Finance Moving and Mileage Reimbursement Updates
The Internal Revenue Code that provided an exclusion from employees’ income for qualified moving expense payments and reimbursements made by employers has been suspended, except for military-related moving expenses, for tax years 2018 through 2025.
All moving expenses reimbursed beginning January 1, 2018 will be taxable to the employee and subject to tax withholding. Accordingly, beginning on 1/1/2018, all reimbursements of moving expenses to current or prospective employees should be reported to Payroll using a 211 form so that the appropriate taxes may be withheld from employee paychecks. This is true even if the expenses were incurred in a prior year, and the employee is not reimbursed until 2018.
December 2017 F4 Payment Request Acceptable Use Updates
The F4 Payment Request form Acceptable Usage list (see page 3 of the Instructions) has been updated for additional activities that do not require a purchase order. You may submit invoices for the following purchases/payments to Accounts Payable with a completed F4 form:
By permitting these transactions to be paid via F4, Purchasing will be able to focus efforts on other contracts/negotiations and purchase orders that are being directed to them as a result of the F4 form update.
The above updates, and any future updates, will be reflected in the Payment Request Instructions located on the Finance Forms webpage.
F4 Payment Request Updates
Important updates to the F4 Payment Request Form have been made. The form has been updated to require initiating departments to actively demonstrate compliance with University policies and capture more information in a consistent manner. Please read the Instructions – extensive updates and clarifications have been included.
Several 1-hour training sessions are available where Marta Herman, Accounts Payable Manager, and Purchasing will present and be available to answer questions. Use the signup genius to reserve a spot to attend in person or join via Zoom. Call in numbers are the same for all sessions: 888-330-3581 participant code 2960254.
|Monday||November 20, 11-noon||https://rochester.zoom.us/j/566588616|
|Thursday||November 30, 1:30-2:30||https://rochester.zoom.us/j/472705535|
|Monday||December 11, 11-noon||https://rochester.zoom.us/j/566588616|
|Monday||December 18, 11-noon||https://rochester.zoom.us/j/566588616|
|Tuesday||January 9, 11-noon||https://rochester.zoom.us/j/423247597|
|Tuesday||January 30, 11-noon||https://rochester.zoom.us/j/423247597|
Resources for understanding updates to the F4 form are available:
Frequently Asked Questions
When do I start using the new form/can I use the old form?
Start using the new form now. You can use the old form for a short period of time. We are giving time for departments to get on board with the new form and instructions. Hard enforcement will begin 2/1/18.
I have a lot of people that need to be trained/Brooks Landing is not convenient for my group to attend/will you have Zoom for the sessions?
Zoom is now set up for each session and is posted on our website.
If you have a large group of people in your department, or there are a couple departments that want to join together and coordinate a large group of attendees (30+ people) contact Marta directly to set up a separate training session to be held at a location of your choice.
Is the EFT version being updated as well?
The EFT version of the form will be updated soon (expected by 11/22). It will replace the old version which is on the Treasury website – check there for the new form.
We order food for meetings throughout the year/I send an F4 every month to pay my consultant $*k/Can I still use F4 for my direct bill arrangement?
These situations are indicative of ongoing business and the department should contact purchasing to review any contracts that might already be in place and establish a purchase order.
I don’t know how much everyone else pays this supplier/ over what time period is the $25k rule pertinent?
Departments are not expected to go around asking others how much they spend with a supplier (with regard to meeting the $25k threshold). Individuals should rely on their own knowledge of activity with the supplier to determine if the $25k threshold will be met.
There is no time period, if you are going to pay $25k+ over several years, then you meet the criteria for needing a contract.
I’ve been paying my supplier on F4s, how do I know if they are approved/qualified?
Accounts Payable does not have access to this information. Please contact Purchasing.
Mileage Reimbursement Rate Update
The University is adjusting its mileage reimbursement rates to reflect the new IRS rates. Effective January 1, the business mileage reimbursement rate will be 53.5 cents per mile and the moving mileage reimbursement rate will be 17.0 cents per mile.
2017 Fiscal Year-End Finance Announcements
As the University's fiscal year end approaches for June 30, 2017, there are special timing considerations and actions required on your part in order to ensure that all financial transactions are recorded properly and in the current fiscal year.
Request for Payment (F-4) and Student Expense Report for University Business (F-34) AP Cost Transfer Forms and corrections must be received in Accounts Payable no later than 4 p.m. on Friday, June 16, 2017. Please send to Accounts Payable, RC Box 278958.
Payroll Reallocation Changes – Requests for payroll reallocation changes on Form 800 should be received no later than 4 p.m. on Friday, June 16, 2017. Please send your materials to Laura Bardossi, Box PERC.
Employee Expense Reports (F-3) – must be received in Accounts Payable no later than 4 p.m. on Tuesday, June 27, 2017. Please send to Accounts Payable, RC Box 278958.
All journal entry forms and 312 requisitions (non-purchasing) must be received by central finance by 4 p.m. on Monday, July 3, 2017
Preliminary reports available in the morning on Saturday, July 8 2017
Final reports available in the morning on Thursday, July 13, 2017
NOTE: If you should have any questions or need further clarification: