Payments

Policy

FIACCT 05-16_00 Payments– Prior year payments – overview

Effective: July 1, 1995
Revised: September 1, 2008
Reviewed: 

Purpose

This policy outlines the policies and procedures to use to pay prior year bills (not accrued) after the prior year has closed.


Policy

Each agency is required to account for all payments made in a subsequent year that relate to the prior fiscal year. Those payments need to be reported to the Division of Finance so that Finance can log or identify all old year payments paid in the new year against the proper prior year line item.

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