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Controller's Office > News > Panther Post Newsletter

Newsletter 2017-2018 Volume 2

In this Edition...

  • Fiscal Year End 2016-2017
  • Annual Credit Limit Reviews
  • Credit Card Reconciliation
  • Reminders and Deadlines
  • Fiscal Year End 2016-2017

    The General Ledger for FY16/17 closed August 2nd. University Departments can now run reports for FY16/17.

    Annual Credit Limit Reviews

    We are currently conducting a spend analysis of all university issued credit cards for the 2017 fiscal year, in conjunction with their assigned credit limits.

    During this annual review, we analyze both single transactional purchases, as well as the overall monthly spend:

    • If we find a trend that a cardholder is regularly spending at their maximum limit or has requested numerous temporary limit increases throughout the year, we will recommend a permanent increase and provide an analysis of spending history.

    • If we note that a cardholder's credit limits are not regularly used, we will adjust their limits to align with their actual, historical spend. All cardholders will be notified by email, by the first week of September, if any changes were made (or recommended) for their cardholder account.

    Credit Card Reconciliation

    As a reminder, the scanning and attachment of receipts/backup documentation is a mandatory part of the Pcard reconciliation process.

    A scanned receipt and supporting backup documentation (flyers, attendance sheets, etc.) must be attached to each transaction line. While all charges must still be approved within 10 business days, Approvers will have until the end of the calendar month to complete attaching all documentation.


    Letís 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. A list of pending documents is located here. Information regarding report status abbreviations and how to close or cancel Travel Authorizations and/or Expense Reports would be found here.

    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 July 31, 2017) loaded into PantherSoft on August 2, 2017 and must be completely processed by end of the business day on August 15, 2017.

    Any charges not processed by the closing deadline will be automatically charged to the cardholder's default accounting on file and will not be eligible for a transfer. Cardholders with three unjustified non-approvals in the same fiscal year will have their card 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 July 2017.

    To claim a payment, please contact Cash Management 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.

    How to sign up for the Panther Post Newsletter

    If you wish to be added to the ListServ for the Panther Post, please email controller@fiu.edu.

    Office of the Controller