Subject: Fiscal Year End Deadlines - PLEASE REVIEW
From: Kevin O'Reilly <[email-masked]>
To: Candy Mathieu <[email-masked]>
Date: Wed, 18 Feb 2015 16:07:20 +0000

All Staff,

In keeping with tradition, here are the critical dates related to our fiscal year ending March 27, 2015.

Please take action on these items as soon as you can rather than waiting until the deadlines are upon us as these dates are not flexible. Thank you in advance for your efforts.

Ø  Subaccount:

·         Please clear all subaccount entries as soon as possible

·         Subaccount adjustments not submitted to Oracle by close of business on Wednesday, April 1, 2015, will be considered for write-off to your respective division/department

·         Subaccount entries that are required to be completed on paper must be received by the Payroll department by the close of business on Wednesday, April 1, 2015. Paper adjustments received after this date will be considered for write-off to your respective division/department

Ø  Labor Adjustments:

·         All paper and electronic labor adjustments must be received by Payroll by close of business on Wednesday, April 1, 2015.

·         Time remaining in the subaccount after this date will be charged as an unallowed expense to your respective division/department.

Ø  Travel Advances and Prepaid Airfare:

·         All outstanding travel advances and American Express charges, for business or events, incurred on or prior to March 27, 2015, need to be cleared or reimbursed to Abt Associates as soon as possible.

·         Balances greater than 90 days old and not cleared by Noon on Monday, April 6, 2015, will either be deducted from your paycheck or charged as an unallowed/unbillable cost against your respective project /division /department depending on the specific circumstances.

Ø  ETCs (Estimate to Complete)

·         Please pay careful attention to the ETC deadlines provided by each divisional controller

·         These ETC’s are a critical part of our year end results and are one of the first items reviewed by our auditors

Ø  Invoice and Expense Report Submission:

·         Abt Associates is required to record in its financial statements all costs incurred on or prior to March 27, 2015 (even if that work has not yet been billed to Abt).

®     This includes ALL of the listed invoice charges, whether the nature of the work is direct or indirect.

·         Employee Expense Reports – for travel and/or other costs incurred

·         Standard Vendors – i.e. Staples, FedEx

·         Consultants

·         Subcontractors

·         Department Managers, Project Directors, Portfolio Managers and other responsible individuals should make every effort to obtain up-to-date invoices from each of their vendors.

·         All invoices and expense reports of all types must be received by Accounts Payable no later than Noon on Monday, April 6, 2015 (Projects: See below for billing cutoff dates).

®     If an expense report covers dates that span our fiscal year end, please follow the guidance below:

·         Expense reports under $10,000 - If 60% or more of the days covered in the expense report relate to FY15, the entire expense report will be considered an FY15 transaction and should either be submitted to AP for reimbursement or accrued.

·         Expense reports exceeding $10,000 and covering dates that span our fiscal year end must be separated into two expense reports. The first for the dates prior to our year end and the second for dates after our year end.

Ø  Expense Accruals:

·         A detailed list of estimated costs incurred on or prior to March 27, 2015, for which you are unable to obtain and submit an invoice before Noon on Monday April 6th, 2015, should be submitted to your Division Controller (see below for listing) by the close of business on Tuesday, April 7, 2015.  If you have questions in regard to accruals, please contact your Controller.

§  April 7, 2015 is the last day we can record project costs in the accounting system for fiscal year 2015.

§  Please note that government auditors are increasingly attentive to the periodicity of costs charged to a particular year, therefore, it is very important that sufficient attention be given to this effort.

§  Thresholds for these accruals are $1,000 for expense reports and $5,000 for everything else.

Ø  ROVs (Remote Office Vouchers):

·         Please refer to the End of Fiscal Year Accounting Procedures email sent by Margaret Luttmann on January 23.

§  Do not hesitate to contact Margaret or your IAM if you have questions about the process.

Ø  Other Cost Adjustments (e.g., travel, invoices, FedEx, etc.):

·         Requests to change and/or transfer previously recorded project or indirect expenses must be received by Accounts Payable by Noon on Monday, April 6, 2015.

Ø  Funding/Contract Paperwork:

·         All contract set-up forms or modifications should be forwarded to the Controller Teams in Global Operations Control (for International Projects), PAs (for Domestic Projects), and then to the Billing department immediately to ensure the appropriate level of revenue recognition.

·         Project Directors, Portfolio Managers and other responsible individuals should review project funding limits, billing rates and incurred costs and adjust as necessary to ensure accuracy and a smooth close of FY15.

Ø  Billing Deadlines:

**We cannot adjust bills for costs received after the deadlines noted below**

Preliminary P12

(To be invoiced in April)

Subcontract, vendor and consultant invoices

3/25/15 5:00 p.m.

Travel Expense Reports

3/25/15 5:00 p.m.

** Costs received after this date will be billed in May **

Ø  Controller Assignments

USH

SEP

ERD

IEG

IHD

IT

CBO

Other Depts

Sarah Guroff

or

Beata Diagne

Sarah Guroff

or

Beata Diagne

Sarah Guroff

or

Dana Abu-Hassan

Sarah Guroff

or

Dana Abu-Hassan

Janelle Poldy

or

Teri Mack

Cesar Sanchez

Mike Powers

Mike Powers

Candy Mathieu |Senior Division Administrator| Abt Associates Inc.

55 Wheeler Street | Cambridge, MA  02138

O: 617.520.2835 | F: 617.386.8002| [email-masked]

www.abtassociates.com

This email was sent to ‘All Staff Abt’ in the bcc: field