Happy New Fiscal Year!

Tuesday, July 5, 2022

Friday, July 1, 2022, marked the official start of Valencia’s new fiscal year — 2022-2023. Now is the perfect time to reflect, celebrate accomplishments and rethink and reorganize our approach as we continue our work.

To help us transition into the new year, Assistant Vice President of Budgets and Analysis Oscar Cristancho Mercado offers us some tips:

Budget Tips

1. Visit the Valencia EDGE and register for Banner 9: Budget online workshop to brush up on your Banner finance skills.

2. Review your budgets frequently, and reach out to the Budget Office for assistance with planning and projecting fiscal year expenditures.

3. Monthly budget reports are available to budget managers to assist with planning. Ask the Budget Office how to receive an automatically generated monthly report.

4. If you are the budget manager of several indexes, you may transfer between those indexes to cover needed expenses, as long as those indexes are mapped to the same fund number. For example, transfers cannot be processed between funds 11000 (current unrestricted) and 11001 (labs), or funds 11000 (current unrestricted) and 11003 (tech), etc.

5. Budget transfers should be done between 4 digit account codes moving whole dollar amounts only. Budget transfer amounts should not include cents.

6. If you are making a purchase for two different budget managers, there’s no need to transfer the funds to one budget manager; you may split the requisition between the two indexes.

7. If you have a change in budget managers, please send an email to the Budget Office.

Budget Helpful Resources

1. Banner Quick Reference Instructions
2. Fund Use Guidelines – last revised June 2020
3. What Account Code to Use – revised June 2022
4. Equipment Flowchart – revised Jun 2022

Payroll Tips

1. Visit the Valencia EDGE and register for a Web Time Entry online workshop to brush up on your time entry or timesheet approval skills.

2. Make sure that timesheets and leave requests match exactly when submitting/approving time. Do not approve a timesheet if COAs are missing or do not match.

3. Review the payroll deadlines found in Atlas under the Employees tab. Select Pay Information and then Payroll Information.

4. If you are a timesheet approver, please make sure you have a proxy in place who can approve timesheets in the event you are unable to do so. This person must have supervisory responsibilities in their job description. Having a proxy is mandatory when you are a timesheet approver. Part-time/student employees will miss a pay if their timesheet isn’t approved in time.

5. Employees must be in a full paid status the day before and the day after a holiday in order to be eligible for holiday pay. That can be a combination of hours worked and leave — as long as the employee has the leave available.

6. Overtime is paid on hours physically worked in excess of 40 in a week. If a timesheet is submitted with more than 40 hours in a week that contains leave or holiday, that timesheet will automatically be kicked back by the system for correction (reduction/removal of the paid time off).

7. Please do not email anything with your Social Security number or bank account information on it. Since e-mail isn’t secure, your information could be compromised as a result. If you have a Social Security number or bank account information to submit to the Payroll team, please email Payroll@valenciacollege.edu for directions on how to submit.

Payroll Helpful Resources
1. Proxy Set-up
2. Full-time Web Timesheet Schedule 2022-2023
3. Part-time/Work Study Web Timesheet Schedule 2022-2023
4. Payroll Schedule with Due Dates 2022-2023

If you have any budget questions, please email the Budget office at BudgetOffice@valenciacollege.edu. For procurement questions, email ValenciaProcurement@valenciacollege.edu. And, for payroll questions, email Payroll@valenciacollege.edu.

For any contract-related questions contact Lora Lee Johnston-Kavey, director, contracts and records, at ljohnston@valenciacollege.edu or 407-582-3048.

We wish you the best in this new fiscal year.

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