Each department should be reviewing and analyzing its IPA revenue and expenses monthly.
The Centralized Billing team has been contacting specific departments with balances that have had no activity for over 12 months. Department business offices should be researching these now, prior to fiscal year-end, to determine whether there are any errors or how to handle a surplus.
If there is a deficit balance, it can be cleared with a journal entry. If there is a surplus balance, the circumstances surrounding how the surplus occurred will need to be investigated/reconciled. Please contact ysminvoicing@yale.edu for further guidance.
For IPAs, please review fund balances under YD000377 that have had no current year activity using the Account Balances Detail – Yale report. IPAs that are in a deficit position and are still within contract date (or 3-5 months after contract date) should not be cleared at year-end. The Centralized Billing team will bill quarterly in arrears; therefore, it is possible that invoice has not yet been created or paid.
The department business offices should also take this time to ensure that all IPA/JPA contracts and modifications have been sent to ysminvoicing@yale.edu. The VA's PO number does expire, and invoicing needs to be performed in a timely manner to ensure that the university receives the appropriate amount of revenue.
Additionally, if it is known that the IPA is being modified, please inform the Centralized Billing team so that the current billing can be suspended while the modified billing terms are being finalized. As always, if the IPA ends early, please let the Centralized Billing team know immediately, as this facilitates accurate billing for the final invoice.