Nov. 18, 1999
Vol. 19 No. 5

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    Payroll Y2K compliant since May

    The University has been processing payrolls on a Year 2000 compliant system since last May, according to William Hogan Jr., Comptroller.

    “I do not foresee any problems that would prevent us from processing future payrolls or electronically transmitting payment information to financial institutions on time,” said Hogan.

    The payroll direct-deposit electronic transmittals for the last two December payrolls will occur in advance of Thursday, Dec. 30. Therefore, payroll funds are expected to be available to employees on the regularly scheduled payday of Thursday, Dec. 30. Also, the first biweekly payroll in January will not occur until the second week of January, which will allow sufficient time for the Comptroller’s Office to ensure payroll direct-deposit funds and printed checks are available on the regularly scheduled payday of Friday, Jan. 14.

    Although the Comptroller’s Office is confident that December and January payrolls will be processed on schedule, it cannot guarantee that employees’ individual financial institutions will be Year 2000 compliant.

    “I recommend that you contact your financial institution if you have any concerns about their ability to process transactions in the new year,” said Hogan.

    Any questions or concerns regarding the processing of December or January payrolls may be directed to Agnes Tordai at (773) 702-1945, a-tordai@uchicago.edu, or Robert Smentek at (773) 702-1948, r-smentek@uchicago.edu.