Fiscal Year End
Training
2017
Agenda
•
•
•
•
•
•
Year End Close Tasks and Timelines
Prepaid and Accrual forms
Other Deadlines
Resources
UBS Contacts
Question & Answer
Year End Close Tasks
•
•
•
•
•
•
•
•
Ensure positive cash & fund balances
Record and pay claims
Purchasing Card
Cash receipts
Autobills
Property Management
Journal entries & Corrections
Other
Ensure positive cash & fund balances
•
Begin reviewing negative balances
VP, UBS,
5/31/17
Depts
•
•
•
•
•
•
•
•
•
Utility auto bill for May processed by
Requests for FY17 Foundation reimbursement
due to Foundation office
Cutoff for financial aid disbursements
Deadline - all balances positive
Final FY17 requests for Foundation
reimbursement due to Foundation office
Final review of cash balances
Final adjustments to cash balances
UBS
Feed June telephone bill
Outside Checking Accounts Reconciled
and provided to UBS
UBS
6/20/17
Facilities
6/16/17
6/23/17
6/20/17
Departments
Financial Aid
Departments
6/26/17
Departments
6/30/17
6/30/17
VP/Other
Departments,
7/10/17
7/11/17
ITC
Depts, Agencies,
Record and pay claims (BPAs)
•
Petty cash reimbursements due to UBS
6/19/17
Departments
•
Departments submit final FY17 BPA Claims
6/30/17
Departments
•
All POs in Banner 3pm
6/30/17
Procurement
•
Computer & Student Equip Fees Spent
6/30/17
Departments
•
AES, ES, FSTS submit final FY17 BPA Claims
FSTS
•
Transmit final FY17 claims to SABHRS
7/11/17
Systems
•
Final IDC run, Admin Fee, Final term pool, E-Scrap
7/11/17
OSP, UBS
•
Ag Revenue Fee
•
Run Procurement encumbrance roll and GL roll once payroll
has posted (Salary encumbrance roll 7/8/17)
7/11/17
7/05/17
7/11/17
AES, ES,
College of Ag
Systems
Purchasing Card
•
Verify 62886 p-card clearing account has a zero
Balance through May - submit or complete corrections
6/09/17
Departments
June Pcard Dates (May 23rd to June 21st)
• Last day to charge
• See charges through 6/21 in Banner
• Charges through 6/21 feed to Banner at 5:00
6/21/17 Accounting
6/23/17 Departments
6/26/17 Systems
June 13th Month Pcard Dates (June 22nd to June 30th)
• Last day to charge
• See 6/22-6/30 charges in Banner
• Charges (6/22-6/30) feed to Banner at 5:00
6/30/17 Accounting
7/03/17 Departments
7/06/17 Systems
•
Verify 62886 p-card clearing account has a zero
balance through June – submit or complete corrections
7/07/17 UBS, Departments
(Corrections received in UBS office or Completed by Department - be sure to change
JD1 date to 6/30/17 in order to get in FY17!)
Final Cash Receipts
•
Submit cash receipts by 11am
6/30/17 Departments
•
Credit card receipts by 10am
6/30/17 Departments
•
Cash receipts after 11am, accrue FY17
6/30/17 Accounting, Depts
•
Credit card receipts after 10am for 6/30
manual & virtual terminals, accrue FY17
7/01/17 Accounting, Depts
•
Commerce Manager, echeck, Webpay
EOD for 6/30 need to accrue
7/01/17 Accounting
Autobills and X-feeds
•
•
•
•
•
•
•
Autobills for outside vendors to date to UBS
6/21/17 Departments
(Example: Bookstore, Foundation)
UBS feeds outside vendor autobills to Banner
6/23/17 UBS, Systems
Final autobills for outside vendors due to UBS
7/03/17 Departments
UBS feeds outside vendor autobills to Banner (posts to FY18)
7/07/17 UBS,
Systems
Cat Card final redistribution
7/07/17 RLUFS
Feed final FY17 dept to dept autobills
(Change date to 6/30 to post to FY17)
Last day for departmental X-feeds
(Change date to 6/30 to post to FY17)
7/10/17
UBS, Systems
7/10/17
Departments
X-feed Schedule:
June 27 - June 30
July 1 - July 10
No Finance (dept to dept) or AR (off campus) x-feeds
Any Finance x-feed will post in FY17
Do not post FY18 x-feeds until July 26th or later
Property Management
•
Capital inventory verification
4/28/17
Depts, Prop Mgmt
•
Minor & sensitive inventory reports to UBS
4/28/17
Depts, Prop Mgmt
•
Donated asset response to UBS
6/16/17
Depts, Prop Mgmt
•
Capital Items (including ‘intent to fabricate’ items) for June and June 13th month
Pcard reports:
–
•
Please scan a copy all backup documentation as soon as you receive it to Tanya Arrington
for entry into the Fixed Asset system. These items will need to be entered for FYE prior to
completed pcard report submission to UBS.
PARR forms – think of new assets that were purchased this year – what happened to
the old one? You may need to submit a PARR form to remove the old one from
inventory (Example: copiers)
Journal Entries & Corrections
•
Correction memos due to UBS (transactions through May)
6/9/17
Depts, HR, OSP
(Corrections through June due to UBS 7/7/17)
•
Final warrant cancellations due to UBS for FY17
6/23/17
Depts, HR, OSP
•
Prepaids due to UBS
6/30/17
Departments
•
Accruals (Expense & Revenue) due to UBS
7/07/17
Departments
•
Submit unearned (deferred) revenue items
7/07/17
Accounting, Depts
•
JD1s, JG1s final in Banner (backdate to 6/30 for entry after 7/1!)
7/10/17
•
Compensated absences entry
Accounting, HR
•
Initiate IUJs to other agencies to UBS (DPHHS 7/6/17)
•
•
•
Answer IUJs on SABHRS (actual 7/24)
7/20/17
Accounting
Salary encumbrance roll
7/08/17
Budget, Systems
Procurement encumbrance roll and GL roll once payroll has posted
7/11/17
Systems
7/10/17
7/10/17
Depts, OSP
Depts, Acctg
*Please do not attach accrual or prepaid forms to a BPA or pcard report. Processing of these forms happens separately and
forms can get missed if attached to other paperwork.
Other Deadlines
•
•
•
•
•
•
MREDI Grant funding
Procurement
ITC
HR/Payroll
Costco
Leases
MREDI Grants
•
MREDI grant funds must be spent / contracted / ordered by June 30 th – No Exceptions
•
Accruals on MREDI grants follow accrual guidelines:
–
–
•
Summer tuition payments (first session) have been approved to be paid if recorded by
June 30th
–
–
–
•
Send a list of student names to Jenn Huber in Student Accounts asap!
OSP Fee Authorization Form must be routed and approved asap. Pink copy must be
received in Student Accounts – Attn: Jenn Huber by June 7th
Must be added to student’s account and charged to the grant by financial aid cutoff date
Summer salary payments must be in the July 11th payroll in order to be posted by June 30 th
–
–
•
Must be ordered or contracted prior to June 30th
Accrual form with supporting documentation (executed contract, invoice, etc) must be
approved by OSP and received in the UBS office no later than 7/7/17
Payroll corrections must be received in OSP and will only be processed until Noon on July
11th
Corrections or payment requests received in OSP after the deadline will be processed in
FY18
Contact your OSP Fiscal Manager to discuss:
MREDI Agriculture
MREDI Center for Mental Health Research
MREDI Energy
MREDI One Medicine
MREDI Optics
Carmen Fike, X1939
Julie Geyer, X6268
Traci Miyakawa, X7696
Sandy Sward, X5318
Dale Huls, X1980
Procurement
•
Requisitions exceeding $500,000 will need to go through the State, as MSU cannot spend over this
amount within its delegated authority. If you have something of this magnitude on the horizon, please
contact Laura Humberger at x4361, immediately.
•
Other requisitions (valued under $500,000) need to be turned in to Procurement Services according to
the following timetable to ensure adequate time for bids to be awarded:
–
–
–
•
Procurements that require the Request for Proposal process (criteria other than low cost): Due Immediately – contact
Procurement Services to discuss
Procurements that require the Invitation for Bid process (awarded to low cost alone): Friday, May 19th.
Procurements that do not require a competitive process (i.e. Sole Source, procurement exempt, etc.): Friday, June 9th.
Remember that although FY17 purchases will take priority, these deadlines only apply to procurements
that must use FY17 funding. FY17 funds may be used as long as the purchase order or contract is
executed prior to June 30th. If you have procurements with FY18 funding you can continue to submit as
normal.
Please indicate clearly on your purchase requisition the funding year, as this will help us ensure prompt
processing.
Use of competitive bids and all other State requirements must be followed even during year end.
UIT Purchasing Support
•
Orders placed by 6/9 should be received and autobilled by 6/30
•
Orders placed by 6/23 that are not received by June 30 will be accrued by UIT for the
department according to accrual guidelines
•
Orders placed after 6/23 (6/24-6/30) will be expenditures for FY18
•
UIT Purchasing support webpage:
http://www.montana.edu/uit/purchase/
HR / Payroll Information
• Summer salary tail info (6/11 payroll)
• Salary correction memos due
• Summer salary tail info
(June supplemental payroll)
• June Salaries to Finance
• Bring salary encumbrance to zero
• Final payroll correction JVs
• Feed payroll adjustment info
• OSP xfeed for benefit pool entries
6/08/17 HR
6/20/17 HR
6/26/17 HR
7/07/17 HR
7/08/17 Budget
7/11/17 HR
7/11/17 HR
7/11/17 OSP
Costco Purchases
•
Last day to charge at Costco for June
6/21/17
Departments
•
Documentation to UBS by noon
6/22/17
Departments
•
Purchases made after June 21st will be expensed in FY18
•
If you do make a large FY17 purchase at Costco after June 21st, please contact Tanya Arrington
X3345 and it may be accrued
Leases
• Please advise UBS if you have any leases of
land or equipment by 6/13/17
• Send a copy of the PO and/or lease agreement
to one of the following staff:
– Tanya X3345 for land leases and equipment leases under $5,000
– Loreen X1956 for copier leases and equipment leases over $5,000
• If you are unsure, please call Tanya X3345 to discuss
FY 2018 Begins
•
•
•
•
•
•
•
IDCs begin for FY18
7/12/17
OSP
Admin fees for FY18 begin calculating
7/12/17
UBS, Systems
Accept 2018 claims, begin processing
7/12/17
UBS
FY18 Budgets into Banner
7/17-7/19/17 Budget Office
FY18 begins for Accounting
7/26/17
UBS
Reverse all accruals & deferrals
7/26-7/28/17 Accounting
Record prepaids as expense
7/26-7/28/17 Accounting, Systems
Resources
Departmental Checklist / FYE Close Letter / Year End Forms
http://www.montana.edu/ubs/accounting/fiscalyearend.html
UBS Questions
[email protected]
994-3653
UBS Contact Info
Tanya Arrington
Christina Fournier
Andrea Gullickson
Lynne Hendrickson
Katie Matzinger
Cherry Whitehouse
X3345
X3653
X5727
X5739
X7508
X6411
Accounting
UBS Help, Prop Mgmt
Purchasing Card
Accounts Payable
Accounting, Director
Accounts Payable
Questions & Comments