What's New in Finance and Administration

Fiscal Year End

The University's fiscal year ends June 30. Your assistance is important for the year-end closing. As the fiscal year end approaches, each department should review their current financial status and identify any revenue opportunities and/or expenses that should be recognized in current fiscal year, including the following:

Outstanding Encumbrances
Cash Collections
Unbilled Revenues
Purchasing
Accounts Payable

If your department has any of the above mentioned items be sure to refer to the Fiscal Year End Process.

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Change in Mileage Reimbursement Rate

Please be advised that the GSA mileage rate has been increased from 51 cents per mile to 55.5 cents per mile.

The mileage reimbursement rate decrease is effective for travel on or after May 15, 2012 for employees using personally owned vehicles on official state business. If you have any questions please contact Renee Knight in the Travel Office at x25455, or Anna Rivera-Alfaro, accounts payable coordinator, at x26848.

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Wanted: Your Cost-Saving Ideas

Last year we solicited your ideas on how to reduce expenses. Seventy-six suggestions provided ideas about ways in which the University could reduce expenses by conserving energy, using less office supplies, and taking advantage of technology, just to name a few. As we move into the new academic year, Southern's budget continues to face many challenges. Consequently, we continue to welcome your ideas on how to operate the university more efficiently and cost effectively.

Please submit your cost savings ideas at the following link: yourideas. The University Budget and Planning Committee will continue to review all suggestions in light of our budgetary situation and will make recommendations to the administration on their implementation.