Holiday Closure
Our offices will be closing at 1:00 p.m. on Wednesday, July 3rd in advance of the July 4th holiday and will reopen Monday, July 8th.
Our offices will be closing at 1:00 p.m. on Wednesday, July 3rd in advance of the July 4th holiday and will reopen Monday, July 8th.
Greetings! Here are the recent developments for the upgraded Finance System (FIN 9.2).
We continue to work with the campus controllers and Employee Services on issues that must be resolved in order to close the month of December and the second quarter of FY 2016. We are tentatively targeting the December close date for Wed, Feb 17.
As indicated in our previous recap, we will confirm and communicate the close date on Mon, Feb 15.
We’ve learned of problems with the 1099 process. (1) Some individuals received 1099s – but should not have, since they had no reportable 1099 income. (2) Other individuals appropriately received 1099s – but with incorrect amounts on them, since all their CU payments were treated as 1099-reportable even though some payments were reimbursements. (3) And yes, other individuals received accurate 1099s – these correctly identified the 1099-reportable amounts.
The Procurement Service Center (PSC) will notify affected individuals directly, either (1) letting them know they should disregard their 1099s altogether, or (2) issuing them revised 1099s to correct the amounts.
It’s important to note that the University has not yet provided 1099 information to the IRS. The 1099 file will be corrected before it is sent to the IRS.
Thank you for reading our weekly updates email! For more information on these or other FIN upgrade issues:
We look forward to hearing from you.
1800 Grant Street, Suite 200 | Denver, CO 80203 | Campus Box: 436 UCA
Need Help? FSS@cu.edu
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