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Controller's Office > News > Panther Post Newsletter

Newsletter 2015-2016 Volume 7

In this Edition...

  • Monthly Closing Calendars
  • Sr. Associate Controller Update
  • Surplus Warehouse Closed for Outside Repairs & Renovations
  • New Fleet Services Contract
  • IRS Form 1098-T for 2015 will be available online
  • IRS Form 1099-MISC for 2015 will be mailed to Vendors
  • Unaudited Annual Report Available
  • Reminders and Deadlines
  • Monthly Closing Calendars

    The December 2015 period in the general ledger has closed. When running your reports, please keep in mind that the reporting environment has a 24 hour delay in displaying data. The current and future month-end processing deadline schedules can be found at: Monthly Closing Deadlines.

    Sr. Associate Controller Update

    The Office of the Controller is pleased to announce that Peggy Boord will join the team in the position of Sr. Associate Controller, effective February 1, 2016. In this role she will oversee the Accounting & Reporting Service and Student Financial Service departments.

    Peggy comes to us from Florida State College in Jacksonville, where she served in multiple capacities including: Associate Vice President, Financial Services, Executive Director PeopleSoft Project and Controller. Her 16 year experience in higher education also includes a tenure at University of Great Falls, where she served as Vice President Administration and Chief Financial Officer.

    Her experience includes leadership in administration/finance operations and strategic direction, as well as oversight for financial reporting, Bursar, Controller, Payroll, Budget, Grants, Accounts Payable, and software and infrastructure upgrades.

    Peggy, who is a Certified Management Accountant (CMA), holds an MBA from Webster University and a Bachelor's degree in Accounting from the University of North Florida.

    Please join us in welcoming Peggy to the Office of the Controller and FIU!

    Surplus Warehouse Closed for Outside Repairs & Renovations

    The Surplus Warehouse is currently closed for outside repairs and renovations. We are expecting to reopen before the end of January.

    All Surplus Transfer Forms submitted to Property Control are being held until the Warehouse reopens.

    New Fleet Services Contract

    FIU has entered into a contract with First Vehicle Services (FVS) for the provision of maintenance and services to the FIU fleet. The contract is for an initial term of five years and has three additional five year renewal terms available as options.

    FVS will commence services fully in April 2016 and will be managed and overseen by Business Services. The overall savings to the University in the first year is anticipated to be an estimated $224,689, which is a 23% savings to the University on the current fleet maintenance and services costs.

    Following the successful implementation of the fleet services portion of the contract with FVS, they will commence offering lube, oil and filter services to the University community. This will give students, faculty and staff an opportunity to get their oil changes conveniently on-site at FIU for a competitive price. Business Services will be launching detailed communications about all of this in the coming months.

    IRS Form 1098-T for 2015 will be available online

    The IRS Form 1098-T (Tuition statement) for 2015 will be available online via the myFIU portal by February 1st, 2016. The Form 1098-T reports tuition charged and financial aid awarded to students enrolled in courses during the calendar year for which they receive academic credit. The information reported on Form 1098-T helps students evaluate their eligibility for certain Federal tax benefits. In accordance with Internal Revenue Service requirements, Florida International University (FIU) reports amounts billed during the calendar year for qualified tuition and related fees. The amounts reported on Form 1098-T may differ from the amounts relevant for claiming any tax benefits. For information regarding filing your tax return, tax benefits for education and tax credits or deductions relating to your Form 1098-T, please consult a tax professional. No Office of the Controller employee, nor any other Florida International University employee can provide individual tax advice.

    Also note that the University does not issue a Form 1098-T in the following cases:

  • If tuition and related expenses are completely waived;

  • If tuition and related expenses are entirely paid by scholarships or grants;

  • If a student is a nonresident alien;

  • If a student is enrolled only in not-for-credit courses.

  • IRS Form 1099-MISC for 2015 will be mailed to Vendors

    The IRS Form 1099-MISC for 2015 will be mailed to vendors by February 1st, 2016. Form 1099-MISC is used to report payments made to individuals and certain businesses (suppliers) that received payments from Florida International University (FIU) in excess of the $600 reporting threshold during calendar year 2015.

    The IRS requires that Florida International University obtain a Taxpayer Identification Number (TIN) for every person or business that receives payment. This information is provided on IRS Form W-9. US Citizens and Resident Aliens are required to complete a Form W-9 before receiving any payments from the FIU.

    Unaudited Annual Report

    The University's FY14-15 Unaudited Annual Report is now available in the Controller's website and can be accessed through the following link: http://finance.fiu.edu/controller/AnnualReports.html. Once the financial statement audit is completed later this year, the Audited Annual Report will replace this unaudited report. Please note that Audited Annual Reports for prior years are also available in the Controller's website. Any questions regarding these reports can be directed to Alexandra Mirabal in Accounting and Reporting Services.

    Travel Reminder

    Let's expedite approving Travel Authorizations, Cash Advances and Expense reports. Documents that have not been completely finalized and are older than 90 days will be cancelled or deleted by the Travel Department. For a list of pending documents, please click here. For information regarding report status abbreviations and how to close or cancel Travel Authorizations and/or Expense Reports, please click here.

    Monthly Departmental Card Deadline

    As a reminder, Departmental Card billing transactions regularly load the first business day of the month; program participants will have 10 days to process this activity in its entirety. This month's billing statement (dated 12/31/15) loaded into PantherSoft on January 5th and must be completely processed no later than noon, January 19, 2016.

    Any charges not processed by the closing deadline will be automatically charged to the cardholder's default accounting on file and will not eligible for expense transfer.

    Additionally, cardholders with three unjustified non-approvals in the same fiscal year will have their card limits temporarily suspended until they complete a retraining session.

    Unidentified Wire Transfers and ACH Payments

    The Controller's Office occasionally receives payments that cannot be applied to the appropriate department due to inadequate information. Click here for the list of unidentified wire transfers and ACH payments as of December 31, 2015.

    To claim a payment, please contact Cash Management (Angelmar Ortega, aortega@fiu.edu, (305) 348-2052 or Leslie-Anne Triana, latriana@fiu.edu, (305) 348-1250) and provide the following information:

  • payment details

  • activity details

  • account to which the payment should be recorded
  • Payments that are not identified within 45 days of the wire/ACH date will be returned to the sender.

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    Office of the Controller