Finance

1) FLOATING HOLIDAY ASSIGNED IN 2015
Reminder: The Floating Holiday is assigned in 2015. The university has assigned the 12th holiday this year on December 31st. With that in mind, please do not attempt to enter or approve Floating Holidays outside of this date in Kronos in 2015.

2) ALWAYS CHECK LEAVE BALANCES IN KRONOS
Before trying to enter any leave time in Kronos (i.e. vacation, sick, personal, etc), always make sure to check your leave balances under the “Accruals” tab at the bottom of your Kronos timecard. Managers, please make sure you are checking the balances as well when your direct reports enter leave time. Using time-off policies without checking first can lead to negative balances and pay that is not processed correctly.

3) YOU CAN STILL SIGN UP TO RECEIVE YOUR W-2 ELECTRONICALLY
Good news! If you missed the initial January deadline to sign-up to access your W-2 electronically, you have another chance. The W-2 portal has been re-opened, and you can once again give your authorization for electronic delivery. Read about the benefits of receiving your W-2 electronically and find step-by-step instructions for how to sign-up by following the link below: http://www.luc.edu/finance/w-2consent/#d.en.296649

4) ALWAYS APPROVE YOUR OWN KRONOS TIMECARD – BOTH HOURLY AND SALARIED EMPLOYEES
This probably seems like old news, but just a reminder that all employees must approve their own timecard each and every pay period. Unapproved timecards can lead to pay not being correctly processed (or hours not paid at all). If you are unsure how to approve your timecard, please talk to your Kronos supervisor or refer to the Kronos instructions below: http://www.luc.edu/media/lucedu/finance/pdfs/kronos.pdf

5) MAKE SURE YOU ARE ENTERING YOUR HOURS IN THE CORRECT PAY PERIOD
Please remember that if you enter hours after the Pay Period ends (e.g. on the Monday before the Kronos noon deadline) you must select the “Previous Pay Period” time period in Kronos. If the hours are entered in the wrong pay period, they will not be processed with that Friday’s payroll.

For further information about Kronos, the recent Google Chrome work-around, transferring hours, and a new FAQ’s section, please visit our webpage:

http://www.luc.edu/finance/payroll.shtml

If you have any questions, feel free to give us a call at x57444.

All the Best,
Kronos Help Desk

To access the live stream of the event, please click on this link on the day of the event. The stream will begin at 8:45 a.m. on May 28:  https://connect.luc.edu/fininfoexchange2015/

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.

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.  A Boxed Lunch will be provided.

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. To access the event remotely, please click on this link on the day of the event:  https://connect.luc.edu/fininfoexchange2015/

Please RSVP to by Friday, May 22, 2015 to Mary Jo Johnson at extension 58789 or mjohns5@luc.edu.  Space in Corboy Law Center 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 and 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
e- bslavin@luc.edu

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 InternalAudit@luc.edu.

Sincerely,

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