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.
If a school or department wishes to close a PO for Funds 10, 12, 14, 16 or 20, please follow the instructions available on the Purchasing website. The deadline for submitting any PO close requests for these funds is Friday, September 27th. Please submit any questions to email@example.com.
Aug 14, 2013
This course focuses on Unrelated Business Income, or UBI, and why it is important that the University reports this income accurately. The activities that generate UBI, including a 3 part UBI test to help determine if any of your income-producing activities generate UBI; The types of activities that are exceptions to the UBI rules, with an example of each; And common University activities that require interpretation to determine whether or not they will generate UBI, including an example of each. After completing this course you can download a pdf reference guide that includes all the information in this tutorial, plus additional examples of common University activities that may generate Unrelated Business Income.
Who should take this course: University Fiscal Officers, their designees, and all employees who are responsible for their department’s financial activities
Course Duration: 15 minutes.
You can access this training in iLearn, which can be found on the Work tab on NYUHome.