Latest Accounts Payable News

Delivery of University Purchased Property to an Employee’s Home Address

Posted April 3, 2020 in Financial Services.

Due to the COVID-19 pandemic, building closures, and resulting telecommuting for many University employees, a temporary exception has been made to the policy restriction for delivery of University orders to a non-University address. Orders delivered to an employee’s home or … Continue reading →

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COVID-19: How FBS is Helping Campus Continue Business

Posted March 31, 2020 in Financial Services and tagged , .

Financial and Business Services has been working hard to accommodate the business needs of our campus users during this time of Stay at Home orders and in consideration of Social Distancing. Below, by department, you can read of these temporary … Continue reading →

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Revised Space Rental/Lease Account Codes

Posted March 11, 2020 in Compliance Oversight and Reporting, Cost Accounting and Analysis, Financial Reporting and Accounting and tagged .

The Property Accounting Office and Controllers Office are informing you of required changes to the Space Rental/Lease Account Codes due to Governmental Accounting Standards Board (GASB) No. 87 on Leases to be implemented July 1, 2020. The statement requires the … Continue reading →

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Q2 FY 2020 UMV for Endowment Projections

Posted February 18, 2020 in Endowment & Investment Accounting, Financial Reporting and Accounting.

The ending quarter endowment pool unit market value (UMV) for December 31, 2019, is $227.68 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FS News. All other factors in the … Continue reading →

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Q1 FY 2020 UMV for Endowment Projections

Posted November 12, 2019 in Endowment & Investment Accounting, Financial Reporting and Accounting.

The ending quarter endowment pool unit market value (UMV) for September 30, 2019, is $220.61 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FS News. All other factors in the … Continue reading →

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Q4 FY 2019 UMV for Endowment Projections

Posted August 14, 2019 in Financial Services.

The ending quarter endowment pool unit market value (UMV) for June 30, 2019, is $220.14 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FS News. All other factors in the … Continue reading →

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Timely Reporting of Departmental Deposits

Posted July 3, 2019 in Controller, Financial Reporting and Accounting and tagged .

As of July 1, 2019 (fiscal year 2020), Financial Reporting & Accounting will begin assessing a $10 fee for posting un-booked deposits greater than 90 days old to the appropriate Department. University Policy (Rule 3-003B) states transactions should be documented, … Continue reading →

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New Policy and Rule for Financial Record Retention and Disposal

Posted June 20, 2019 in Financial Services.

The Board of Trustees has approved both Policy 3-014; Financial Record Retention and Rule 3-014A; Financial Records Retention and Disposal. New Policy 3-014 and its associated Rule establishes a records retention policy, as well as outlines the processes and best practices for the retention and … Continue reading →

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Revised Noncapital Equipment Account Codes

Posted May 21, 2019 in Financial Services.

The Property Accounting Office wants to inform you of upcoming, and required changes to Noncapital Equipment Account Codes due to the recent revision of Policy 3-041: Accountability for Noncapital Equipment.  The revisions now include THREE CATEGORIES of assets, physical inventory … Continue reading →

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Q3 FY 2019 UMV for Endowment Projections

Posted May 17, 2019 in Endowment & Investment Accounting, Financial Reporting and Accounting.

The ending quarter endowment pool unit market value (UMV) for March 31, 2019, is $220.44 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FS News. All other factors in the … Continue reading →

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