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Yale Fleet billing changes
October 29, 2018
Yale Fleet Management (YFM) is changing its billing frequency.
Effective November 1, 2018, YFM will bill the remaining FY19 costs associated with each department’s fleet. These costs are based on FY18 actuals.
In June 2019, YFM will review all departmental costs and will “true-up” to actuals prior to close of the fiscal year. YFM will also complete a review of costs during Q2 and will notify all departments that are tracking beyond a 10% variance for forecasting purposes.
Starting in FY20, the estimated full year billing will occur in July with the same process above consisting of a Q2 forecast review greater than 10%, as well as the “true-up” to actuals prior to close of the fiscal year. Billing will be based on the previous year’s actuals increased by 1.5% and will include:
- Parking tickets, tolls and, Park Mobile
Billing will be based on the previous year’s actuals increased by 1.5%. Included in the amount will be:
- Maintenance (Work Order)
- Parking Tickets, Tolls, and Park Mobile
Expenses for Telematics (GPS Insight) and leases will be billed separately in July. These are set costs for each department.
The quarterly review of actuals will be continued by Fleet Management in each subsequent Q2, to review tracking against billed amounts. If any department is tracking greater than 10% over annual billing, they will be notified each January.
The journal entry will be called “FYxx Annual Estimated Fleet Billing.” The year-end, true-up journal entry will be named “FYxx Annual ‘true up to actual’ Fleet Billing.”
There will be three (3) separate lines per vehicle and the Spend and Ledger as follows:
- Vehicle maintenance - 81039.SC260
- Fuel - 81039.SC171
- Emissions, parking tickets, tolls and Park Mobile - 81041.SC266
For the remainder of FY19, the report will contain a sperate tab for each Ledger / Spend type. The journal entry will be called “FY19 Aug – June Estimated Fleet Billing.” The year-end, true-up journal entry will be called “FY19 Annual true up to actual Fleet Billing.”
The reason for this change, has been to simplify billing and to reduce the amount of data entry processing.
Please contact Fleet Management with any questions at email@example.com.