Welcome to the Financial Operations & Treasury Quarterly Update!

This newsletter is a collaboration of Finance and Employee Systems & Services, Global Accounting & Financial Reporting, Global Payroll & Tax Compliance, Grants, Gifts, & Investment Accounting & Compliance, Office of the Bursar, Office of the Controller, Procurement & Payables, StudentLink, and Treasury.

In these newsletters, we will highlight important
news, information, and upcoming deadlines.

News

FY22 Year-End Close Calendar

The 2022 Year-End Close Calendar is now available.

The Calendar contains information regarding our month-end and year-end close cycles and provides important FY22 year-end dates for Global Accounting & Financial Reporting, Accounts Payable, Bursar, Budget, Payroll, and Procurement.

Fall 2022 Billing Schedule

The Office of the Bursar will be issuing Fall 2023 bills for Undergraduate students on Tuesday, July 12th. The payment deadline for this billing is Tuesday, August 2nd. Fall 2023 bills for Graduate students will be issued on Thursday, August 4th. The payment deadline for this billing is Thursday, August 25th.

Guidelines for Accounting & Reconciliation

The Guidelines for Accounting and Reconciliation were issued in May and reviewed with the Finance Council. The Controller's Office developed these guidelines to document best practices, ensure the University's financial records are accurate and complete, identify financial compliance issues, and support the expectations of employees with stewardship responsibilities. Please submit any questions to the AVP for Global Accounting & Financial Reporting.

Financial Reporting User Group

In March 2022, Beth Davidovich kicked off the new Financial Reporting User Group (FRUG) to connect financial reporting users across the university, share knowledge and innovation, and to provide a space for collaboration and constant improvement within the university’s financial reporting tools and practices.

In March, 20+ users from across more than ten separate schools and divisions got together and discussed the purpose, value, and best utility of the group and agreed to meet quarterly. Brought together with the hope of breaking through some of NYU’s silos of information, the recent June meeting of FRUG was abuzz with conversation and ideas.

Set to meet again in September, FRUG’s current ambitious and collaborative projects include (but are not limited to) enhancements to the D03 Dashboard in UDW+, projections and planning tools that can be customized and maintained at the school-level, and a reinvigorated investigation into better Fund Balance reporting and resources. If you are interested in participating in the FRUG, please contact Beth Davidovich.

Reminders

As a reminder, submit all contracts between NYU or an NYU affiliate and a Foreign Source that have a value of $50,000 or more throughout the year using the Foreign Contract Reporting Survey.

New York University (“NYU”) is required under Section 117 of the U.S. Higher Education Act of 1965 (“HEA”) to disclose to the DOE each gift from and contract with a Foreign Source that has an aggregate value of US$250,000 or more per calendar year. As required by the HEA, NYU submits reports to the DOE twice a year (January 31 and July 31) for the previous six-month period.

NYU is also required under Section 207-a of the New York State Education Law (“EL”) to disclose to the NYSED each gift from and contract with a foreign party that is valued at more than US$100,000. As required by the EL, NYU submits reports to the NYSED once a year (September 30) for the previous academic year.

Training & FAQs

New DoA Training Course

Are you a Delegation of Authority approver or steward? If you’re looking for a refresher on how to use DoA, take a look at the new FIN 206: Delegation of Authority training course. It’s a quick walkthrough of the core functions and new reports available in DoA.

Checking on i-Buy POs

Are you an NYU employee who would like to find the payment status of payment against a PO? Do you know there’s no need to make a call? You can get the answers to your inquiries by logging into i-Buy and searching for the payment by voucher and or PO number. Here is a tip sheet to guide you through: i-Buy NYU Tip Sheet: Managing Invoices.