Coming Soon: BPS Opening Early
Dear Finance Colleagues,
Thank you all for your help in putting together COVID Impact reports for the month of April (for a second time!). Your thoughtful consideration of this reporting is greatly appreciated by both the Finance Office and Financial Management Services, especially since we know you have a lot on your plates right now.
BPS Opening Early
We have heard your desire to open BPS earlier than usual for planning purposes. We are improvising right now on the process of opening BPS with the goal of opening by late May or beginning of June, with a few minor caveats:
- HSDO Allocations: As you heard from Jim on Wednesday of last week, we still won’t know final HSDO allocations until end of June at the earliest. So your HSDO allocation will be blank until we receive the H&S allocation from the Provost.
- Endowment Payout: Projections have been calculated at a 15% decline in market value and payout, and those amounts will be posted in BPS (as they have already been posted in the Repository) It is possible that the projected endowment payout may change when we hear more after the June Board of Trustees meeting.
- Grad Aid Information: We are hoping to load data from the GFPS system in BPS the first week of June.
- Salary Information: Since there is not a salary program in FY21, staff salary and lecturer salary will be loaded at the current rate. Note: Bargaining unit salaries will follow contractual agreements.
As part of this process, we will be shutting down access to BPS in order to roll the system forward to FY21 (including loading the relevant actuals for this year and the past two) on Wednesday, May 13 after 5 pm. If you need any reports from BPS to have for your records, you should either download them now or plan to get them from the Repository after May 13.
We are also in the process of putting together trainings for both new and seasoned BPS users, as well as a separate training on how you might use BPS with the incomplete data mentioned above to get a jump start on planning for next year as well as preparing for year-end close this year. Stay tuned for more details about those trainings in the coming week(s).
Again, thank you for all your efforts during this difficult time, and for your patience as we try to get the tool ready for early use soon.
Associate Director of Finance
The School of Humanities and Sciences