In sponsored programs, proration refers to adjusting expenses, so they reflect the actual period or portion of a cost that benefits a specific project or activity.
While the start of FY27 is still several weeks away, we want to provide an early reminder about how account balances will appear in OBI during the fiscal year transition. Sharing this information in advance helps users understand what to expect when reviewing balances at the beginning of the new fiscal year.
As we head into the final stretch before fiscal year ending June 30, the coming weeks will be especially important for campus finance administrators. Now is the time to begin tying up loose ends, ensuring records are accurate, and preparing for year-end closeout activities.
Fiscal year-end is quickly approaching, and now is the time to review your accounts, resolve outstanding items, and prepare for a successful close. Taking action early can help avoid last-minute issues, reduce delays, and ensure transactions are recorded accurately.
As a continuation of our series on nonresident alien (NRA) taxation, this article focuses on hiring and paying faculty and staff classified as NRAs for U.S. tax purposes. Because these employees are paid through payroll and may qualify for tax treaty benefits, coordination across campus is essential to ensure compliance.
As we approach fiscal year-end, please review any goods or services that were received in FY26 but have not yet been invoiced by the supplier.
As communicated last year, Ohio University has executed local hotel contracts with the Ohio University Inn & Conference Center (OU Inn) and Hampton Inn Athens. The benefits of these contracts include:
The submission deadline for final FY26 PO invoices, Payment Requests, and Direct Payments (DPs) is Friday, July 24, 2026.
As summer approaches, many of us look forward to taking a well-deserved break. However, it's important to remember that this period also aligns with the University's fiscal year-end close.
As you begin to make plans for FY27, you may pay invoices prior to June 30, 2026 that should be recorded as an expense in FY27. Therefore, we are going to review prepaid expenses and how you must handle accounting for these.