FSO Newsletter May, 2005

May 23, 2005

In this month's edition:

1. Business Community Open Forum - May 24, 1-3pm, Student Union, Gallagher Theater.
2. Inventory, Accounts Receivable & Deferred Revenue Reporting due July 5, 2005
3. ERE Rates for 05/06 Approved
4. 2004-05 Fiscal Year End Processing
5. Kuali Project Update
6. Introducing FSO's New Employees

1. Business Community Open Forum - The next Business Community Open Forum will be held May 24th, 1:00-3:00, Student Union Gallagher Theater and the topic will be Training. The panelists will review their role in training, training offered by their areas, their expectations of the campus community re: training and any area updates.

http://www.boc.arizona.edu/bcof.htm

2. Fiscal Year-End Reporting of Inventories, Accounts Receivable and Deferred Revenues - The Financial Services Office is responsible for gathering information on the inventories, accounts receivable and deferred revenues or expenses throughout the University for accurate reporting in the annual financial statements. If your department has inventories, receivables or deferred revenues, it is your responsibility to ensure that these items are properly reported to the Financial Services Office by July 5, 2005.

Contacts: Kelly Grimm, mailto:grimmk@arizona.edu, 621-9196; Floyd Roman, mailto:romanf@arizona.edu, 621-7739

3. The ERE rates for the period July 1, 2005 through June 30, 2006 have been approved and can be seen at:

http://www.fso.arizona.edu/fso/ere/erefy06.htm
In addition, grant account budgeting rates for periods after June 30, 2006 (i.e. fiscal 2007 and beyond) are approved and can be seen at:

http://www.fso.arizona.edu/fso/ere/provisionalererates07.htm

4. Fiscal Year-End Processing - Another fiscal year end is approaching, both academically and financially. The memo at http://www.fso.arizona.edu/fso/yearend/YearendprocessingFY05.pdf includes information for ensuring that financial transactions are processed correctly; in particular the following are addressed:

- Importance of recording transactions in the proper fiscal year.
- Interim and final reports for the month ending June 30, 2005
- On-line FRS users conversion date
- Carry over of outstanding Purchase Orders and Travel Orders.
- Deadlines for submission of documents for payment in FY 04-05.
- Deadlines for submission of Payroll Expense Transfers and Other Accounting Transactions.

5. Kuali Project Status Update

Read more about the following at:
http://www.kuali.arizona.edu/MayUpdate.html

- April Functional Council Meeting - AP/Purchasing module demoed, enhancements identified; completed 2nd design critique; met with Technical Council; identified lead SMEs.
- Business Rules Configuration Proposal
- Module Updates - Work has begun on several modules.
- Testing - Usability by "real users" and functionality by as many as time and space will allow.

6. Introducing FSO's New Employees - The following employee has joined FSO in the last month:

- John Jennings, Accountant, Senior - Capital Finance, Property Management

Contact: Kymber Horn