Fiscal Year-End 2012-12 Department Deadlines
The process of closing the books for fiscal year 2012 has begun. Key closing dates and important deadlines are outlined below. Please take special notice of the information contained in this document, and share it with your staff and others that you deem appropriate. If you have any questions or need further information, please do not hesitate to contact the Controller's Office at 7-3377.
Salary Adjustments and Cost Transfers
Departments should begin reviewing their budget statement reports, including payroll expenditures, operating expenditures and open commitments by accessing Banner Self Service, AnalyticsWare Business Intelligence tool or Cognos reports. Review of detail payroll information is available via e-print reports, Cognos Labor report or AnalyticsWare Labor Distribution reports. Access request forms are located on the Controller's Main page
All payroll reallocations or transfers prior to May 2012 are due to the Controller's Office no later than 12 pm on May 25th. May payroll reallocations or transfers are due to the Controller's Office no later than 12 pm on June 6th. Please send non-grant reallocation or transfer requests to Allison Baldwin and grant reallocation or transfer requests to the Grant Accountant assigned to your department.
Please remember that Students and Temporary employee PA forms are required for the new fiscal year. The current assignments will end on May 31st.
Non-salary cost transfers are due to the Controller's Office by 5 pm on June 20th. All grant cost transfers must follow Cost Transfer policy located on the Grants and Contracts website.
Purchase Orders, Invoices and Procurement Card
Purchases initiated in fiscal year 2012 will be applied to fiscal year 2012 budgets only to the extent that deliveries of goods and services have been received by May 31st. Deliveries and services received after May 31, 2012 will be charged to fiscal year 2013 budgets. Reminder that all purchase orders will roll forward to the fiscal year 2013. If the good has been received or the service render and the purchase order has a remaining balance, please contact Purchasing to close the purchase order.
Requisitioning for items to be delivered in fiscal year 2013 can begin June 1, 2012. If an order is necessary prior to that date, contact Purchasing for assistance.
Purchases that are not critical to the completion of fiscal year 2012 operations should be delayed. All fiscal year 2012 requisitions/purchase orders received, after May 14, 2012, will be reviewed and approved if the good or service is needed to complete a project or task in fiscal year 2012. All other requests will be delayed until fiscal year 2013.If a requisition/purchase order covers a service that is delivered both in fiscal year 2012 and fiscal year 2013 (for instance a software license) then the entire amount needs to be entirely charged to the appropriate expense account. Purchasing and General Accounting will reallocate the fiscal year 2013 portion to prepaid expense.
Invoices for fiscal year 2012 purchases must be received by Accounts Payable for processing no later than 12 pm on June 8th. If an invoice is not received by June 8th for any goods and/or services provided before May 31st, contact the Accounts Payable department by June 20th to accrue the expenditure to the fiscal year 2012 budget. Invoices for deposits on goods and/or services provided after May 31st, will be applied to fiscal year 2013 budgets.
Reminder that all invoices received before May 31st for goods or services render after May 31st will be placed into a prepaid account in fiscal year 2012 and expensed in fiscal year 2013. A prepaid account enables the university to pay the invoice but not apply the payment to an expense account until the new fiscal year begins.
Procurement card purchases may be made through May 31st, but must only be made for goods and services as allowed under the procurement card policy. Remember that charges made using procurement cards do not encumber funds and, if not tracked closely, can lead to overspent budgets.
All checks received in May 2012 are to be deposited no later than May 31st. Checks received after May 31st for a fiscal year 2012 payment that was not billed in fiscal year 2012 should be sent to the Controller's Office no later than June 20th. The payment will be applied in fiscal year 2012. All other payments will be applied in fiscal year 2013.
Important Dates Summary
|P-Card Charges||May 31, 2012|
|Payroll reallocation or transfers|
|- Prior to May 2012||May 25, 2012 - 12:00pm|
|- May 2012||June 6, 2012 - 12:00pm|
|- Payment of Invoices||June 8, 2012 - 12:00pm|
|- Accrual of Invoices||June 20, 2012 - 5:00pm|
|Non-Salary Cost Transfers||June 20, 2012 - 5:00pm|
|Checks for Payments|
|- Deposit in 2012||May 31, 2012 - 4:00pm|
|- Accrued in 2012||June 20, 2012 - 5:00pm|
Preliminary May 2012 reports will be available June 15, 2012.