Date: 5/30/2006
From: Bobbi Reynolds
To: Com-Admins-L@lists.ufl.edu
Subject: Correction of Negative Balances - Follow-up
Attachment: None


** High Priority **

Below is an email that was sent out by Sheela Moudgil on behalf of
Michael McKee concerning the negative balances on the C&G funds.

>>> "Moudgil,Sheela" <moudgils@UFL.EDU> 05/26/06 09:20PM >>>
 
May 26, 2006

 

MEMORANDUM

 

TO:                  Department Administrator

 

FROM:            Michael V. McKee, University Controller

 

SUBJECT:      Correction of Negative Balances - Follow-up

 

This is a follow-up to my memo dated May 18, 2006.  I wanted to share
with you a couple of developments and a clarification that should help
in your efforts to correct negative balances.  

 

It has been suggested that departments focus their attention on those
negative balances that are greater than $100.  This is a good
suggestion.  As a result, C&G offices will not move any charges to
default accounts if the negative balance on a project is $100 or less.

 

We have reviewed the retro pay distribution processing schedule and
are
going to increase the number of processes to two per week.  

*         Beginning June 1, retros will run Monday and Thursday  (no
retro on May 31)

*         We will review a more frequent processing schedule in the
future.  

*         For purposes of year-end closing, the last day to submit
retros for processing in June will be June 29.  

*         Retro processing will start again on July 27.  

*         Reports of processed retros will be available on Thursday
for
retros run on Monday and on the Monday at noon for retros run on
Thursday.   

*         Extreme care should be taken when reviewing processed retros
and when/if re-processing retros.  We want to avoid any chance of
double
processing the same retro.

 

Finally, a point of clarification.  The fact that C&G offices will
ultimately move charges to a college default account does not mean
that
it is the college's problem.  Departments are the appropriate group to
make these corrections.  

 

We sincerely appreciate your efforts in resolving this critical issue.
Please contact your C&G office if you have any questions.

 

MVM\