1. Accounting Services Updates
Presented by: Stephanie Avery & Irina Skiba
Business Partners Round Table
February 6, 2019

2. Tax Contacts
NRAT (Vendor): Payroll – Darlene Edelman & Danessa Quintos
Phone:
NRAT(Student): IPGE - Alex Shigenaga
Phone:
UBIT: Accounting Services – Stephanie Avery
Phone:
Links to previous presentations:
UBIT Presentation: Unrelated Business Income Tax – Why do you Care? - Located under August 17, 2017 Agenda items
NRAT Presentation: Non-Resident Alien Tax Information
Located under August 9, 2018 Agenda items
Stephanie

3. Reminders Mid-Year Close Review for the following transactions:
Expenditures, Non-Payroll & Payroll Expenses, AP Invoice Payments, Travel Reimbursements, Pro-Card Transactions, Budget Transfers, Revenues/Reimbursements, Review of Purchase Orders
Expenses Posted
Deadline for Campus to submit Expenditure Transfer
Deadline for AS to post Expenditure Transfer
July – September
October 31
December 3
October - December
February 2
March 1
January - March
April 30
June 3
April - June
June 20
End of FY
To promote timely review of financial data, support colleges and improve integrity and timeliness of year-end reporting we are approaching 3rd QTR deadline. Any accounting transactions posted between January and March may be submitted for correction by April 30th. In reviewing FDW reports the date to look out for is the “Journal Date”.

4. Reminders 2018/2019 Year-End Departmental Deadlines
March 1st is the first year-end departmental deadline. Only 24 days away!
- Year-End Departmental Deadlines file is posted on Accounting Services website

5. Reminders Incoming Wells Fargo ACH & Wires
Notify if the department anticipates a wire. Provide the following:
Sending Company Name
Chartstring for the receipt
Estimated receipt date & amount
Identifying description for the journal (optional)
If anybody anticipates an ACH or Wire please provide the info in advance

6. Investment Banking Fee Change
Chancellor’s Office has a new process of quarterly charging investment banking fees, but we will charge the campus annually in advance.
FY 18/19 interest earnings posted weren’t reduced by the banking fee
FY 19/20 interest earnings will be reduced by:
FY 18/19 actual banking fees
FY 19/20 estimate* banking fees
* Calculated by 5 year historical average
Beginning with FY 19/20 estimated banking fees will be charged at the time of earning distribution
Takeaway: lower interest earnings in FY 19/20 to be posted in 1st QTR due to two years worth of banking fee charges
Chancellor’s Office has a new process for distributing Interest Earnings to campuses. One lump sum allocated in the first quarter of the fiscal year. Upon receiving the earnings we reduce them with three different fees. This fiscal year we didn’t reduce the earnings by the banking fee charge so next year we will reduce twice: FY 18/19 & FY 19/20. Going forward the banking fee will be estimated and posted in the first quarter along with other fees. Takeaway: the earnings that were allocated this year will be much lower next year due to investment banking fee double reduction. Just in case anyone refers to that figure for pro forma planning purposes.

7. New Expenditure Transfer Form
Expected release month: April 2019
More automations & capabilities
Eliminates FDW backup & exchanges
Access for EXPTX DOA only
Action item: Submit CARS request if needing access by April
Training dates to be announced via
April-May 2019 (multiple sessions will be offered)
Training will resume in October 2019
Currently in the final stages of development and testing.
CARS (Common Access Request System)

8. Questions or Concerns!
Contact Information:
Accounting Services Generic
Accounting Resources
Accounting Services Website