FISCAL YEAR END SURVIVAL KIT
TRAINING
CORAL GABLES CAMPUS
FISCAL YEAR 2015
Contact Information: Martha Arocha
University of Miami Controller’s Office
Tel: 305-284-6148
Email: m.arocha@miami.edu
1
Agenda
Importance of the Year-End close
What WE NEED YOU TO DO for Year-End close
Year –End close information and dates for:
•
•
•
•
•
•
Controller’s Office
Purchasing
Accounts Payable
Payroll
Office of Research
Audit & Advisory
2
Importance of a close
To prepare complete and accurate financial
statements for the University for the period
ending May 31st, 2015 to distribute to our
stakeholders (i.e. trustees, government
agencies, bondholders).
3
Important
THE CONTROLLER’S OFFICE
WILL SEND OUT THE YEAR END
CLOSING SCHEDULE MEMO IN
EARLY-MID MAY WHICH WILL
PROVIDE YOU WITH DUE DATES
AND CRITICAL INFORMATION
ON WHAT YOU NEED TO DO
4
WHAT WE NEED YOU TO DO
REVIEW EARLY & OFTEN
During the
month of MAY
review the
transactions
posted against
your accounts in:
RPT FR90, DATA
WAREHOUSE
DMAS/FRS
5
WHAT WE NEED YOU TO DO cont.
Review
for
possible:
Omissions
and/or
Errors
posted to
your
accounts
6
WHAT WE NEED YOU TO DO cont.
In order to be reflected in 1st PRELIM CLOSING - Submit
correction entries to FYE 2015 activity no later than:
June 1st, 2015 (HR Workday) – Payroll Accounting
Adjustments (PAA)
June 3rd, 2015 (related to DHRS Payroll
adjustments/corrections)
June 5th, 2015 (related to Non-Payroll corrections)
7
WHAT WE NEED YOU TO DO cont.
In order to be reflected in 2nd PRELIM and FINAL CLOSING - Submit
correction entries to FYE 2015 activity no later than:
June 11th, 2015 at NOON (DHRS Payroll)
June 12th , 2015 at NOON (Payroll Adjustments)- HR Workday
June 17th , 2015 (IDR manual Journal Entries )
8
WHAT WE NEED YOU TO DO cont.
June 18th, 2015 (Sponsored accounts 6XXXX non-payroll)
June 18th, 2015 (accruals and deferrals journal entries)
Refer to Year End Closing Memo; available on:
http://www.miami.edu/finance/index.php/treasurer/areas/controllers_office/
June 22nd, 2015 at Noon (non-sponsored accounts and non-payroll,
other than accruals & deferrals and interdepartmental charges)
9
CONTROLLER’S OFFICE
10
Controller’s Office
Journal Entries
• Journal entries should be submitted to the Controller’s Office in the following order:
•
Batch Control Form
•
Completed Journal Entry Form with approvals
•
Backup supporting documentation (i.e. approvals, DMAS screenshots, etc.)
• Batch Number Issues:
•
All journal entries require a Batch Reference ID
•
The Batch Reference ID first digit number should be tied to the trans. code
•
TC 030 Receipts should start with a 3##
•
TC 040 Disbursements should start with a 4##
•
TC 060 Journal Entries use 6##
11
Controller’s Office cont.
•
Journal
Entries
–
due
DEADLINES
on or before June 5th
for 1st Prelim closing
12
Controller’s Office cont.
DEADLINES
• On or before June 18th for
Revenue and/or Expense
Accrual for 2nd Prelim and
Final Closing
• On or before June 18th for
Sponsored Accounts
(6XXXXX) for 2nd Prelim
and Final Closing
13
Controller’s Office cont.
• On or before June 22nd at
Noon for non-sponsored,
non payroll and non
DEADLINES revenue deferrals or
expense accruals for 2nd
Prelim and Final Closing
14
Controller’s Office cont.
Year-End Accrual Procedures
The goal of the year-end accrual process is to recognize
revenues and expenses in the period in which the economic
events are incurred, regardless of when the payment is
received or paid, to ensure accurate presentation of revenues
and expenses.
Accrual basis accounting records revenues at the time when
services or sales are made rather than when cash is actually
received from customers.
It records expense at the time when services or goods are
received or performed rather than when cash is actually paid to
vendors.
15
Controller’s Office cont.
EXAMPLE OF AN EXPENSE ACCRUAL AND REVERSAL
• Example: UM Dept. receives office supplies from a supplier near
the end of a month, but has not yet received an invoice from the
supplier by the time we close books for the year
• ORIGINAL Journal Entry – May Entry
Debit - SLXXXX- XXXX (Expense)
Credit – GL XXXX-2531 (Liability)
• REVERSAL Journal Entry – June Entry
Debit - GLXXXX – 2531 (Liability)
Credit – SLXXXX -XXXX (Expense)
16
Controller’s Office cont.
To Accrue Revenue
Revenues are recorded throughout the year for services/goods rendered as well as
processing of cash receipts from third-parties during the period of service.
However, there could be a lag between the time a sale of services or goods to a thirdparty is complete and when the invoicing is done and recorded in the general ledger
or the payment from a third party is received and processed.
When revenues have been earned but not yet recorded via the standard business
processes, an accrual entry is necessary at fiscal year-end to recognize the revenues
in the fiscal year during which the business transactions occurred.
17
Controller’s Office cont.
To Accrue Revenue
To identify revenues that have been earned but not yet recorded, department staff
should review their records of sales to third-parties through May 31 and reconcile
such transactions against corresponding invoices or cash receipts recorded in the
general ledger.
18
Controller’s Office cont.
To Accrue Revenue
EXAMPLE OF A REVENUE ACCRUAL
• Example: To accrue for an Athletic Event that occurred within the
current fiscal year, but the revenue wasn’t recorded by the fiscal
cut-off because of non-payment by 5/31.
• ORIGINAL Journal Entry – May Entry
• Debit - Accounts Receivable - 1321
Credit – Auxiliary Revenue-0466
• REVERSAL Journal Entry – June Entry
• Debit - Auxiliary Revenue – 0466
Credit – Accounts Receivable-1321
19
Controller’s Office cont.
Accruals
All accrual journal entries should be supported by
documentation showing completion of the sale of services or
goods before the end of the fiscal year, and all journals should be
appropriately reviewed and approved.
Departments are expected to provide supporting documents if
the accrual entry is selected for review by the external auditors.
20
Controller’s Office cont.
To Accrue Expense
There are several ways to identify unrecorded expenses:
Analyze the nature of spending in your department
What types of expenses does the unit typically experience during
the year and when?
21
Controller’s Office cont.
To Accrue Expense
Pay particular attention to expenses usually occurring towards the
end of May
Analyze vendor invoices posted to FRS towards the end of May with
invoice date of June and prior.
Accrual estimates, for when vendor invoice information is
unavailable, should be discussed with General
Accounting/Controller’s Office prior to recording.
22
Controller’s Office cont.
Deferrals
Revenue deferrals represent revenues received before May 31st,
2015 but the activity giving rise to the revenue will not occur until
future fiscal years
23
Controller’s Office cont.
EXAMPLE OF A REVENUE DEFERRAL
• Example: Rent revenue received in May 2015 but it is for rent due
for the month of June 2015 (FYE 2016)
• ORIGINAL Journal Entry- May Entry
Debit - SLXXXX- XXXX
Credit – GL XXXX-2619
• REVERSAL Journal Entry - June Entry
Debit - GLXXXX – 2619
Credit – SLXXXX -XXXX
24
Controller’s Office cont.
Pre-Payments
Pre-payments represent expenses or services paid for in the current
year but to be used or consumed in the future fiscal year.
25
Controller’s Office cont.
EXAMPLE OF A PRE-PAYMENT
• Example: UM Department pays June’s rent in May
• ORIGINAL Journal Entry - May Entry
Debit - GLXXXX- 1522
Credit – SLXXXX-XXXX
• REVERSAL Journal Entry - June Entry
Debit - SLXXXX – XXXX
Credit – GLXXXX -1522
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Controller’s Office cont.
JOURNAL
ENTRY
INVOLVING
EXPENSE
ACCRUALS
(OTHER THAN
SALARIES ) &
REVENUE
DEFERRALS
SHOULD BE
SUBMITTED:
• Submit Journal REVERSING the accrual or
revenue deferral to be posted in fiscal year
2015-2016 together with ORIGINAL
journal
• Each journal should be submitted with
proper documentation including reason
why a deferral or accrual is needed.
• Each journal should be sent to Martha
Arocha via interoffice mail to the
Controller’s Office or hand delivered @
Gables One Tower, Suite 150M
• On or before June 18th for 2nd and Final
Closing
27
Controller’s Office cont.
Interdepartmental charges (IDR’S):
They may be presented
on various documents
such as journal entries,
IDR forms and
Sponsored form FA11
IDR’S are services
rendered by one UM
department to another
IDR’s are reviewed in
the Controller’s Office
before data entry enters
into FRS
28
Controller’s Office cont.
DEADLINES
• IDR’S – presented on a paper
form due June 5th for 1st Prelim
closing and June 17th for 2nd
Prelim
• IDR’s – entered on-line
through IDR system due May
29th to appear on FY2015
reports
29
Controller’s Office cont.
Cash Receipt Transactions
Bank of America UM
Concentration Account
(Bank 4)
Bank of America Medical
Concentration Account
(Bank 13)
Bank of America
Visa, Master Card & AMEX
Account
(Bank 16)
IMPORTANT REMINDER - from the Offices of the Controller and
Treasurer that incoming cash should be recorded on a timely basis
using uniform procedures at fiscal year end & throughout the year.
Depts. have a few business days before monthly closes to reconcile
cash. Contact the Treasurer’s Office to be added to the distribution
list for daily bank reports.
• It is extremely important to follow up on cash receipts when
sending invoices. Currently, there are monies just sitting in this
UM bank account that may belong to your department’s
accounts.
• Refer to the Medical Finance year end memo to ensure that all
deposits/cash receipts and related account reconciliations meet
the due dates to be included in the fiscal year end numbers.
• It is extremely important to reconcile the cash received from the
daily bank reports sent by the Treasurer’s Office to ensure that
you are recording any amounts that belong to your accounts
and they are not just sitting in suspense accounts.
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Controller’s Office cont.
• Cash Receipts to Bursar’s Office
• 1st prelim – May 29th by 1:00 pm
DEADLINES
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PURCHASING
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Purchasing
Review all purchasing
encumbrances and notify
Purchasing Department of
any discrepancies
Ensure that all change
orders are processed timely
to enable AP to process
invoices without delay
• DMAS Open Commitments
Screen & the Open
Commitments Status
Section in FR90 Report are
good tools for this analysis
• This will ensure that
Accounts Payable’s
processing of invoices is
not delayed and that
invoices are processed in
the correct fiscal year
33
Purchasing cont.
Closing Purchase Orders
• Ensure that all invoices
have been paid before
closing a PO
• If an invoice is
received in late May
and the PO has
already been closed; a
new PO is needed
Change Orders
• FY15 closes June 19th, 2015
.
• New change orders for FY16
won’t be processed until FY15
is closed
• An end user can create a
change order in UMeNet, but
it may not be approved by
Purchasing and/or appear in
DMAS until mid – June
34
Purchasing cont.
Capital Equipment
• All capital equipment
needs to be delivered and
installed before May 31. If
not, it will be charged to
FY16
Standing Purchase
Orders (SPO’s)
• Standing purchase orders
are allowed for services
• SPO’s are NOT allowed for
catering and supplies
(Airgas is an exception to
this rule)
35
Purchasing cont.
Sponsored Accounts
• PO’s using a sponsored
account may not need to
be closed. The only way to
know is to check DMAS to
see when the account
expires
Paper Requisitions
• In general there should be
no paper purchase
requisitions
• In the future Workday
won’t allow us to create
paper orders
36
Purchasing cont.
Encumbrances (Commitments)
An encumbrance or commitment is a mechanism used to
burden or decrease the free balance of an account
Encumbrances will be zero by the 2nd close of the fiscal
year end but note that encumbrances on PO’s will carry
forward if not deleted with the Purchasing Department
Encumbrances may or may not carry forward
37
Purchasing cont.
What are the Steps Involved in Your
Purchasing Encumbrance Review of
Open Commitments
Review the validity of open
encumbrances:
What should you do if you
encounter open PO’s that
have no invoices pending
and should be closed
• By reviewing the DMAS Open Commitments screen
• Or the Open Commitments Status section of RDS Report FR90
• Refer to Purchasing Policy BSJ-010- Change or Cancellation of an Order
• http://www.miami.edu/finance/index.php/purchasing/polic
ies_procedures/
• Contact the Purchasing Dept. at your campus if you need their
assistance or you think there might be a system issue with the
remaining encumbrance
UMeNet has an e-form tool
• Review releasing encumbrances/closing PO’s
that may be used to release
document instructions
encumbrances from the
• To log on to UMeNet go to: http://enet.miami.edu
account and delete the PO
38
Purchasing cont.
How to Close a Purchase Order
Using the Purchasing Doc Close eform
1. First, be sure all invoices have been paid and all checks have been issued.
2. Open Internet Explorer and go to https://enet.miami.edu
3. Log into UMeNET using the Cane ID username and password. HINT this is the same login
used for MyUM to
view paychecks and benefits.
4. Click the Purchasing tab.
5. In the green tool bar click Create.
6. From the drop down menu, choose Purchasing Doc Close. HINT If the document doesn’t
appear, try clicking the double arrows, then More.
39
Purchasing cont.
40
Purchasing cont.
13. Type additional comments explaining why the PO needs to be closed. Note attachments are not
required by Purchasing and may be utilized for personal records.
14. Click Submit to begin processing.
41
Purchasing cont.
• Purchase Orders: create or
DEADLINES change thorders for old year –
May 29 , 2015 by 1:00 pm.
42
Purchasing cont.
CONTACTS
• Purchasing (Purchase Orders)
• Ignacio Calle 8-8963
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ACCOUNTS PAYABLE
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Accounts Payable
ACCOUNTS PAYABLE FYE15 PROCESSING TIPS
Fiscal Year End 2015 processing period will run from 06/01/15 – 06/16/15.
All PO invoices , eChecks, and eBERFs must be submitted for processing by Friday May
29th, to ensure processing to FY15.
Check your POs to ensure there is no open encumbrance/unpaid invoice. Contact
vendors and request an invoice copy if not yet paid, and submit to AP.
During the Fiscal Year End processing period, AP will pay an invoice that has
insufficient funds on the PO, if you write “OK to Force” on the invoice and print name,
sign, and date it.
The last day to submit exceptions (items that could not be delivered to AP by
05/29/15 due to exceptional circumstances) to AP is Tuesday 06/02/15 to be included
in the 1st preliminary Report 90.
45
Accounts Payable cont.
Final exception items must be in AP no later than 12:00 pm (noon) on Friday 06/12/15, in
order to appear in the Second Prelim Report 90. NOTE: AP/Disbursements will make every effort
to reach these exception processing timelines, however they are not guaranteed; hence the
importance to submit documents by 05/29/15.
During the FYE period, payment for eCheck and eBERFs may be delayed for few
additional days and may not occur on the same date the document is fully approved.
All items approved on or after June 17th will post to the New Year, FY16.
The fiscal year applied to an expense is based on when the good/service/transaction
took place, and not on when the funding is available in the account.
PO invoices must be delivered to Accounts Payable located in Gables One Tower #400,
Loc. Code 2943. Invoice copies attached to a Purchase Requisition in ARIBA are
document backup only and do not arrive in AP.
46
Accounts Payable cont.
Purchasing Card
It is critical that all cardholders reconciling transactions in the Corporate Account
Reconciliation system (CAR), pays close attention to the mapping dates and the period
that will be mapped.
It is a common practice to map weekly during fiscal year end. The following link
provides the dates for mapping to FRS and the mapping period.
Any reallocation or splitting of charges must be done within the periods shown for
fiscal year end.
The following link provides the dates for mapping to FRS and the mapping
period:
https://umshare.miami.edu/web/wda/treasurer/Accounts%20Payable/Fiscal
%20Year%20Ending/PCard_Mapping_Schedule_FY15.pdf
47
Accounts Payable cont.
• eChecks & Travel Cards
• eBERFs /BERFs (employee
reimbursement)
DEADLINES
• Accounts Payable Invoices
• Due date - 1st Prelim – June 2nd
• Due date – 2nd and Final – June 12
Noon
48
Accounts Payable cont.
• Accounts Payable
CONTACTS • Hazel Burgess – 8 -1962
• Elsa Liauwapau – 8- 2287
49
PAYROLL
50
Payroll
Payroll Journal, Salary Accrual and Default Account
Payroll Journal
Payroll salary accrual
Default account
51
Payroll cont.
Default Accounts –
are not valid
accounts to hold
salary charges.
These accounts are
used as temporary
buckets until the
correct account is
identified.
Default Accounts –
must be cleared
Payroll journals must
be processed as
soon as possible, no
later than June 5th,
2015 for 1st Prelim
closing
52
Payroll cont.
For 2nd Prelim and
Final closing - DHRS
Salary Journals s/b
submitted by June
11th, 2015 by Noon
For 2nd Prelim and
Final closing
Payroll
Accounting
Adjustments in
HR Workday s/b
transmitted by
June 12th, 2015
by Noon
Note: Any charges left
in default accounts
after June 12th, 2015
will be charged to
your dept. accounts
53
Payroll cont.
Payroll Corrections/Payroll Accounting Adjustments Cut Off Dates
Deadlines for Departmental submission
June 1st HR Workday, June 3rd DHRS
For May 1st Prelim Closing
Reflected in FRS/DMAS on
Ongoing through June 8th
Ongoing, final reflected on June 19th
June 11th DHRS, June 12th HR Workday at Noon
– For May 2nd and FINAL closing for FY15
54
Payroll cont.
Salary accruals - will be run by the Payroll Office and will appear on 1st Preliminary closing
reports as follows:
Pay Type
Pay Period
Bi-weekly
payrolls:
Paid On
Entry
Estimated FRS
Posting date
5/07/15 – 5/20/15 5/29/15
7 days accrual
6/2/2015
Student
payroll:
5/07/15 - 5/20/15 5/29/15
7 days accrual
6/2/2015
9/12 Faculty
payroll:
5/01/15 - 5/31/15 5/29/15
7 days accrual
Accrue 12th
payment
(100%)
6/2/2015
55
Payroll cont.
• Payroll & default Salaries
• Due date – 1st Prelim closing
– June 1 WD, June 3 DHRS
DEADLINES
• Due date – 2nd and Final
Closing – June 11 DHRS, June
12 WD Noon
56
Payroll cont.
CONTACTS
• Payroll
• Alicia Lopez – 8-3556
57
OFFICE OF RESEARCH
58
Office of Research
Office of Research Administration - FYE ‘15 Notes
Sponsored (6) accounts do not close at Fiscal Year End
•Close out is instead based on the award budget year
e-BERF and e-Checks do not have a deadline for Year End on Sponsored Accounts
Critical Points
•Review salaries charged to Sponsored accounts
•Salaries should be charged where time/effort was spent
•Submit cost transfers before the deadline
•Effort must reflect in the appropriate fiscal year
•Work Day effort certification period will start Mid August and FY 2015 cost transfers need to have been processed
Clear all encumbrances on Default accounts
Submit all cost transfers to clear Default account by deadline
Submit Non- salary cost transfers before the deadline
59
Office of Research cont.
Salary transfers and Default clearing
Pay Class
FEI/FA-10
WD
Monthly
Through 3/31/15 Pay Day
Start 4/30/15 Pay Day
Bi-weekly
Through 4/6/15 Pay Day
Start 4/17/15 Pay Day
Students
Through 4/6/15 Pay Day
Start 4/17/15 Pay Day
60
Office of Research cont.
Tip Sheet Summary for Cost Center Managers
Payroll Accounting Adjustments (PAA) process to ORA
• Costing allocation:
o
o
o
o
Formerly DHRS account distribution
Always use for future allocations
Make sure the costing allocation is prepared on the correct ” position”
Do not fill in the “ Position Restrictions” When you put something in
position restrictions, it narrows what the costing allocation applies to
• Payroll Accounting Adjustments
o
o
o
o
formerly salary cost transfer – FEI and FA-10
always use for retro allocations
make sure is prepared on the correct “ position”
make sure is prepared on the correct “earnings”
61
Office of Research cont.
HR Workday – Payroll Accounting Adjustments
IMPORTANT TIPS
Initiated by the Cost Center Managers or the Finance Business
Process Initiator
Transmitted to the ORA office for review and approval
When approved, data included in the FRS integration file
Batches released into FRS
For further details how to create payroll accounting adjustment,
click link below:
http://www.miami.edu/index.php/workday_hr/training/tip_sheets/finance/
62
Key Contact List
63
Year End Deadlines
Dates below reflect when information must be received in central offices:
(*) – Report 90’s reports can be accessed
on-line via the Report Distribution System
(RDS) the day after the system produces the
reports.
(**) – HR Workday Labor Distribution
Reports can be accessed in Workday upon
user request, when the reports become
available.
Note: Salary information on Report 90’s and
HR Workday Labor reports for 1st Preliminary
Closing will not reflect the same
information. This was done to allow all
payroll journal entries received to date to be
reflected on FRS on a timely basis.
Therefore, only for 1st closing, FRS will have
more up-to-date information.
Reference: Year End Closing Memo
64
Current Addresses Central Offices
65
Office of Audit and Advisory Services
Coral Gables Campus
Jill Baron
OBJECTIVES
To create awareness of:
• Internal Controls
• ’CaneWatch for Reporting
Improprieties
• Audit and Advisory Services as a
Resource
OFFICE OF AUDIT AND ADVISORY SERVICES
67
Internal Controls - is a process
for assuring achievement of an
organization's objectives in
operational effectiveness and
efficiency, reliable financial
reporting, and compliance with
laws, regulations and policies.
OFFICE OF AUDIT AND ADVISORY SERVICES
68
Internal Controls
Reviews and Reconciliations
Perform
frequent
reviews
of
financial
activity
reflected
in FRS
Report
90’s
• Closely review expenses
• Look for inappropriate charges - Is it
reasonable?
• Review revenues, including cash receipts for
reasonability and outliers
• Compare entries to approved source
document
(e.g., Invoice, contract, etc.).
• Question everything
• Do not accept an answer that does not
make sense
OFFICE OF AUDIT AND ADVISORY SERVICES
69
Internal Controls
Segregation of duties
• The Reconciler should not be
approving and recording expenses
• The Cashier should not record the
deposits and reconcile to the Report
90’s/ DMAS
Compensating Controls
• An independent party (no access to cash,
inventory, or approval authority) should review.
OFFICE OF AUDIT AND ADVISORY SERVICES
70
1
• The U has been the victim of financial fraud perpetrated by its
employees.
2
• There are things that each of us can do to maintain ethical
standards and financial controls.
3
4
5
6
• Internal Control Policy
• Fraud Policy
• Training
•‘CaneWatch Hotline
Ensure an Open and Ethical
OFFICE OF AUDIT AND ADVISORY SERVICES
71
Detection Methods of Occupational Fraud and
Abuse
Tip
Management
Review
Internal Audit
By Accident
Account
Reconciliation
Document
Examination
External Audit
Notified by Police
Confession
IT Controls
Surveillance/
Monitoring
OFFICE OF AUDIT AND ADVISORY SERVICES
Other
72
The most common
method of
detecting
occupational fraud
is….
OFFICE OF AUDIT AND ADVISORY SERVICES
73
Initial Fraud and Abuse Detection Methods

Tips is the #1
method for
identifying fraud
45.00%
40.00%
TIPS
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
2010
OFFICE OF AUDIT AND ADVISORY SERVICES
2012
Other
Confession
IT Controls
Notified by Law Enforcement
Surveillance
External Audit
Document Examination
Account Reconciliation
By Accident
Internal Audit
0.00%
Management Review
Management
review and
Internal audit
follow as 2nd and
3rd.
Tips

2014
74

Open, honest communications are
the expectation, not the
exception.

Employees should feel
comfortable approaching their
supervisor to discuss a violation of
policy that may have occurred. You
may also contact Office of Audit
and Advisory Services (8-2605).

’CaneWatch can be used to report
violations of policies. ’CaneWatch
is hosted by EthicsPoint, a third
party hotline provider.
’CaneWatch
The University of
Miami’s
Confidential
Hotline.
75
’CaneWatch

’CaneWatch is open to any individual who wishes
to report a concern regarding irregularities at the
University of Miami.

All reported incidents will be considered and,
where appropriate, investigated.

University of Miami employees who report an
activity that may be in violation of a law, rule, or
regulation are protected against retaliation by
the Whistleblower Protection Statement.
www.CaneWatch/ethicspoint.com
Or call 877.415.4357
OFFICE OF AUDIT AND ADVISORY SERVICES
76
“Fraud is an avoidable waste of University
resources. It creates a distraction from
important work and negatively impacts
employee morale and the University’s
reputation. Together, we must work to
strengthen internal controls and create an
environment where integrity and ethical
behavior are relentlessly enforced.”
Joe Natoli
Senior Vice President for Business and Finance & Chief
Financial Officer
Source: Email sent to University community on April 5, 2012
77
Office of Audit and Advisory Services
For more information please contact:
Jill Baron
Hospital Audit Manager
Coral Gables 8-2605 Medical 6-6589
jbaron@miami.edu
Important Note
Please designate a responsible
individual in your area to be available
through August 28th to answer
questions pertaining to journal entries,
account status, analysis needed for the
auditors, and other information
required for the year-end closing.
79
Questions?
Fiscal
Year End
Topics
80
Have a Successful Fiscal Year-End 2015!
81