Announcement on Reimbursement for Fringe Benefit Expenses:
The following message only pertains to the College Park Campus and only to College Park's KFS users' state-supported accounts.
As previously communicated in the FY17 Budgetary Guidelines from the Provost back in July (http://www.provost.umd.edu/pers-bud/finpolanalysis/index.html), reimbursement for fringe benefit expenses to state-supported "fringe-reimbursable" accounts will be reflected in the August
activity and on the August month-end KFS statements. A new object code, "2798 - Central Fringe Benefit Reimbursements" has been created and is being used for the monthly reimbursement. In August, you will see two sets of transactions: 1) credit for July fringe benefit expenses, and 2) credit for August fringe benefit expenses. We are using a newly created Automated Journal Entry (AJE) to post the credits to these state-supported accounts; the activity will post on the last day of the month. Going forward, each month the AJE will post a credit to reimburse the account for fringe benefit expenses charged to object codes 2701 - 2797 and 2799 during that month; the AJE process will always run at month-end and appear in the KFS activity for the current month in which the benefits expenses were charged. Please also note that reimbursable cost share accounts are being handled separately but in a manner consistent with the above; those accounts were previously reimbursed for July activity and will be credited for August expenses along with the upcoming month-end process. Please note that any corrections (there were a few accounts identified at the end of July) will be posted in August and these accounts should be fully reimbursed, on a year-to-date basis, as of the August month-end close.
Please do not hesitate to let us know if you have any questions about this process. If you are in an academic unit, please contact your College Business Officer, particularly if you believe an account
should have been included in the reimbursement process. College Business Officers should contact either Dylan Baker or Dan Ramia for additional guidance. For non-academic units, please contact Danny Catalano (x5-7827, firstname.lastname@example.org) or Michael Simms (x5-2107, email@example.com) in the Office of Budget and Fiscal Analysis.
Many thanks for your support and patience as we implement this new process for FY17.
FY17 Monthly Accounting Closing Schedule Month End Day of the Week Date Payroll Pay Periods Included July (FY17) Friday 07/29/2016 PP01; PP02 August Wednesday 08/31/2016 PP03; PP04 September Friday 09/30/2016 PP05;PP06 October Monday 10/31/2016 PP07; PP08 November Wednesday 11/30/2016 PP09; PP10 December Thursday 12/29/2016 PP11; PP12; PP13 January Tuesday 01/31/2017 PP14; PP15 February Tuesday 02/28/2017 PP16; PP17 March Friday 03/31/2017 PP18; PP19 April Friday 04/28/2017 PP20; PP21 May Wednesday 05/31/2017 PP22; PP23 June Friday 06/30/2017 PP24; PP25; PP26 June (Interim) Friday 07/14/2017 N/A June (Final) Friday 07/21/2017 N/A July (FY18) Monday 07/31/2017 PP01; PP02
Directions for removing Travel and PO Encumbrances can be found on these links:
Month End Notice:KFS month end processing will be Friday, 9/30/16. Please have your Auxiliary Vouchers, Distribution of Income and Expense, General Error Correction, Transfer of Funds and Salary Transfer documents into the Comptroller Office Reviewer Groups by Noon on 9/30/16 for inclusion in the September month end process.
Training registration is now available. Please go to the Training menu and select the Training Registration for more details.
Information on Multi-Factor can be found on this link: