VPF Statement - November 2011

Israel Ruiz Elected as Executive Vice President and Treasurer

On Oct. 14, 2011, the MIT Corporation elected Israel Ruiz SM '01, who had previously served as vice president for finance, as the Institute's new executive vice president and treasurer.

Read about Israel's new role and his achievements as VP for Finance in the MIT news and a recently published article in The Tech.

Creating and Modifying Internal Cost Objects

VPF General Ledger Accounting and Reporting (G/L) assumed responsibility for creating and updating all internal (non-sponsored) fund accounts on Sept. 1, 2011. In an effort to simplify the process of requesting non-WBS element cost objects, a new master data request form has been created. The new form has been posted online and is now available for download from the VPF G/L website. Older versions of the master data request form should be deleted and replaced.

A number of enhancements have been introduced in the latest version of the form to streamline the submission process. First, the prior system of separate spreadsheets for new and existing cost objects has been combined into one concise PDF. Additionally, many fields from the previous form were consolidated or eliminated. Where possible, form fields have been updated with drop-down choices that will guide administrators through the submission process

It is important to note that this modified form applies only to non-WBS element cost objects. Sponsored accounts (WBS elements) are managed by The Office of Sponsored Programs (OSP) and requests to create, change or close WBS cost objects should be coordinated through the account's OSP Contract Administrator.

The specific cost object categories affected by this new form include: auxiliary; general; fund: gifts; fund: non-sponsored; and balance sheet.

To learn more about Cost Objects and Cost Centers, please visit the VPF website for specific definitions, policies, and procedures.

For questions or comments regarding the new master data request form or cost objects in general, please contact vpf-costobjects@mit.edu.

Selection of Source, Purchases $5,000 or Greater

VPF Sourcing & Procurement has modified the Selection of Source form to improve this important component of the procurement process. The revised form includes intuitive drop-down options, a simplified layout, and does not require printing at any stage of the process. MIT community members from across campus were central in guiding these revisions.

The Selection of Source form is used when making purchases exceeding $5,000. VPF Sourcing & Procurement reviews this form to ensure that purchases are in compliance with federal guidelines regarding vendor selection and price justification.

Completed Selection of Source forms can sent directly to the buyer associated with the requisitions. If a buyer has not been assigned to the requisition, completed forms can be emailed to procurementdocs@mit.edu.

Please note that the Selection of Source form is not required when making a purchase through an MIT preferred vendor or the information has already been included in the SAPweb requisition.

The new Selection of Source form is now available for download on the VPF website. Community feedback regarding the revised form is greatly appreciated and can be sent to Janet Sparks.

Poland Spring Direct to Your Home

MIT employees can now take advantage of special pricing on home deliveries from Poland Spring Direct. Poland Spring offers a wide range of plans for home delivery that are discounted up to 50% for MIT employees. Depending on your location, you'll be able to choose between a variety of products and delivery options.

Employee discount offer includes:

• Billing to the employee and not through MIT
• Dedicated representative that will manage the account
• Online options for payment and updating orders
• More than 50% off your purchases
• Poland Spring will set up a new in-home water cooler if requested

For more information, view the employee discount offer. For specific questions about the program, or to open an account, contact Bill Gray at Poland Spring Direct or Paul Morrison in VPF Sourcing & Procurement.

Upcoming VPF Training Classes

VPF will be hosting intro training classes in October. Follow the course links below for details and registration.

In addition to the above courses, Concur drop-in sessions are available every Wednesday, 10-11 am, in NE49-3100.

For more information, contact travelsupport@mit.edu

Select Electronic Delivery of W-2

Faculty, staff, and student employees may now elect electronic-only delivery of their 2011 W-2 tax forms through SAPweb Employee Self Service (SAPweb ESS). If you provided consent last year, you do not need to take any action.

The eW-2 service provides numerous benefits over paper W-2s, including:

  • Ease of access
  • Available sooner
  • More secure
  • Access to archived W-2s, currently back to 2009

The eW-2 service directly supports MIT's efforts to reduce paper consumption and become more environmentally sustainable.

Select electronic-only W-2s >>

Master Data Requests FAQ:

Q: Can there be global updates to master data?

A: Global updates are useful when data such as the addressee or supervisor changes for all the cost objects in the department. VPF General Ledger Accounting & Reporting can run a program to make such updates globally

If you need this type of a change, send an email to vpf-cost-objects@mit.edu.

To learn more about cost objects, cost centers, and master data requests, please visit the VPF General Ledger Accounting & Reporting website.

Important Links