Finance and Administration News
Professional Development Pathways: Register for COA Fundamentals
The Chart of Accounts (COA) Fundamentals course is now available as a “core requirement” for the new Accounting and Purchasing certificates within OHIO Professional Development Pathways. This is an instructor-led course that is only offered at set times, so interested employees should discuss participation opportunities with their supervisors and register for one of the scheduled course times as soon as possible. For those who attended the Chart of Accounts Fundamentals course as part of the Financial System Enhancements project, the content has been updated to include additional information regarding the object segment and the function segment. References to the old Chart have been removed.
OHIO Professional Development Pathways officially launches
The Badging and Certification Project team is pleased to announce the launch of the first two certificates within the OHIO Professional Development Pathways (OHIO PDP) program.
New Online Training Registration
On-line course registration has recently been added as a new feature on the OHIO Professional Development Pathways website. Currently, this option includes two courses: “Performance Management for Non-Supervisors” and “Search Committee Training.”
Processing of lease expenses changes
Beginning July 1, Accounts Payable has changed the way lease invoices are processed. Previously, invoices for the entire fiscal year were entered at the beginning of the fiscal year. These invoices immediately debited expense accounts and released the encumbrance even though the expense was not paid immediately (it is paid out over the lease period by fiscal year).
Changes in Micro-purchase threshold – effective July 1, 2018
As shared in the October 2017 and April 2018 Business Forum, the procurement changes required under Uniform Guidance take effect on July 1, 2018. These changes apply to all federal awards. A federal award can be determined by referring to the Award segment numbering in the chart of accounts. The Award number for a federal award starts with one of the following number schemes: 11XXXXX, 12XXXXX, 21XXXXX, 22XXXXX.
Petty Cash Fund and Change Fund reconciliations due
Finance must have the correct balance of departments’ petty cash or change funds as of June 30 to finalize FY18 for financial statement purposes.
On June 8, Annette Niese sent an email with the reconciliation forms to all custodians who maintain a petty cash or change fund. Information, instructions and the reconciliation form were included in the email.