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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.
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Financial Services Winter Break Support
Spring 2023 Billing Schedule
The Office of the Bursar issued Spring 2023 bills for Undergraduate students on November 30th. The payment deadline for the Spring Undergraduate billing is Tuesday, January 5th. Spring 2023 bills for Graduate students were issued on December 13th. The payment deadline for this billing is January 16th.
iTravel and Expense Project
Once implemented in mid-2023, the new travel and expense application will provide a best-in-class solution with an improved user experience combining travel, expense, card program, and travel safety while supporting the university's objectives of efficiency, sustainability, cost savings, and compliance. Watch the video to learn more.
FY22 NYU Consolidated Financial Statements
Financial Reporting Users Group (FRUG)
FRUG met for the fourth time earlier in December. Over the past calendar year it has proven to be a particularly collaborative and open environment for Financial Reporting Users to share information, be kept up to date on in-progress and recently completed initiatives and changes, and to brainstorm potential improvements to Financial Reporting across the university.
Most recently, FRUG members discussed:
- Proposed payroll accounting reporting improvements; and,
- The upcoming BI Portal
Frug meets quarterly and includes Financial Reporting Users from more than 8 schools across NYU's Global University.
If you are interested in participating in the FRUG, please contact Alyson Miller.
NYU's Grants Management System: CAYUSE MODERNIZATION IS UNDERWAY!
The Cayuse Modernization project will deploy a modern, flexible, and fully integrated sponsored project management suite. Cayuse Research Platform will offer better integration among all Cayuse applications as depicted below, facilitate routing, review, and approval collaborations amongst all partners including faculty and researchers, proposal specialists, compliance officers, and financial analysts. Smart form technology will help streamline workflows; enable configurable, automated email notifications for key actions that will enhance communications and speed the proposal to award and chartfield setup.
In addition to upgrades to in-app reporting which will place data at users’ fingertips, the Platform also provides a more robust API integration with external applications which will expand and significantly improve reporting capability. In January 2023, NYU will receive its user acceptance test (UAT) environment and implement a tiered approach in testing the functionality of the applications by working groups of all user types. Let us know if you're interested in joining the testing team by emailing eResearch.help@nyu.edu
Once the Cayuse upgrades are completed to existing tools, Research Finance Support (RFS/SPA) will begin our implementation of Cayuse Fund Manager, which has 5 categories of major functionality:
- Easy real-time portfolio & fund-balance access for all stakeholders: involved in the post-award management of a sponsored award including PIs and departments.
- Multiple levels of insight into ensuring spending compliance (allowable, allocable, reasonable, and consistent)
- Spending projections
- Flexible reporting and invoicing that can align with sponsor budget categories
- Robust multi-layered security configurations
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2022 IRS Form W-2 Elections
If you haven’t done so already, you have until December 23, 2022 at 11:59 pm (ET) to “opt-out” of receiving a paper 2022 Form W-2. Even if you miss the deadline for this year, you can change it at any time during the year. Just follow these simple instructions: Electronic Form W-2 Consent Quick Step Guide
Sales of Tangible Property
Please contact Caity Pujdak at 212-998-2961 or via e-mail at ck84@nyu.edu if you believe your school or unit is engaging in some of the above activities and not collecting and remitting sales tax.
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Check out the new Research Administration Training Resources Webpage
Newly developed resources - in conjunction with members of the Department Advisory Boards (DAB’s) - are able to be accessed here.
For more information, contact David Ngo, AVP, Grants, Gifts and Investments Accounting & Compliance (GGIA&C) at: david.ngo@nyu.edu.
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