Retroactive Payroll Limitation Date to Change July 1 - 06/24/10
The Payroll Department has announced an update to the delimitation of payroll transactions. Effective July 1, 2010, the new “retro lock date” will be June 30, 2009.
Some situations, such as PAR corrections and audit findings or unallowable charges on a grant prior to the cutoff, will continue to be treated as exceptions as deemed necessary.
The schedule for the continuing roll-out delimiting retroactivity is:
-- As of July 1, 2010, no more retroactivity prior to June 30, 2009
-- As of Jan. 31, 2011, no more retroactivity prior to June 30, 2010
After Jan. 31, 2011, the new standard practice will be to close prior fiscal year payroll activity on the following Jan. 31.
For more information about the retroactive payroll policy, please contact the Payroll Department at email@example.com.