Financial Operations

Financial Operations

Year-End Closing - Bank Deposits - In-person teller transactions

Friday, June 29th, 2012 1:00 PM

BOA branch in-person teller transaction:  Friday, June 29 - 1 p.m.

Year-End Closing - Bank Deposits - Automated Deposit Stations

Friday, June 29th, 2012 8:00 AM

Automated deposit stations: Friday, June 29 - 8 a.m.

Year-End Closing - Bank Deposits - Metro Delivery & U-M Couriers to BOA

Friday, June 29th, 2012 8:00 AM

Metro Delivery and U-M couriers to Bank of America (BOA):  Must be received by BOA before 8 a.m., Friday, June 29.

Year-End Closing - Journal Entries and Service Unit Billings (SUB) - 11:30 p.m.

Saturday, June 30th, 2012 (All day)

Online journals and SUB files are due Saturday, June 30 - 11:30 p.m.

Year-End Closing - Automated SUB files

Friday, June 29th, 2012 5:00 PM

Automated (system-to-system) SUB files are due Friday, June 29 - 5 p.m.


Accounts Receivable Year-End Closing - Sales Invoices and Credit Memos

Friday, June 22nd, 2012 4:00 PM

Sales invoices and credit memos issued through the central general receivables system are due by Friday, June 22 - 4 p.m.

Accounts Payable Year-End Closing - Concur

Tuesday, June 26th, 2012 5:00 PM

Concur expense reports, including P-Card transactions, submitted and approved at the department level by Tuesday, June 26 - 5 p.m.

Accounts Payable Year-End Closing - Non-POs

Friday, June 22nd, 2012 5:00 PM

Non-purchase order vouchers for reimbursements (students and guests) are due Friday, June 22 - 5 p.m.

Accounts Payable Year-End Closing - POs

Monday, June 11th, 2012 5:00 PM

Purchase Order payments (paper vendor invoices) and non-purchase order payments to vendors due Monday, June 11 - 5 p.m.

Facilities and Administrative (Indirect Cost) Rates for Federal Sponsored Programs

Dear Colleague:

I want to provide you with an important update about the university's Facilities and Administrative (indirect cost) Rate Agreement. We recently negotiated an extension to our current rate agreement for the period starting July 1, 2011 and ending June 30, 2014, which includes a one-point increase for on-campus organized research from 54.5 percent to 55.5 percent. The extension also assigns provisional rates for periods after June 30, 2014, until our next rate agreement is negotiated.

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