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Controller's Office > News > Panther Post Newsletter

Newsletter 2016-2017 Volume 2

In this Edition...

  • Fiscal Year End 2015-2016
  • Annual PCI DSS Self-Assessment Questionnaire
  • New Documentation Requirements for Merchant Journal Entries
  • FY 2015-2016 Purchasing Highlights
  • FIU Vendor Opportunity PowerNet Event
  • Annual Credit Limit Reviews
  • Card Cancellation Process
  • Check Pick Up Policy
  • Allowable Unencumbered
  • Reminders and Deadlines
  • Fiscal Year End 2015-2016

    The General Ledger for FY15/16 closed August 1st. University Departments can now run reports for FY15/16.

    Annual PCI DSS Self-Assessment Questionnaire

    The Office of the Controller requires departments that are processing, storing, and/or transmitting payment card data to complete an Annual Payment Card Industry Data Security Standard (PCI DSS) self- assessment questionnaire (SAQ). The SAQ's are designed to ensure that departments are securing card holders' data, maintaining PCI compliance, and adhering to the University's policies and procedures.

    In the upcoming weeks, you will receive an e-mail from the Office of the Controller with instructions on how to request your department's specific SAQ. All merchant employees will be required to review the Payment Card Processing Policy and PCI DSS refresher presentation as part of this process.

    For questions regarding the annual questionnaire, please e-mail merchant@fiu.edu and/or contact Katherine Cochran at 305-348-3888.

    New Documentation Requirements for Merchant Journal Entries

    Departments will now be required to attach supporting documentation for merchant journal entries in PeopleSoft Financials. The support will vary on the type of merchant location(s).

    All merchant locations are required to adhere to the State of Florida's general records schedule GS1-SL. The monthly bank statements must be retained for at least 10 years along with a copy of the journal template and supporting documentation.

    For questions regarding supporting documentation for your merchant entries, please e-mail merchant@fiu.edu and/or contact Katherine Cochran at 305-348-3888.

    FY 2015-2016 Purchasing Highlights

    Purchasing Services successfully implemented eProcurement and myFIUmarket in FY 2015-2016. We implemented six new catalogs that supported over $5.9 million in purchases for FIU. This equates to over 20% of the purchase orders dispatched last fiscal year from myFIUmarket and therefore automatically dispatched on the same day the requisition was approved by the departmental approver. Additionally, FIU realized approximately $350,000 in savings by purchasing from the catalogs on myFIUmarket. One of the newest and most highly utilized catalog is Office Depot. Prior to enabling the catalog, Purchasing Services negotiated a reduction in contract pricing which resulted in FIU realizing a 37% savings or $141,039 in just two months. Purchasing Services is dedicated to enabling six additional catalogs during this fiscal year in order to expand the purchasing options within myFIUmarket.

    In addition to myFIUmarket and the improvements in efficiencies it has afforded FIU, Purchasing Services would like to highlight some of our other accomplishments for last fiscal year:

  • Total number of POs dispatched: 10,910
  • Average PO Cycle Time (number of days from date requisition approved to date purchase order dispatched) for POs outside of myFIUmarket: 4.5 days
  • Total number of purchasing contracts completed: 997
  • Piggyback Contracts: FIU almost tripled the number of piggyback contracts entered into in FY 15-16 which totaled 63, compared to only 23 in FY 14-15
  • Sourcing events (competitive solicitations) completed: 11
  • Average contracts cycle time (from date contract received in Purchasing to date sent to vendor for signature): 4 days
  • FIU reported FY15-16 savings to the BOG from utilization of competitive solicitations: $969,080 for FIU solicitations and over $11 million through piggybacking contracts
  • Number of new Toshiba multifunctional devices (MFDs) installed: 283
  • Savings realized through implementation of the MFDs:
    • Reduction in toner purchased for desktop printers: $117,087
    • Reduction of paper price: 24.52%
    • Reduction in cost per copy:
    OLD Contract $ 0.055 $ 0.10
    NEW Contract $ 0.0047 $ 0.047

    FIU Vendor Opportunity PowerNet Event

    Purchasing Services, in conjunction with America's Small Business Development Center at FIU and the Florida State Minority Supplier Development Council, is hosting FIU's second annual PowerNet event from 9:00 a.m. to noon on August 12th at BBC. The objective of the event is to provide information and guidance on doing business with FIU to small and minority owned businesses in the Miami-Dade county and Broward county areas. There are over 144 suppliers already registered for this networking event. FIU departments are encouraged to participate. Please contact Purchasing Services if you would like to participate in the event or would like a list of small and minority owned businesses that may be contacted for the purchase of goods and/or services. Please contact Chandra Nix at cnix@fiu.edu regarding FIU's PowreNet Event or any questions you may have on FIU's small and minority owned business outreach.

    Annual Credit Limit Reviews

    We have recently completed a spend analysis of all university issued credit cards for the 2016 fiscal year, in conjunction with their assigned credit limits. We review our cardholder's spend to evaluate if they are set at appropriate credit limits. If we note a trend that a cardholder is regularly spending at their maximum limit or numerous requests to temporarily increase their limit, we will recommend a permanent increase.

    During this review, if we note that a cardholder's credit limits are not regularly used, we will adjust their limits to correlate to their actual, historical spend. All cardholders were notified by email the week of August 1st if any changes were made (or recommended) for their account.

    Card Cancellation Process

    When a card needs to be cancelled due to a cardholder transferring to another department or termination of employment, the approver or Department MUST notify the CCS team in an email immediately, prior to any Card Cancellation Form being sent. Departments that fail to follow the correct and timely card cancellation protocols risk losing the card privileges for their entire unit.

    Check Pick Up Policy

    As a reminder, the pick up of checks by the University community is permitted for the following reasons ONLY:

  • Event Vendors
  • Department of Homeland Security
  • Student Financials
  • Checks issued to FIU
  • Other vendors where confidential information needs to be included with the check
  • This list is currently being reviewed and may be revised.

    Allowable Unencumbered

    Prior to submitting an electronic unencumbered form, please review the list of allowable unencumbered payments closely. In the description field on the form, please clearly note how the invoice being submitted falls within the allowable categories.

    Travel Reminder

    Let's expedite approving Travel Authorizations, Cash Advances and Expense reports. Documents that have not been completely finalized and are older than 90 days will be cancelled or deleted by the Travel Department. Call 7-2543 for inquiries.

    For a list of pending documents, please click here. For information regarding report status abbreviations and how to close or cancel Travel Authorizations and/or Expense Reports, please click here.

    Monthly Departmental Card Deadline

    As a reminder, this month's billing statement (dated 07/29/2016) loaded into PantherSoft on August 2nd and must be completely processed by the end of business on August 15, 2016.

    Any charges not processed by the closing deadline will be automatically charged to the cardholder's default accounting on file and will not eligible for expense transfer.

    Additionally, cardholders with three unjustified non-approvals in the same fiscal year will have their card limits temporarily suspended until they complete a retraining session.

    Unidentified Wire Transfers and ACH Payments

    The Controller's Office occasionally receives payments that cannot be applied to the appropriate department due to inadequate information. Click here for the list of unidentified wire transfers and ACH payments as of July 2016.

    To claim a payment, please contact Cash Management (Dawn Patrick, dpatrick@fiu.edu, (305) 348-2542 or Eva Ramirez, erami004@fiu.edu, (305) 348-2547) and provide the following information:

  • payment details

  • activity details

  • account to which the payment should be recorded
  • Payments that are not identified within 45 days of the wire/ACH date will be returned to the sender.

    How to sign up for the Panther Post Newsletter

    If you wish to be added to the ListServ for the Panther Post, please email controller@fiu.edu.

    Office of the Controller