Finance Division Information Exchange

April 16th, 2015 by Tracy Snowberger

The Finance Division invites you to the first ever Finance Division Information Exchange.

Please join staff members from the below areas to learn more about important topics in Accounting and Finance.  Members of each of the above teams will be providing in-depth training and information that will be of special interest to you and your department and operations.  A tentative agenda for the event is as follows and will be updated from time to time up until the event.

  • Welcome – 5 minutes (9:00-9:05)
  • Capital Expenditures – 5 minutes (9:05-9:10)
  • Budgeting and Financial Analysis – 10 minutes (9:10-9:20)
  • Campus Card – 10 minutes (9:20-9:30)
  • Bursar – 15 minutes (9:30-9:45)
  • General Accounting – 20 minutes (9:45-10:05)
  • Taxes – 30 minutes (10:05-10:35)
  • Break – 15 minutes (10:35-10:50)
  • Financial Systems – 30 minutes (10:50-11:20)
  • Payroll – 30 minutes (11:20-11:50)
  • Treasury and Cash Management – 15 minutes (11:50-12:05)
  • Lunch – 55 Minutes (12:05-1:00)
  • Risk Management and Insurance – 30 minutes (1:00-1:30)
  • Purchasing – 30 minutes (1:30-2:00)
  • Furnishing and Interior Design – 15 minutes (2:00-2:15)
  • Break – 15 minutes (2:15-2:30)
  • Accounts Payable – 30 minutes (2:30-3:00)
  • Procurement Card – 15 minutes (3:00-3:15)
  • Sponsored Program Accounting – 20 minutes (3:15-3:35)
  • Questions – 25 minutes (3:35-4:00)

The event will take place on Thursday, May 28, 2015 from 9:00 a.m. to 4:00 p.m. at the Water Tower Campus, Corboy Law Center, 15th Floor Kasbeer Hall.

For those of you unable to attend, the event will be streamed live, and a recording will be added to the Finance Division website after the event.  Additionally, a boxed lunch will be served.

Please RSVP to Mary Jo Johnson at extension 58789 or  Space in Beane Hall will be limited so please RSVP at your earliest convenience.  Dietary considerations will be confirmed at the time of your RSVP.

Please forward this to anyone else that you feel might benefit from this event.

Please check back frequently for more information and updates to the program and agenda.

Should you have any questions please contact Brian Slavinskas at the information below.  Thank you and hope to see you on May 28th!

Brian R Slavinskas
Director of Special Projects
Purchasing Department
Loyola University Chicago
820 North Michigan Avenue
Suite 703
Chicago, Illinois 60611

p – 312/915-8787

Announcing Loyola’s New Internal Audit Firm

April 16th, 2015 by Rebecca Gomez

Loyola Community,

Financial Services has recently made a transition with the University’s internal audit function. Baker Tilly Virchow Krause, LLP (Baker Tilly) will replace our previous provider, WeiserMazars.

You may be contacted by Baker Tilly representatives as they begin to gather information from a variety of sources across the institution to serve as a foundation for planning internal audit activities.

Baker Tilly is a nationally recognized accounting and advisory firm, headquartered in Chicago, with extensive experience in providing internal audit and other risk consulting services to some of the nation’s premier higher education and research institutions. As the complexities of our institution continue to increase, we will benefit from access to a deep and broad range of capabilities and perspectives gained from Baker Tilly’s work with higher education entities, including numerous Jesuit institutions, Catholic institutions, and other public and private institutions across the country.

We anticipate that Baker Tilly will serve as a strategic partner in addressing a range of business, operational, compliance, and financial challenges and risks, providing assurance regarding our processes and systems, and identifying opportunities to increase efficiency and effectiveness.

As the Baker Tilly team transitions into their role in working with us, they will report administratively to me, senior vice president for finance and chief financial officer, and functionally to the Board of Trustees Audit Committee.

If you have any questions, the team can be reached at


Robert A. Munson, CPA
Senior Vice President for Finance & CFO

Electronic W-2 & Turbo Tax Instructions

January 22nd, 2015 by Tracy Snowberger

Active Loyola employees who consented to receive their W-2 in an electronic format will be able to access the W-2 on Lawson Employee Self Service in an IRS approved PDF format online no later than January 31, 2015. To view and print your W-2 by following these simple steps: Electronic W-2 Instructions (Viewing and Printing)

Please note that you must be connected to Loyola’s network (on campus or via VPN) and you must be using Internet Explorer in order to access the page.

Users who have also opted in for W-2 Submission to TurboTax, can follow the 2014 W-2 Turbo Tax Instructions to import the document into online or CD versions of Turbo Tax.  If using a CD version, you’ll need to select a product that supports the W-2 import feature – TurboTax Deluxe, Premier, or Home & Business. Visit the TurboTax website at for help on choosing the one that best suits your needs, or to get started with the online version.

The consent to receive the W-2 electronically will carry forward each year and does not need to be repeated.  For employee’s who did not give consent, the W-2s were mailed to the current address on record on January 27, 2015. W-2 reprints will be available beginning February 16, 2015. To request a reprint, please submit a W-2 Request Form to Payroll Services.

If you have any questions, please visit or contact Payroll Services at (312)915-7444.

2014 Payroll Year End Announcements

December 12th, 2014 by Rebecca Gomez

As the 2014 year end approaches, please keep in mind the following important reminders.

Floating Holidays / Personal Days:

Remember that you have until Tuesday, December 30th to use your Floating Holiday and Personal days for 2014.  If you are unsure if you have used your days in 2014, please follow the steps below to view leave balance information:

  • Log into Employee Self Service
  • Click Personal Information->Leave Balances
  • Click on one of the 4 tabs to view your available hours.
  • Under Balance Details, click on the available time link to view the dates that you have accrued and used time.

Click here to view the 2015 Payroll & Holiday Calendar.

Personal Informati0n Review

Don’t forget to double check your personal information for your W-2! Using your most recent pay stub in Employee Self Service, please review your name, address and last 4 digits of your SSN.  If anything needs to be updated, please use the following forms.

Tax Withholding Review

Now is also a good time to do a personal review of your Federal and State tax withholdings for 2015. You can view your current elections using Payment Modeling in Employee Self Service.

To make any changes in your elections, use the following W-4 forms and submit to Human Resources.


New PDF Forms! Expense Reimbursement & University Deposit Slip

November 14th, 2014 by Tracy Snowberger

The Finance Department is excited to reveal two new and improved fill-able PDF documents. Please take a moment to review the new forms and instructions:

Please Note: The required University Deposit Slip procedure is changing and only the new form will be accepted at the Bursar Cashier Offices. The new form has equations in the Totals and Summary sections for ease of data entry so it is highly recommended that you use the form on-line when completing it. Additional Itemized Deposit Detail can be provided in the Deposit Description box or on a separate Itemized Deposit Detail form, whichever is most appropriate.

Similarly, the new PDF Expense Reimbursement Form should be used going forward. University ProCard Expenses should no longer be included on this form. ProCard expenses related to this business travel can be noted in the Business Reason for Expense/Comments box.

Questions about these forms or instructions can be directed to:

Office of the Bursar (University Deposit Slip)

Accounts Payable (Expense Reimbursement Form)

Financial Systems (general form questions)

Loyola Gives & Payroll $ervices Stuffed Animals Donation

November 14th, 2014 by Rebecca Gomez

Loyola Gives Flyer

New: Gift Card Purchase Policy

September 4th, 2014 by Tracy Snowberger

Loyola Community,

The Gift Card Purchase Policy has been established to set forth the guidelines and procedures for the purchase and distribution of gifts and gift cards/certificates purchased with University funds to ensure compliance with the University’s tax withholding and reporting obligations.

This policy applies to all staff, faculty, and principal investigators who wish to purchase gift cards for the purpose of incentives, awards, and other uses necessary to carry out the University’s mission.  Gift cards should not be given in exchange for services received or in place of a payment of wages.  Gift cards are subject to tax laws similar to cash payments.

Effective immediately, any department wishing to purchase a gift card, will need to complete a Gift Card Purchase Authorization Form. This form should accompany the Purchase Requisition and sent to the designated Purchasing agent: HSD Purchasing at HSDBUYERS@LUC.EDU or Lakeside Purchasing at PURCHLSC@LUC.EDU.  Gift Card purchases should not be made on the ProCard. Once a gift card purchase has been approved, gift cards should not be used for reasons other than their originally stated purpose.

Once gift cards have been distributed, a Gift Card Distribution Log must be completed and submitted to either SPA, GRNTCON@LUC.EDU (If AU begins with a 2, 5, 103XXX or 104XXX) or General Accounting, ACCOUNTING@LUC.EDU (For all other AUs).

Gift Cards should be treated like cash and be kept under lock and key at all times to ensure proper physical security and to protect from theft and loss. Access to the gift cards and keys to the lock areas should be limited to the individual(s) responsible for safekeeping of the gift cards.

The Gift Card Purchase Policy can be found at:


Gift Card Authorization Form

Gift Card Distribution Log

New: Motor Vehicle Records and Vehicle Use Policy

August 22nd, 2014 by Rebecca Gomez

Loyola Community,

A new Motor Vehicle Record (MVR) and Vehicle Use Policy approved by the President’s Cabinet earlier this year is being implemented by the Risk Management department of Loyola’s Treasurer’s Office. This new policy will apply to anyone who:

• drives a University vehicle,
• drives as a primary part of their job duties, and/or
• transports students on University business.

The policy will not apply to employees who occasionally drive their own vehicles between campuses for meetings or other incidental business-related driving, unless it involves driving students and/or the use of a University-owned vehicle.

The policy requires anyone who falls into the above categories to become an authorized driver by following the new process, which includes an MVR check (at no cost to the individual). To begin the MVR process, follow the steps below:

1. Visit and read the MVR and Vehicle Use Policy in its entirety.

2. Read and electronically sign an authorization form permitting Loyola to process your MVR. The link to this online form is located within the policy in the Driver Eligibility section in the third bullet point — or click here.

3. After signing, you will receive an e-mail from HireRight, the company that processes the MVRs. This e-mail may take a few days to arrive after signing.

4. Follow the link in the HireRight e-mail and complete your personal information on HireRight’s secure website. The login information contained in this e-mail will expire after 30 days, so you must complete your information ASAP upon receipt of the e-mail from HireRight.

5. Expect a final e-mail from with the results of your MVR check. The criteria for acceptable drivers are located in Exhibit A in the policy.

Please note that the MVR check is just one step in the process to become an authorized driver. Additional steps can be found within the MVR and Vehicle Use Policy.

If after reading the policy you have questions, please contact the Risk Management department at

Travel & Business Expense Policy Updates

June 30th, 2014 by Tracy Snowberger

Effective July 1, 2014 all expenses in excess of twenty five dollars ($25.00) will require the support of a detailed receipt.  This change applies to all Expense Reimbursements and ProCard purchases.  The updated Travel & Business Expense Policy can be viewed here:

In addition to this updated policy, ProCard Cardholders and Approvers should be aware of these additional changes:

  • Gift Cards may NOT be purchased on the ProCard. ALL gift card and gift certificate requests must go through the Purchasing Department (

In addition, incentive or prize purchases for program attendees or research study participants on grant (5xxxxx), gift (2xxxxx), and certain research stimulation accounting units (103xxx and 1047xx) are NOT allowed on the ProCard.  Please contact Sponsored Program Accounting at (312)915-8730 with any questions.

  • EBay, Etsy, UBid, Newegg and other similar vendors are not allowed on the ProCard.  Please contact the University’s Purchasing department for special requests (  This list of vendors is not exhaustive; please direct any questions to the ProCard Administration.

Important Note:  Prohibited purchases may NOT be paid out-of-pocket and submitted for expense reimbursements.  Immediate card suspension may result from the purchase of these items (gift cards and restricted online vendors) with the ProCard.

  • All effort must be made to use the University’s Preferred Vendors and Suppliers.  Cardholders that do not use these prequalified suppliers either due to emergency situations or sourcing issues should note that any transactions involving other suppliers such as Amazon, Costco, Wal-Mart, etc. will be automatically audited each month.

PC Workstations (Apple, Windows, etc.) and Laptop purchases may NOT be purchased on the ProCard. ALL PC workstation and Laptop request must go through the ITS and the Purchasing Department:

The complete ProCard policy and procedure manual can be found at

Please contact Martin Rivera (ext 5-8785) or Megan Pedersen (ext. 5-8750) with any questions or concerns regarding ProCard.

Fiscal Year 2014 Financial Services Deadlines

June 3rd, 2014 by Rebecca Gomez

Loyola’s fiscal year-end of June 30, 2014 is rapidly approaching! To close out FY14 please review the below deadlines.

Check Requisitions and/or Expense Reimbursements must be received electronically by Accounts Payable ( no later than Monday, June 30, 2014. Requests received after June 30, 2014 will be paid against the FY 2015 budget.

Expenses not received in AP by June 30, 2014.
o Expenses incurred prior to June 30 not received by AP by June 30 must be accrued and charged to your FY 2014 budget with supporting documentation from an external party.
o Goods must have been received or services rendered prior to June 30.
o Requests to accrue must be received by AP in writing by Thursday, July 3, 2014. If there is a significant invoice ($25,000 or more) that you are aware of after July 3 that pertains to FY14, contact Ben Smigielski ( or Accounts Payable (
o Appropriate and valid accounting unit-account code pairs must be on the requests.

Invoices received by departments for items ordered using a purchase order should be sent immediately to Accounts Payable for payment processing
o Purchase orders that have not been paid but have a receipt processed against the order in the Lawson system (“received, not invoiced”) by June 30 will be accrued as an expense in FY 2014.
o To ensure accuracy please make sure that all items that have been physically received are also recorded as “received” in the purchasing system by June 30.

Procurement Card transactions should be made no later than Monday, June 30, 2014 to be applied to the FY 14 budget.

Payroll adjustments
o General Accounting payroll adjustments: (corrections between accounting units for salary line items) must be received by General Accounting (send to by Thursday, June 26, 2014.
o Sponsored Program Accounting payroll adjustments: Personnel Action Forms (PAF’s) or Employee Information Forms (EIF’s) that include corrections to grant accounting units for salary line items must be received by Monday, June 9, 2014. Requests received after June 9, 2014 will be processed for FY 2015.

• Revenue received prior to June 30 for programs being held in FY 2015 will be deferred to the new fiscal year. Contact Ben Smigielski at or Andrea Sabitsana at by Thursday, July 3, 2014 to ensure the proper accounting for the deferral of revenue.

If you have questions regarding these procedures, please feel free to contact Ben Smigielski at or Andrea Sabitsana at

The entire Financial Services team appreciates your efforts and we look forward to a successful and efficient year-end close!