This is your periodic newsletter from the Office of the Chief Financial Officer, Charles M. Peccolo.

Policy Updates

Revised equipment policy announced
Treasurer Charles (Butch) Peccolo has announced that the fiscal policy regarding the threshold for Sensitive Minor Equipment purchases has been revised. The policy is effective July 1, 2012 and is now on the policy web site. To see what has changed, click here. 

Procurement Card Program

Attention! International transaction fee for procurement cards 
As part of the new procurement card contract with Bank of America, there will be a 1% International Transaction Fee assessed for any transaction with a vendor based outside the United States. Click here to learn more.


New US DOT Baggage Rule Disclosure Requirements
The US Department of Transportation (DOT) is implementing new regulations regarding the disclosure of airline baggage allowances and identification of applicable fees. To assist our clients and travelers in understanding what charges they may be subject to, World Travel Service is introducing a short cut page to give travelers quick access to the most commonly booked airlines by World Travel Service worldwide. Click here to see World Travel Service's short cut page.

Important Information

Everyone at UT is Responsible for Credit Card Security
According to the US Department of Justice statistics at least 17% of Americans have been the victims of credit and debit card fraud with tens of billions of dollars in fraudulent charges. Everyone at the university has a part to play in combating credit card fraud.
Click here to learn more about how you can help defend the university from credit card fraud.

Treasurer's Office

Helpful hints for university departments that accept debit/credit cards
Departments that accept credit/debit cards are known as merchants and are assessed fees by the card networks, issuers and processors.  These fees are a function of various external and internal factors, many of which are outside the control of the merchant.  However, there are a few things that merchants can control that will result in the best possible interchange rates and lowest possible fees. Click here for some helpful hints.

New Visa debit card transaction integrity fee
Effective 4/1/12 Visa began assessing a new fee to merchants that process certain Visa debit card transactions.  The new fee, known as the transaction integrity fee (TIF), is in addition to the fees already being assessed to the merchants.  To learn more about this fee, click here.


Signature Authority List posted
Is your name on the list? If not, do not sign contracts! The University of Tennessee’s Bylaws and Contracts Fiscal Policy specify which university employees are allowed to sign contracts on behalf of the university. Only those individuals on this list have authority to sign on behalf of the university. Click here to see the list.

New master agreements posted 
Master agreements have been made with Executive Affiliates (Crowne Plaza Knoxville) and Holiday Inn World’s Fair Park. Click here to learn how master agreements can make your life easier.

New standard templates posted
A new standard template has been posted for the Nashville Sheraton Hotel, the Square Room, and the Square Room's conference room. Click here to see it and other templates posted.

Copyright © 2012 Office of the Treasurer, University of Tennessee, All rights reserved.
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