The Gateway Journal Newsletter

Fiscal updates for Virginia Tech employees

Volume 2, Issue 2

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The Gateway Journal

Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

May, 2014

In This Issue:

  • Credit Card Statements
  • Other Income Deposits
  • Gift Transaction Descriptions
  • VTF Banner & CAS
  • Year End Schedule
  • StellarOne Customers
Request Topic News Contact Us

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.

Credit Card Statements

When submitting credit card statements to the foundation as documentation, please remember that we cannot accept statements with visible credit card numbers.

The foundation recommends that all instances of the card number be covered and a photo copy made. Then the 'clean' copy should be submitted with the paperwork and the original statement destroyed.

Other Income Deposits

When sending Other Income Deposit forms to the foundation, please make sure that you include the preparer's signature as well as documentation to substantiate the deposit. This will expedite the processing of these forms.

If sufficient documentation is not included or the form is not signed appropriately, you will be contacted for more information and the form returned if necessary before processing. Please also make sure you are using the most current version of the form. If you have questions please contact Erin Carter at (540) 231-2507 or Todd Smith at (540) 231-7168.

Gift Transaction Descriptions

To further protect sensitive information, the foundation has removed unnecessary personal data from gift related transaction descriptions.

In particular, transaction descriptions that contained a full name alongside the university generated ID number have been updated to contain only the generated ID, as much of the last name as possible, and the word 'CONFIDENTIAL' when appropriate to honor the individual's preference.

VTF Banner & CAS

VTF Banner will now be accessible via CAS which is a single sign-on service providing access to a number of foundation and university sites. When using CAS, after an initial log in, you can access any system using this service without having to provide user account credentials again.

To access VTF Banner using this service, use the links listed at http://banner.vt.edu. Note that the first time you access foundation Banner through CAS you will be prompted to enter your VTF Banner password. After this initial login, CAS will securely store your credentials and automatically use them for future connections.

FY 14 Year End Schedule

As a reminder, the foundation accounting office's year end schedule has been posted to our website. The year-end closing dates for deposits, disbursements, establishing new funds, and corrections are included in this document.

StellarOne Customers

As you are likely aware, Union First has completed its acquisition of StellarOne Corporation. If you were a StellarOne customer and are now a Union First customer, you will need to fill out a new Virginia Tech Foundation Direct Deposit Enrollment form and return it to the foundation as soon as possible to ensure future deposits are processed correctly.

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The Gateway Journal is a publication of the Virginia Tech Foundation, Inc.

Volume 2: Number 1

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The Gateway Journal

Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

December 13, 2013

In This Issue:

  • Holiday Clolsing
  • Expenses Related to Sun Bowl Game
  • Non-employee Travel Vouchers
  • Did You Know...
Request Topic News Contact Us

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.

Holiday Closing

The foundation will be closed December 23 – January 1, and will re-open on January 2. If a department has an emergency, please call 231-2858, and leave a detailed message, and someone will get back to you within 24 hours (Please note that messages will not be checked Dec. 23 – 25).

Expenses Related to December 31st Sun Bowl Game

Any request for payments related to Sun Bowl expenses must be received in the VTF Accounting Office by Monday, December 16, in order to allow adequate time for establishing new vendors and processing of payments related to bowl game expenses . The RFP form will need to be marked “SUN BOWL” at the top of the page in bold red letters so that Foundation staff will be able to easily identify these items and give them priority. Any requests which are for new vendors should include a W9 form completed by the vendor to prevent delays in processing.

Non-employee Travel Vouchers

The foundation requires that tax documents (W-9s for US citizens) be submitted along with requests for travel reimbursements for individuals who are not employed by Virginia Tech (except for employment interviews). Since no W9 is required for reimbursements related to university employment interviews, the purpose of the travel reimbursement should be clearly indicated on the reimbursement request.

Did You Know?

The Virginia Tech Corporate Research Center advances the research mission of Virginia Tech by helping to create research relationships between companies at the research park and the university. (Learn More )

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The Gateway Journal is a publication of the Virginia Tech Foundation, Inc.

Volume 1: Number 7

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The Gateway Journal

Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

June 28, 2013

In This Issue:

  • Gift-In-Kind Form
  • Income to Principal Form
  • New Request for Payment Form
  • Other Income Deposits
  • Did You Know...
  • FAQs
Request Topic News Contact Us

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.

Gift-In-Kind Form

The foundation has issued a new Gift-in-Kind form and the form will be required for all new Gift-in-Kind donations beginning 7/1/13. The new form addresses Export and Secure Research Compliance requirements as well as other additional items. If anything is submitted on the old form after 7/1/13 it will be returned to the department and the department will need to resubmit with the correct form.

Income to Principal Form

In most endowment agreements, donors have provided instructions on how to handle unused income payout. Please note that every effort should be made to find and award all income payout per donor intent in the agreement before considering returning funds to the endowment. The Income to Principal form found on the VTF Website must be used to return income to the endowment fund. The new form can be found here. The form must be submitted by the 15th of the month before quarter end (Sept, Dec, March, June) to the VTF Accounting office. Journal entries are keyed daily and departments may verify entries have been processed by monitoring their Banner fund balances. Please start using these new forms now. All forms that come in after September 1, 2013 on an old form will be returned to the department to be completed on the new form.

New Request for Payment Form

The new RFP form now includes an additional legal statement below the required signatures. Please start using this new form now. All RFPs that come in after September 1, 2013 on an old form will be returned to the department to be completed on the new form.

Other Income Deposits

When sending Other Income Deposit forms to the foundation, please make sure that you include all backup needed. This will expedite the processing of these forms. If sufficient backup is not included, you will be contacted for more information, which could potentially delay the deposit. Please also make sure you are using the most current form, found here. If you have questions please contact Erin Carter at (540) 231-2507 or Todd Smith at (540) 231-7168.

Did You Know.....

...the VT Corporate Research Center is a for-profit, wholly-owned, private subsidiary of the Virginia Tech Foundation and houses over 150 private, high-technology companies and research centers who, in turn, provide employment for over 2600 people in our community.

Learn more about the VT CRC here>>

Frequently Asked Questions

How do I transfer VTF funds?

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The Gateway Journal is a publication of the Virginia Tech Foundation, Inc.

Volume 1: Number 6

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The Gateway Journal Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

May 9, 2013

In This Issue:

  • Fiscal 2013 Year End Schedule
  • Web Report Update
  • Departmental Training
  • Frequently Asked Questions
  • Did You Know?

Request Topic News Contact Us

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

Can I use Actvity Codes in VTF Banner?
  • 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.

Did You Know...

...the Pete Dye River Course of Virginia Tech is a wholly owned subsidiary of the Virginia Tech Foundation. The award winning course is bordered by 2 1/2 miles of the scenic New River and was honored in 2012 with Golfweek’s ‘Best Courses You Can Play’ award. We invite you to come and share the River Course experience and enjoy the beauty of the golf course, the amenities of the clubhouse, and fine food in a casual, upscale setting. To learn more, visit the Pete Dye River Course of Virginia Tech website at http://www.petedyerivercourse.com/.

Other News:

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The Gateway Journal is a service of the Virginia Tech Foundation, Inc.

Volume 1: Number 5

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The Gateway Journal Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

Thursday, July 31st, 2014

In This Issue:

  • Income to Principal Policy
  • FY13-14 Endowment Payout
  • Student Organizations Policy
  • Departmental Training
  • Did You Know...
  • FAQs

Request Topic News Contact Us

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

How do I transfer VTF funds?

Other News:

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The Gateway Journal is a publication of the Virginia Tech Foundation, Inc.

Volume 1: Number 4

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The Gateway Journal Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

Thursday, July 31st, 2014

In This Issue:

  • Student Organizations
  • United Way Silent Auction
  • Departmental Training
  • Web Report Enhancements
  • Updated New/Change Fund Request Form
  • Web Distribution Authentication to be Required
  • Did You Know...
  • FAQs

Request Topic News Contact Us

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

How do I transfer VTF funds?

Other News:

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The Gateway Journal is a publication of the Virginia Tech Foundation, Inc.

Volume 1: Number 3

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The Gateway Journal Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

Thursday, May 31st, 2012

In This Issue:

  • FY 2012 Year End Schedule
  • Web Report Enhancements
  • Reminder: New Request for Payment Form
  • New Other Income Deposit Form
  • Activity Codes on VTF Forms
  • Procedure Updates

Request Topic News Contact Us

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:

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The Gateway Journal is a publication of the Virginia Tech Foundation, Inc.

Volume 1: Number 2

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The Gateway Journal Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

Wednesday, March 28th, 2012

In This Issue:

  • Personally Identifying Information
  • New Request for Payment (RFP) Form
  • FY 2012 Year End Schedule
  • Web Report Update
  • Procedure Updates

Request Topic News Contact Us

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:

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The Gateway Journal is a service of the Virginia Tech Foundation, Inc.

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The Gateway Journal Virginia Tech Foundation, Inc.

Fiscal updates for Virginia Tech employees

Friday, January 6th, 2012

In This Issue:

  • New Website
  • Activity Codes
  • Web Reports
  • Express Purchase Orders (EPO)
  • Future Topics
  • Other News

Request Topic News Contact Us

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:

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The Gateway Journal is a service of the Virginia Tech Foundation, Inc.