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Financial and Accounting Services

SAC announces results of election

The Staff Advisory Council (SAC) is pleased to announce the results of the 2013 election. Please congratulate the seven new SAC representatives from across the university staff: Shana Atkins (Advancement), Shannon Badgett (Budget and Finance Planning), David Carlson (FACS: Warehouse), Matt Clifford (Residence Life and Housing), Susan Edwards (Office of Research and Sponsored Programs), Christy Hill (FACS: Project Management), and Kim Thore (University Stores).

In addition to newly-elected representatives, Karen Frekko (Schools of Business) and Jennifer Killingsworth (Financial & Accounting Services) have been re-elected to serve an additional term. Each SAC representative will serve a term of three years and may be re-elected to serve one additional term.

The SAC received nominations from March 1-22 and held the election from April 8 – April 22.  The SAC received a total of 26 unique nominations across the six staff divisions. The overall staff voting participation rate was 36 percent (566 of 1,560 eligible voters). Two divisions, Athletics and Other, did not have any open SAC positions and therefore did not participate in the 2013 election. Click here for a list of SAC divisions.

The SAC would like to thank the representatives whose terms are ending this year: Cathy Chinlund, Debbie Deheck, Teresa Earl, Tomma Guastaferro, Melvin Lee and Donna Thornton.

For more information about the SAC, please visit:  http://sac.wfu.edu

February 2013 comings and goings

See a list of employees joining and leaving the University in February 2013: Continue reading »

Expense reimbursements moving to direct deposit

This message provided by the Accounts Payable team: 

Faculty and staff, we are very pleased to provide expense reimbursement payments by direct deposit. All reimbursements will now be deposited directly into your bank account like your paycheck.

You will automatically be enrolled in the direct deposit initiative. This new service provides several benefits to faculty and staff, including receiving a faster and secure payment. Your primary bank account on file with Payroll will be the default bank account used for reimbursement requests processed through Accounts Payable. Reimbursements made through Accounts Payable can only be made to one bank account. To change the default bank account for Accounts Payable, complete a new Wake Forest Direct Deposit Authorization form and submit the form to Payroll.

This will take effect March 25, 2013.

Your payment advice (a description of the payment processed by Accounts Payable) will be delivered to your primary Wake Forest email address. This will give you the option to save your remittance electronically.

If you have any questions, please contact Accounts Payable by email at ap@wfu.edu.

 

Mileage rate increases

Effective Feb. 18, the University will raise the reimbursable mileage rate for business miles to the recent Internal Revenue Service rate of .565 cents per mile. The University is adopting this new maximum rate for all employee business travel that occurs on or after Feb. 18. For any travel before Feb. 18, the reimbursement rate will be the old rate of .51 cents per mile.

An updated travel form will be published at http://finance.wfu.edu/. Please use the appropriate voucher that corresponds with your travel dates. If you have any questions, please contact Alice Hernandez, Accounts Payable Representative, at campus extension 5833 or by email at hernanah@wfu.edu.

Payroll tax changes effective Jan. 1

On Jan. 1, 2013, Congress approved the American Taxpayer Relief Act of 2012.  This bulletin provides information on how this legislation will affect taxes deducted from paychecks beginning this month.

Social Security tax:

Because of the expiration of the “Middle Class Tax Relief and Job Creation Act,” the Social Security tax rate will increase as of Jan. 1, 2013. As a result, the Social Security tax rate reverts to 6.2% of your pay compared to the 2011 and 2012 temporary rate of 4.2%, an increase of 2%.

Federal Income tax rates:

The federal government provides every January new withholding tax tables to all employers based on the tax rates that will be in effect for the new calendar year. Your withholding may change impacting your first paycheck in January 2013.

The tax rates in effect for 2013 are summarized in the table below.

Description Tax Rate
Federal Income Tax IRS Tax Table, W-4 Rate
Social Security 6.2% on first $113,700 wages earned
Medicare* 1.45% (no limit)
NC State NC Tax Table, NC-4 Rate

 
You may update your federal and/or state income tax withholding allowances at any time.

W-4 Employee’s Withholding Allowance Certificate »
NC-4 Employee’s Withholding Allowance Certificate »

* Beginning in January 2013, individuals whose annual wages and compensation paid in excess of $200,000 will be subject to an additional 0.9% Medicare Tax, from 1.45% to 2.35%.  The additional withholding will be reflected in the pay period in which an employee’s compensation exceeds this threshold.  For more information, please refer to the IRS website:  http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax

If employees have any questions regarding this bulletin, please contact payroll@wfu.edu.

November 2012 staff milestones

See a list of employment milestones reached by staff in November 2012: Continue reading »

WFU moves to NOVAtime

If you haven’t already heard, the University is moving to NOVAtime, a web-based time-keeping and leave management application. This new system is replacing the current time-keeping applications (Stromberg and WIN) on campus and will unify all time and attendance activities for bi-weekly paid staff and students.

Beginning January 1, 2013, NOVAtime will also become the system of record for leave balances for all employees.

During July and August, several campus groups assisted with implementation by participating in a pilot test. The following departments participated: Facilities and Campus Services, Graylyn, Mail Services, University Stores, WFU Properties, Financial and Accounting Services, Information Systems, Human Resources, ZSR Library.

We are pleased to announce that the pilot was successful and that all time clock users and the sample group of bi-weekly employees have fully implemented NOVAtime!

If you are not part of the above groups, when can you expect to begin using NOVAtime? Here’s the answer:

  • Bi-weekly staff employees will begin using NOVAtime on Sept. 29, 2012.
  • Students will begin using NOVAtime on Oct. 1, 2012.
  • Exempt staff employees will begin using NOVAtime for leave management on Jan. 1, 2013.

How do you learn to use NOVAtime? Learning sessions for both employees and supervisors will be held during the weeks of October 2 and 9, and will be available for registration through the PDC website. More information on leave management for exempt staff will be available as we approach the new calendar year.

September 2012 staff milestones

See a list of employment milestones reached by staff in September 2012: Continue reading »

August 2012 comings and goings

See a list of employees joining and leaving the University in August 2012: Continue reading »

August 2012 staff milestones

See a list of employment milestones reached by faculty in August 2012: Continue reading »