Year-End Close: 2023 Reminders and Deadlines
2023-05-31
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It's that time of year again! The year-end close (YEC) process of recording and reporting expenses from September through August gives a snapshot of the university's transactional activity each fiscal year. For an in-depth look at the process, review Topic Overview: Year-End Close. Schedules and...
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Bank Closure/Takeover Impacts and Resources
2023-05-02
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This article provides a summary of guidance for suppliers and employees who are impacted by recent bank closures, for example Silicon Valley Bank.
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Year-in-Review: Resources Supporting Financial Stewardship
2023-05-02
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Over the past year, Stanford Financial Management Services (FMS) focused on providing the financial community with the tools and knowledge needed to support financial stewardship of all our university resources. The efforts also built a common understanding of the key requirements around all our...
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Excellence in Financial Stewardship | Issue 7open_in_new
2023-03-23
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This issue covers the various benefits that Stanford enjoys as a tax-exempt organization, risks and compliance requirements associated with these benefits, and the roles and responsibilities of employees and key members of the financial ecosystem.
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Organization Code Hierarchy Tool Project
2023-02-21
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Stanford University’s financial account structure identifies each organization by a four-character alphabetical organization (org) code. The Organization Code Hierarchy Tool enables effective governance of this structure by defining parent-child organizational relationships and group information...
Stanford UBO and FMS are building a new, robust organizational hierarchy management system to more effectively and efficiently support a broader set of the university's needs, launching July 1, 2023.
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Turning Feedback Into Action
2023-02-01
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FMS uses the Client Satisfaction Survey to gather feedback from faculty and staff that fuels action plans for continuous improvements. This article covers the latest on those projects.
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Enhancements to Support the Supplier Setup Process
2023-01-30
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Based on feedback received from the 2021 Client Satisfaction Survey, FMS is making a number of improvements to the systems, resources and guidance related to supplier setup. Technology Enhancement: Increased Visibility to Setup Process A top theme in the survey was a desire for increased...
Enhancements to Support the Supplier Setup Process
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New California Law Regarding Pay Transparency
2022-12-19
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Effective Jan. 1, 2023, suppliers of Stanford University must comply with California law regarding pay transparency, which includes the following requirements for California employers: Employers with 15 or more employees must include the pay scale, defined as the “salary or hourly wage range that...
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Excellence in Financial Stewardship | Issue 6open_in_new
2022-11-01
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This newsletter focuses on working with suppliers in the "new normal," and includes best practices when selecting, onboarding and managing the relationship.
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Managing and Monitoring PCards and TCards: Clarified Guidance and New Tools
2022-10-18
With business back and a busy fall upon the university, FMS refreshed resources to support managing and monitoring access to the PCard and TCard. While these cards are convenient purchasing methods for departments, it is vital to monitor their use to mitigate risk to the university and support good...
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