundation that contains PII, please do not include it on any form, but rather supply the information on a separate sheet of paper and transmit it appropriately. If you have any questions concerning PII, please contact the foundation's accounting office at 231-2861.

New Request for Payment (RFP) Form

To enhance the foundation's internal controls, the 'Request for Payment' form has been updated to include information on handling personally identifying information (PII) as well adding an 'Authorized Departmental User' verification statement and signature line.

Departments are encouraged to begin using this updated form immediately and should discontinue use of the old form by May 1st. The revised form is now available on the foundation's website.

FY 2012 Year End Schedule

Friday, 6/15/12

• Last day to submit disbursement vouchers and requests for payment, which are to be charged to FY 11-12 funds.

Wednesday, 6/20/12

• Last day to submit requests to establish new funds in FY 11-12
  
• Last day to submit corrections (journal entries) and requests for fund transfer for FY 11-12.
• Last day to submit other income deposits to be credited to VTF funds in FY 11-12.
• Last day to submit to University Development, 'Gift in Kind' forms and deposits, which are to be credited to VTF funds in FY 11-12.

Monday, 7/2/12

• FY 13 open in Banner and balances from FY 12 will be rolled forward by this date.
• FY 12 balances will be continually updated as transactions are posted to FY 12 during the month of July.

Monday, 7/23/12

• Target date for final close of FY 11-12. Final FY 12 reports should be run after the final close to ensure funds are reconciled to the true ending balance. A notice will be posted to our web page when FY 12 is closed.

Web Report Update

The 'VTF Fund Balance Summary' web report has been recently updated. You will now see any operating funds that are associated with an endowment fund in the "Other" category instead of the "Income" category where they were previously reported.

Procedure Updates

1. 'Requests for Payments' updated on 3/06/2012
   Added PII statement and 'Authorized Departmental User' verification statement and signature line.
2. 'Industrial Affiliate Programs' updated on 3/06/2012
   Updated to reference university policy.
3. 'Other Income' updated on 3/06/2012
   Deleted OSP statement on accepting honorariums for deposit into a foundation fund.

Future Topics

If you would like to see a topic covered in a future newsletter, please submit your suggestion using the contact form on our site.

Other News:

• Turner Street Project to House University Offices and Support Parking Needs
• WVTF Names New Music Director
• View All News >>

| Subscribe | Unsubscribe | VTF Website | News | Links/Webcams | Newsletter Archive | Procedures | Careers |

Having Trouble Viewing Our Email? Click Here to View it in Your Web Browser.

Fiscal updates for Virginia Tech employees

Friday, January 6th, 2012

Welcome to the new Virginia Tech Foundation newsletter, "The Gateway Journal"! The function of this publication is to keep those departments who do business with the foundation informed of changes, policy announcements, and other relevant information.

The journal will be published on an as needed basis and all users with VTF BANNER access will automatically receive this initial newsletter. If you would prefer not to receive future editions of this newsletter, you may unsubscribe here. If you would like to share this newsletter with others, they may subscribe here.

New Foundation Website Launched

A fully redesigned foundation website was recently launched. The new site has an improved look-and-feel, is easier to navigate, and highlights the foundation's support of Virginia Tech.

We thank all of you who provided valuable input during this process and welcome additional comments. If you would like to provide input or have questions concerning the new site, please contact us using our contact form.

Using Banner Activity Codes in VTF Banner

If a university department utilizes BANNER activity codes, those codes are available for use within VTF BANNER without any further action.

If your department would like to utilize activity codes on foundation transactions, please ensure that those codes are included on the documentation (RFP, Request for Transfer, et cetera) that is sent to the foundation for processing.

Web Reports Updates

Recent changes have been made to the General Ledger and Operating Ledger web reports to allow users more reporting flexibility.

The "VTF General Ledger Balance and Transactions" web report now allows a user to report on multiple organization codes.

The "VTF Operating Ledger Transactions" web report also now allows for the entry of multiple organization codes and has a new activity code parameter.

Express Purchase Orders (EPO)

Please note that a "Request for Payment" form must accompany any "Express Purchase Order" forms submitted to the foundation for payment of invoices.

EPOs can be completed for purchases less than $2,000. The foundation does not require EPOs and they should be used only if a vendor requires them.

Future Topics

If you would like to see a topic covered in a future newsletter, please submit your suggestion using the contact form on our site.

Other News:

• VT KnowledgeWorks and Business Technology Center to Merge
• VTF Endowment Performance Earns Award for Excellence
• View All News >>

| Subscribe | Unsubscribe | VTF Website | News | Links/Webcams | Newsletter Archive | Procedures | Careers |