University of Oklahoma Norman Campus Financial Services
Welcome to the University of Oklahoma Norman Campus Financial Services website!
Financial Services is responsible for providing reliable financial reporting for the University and administering the University’s financial systems. We also process payments in our Accounts Payable area and administer the Concur system for booking and reporting travel activity. On this website you will find policies, procedures, forms, and information about the systems that we administer and other services we perform.
We strive to provide our services in a high-quality and responsive manner and hope you will find the information provided here to be helpful and relevant. For general questions regarding our website or its content, please e-mail email@example.com.
Financial Services Current News and Updates
January department statements are final as of February 3, 11:00AM.
The navigation path for the reports is as follows: General Ledger>OU GL Reports. Remember to enter fiscal year 2020 and period 07 to get January 2020 statements. If you want a detail listing of all transactions, click on the box next to "Show Detail".
If you have any questions about your statements, please send an email to firstname.lastname@example.org or call Financial Services at 325-3021
Over the last few weeks, Financial Services has been working with the Office of the Bursar to develop a new policy to specify the appropriate accounting for deposits. The intent of this new policy is to improve the consistency and transparency of financial reporting across campus.
Under the new policy, departments may no longer use a PeopleSoft account code ending in 05 (XXXX05) when preparing a departmental deposit slip. If the Office of the Bursar receives a deposit slip requesting a deposit to an account ending in 05, the deposit will be returned to the department with a request for a corrected account number.
The new policy is effective July 1, 2018. For additional details and considerations, please review the complete policy located on our website:
http://ou.edu/financialservices/forms Department Information.
If you have questions about the new policy, please e-mail Financial Services at email@example.com.
Due to changes in tax laws resulting from the Tax Cuts and Jobs Act passed in December 2017, the University of Oklahoma has implemented new policies and procedures for payment of employee moving expenses. Under the new law, all moving expenses, whether reimbursed directly to an employee or paid to a vendor on behalf of an individual, are includable in the employee’s gross income. These payments will be reported on the employee’s W-2 and be subject to federal and state income tax and FICA withholding.
For payments directly to individuals, departments should complete the new University of Oklahoma – Employee Moving Expense Payment form (available on the Financial Services website) and submit the completed form to Payroll and Employee Services. For payments to third party vendors, departments should complete the new Moving Expense Vendor Payment Request form in CrimsonCorner.
For additional information, please refer to the following documents available on the Financial Services website. Moving Expenses Policy and Moving Expenses Procedures here.
If you have questions regarding the new policy and procedures, please e-mail Financial Services at firstname.lastname@example.org.
The Tax Cuts and Jobs Act of 2017 affects the taxability of employee parking. Currently, payroll withholding for employee parking is available to employees as a “Before-Tax Deduction”. However, as a result of the new tax act, we must transition all withholding for employee parking to an “After-Tax Deduction”. Effective July 1, 2018, employee parking will only be deducted from employee paychecks on an After-Tax basis. For hourly employees, this change will first occur for payroll paid on July 6, 2018. For monthly employees, this change will first occur for payroll paid on July 31, 2018. Because withholding for employee parking will be deducted After-Tax rather than Before-Tax, employees may notice a reduction in their net pay.
To determine how this change will impact your take home pay, you may sign into PeopleSoft Self-Service and use the Paycheck Modeler. If you have questions about this change, please contact Financial Services at email@example.com or Payroll and Employee Services at firstname.lastname@example.org.
As we approach the end of another fiscal year, there are some things I’d like to address regarding Concur.
Travel Card Usage
We continue to experience a rather large number of travel card transactions over 90 days old which have not been processed on an expense report.
As of 4/25/18, we have 675 travel card transactions that have not been added to an expense report or the expense report containing the transactions has not been fully processed by Financial Services . We understand some of these are for trips that have not yet occurred, but all transactions associated with trips that have already ended need to be added to an expense report and submitted in time for the report to be fully processed by Financial Services prior to June 30th for these expenses to be properly reflected on your departmental financial statements as of 6/30/18.
The report Travel Card Charges by Department (Over 90 Days Old) is available at ou.edu/controller/fss/concurtravelnews.htm to assist you in addressing these outstanding travel card charges.
Comparable Air Fare Quotes
We are seeing a significant number of airline tickets being purchased from suppliers other than the University’s contracted travel management company. Financial Services processors are returning many expense reports because they lack the Comparable Air Fare (CAF) quote required by University policy.
Below is an excerpt from the University’s travel policy regarding the purchase of air transportation (highlights added).
Travelers should book all air transportation through one of the contracted University travel agencies for air transportation, unless circumstances satisfy one of the following exceptions:
• Air travel was initiated on an emergency basis and time did not allow using a contracted travel agency, e.g. changing itinerary en-route or emergency travel after hours.
• Airfare is part of a package arranged by the organization scheduling the meeting or conference.
• From time to time the traveler may find an internet fare that is lower in price than a fare available from an authorized travel agent. In order to book such a fare and be reimbursed for it, the traveler must produce documented objective evidence that the fare is lower than that which can be secured by the agent. Examples of this type of evidence are an itinerary, email, or memo from the agent, documenting the best fare that could be obtained for the travel involved. The date and time of the evidence and information must be proximate to the date and time of the lower internet fare. Other types of objective evidence may be considered, but in no case shall a mere written statement by the traveler be sufficient. The final decision rests with Financial Services.
FCM, partnered with Concur, is the current authorized/contracted travel agent for OU. Travelers are booking tickets via the internet or other travel agencies without obtaining the evidence and information indicated above. Travelers must always obtain a CAF from FCM by doing a search in Concur or calling FCM before making reservations with an alternate source. The information returned by the search in Concur or obtained from FCM must be attached to the traveler’s expense report.
As indicated in the policy excerpt above, purchasing an airline ticket from someone other than the contracted/authorized travel management company should be an exception, not the norm. As we move forward in evaluating the use of the University’s travel management company, we will be enforcing this policy more stringently. More details and information on this process will be forthcoming soon. In the meantime, please advise/remind your travelers of the policy on purchasing airline tickets.
Travel card usage for guests
Now for some more positive information…. We have reviewed the use of the travel card for guest expenses and determined that a travel card holder may use their travel card for any allowable travel expense to be incurred by the guest so long as the supplier (i.e. hotel, shuttle service, etc.) will accept it.
Please keep in mind that a guest is defined as someone who is not in Concur. A travel card holder cannot use their travel card for expenses for another University employee. Also keep in mind that the card holder is responsible for obtaining all required receipts and submitting an expense report containing all of the guest travel card charges.
If you have questions about any of the information in this email or other questions about Concur, FCM, or travel card usage, please send an email to email@example.com.
Terri B. Pinkston, CPA | Assistant Vice President, Controller and Director of Administrative Systems
Administration and Finance
University of Oklahoma|660 Parrington Oval, Room 301|Norman, OK 73019|Office: (405)325-3021|Fax (405)325-7487