9/24/2023 0 Comments Ppsspp controlsDevelopment of PSPĪ PSP method is associated with each PO and distributes the spending from the PO across quarters in accordance with business rules incorporated into the PSP method. In the future, PSP usage is expected to expand to include other types of agency spending in the PSP. PSP ScopeĬurrently, POs serve as the “planned expenditure” component of the PSPs limiting planned spending to non-personal service and a small population of contracted local assistance payments. As such, the planned cash impact of a procurement must be validated against the KK Financial Plan (refer to Budget Bulletin B-1216) through a successful budget check prior to a PO being eligible for dispatch to the vendor. In the new environment, spending patterns associated with purchases made pursuant to a contract or stand-alone purchase order will be taken into consideration to ensure budget adherence. Utilization of PSPs offers a more comprehensive budgeting view. The PSP tool offers better fiscal control by requiring agencies to manage cash impacts as part of the procurement cycle thereby preventing obligations with cash impacts that do not align with the cash plan. The PSP enhances the ability to monitor and control the future cash impacts of procurements, which reduces the State's exposure to significant financial plan and liquidity risk associated with moving to full segregation. The PSP provides information on the projected cash impact of purchases at the time of obligation and provides visibility to planned agency spending by quarter for the fiscal year and the carry-out period (multi-year for capital projects spending). PSP is a budgeting tool that was developed to enhance controls over spending in SFS. The purpose of this Bulletin is to provide an overview of the Payment Schedule Projection (PSP) tool. SUBJECT: Statewide Financial System – Managing Future Cash Impacts of Procurements through the Payment Schedule Projection (PSP) Statewide Financial System – Managing Future Cash Impacts of Procurements through the Payment Schedule Projection (PSP) BPRM Information Table (layout) Effective Date: September 8, 2017 New York State Voluntary Defined Contribution Plan.Not-For-Profit Contracting Advisory Committee.Personal Income Tax Bonds & Sales Tax Revenue Bonds.Annual Information Statement & Financial Disclosure.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |