Financial Management Newsletter #29

July 2005

Happy Summer and Biennium Close!

This issue includes information about the following:

* ProCurement and Travel Card Security Alert
* FY 06 Benefit Load Rates Now Available
* Grant and Contract Accounting On-line GCA Team Search
* Grant and Contract Accounting Compliance and Outreach Team

***************************************************

ProCurement and Travel Card Security Alert

Today an email will be sent to the ProCurement and/or Travel Card holders whose cards, as identified by JPMorgan Chase (JPMC) and Visa, may have been affected by a recent information security breach that could result in charge card information theft. The security breach occurred at an independent third party processor (not at JPMC or VISA) whose main line of business is signing up merchants to accept card payments from their customers.

While only a small number of UW accounts were impacted, to eliminate any risk, the affected accounts will be closed July 12, 2005 and new accounts will be issued. We will allow cardholders to modify the closure date based on critical
need situations. During the transition, JPMorgan Chase has implemented additional monitoring.

If administrators and/or cardholders have any questions, please contact ProCurement Card Services at procard@u.washington.edu or the Travel Card Administrator at dharker@u.washington.edu.

*****************************************************

FY 06 Benefit Load Rates Now Available

The new fiscal year 2006 benefit load rates, effective July 1, 2005, have been established and are available at the following website:

http://www.washington.edu/admin/finacct/loadrate.html

The benefit load rates (or payroll load rates) are used to automatically charge benefit costs to all budgets that have salary charges. The Financial Accounting Department updates the rates each year, submits them to the US Department of Health and Human Services for approval, and updates the rates in the Financial Accounting System (FAS). Rates effective since 1989 are available in the FAS tables. Also included are brief descriptions of how the rates are determined and what cost components are included in each rate.

Additional questions about benefit load rates can be directed to Sarah Moore at 616-6786 (moores@u.washington.edu) or Erin Courtney at 543-9859 (erinc1@u.washington.edu).

********************************************************

Grant and Contract Accounting On-line GCA Team Search

It is now possible to easily find out which GCA team has been assigned to a particular budget, organization code, or grant/contract (award #) through the online GCA Team Search located on the GCA Contacts link (left side navigation
bar, near the bottom of the site) at:

http://www.washington.edu/research/gca/office/gcacontacts.html

Questions may be directed to your GCA Team or gcaques@u.washington.edu.

*********************************************************

Grant and Contract Accounting - New Compliance and Outreach Team

The goal of the recently established GCA Financial Compliance and Outreach Team is to encourage compliance by providing monitoring, support, training and educational resources to assist departments in managing post-award
administration of sponsored projects. The work of this team is to complement and enhance similar efforts provided by specific GCA Teams. The Compliance and Outreach Team includes Ted Mordhorst, Assistant Director of Compliance, and Michael DeShazo, Budget Fiscal Analyst/Lead. Examples of topics for which guidance can be provided include: allowable costs, cost sharing, cost transfers, and program income.

The team can be reached at gcafco@u.washington.edu. Additionally, they have established a mailing list for information dissemination. To subscribe, go to:

http://mailman1.u.washington.edu/mailman/listinfo/gcafco_list

Ann

Ann Anderson, Controller (andera@u.washington.edu or 543-4993)

V'Ella Warren, Vice President, Financial Mgmt & Treasurer, Board of Regents (vwarren@u.washington.edu or 543-8765)