This issue of the Financial Management Office Newsletter includes information about the following:
- October 2024 Fiscal Administrators Town Hall Meeting Presentation and Recording
- 2024 Wages-In-Kind (WIK) Processing Deadline
- Quarterly Interest Rate for Late Vendor Payments
- Schedule Update: Check Run Moved to November 27, 2024
- Resources
The Financial Management Office Newsletter is distributed monthly. Should you have any questions about this newsletter, contact Amy Kunz via email: amykunz@hawaii.edu.
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October 2024 Fiscal Administrators Town Hall Meeting Presentation and Recording
Target Audience: All
Thank you for attending the FA Town Hall on October 23, 2024. We appreciate your attendance and questions. For those that were not able to join live, or that want to reference the information, the PowerPoint presentation and webinar recording are available on the Fiscal Administrators webpage.
If you have any questions or concerns, or have something that you would like to include at a future FA Town Hall, please let Amy know at amykunz@hawaii.edu.
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2024 Wages-In-Kind (WIK) Processing Deadline
Target Audience: Fiscal Administrators
The Wages-In-Kind (WIK) processing deadline for Tax Year 2024 is November 29, 2024. All DVs turned into the Disbursing Office on or prior to that date will be processed for Tax Year 2024. Payments subject to this deadline include:
- Same Day Travel Per Diem – $20 (Object Code 4352)
- Mileage (Object Code 4152)
- Auto Allowance (Object Code 4192)
- Transportation Allowance (Object Code 4251 & 4252)
- Cash Awards (Object Code 7244 & 7245)
- Housing Allowance (Object Code 7248)
- Relocation Allowance (Object Code 4891 & 4892)
- Uniform Allowance (Object Code 7246)
- Mobile Allowance (Object Code 3803)
DV & PNFs received after the WIK deadline will be disapproved and need to be resubmitted in January 2025.
If there are any questions, please contact J.R. Kashiwamura at jkashiwa@hawaii.edu
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Quarterly Interest Rate for Late Vendor Payments
Target Audience: Fiscal Administrators and Fiscal Support Staff
Pursuant to Section 103-10 of the Hawai`i Revised Statutes, the interest rate for obligations related to goods delivered or services performed remaining unpaid after 30 days is equal to the prime rate for each calendar quarter plus two percent. The interest rate is adjusted quarterly using the prime rate as posted in the Wall Street Journal on the first business day of the month preceding the calendar quarter. Please refer to the Comptroller’s Memo for the 4th quarter interest rate and calculation.
Should there be any questions regarding this change, please call the Disbursing Office at (808) 956-5535.
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Schedule Update: Check Run Moved to November 27, 2024
Target Audience: Fiscal Administrators and Fiscal Support Staff
Pursuant to President Lassner’s Memorandum “Administrative Leave for University of Hawai`i Employees During the 2024 Holiday Season,” the Disbursing Office will be closed on Friday, November 29, 2024. The check run originally scheduled for this day will be moved to Wednesday, November 27, 2024. Please plan accordingly.
Should there be any questions regarding this change, please call the Disbursing Office at (808) 956-5535.