July 2024 Newsletter
Happy New (Fiscal) Year!
Fiscal Updates:
- FY24 and FY25 are both open in KFS as of 7/1/24
- Default will be FY25
- As you begin to look at balances on your accounts in KFS, please note the following:
- Though FY25 is default on balance inquiries, you have the option to change to FY 2024 by typing over 2025
- When looking at FY24 balances on the “General Ledger Balance” inquiry, there is an additional period called “Year End.” This is where you will see any activity posted after June 30, 2024 that relates to Fiscal Year 2024. On the General Ledger Entry inquiry, you will see these transactions in Fiscal Period “13”
- KFS has the ability to show the prior year balances carried over into the new fiscal year. Ending balances from FY24, which are scheduled to be loaded overnight on July 1st as pending entries, will be regularly updated into FY25 until the final close in August
- Encumbrances:
- New FY25 external encumbrances (Purchase Orders) are in KFS.
- Prior Year external encumbrances that are carried forward into FY25 are also in KFS
- FY24 payroll encumbrances will be posted the week of July 1, 2024
- CCR – this will be processed by the Business Office in period 13
- For programs that have been identified as entrepreneurial for revenue sharing, we will be processing the transfers to recoup a portion of the revenue generated for Provost’s Office and CAHNR Dean’s Office per policy – for more information, please refer to the Entrepreneurial Revenue Distribution Policy found on the College Intranet
- Business Office Reports
- In July, there will be two report distributions for department and faculty reports. As we move through the first couple of weeks of July, the Business Office will be preparing account budgets and update all accounts to reflect the starting FY25 balances
- July 1st – will reflect FY24 ending balances; These will be the last report distribution for FY24
- By July 14th – will reflect FY25 beginning balances
- Update to Org Fund Balance report – the report will no longer include pending ledger entries and show posted amounts only
- In July, there will be two report distributions for department and faculty reports. As we move through the first couple of weeks of July, the Business Office will be preparing account budgets and update all accounts to reflect the starting FY25 balances
- FY24 Fiscal Year End and FY25 New Fiscal Year
- FY24 Carry Forward
- If your department is scheduled to receive any carry forward funding, the transfer of funds will not occur until after the FY24 hard close, which will likely be at the end of August
- Salary Savings Accounts
- Reminder – the BO will be loading any remaining prior year (FY24) salary saving account spendable balances for depts. and faculty starting July 1st. These funds expire 6/30/2025
- Salary Savings earned in FY24 will be distributed on 7/1/2024 (FY25). These funds expire 6/30/2026
- CAHNR Awards
- For those who received CAHNR Awards, the BO will establish new 6L RFNDO accounts and will manage any Foundation Disbursements by the end of FY25
- These accounts will have the award recipient listed as the ‘Account supervisor’, and will be included in their monthly account statements starting July 14th
- Start-Up Accounts
- The BO will be working to establish all new 8/23/24 faculty Start-Up accounts (if not completed already)
- Reminder – Faculty (in most cases) will have three (3) Start-Up Accounts:
- Faculty Summer salary
- GA Support
- Equipment/Discretionary
- The BO will serve as FO on both the Faculty Summer Salary and GA support accounts
- FY24 Carry Forward
- Federal Accounts (Smith Lever, SAES Capacity)
- Beginning this month (July), the BO will begin its annual review and establishment of the Federal Fiscal Year 2025 Federal Accounts
- This will be an ongoing process until the new Federal Fiscal Year (FFY) opens on 10/1/2025 (FFY25)
HR (Human Resources) and Payroll Updates:
- Fall Graduate Students
- Smart-HR Deadline – Friday, June 28th (tentative)
- Payroll Deadline – Friday, July 12th (tentative)
- Adjunct Faculty (Term Date: 8/26/24 to 12/18/24)
- Updated Adjunct Credit Rates:
- Faculty per credit minimum rate is $2,062.
- Adjuncts who have worked more than four semesters of continuous employment must minimally earn the 2% increased per credit rate of $2,103.24
- Adjuncts who have worked more than twelve semesters of continuous employment must minimally earn the 3% increased per credit rate of $2,123.86
- PageUp Deadline
- Business Office Deadline: Friday, June 7th
- University Deadline: Tuesday, July 16th
- Smart-HR Deadline
- Business Office Deadline – Friday, July 19th
- University Deadline – Friday, July 26th
- Faculty per credit minimum rate is $2,062.
- Updated Adjunct Credit Rates:
- From HR:
- Effective July 1st, all new faculty job openings will be handled directly within PageUp. The integration with Academic Jobs Online will be turned off for new job openings. Applicants will access and apply for jobs within the University’s Applicant Tracking System (PageUp). All open faculty searches posted to Academic Jobs Online prior to July 1st will be finalized using today’s current process
- Help documentation and videos will be posted shortly on the PageUp website for your reference
CAHNR Internal Professional Development Opportunities:
The CAHNR’s Dean’s Office is committed to providing opportunities for faculty, staff, and graduate students to expand their professional knowledge and skills. Throughout the year, the Dean’s Office will organize workshops and offer training, that will help the CAHNR community grow. Workshops and training will focus on fostering employee understanding and abilities in both hard and soft skills, such as in communication, HR/Payroll competency, and creativity.
As Professional Development Opportunities are finalized, they will be listed on our website here. Please be sure to check regularly for new learning opportunities and other about upcoming events.
- CAHNR B.O. Workshop
- Over the summer, the CAHNR BUsiness Office will host a series of office hours. This hour will be left open and available for any topic and/or questions.
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- Wednesday, July 17th – noon to 1pm
- Please email cahnrbo@uconn.edu to receive calendar invitation
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- Over the summer, the CAHNR BUsiness Office will host a series of office hours. This hour will be left open and available for any topic and/or questions.
- CAHNR Staff Advisory Council (SAC)
- Visit the CAHNR Staff SharePoint Site for opportunities with professional development, networking, and even hobby and wellness events.
Fun “Dad” Jokes:
- What did the Buffalo say to his son when he left for school?
- Bison!
- Why shouldn’t you tell secrets in a cornfield?
- There are too many ears all around.
- How many tickles does it take to make an octopus laugh?
- Ten-tickles.