Entities with fiscal year 2000 in 1999

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Y2K dates to keep an eye on to see how big this thing will be:

April 1: New York State and Canada

April 6: The United Kingdom

July 1: Forty-six U.S. states

October 1: The U.S. federal government

-- Paul Powell (PaulPowell@Hotmail.com), March 13, 1999


April 1: New York State and Canada and Japan Tman...

-- Tman (Tman@IBAgeek.com), March 13, 1999.


Fiscal year roll-over problems are real. But they're over-rated as a visible sign of how big Y2K will be. See this thread...


-- Kevin (mixesmusic@worldnet.att.net), March 13, 1999.

Billing problems could be a big problem such as loss of revenue and the additional cost of fixing the problem. May be months before it is straightened out, in the meantime how will the city pay it's bills and employees.....dominoe effect.

-- ET (ET@ET.com), March 13, 1999.

Here's something I posted on another thread recently about the fiscal year issue:

[begin quote from other thread]

Here's what PNG had to say about fiscal year roll-overs in an article he wrote:



Fiscal years have little to do with company or country operations. Producing products, providing services and distributing them are the elements that create commerce. Looking ahead in projections and deciding where and when you are going to post the results is keeping score...not producing, providing or distributing.


Jo Anne Slaven on the following thread said:



Companies don't always open up a new fiscal year right away. They often wait until all of the year-end entries are posted before they "roll over" to the new year. This could take 3 or 4 weeks. And accounting system problems aren't the type of thing that is immediately obvious to outsiders. I would imagine that most corporations could muddle along quite nicely for several months with a non-functional general ledger.


Also see the thread at this link...


...where I posted part of a Washington Post article on how the states dealt with a related problem in unemployment insurance systems:


13 States, District Face Y2K Problems

Unemployment Checks May be Slowed

By Stephen Barr

Washington Post Staff Writer

Wednesday, December 23, 1998; Page A03

Thirteen states and the District will have to put electronic bandages on their computers next month so they can pay new unemployment insurance claims into the year 2000, Clinton administration officials said yesterday.

The federal-state unemployment program provides one of the first large-scale examples of the problems caused by the "Y2K bug." Computer experts have warned that payments for billions of dollars in Medicaid, food stamps, child welfare and other federal-state benefits could be at risk because surveys have shown that states are moving slowly on the Y2K problem.

Many of the computer systems in the unemployment insurance program, which processes claims, makes payments to the jobless and collects taxes from employers, are more than 30 years old. The systems processed more than $20 billion in state unemployment benefits in fiscal 1998 and provide crucial data on economic trends.

Persons filing claims for jobless benefits are assigned a "benefit year," which means that -- starting Jan. 4, 1999 -- unemployment insurance systems will have to be able to process dates and calculations that extend into 2000. Y2K problems may occur when computers next month try to process a first-time claim with a benefit year that covers both 1999 and 2000, officials said.

Some states that have not solved their Y2K problems will use a simple temporary fix, such as ending all benefit years on Dec. 31, 1999, while other states will use different techniques that essentially trick the computers so they will perform accurate date calculations, officials said.

If the computers are still not ready to operate on Jan. 1, 2000, states then will rely on emergency backup plans, including the writing of benefit checks by hand, officials said.

John A. Koskinen, the president's adviser on Y2K issues, and Deputy Labor Secretary Kathryn Higgins yesterday stressed that the nation's unemployment insurance system would not suffer serious disruptions.

"A year out, we know where our problems are. . . . It's an enormous help to have that information," Higgins said.

Koskinen pointed to the contingency planning for jobless benefits as a clear sign that the government will be able to maintain important services and programs, even if computer systems encounter Y2K problems.


Labor Department officials listed Arizona, Connecticut, Delaware, the District, Hawaii, Illinois, Kansas, Louisiana, Massachusetts, Missouri, Montana, New Hampshire, New Mexico and Vermont as lagging on Y2K repairs. Puerto Rico and the Virgin Islands also are running behind schedule, the officials said.

Delaware, according to the Labor Department, will not have all computer systems converted until the last possible moment: Jan. 1, 2000. But state officials said the most critical systems have been fixed and suggested that even experts can disagree on how to assess Y2K readiness.

The District should have its unemployment system fixed by March 31, the Labor Department said.

Overall, the repair bill could run to $490 million for the unemployment insurance systems, according to preliminary estimates.



[end quote from other thread]

-- Kevin (mixesmusic@worldnet.att.net), March 13, 1999.

I believe PNG stated that April 1st starts fiscal year 1999 for Japan, not FY 2000.

-- Bingo1 (howe9@pop.shentel.net), March 13, 1999.

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