The University of Texas System Administration
Overview Presentation Objectives:
 Explain why we capture accruals
 Review end‐of‐year deadlines
 Review the Accrual SharePoint Library
July 2012
UT System Office of the Controller
2
Year‐end Accruals

Deloitte & Touche will be auditing the financial statements for FY 2012 and one of the issues raised by auditors is payment of vouchers in the new fiscal year that should have been paid or accrued in the prior fiscal year. 
At the end of fiscal year 2011, System Administration accrued $4.5 million of revenues and expenses from accrual forms submitted.

We already know that we have three separate requests from D&T covering subsequent payments to ensure that all expenses are booked in the proper period. First they will look at payments made 9/1/ to 9/30, then 10/1 to 10/15, and then all open invoices as of 10/15/2012. If you do not accrue a payment related to 2012, chances are pretty good that they will find it and include it as a finding.
July 2012
UT System Office of the Controller
3
Due Dates
August 20th –
Payment requests due to APS by 5pm to be included in August Statement of Accounts
September 5th – DEFINE closes for month of August
September 7th – Payment requests due to APS by 5pm to have in 13th month activity
September 14th – Rollback of prior period vouchers at
noon
September 14th – All accruals due to Controller via SharePoint site by 5pm
July 2012
UT System Office of the Controller
4
Accruals
 Only goods received or services performed prior to August 31st should be considered.
 An encumbrance is not an accrual. An encumbrance is a reservation of the use of funds, it does not affect expense.
 Talk to managers and others in your department. They may be aware of bills/invoices yet to come.
July 2012
UT System Office of the Controller
5
Examples to enter in Accrual Library
 Departmental travel occurred August 29th but centralized billing not yet received. Enter accrual in Accrual Library.  Contractor performed work on renovation prior to August 31st, but have not yet sent bill. Ask contractor for an estimate and
Enter accrual in Accrual Library.  Hosted lunch for BMC on August 30th but bill not received. Enter accrual into Accrual Library.
July 2012
UT System Office of the Controller
6
Examples NOT to enter in Accrual Library
 Already submitted payment request with invoice to APS by September 7th. This will be captured in departmental account.
Do not enter in Accrual Library.
 Registered an employee to attend training on September 10th. This occurs in next fiscal year.
Do not enter in Accrual Library.
 Expense reimbursement or offsetting revenue and expense transactions between System Administration and the institutions.
Do not enter in Accrual Library.
July 2012
UT System Office of the Controller
7
Accrual SharePoint Library
 $1,000 minimum absolute dollar value for accrual per payment.
 Each department will electronically enter the accrual.
 Upload support by scanning and attaching a pdf
to the accrual entry.
PLEASE NOTE: This does not change the process for payment once invoice is received.
July 2012
UT System Office of the Controller
8
Accessing the SharePoint Site
 Sherill Boline will distribute a form to complete for anyone needing access to the site/Accrual Library. Initial by your name if you continue to need access. If you need access and not on the list, add your name.
 Sherill Boline will update/create members accounts  An auto‐generated email will be sent to new members with access information.
 Existing members can access the site now at: https://moss.utsystem.edu/cont/default.aspx
July 2012
UT System Office of the Controller
9
QUESTIONS?
 Technical SharePoint Site Questions
Sherill Boline x4558 Sboline@utsystem.edu
 Accrual Questions
Dana Malone x4526 Dmalone@utsystem.edu
July 2012
UT System Office of the Controller
10