2013 News

NYU 2012-2013 Consolidated Financial Statements are now available

View the 2012-2013 Consolidated Financial Statements or visit the Financial Statements page to view all available financial statements.

Dec 20, 2013

Financial Reporting has transitioned from BRIO to UDW+

Brio is no longer accessible for Financial Standard or Adhoc Reports. Please login to UDW+ for all your financial reporting needs.

October 31, 2013

Change to Year-End Purchase Order (PO) Process

Effective with the FY13 Year-End Close, open POs in Funds 10, 12, 14, 16, 20 and 60 will no longer be closed after Accounts Payable completes processing for the year. Instead, these POs will be brought forward to FY14 and budget-checked against the chartfield for which they were requested creating an FY14 encumbrance. This addresses two pain points with year-end processing: 1) invoices submitted against POs closed by the old process after year-end require numerous AP / School / Department interaction to correctly charge the payment; and 2) vendors using the new JPMC automated payment tool will submit electronic invoices for closed POs and will encounter processing issues, thus delaying payment.

Aug 14, 2013 (updated Aug 17, 2016)

New JP Morgan Chase (JPMC) Procure-to-Pay System

As part of our on-going effort to improve customer service and efficiency, as well as continuing to support the University’s green initiatives, we are pleased to announce that Accounts Payable has piloted a new Procure-to-Pay system (through JP Morgan Chase, JPMC) for Purchase Order related invoices.

Click here for the memo to Fiscal Officers announcing this new program.

Click here for a current list of enrolled vendors.

If you have any questions or concerns regarding the new PO invoice payment process, please contact Accounts Payable Customer Service at (212) 998-2990 or email at cdv.apcs@nyu.edu.

May 30, 2013

Chart of Accounts Consolidation Project

The Chart of Accounts Consolidation Project Team is currently reviewing the 4,583 existing account codes with the goal of streamlining the account listing by consolidating redundant account codes and deactivating those account codes that have had no activity for the past two fiscal years. The new consolidated account codes will go into effect on September 1, 2013 (for FY2014 activity).

A valid NYU NetID and password are required to view the following:

Account Consolidation Look Up Tool (XLS) - Type in an account number to see if it is being consolidated.
Most Frequently Used OTPS Accounts (PDF) - A listing of the account numbers used most frequently.

For more information visit the Chart of Accounts Consolidation Wiki.

Mar 12, 2013

FO&T Departments have moved to 105 East 17th Street

See below for where each FO&T department is located:

Third Floor
Accounting & Reporting
Office of the Bursar
Sponsored Programs Administration
Student Payment & Treasury Systems
Treasury Cash Management
Treasury Debt Management

Fourth Floor
Communications & Training
Tax Services
Insurance & Risk Management

Checks can be picked up on the 4th Floor of 105 East 17th Street.

Feb 11, 2013

Important Tax Updates that Take Place January 1, 2013

Social Security Wage Base Increase:

For 2013, the IRS announced an increase in the Social Security wage base to $113,700, with a maximum employee Social Security tax withholding of $7,049.40.

Employee Social Security Tax Rate Reverts Back to 6.2%:

The Temporary Payroll Tax Cut Continuation Act of 2011 and The Middle Class Tax Relief and Job Creation Act of 2012 reduced employee Social Security payroll tax withholding by 2% to 4.2% through December 31, 2012. Effective January 1, 2013, employee Social Security payroll tax withholding will revert back to 6.2%.

Additional Medicare Tax:

As in prior years, there is no limit to the salary and wages subject to the 1.45% Medicare tax. Effective January 1, 2013, The Additional Medicare Tax requires employers to withhold 0.9% from salary and wages paid to an employee in excess of $200,000 in a calendar year. For additional information on the Additional Medicare Tax, please visit the Questions and Answers for The Additional Medicare Tax page on the IRS Website.

Jan 1, 2013