00:07:06	Lisa Smith, Mich State:	agree Joe!
00:09:33	Ann Crowley:	We don't do this at Cornell
00:09:52	Susanne Gill (BVB):	They don't do it in bavaria
00:10:14	Lisa Smith, Mich State:	Mich State doesn't pay in future year; only occasionally in the previous FY
00:15:08	Ann Crowley:	If we have a multi year payment - we pay on the GL system on a prepaid object code and expense out each year as we go
00:15:26	Ann Crowley:	And process in FOLIO as it is expensed
00:16:02	Joe Reimers (EBSCO):	GAAP is GAAP, so everybody probably does this at some level
00:19:02	Owen Stephens:	Just checked with my local expert (my wife) and in her institution they no longer do multi-year payment upfront but insist on annual invoices because it was too complex to manage this across the finance dept and library finances (finance would pay the cost up front and then apportion across years locally)
00:20:16	Owen Stephens:	Replying to "Just checked with my..."

So that model almost certainly exists in the UK, but it maybe that libraries just try to avoid being in this situation as much as they possibly can
00:20:58	scolglaz:	Replying to "Just checked with my..."

I think we also try to avoid it, but sometimes the discount is just too good to pass up
00:21:10	Owen Stephens:	Reacted to "I think we also try ..." with 👍
00:21:17	Lisa Smith, Mich State:	Reacted to "I think we also try ..." with 👍
00:58:41	Owen Stephens:	I think there’s a question of whether you care enough to model the reality vs using the naive model of “treat it like a series of annual invoices”
01:00:14	Owen Stephens:	Since the invoice is paid then it’s a delayed disbursement on the folio funds