MyFD News—Biennium Close Edition
Biennium Close Quickly Approaching!
Wondering how best to prepare for the Biennium Close and stay apprised of Biennium Crossover deadlines? Financial Services Biennium Close web pages include extensive information about Biennium Close deadlines, processes, and terminology. Additionally, Financial Services offers Biennium Close Training; training dates and options are available online
MyFD Biennium Close Calendar
Curious when your MyFD transfers will post during Biennium Crossover? Refer to the MyFD Biennium Close Calendar or check out our new interactive demonstration. These resources explain which months’ transactions will be uploaded to FIN each night. Additionally, the calendar includes cutoff dates to submit MyFD transfers for the 2007-2009 biennium. Please note that cutoff dates and FIN uploads listed on the calendar are inflexible; if a transaction is not submitted before the final 2007-2009 upload, it will NOT post to the 2007-2009 biennium. So, save yourself the worry and transfer early!
Important MyFD Reminders!
- Transfers from a closed biennium are ONLY allowable if they involve transferring expenditures to or from a grant budget (budget type 05). One more reason to submit transfers early—once the biennium closes, most transfers from the closed biennium will NOT be allowed!
- MyFD transfers that require Central Office review should be submitted by July 15th to ensure enough time for the Central Office to review the transaction and, if necessary, return it to the department for corrections before the July 21st deadline. Find out which transactions require Central Office review.
- During biennium crossover, transfers from the current biennium and the prior biennium must be transferred separately.
As an example: if you’re transferring salaries for one individual from both June and July of 2009, the June transactions must be done on one Expense Transfer Form, the July transactions on a second form.
Where’s My Budget Balance?
During the Biennium Crossover periods (June, July, and August of odd years), MyFinancial.desktop (MyFD) may not display Budgeted Amounts. Budgeted amounts for biennial budgets are not available until late August, after all final calculations for the closing biennium are complete. Until this time, there are no budgeted amounts available in the University’s financial systems, including FIN/FAS and the Buget System (BGT)
But I’m looking at grant budgets, which aren’t biennial; why can’t I see the budgeted amount?
Even though we know the budgeted amount for grants, during the Biennium Crossover period, all budgeted amount data becomes unavailable in the University’s financial systems. When the budgeted amounts for biennial budgets become available, budgeted amounts for ALL budget types, including grants, are uploaded to the Budget System and Financial Systems; this generally occurs in late August. At this point, the budget balance for grants will be re-displayed in MyFinancial.desktop.
Deleted Forms on Saved & Submitted
We’ve heard you! You’ve asked that deleted forms disappear from the Saved & Submitted page—they will! Deleted forms will remain available on the Saved & Submitted page for three months. After three months, the deleted forms will no longer be displayed on the Saved & Submitted page.
Why display the deleted forms at all?
You never know when you’ll realize you actually need a deleted form! Deleted forms are displayed so that if a user prepares an Expense Transfer form, then deletes it but later discovers they DO need to transfer the transactions on the deleted form, they don’t have to start from scratch. It’s simply an effort to help reduce potential work for our users.
Real Estate Office Recharge Process Changing
The UW Real Estate Office is focusing on streamlining the rent payment process. As result, effective with the July 1, 2009 rent expense payment, only one budget number per lease will be charged for rent.
If your rent expense payments need to be charged to more than one budget, you may use MyFD Transactions to transfer the rent expenditures.
Questions about the rent payment process change should be directed to the Real Estate Office: uwreo@u.washington.edu
MyFinancial.desktop Training Update
The MyFD Customer Support team has been hard at work revamping our training offerings. In an effort to provide campus users with the most comprehensive training, we’re now offering THREE MyFD courses:
Basics of Financial Reporting Using MyFD
Managing Budgets Using MyFD
MyFD Queries Workshop
Course descriptions, dates, times, and registration info available on the MyFD Training Resources page. Class sizes are limited, so register now!
Corrections to Note
In the April Newsletter, we noted that “[GCA] will continue to process RTE forms for deficit transfers, fabrications, and benefits only transfers…”. However, GCA will NOT be processing RTE forms; the RTE form has been officially retired. Below is the corrected information regarding the RTE.
RTE Form Officially Retired
As My Financial Desktop has fully implemented the Transactions application to campus, the time has come to retire the paper Request to Transfer Expenditure (RTE) on grant and contract budgets. Effective April 15th, all Requests to Transfer Expenditures must be processed by departments through the Financial Desktop Transactions application. RTE forms, as well as Requests to Transfer Expenditures submitted on paper Journal Vouchers (JV), received in GCA after April 15th will be returned to the department. A new Deficit Transfer Request form will be available on April 15th. Please refer to the grant and contract cost transfer policy at http://www.washington.edu/research/osp/gim/gim15.html or contact gcaques@u.washington.edu for any expenditure transfer compliance related questions.
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New Training Sessions Offered!!!
The MyFD Customer Support team has been hard at work revamping our training offerings. In an effort to provide campus users with the most comprehensive training, we’re now offering THREE MyFD courses:
-Basics of Financial Reporting
Using MyFD
-Managing Budgets Using MyFD
-MyFD Queries Workshop
Course descriptions, dates, times, and registration info available on the MyFD Training Resources page. Class sizes are limited, so register now!
Contact Us
myfdhelp@u.washington.edu |
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