In This Issue:
- Fiscal Year 2024-2025 Voucher Processing Deadlines
- University Assets Purchased in Bulk Guidance
- Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
Fiscal Year 2024-2025 Voucher Processing Deadlines
The fiscal year 2024-2025 voucher processing deadlines have been established. This includes payment vouchers, cash receipts, departmental entries and many more. It is encouraged to process documents as early as possible to avoid the year-end rush.
Please check the Accounting and Financial Management website for deadline reminders and year-end processing tips. Reminders are also posted on the “Good Morning” screen in DEFINE. If you have any questions, please contact Financial Accounting and Reporting (FAR) at oa.far@austin.utexas.edu.
University Assets Purchased in Bulk Guidance
HBP 16.2 Acquisition of Equipment has been updated to provide guidance for assets purchased in bulk. This is to comply with the requirements of the Governmental Accounting Standards Board Implementation Guide 2021-1, Q5.1. AFM’s Plant and Inventory Team will determine whether assets purchased in bulk will be capitalized and notify the departments.
For more information about this guidance, please contact the Plant team at oa.plt@austin.utexas.edu.
Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
Many thanks to the readers who have written in with suggestions and feedback about the newsletter. Please continue to write in with any suggestions for improvements or comments to the AFM@austin.utexas.edu email address.