Year-End Guide

Cutoff Date Procedure with Contact Person Extension
March 28 Friday CAPITAL EQUIPMENT REQUISITIONS submitted to Procurement (1) Procurement (94231)
April 7 Monday QUESTIONS OR CORRECTIONS submitted to Controller's Office concerning Accounting transactions posted to your Index(es) for the period 6/1/13 through 3/31/14 Controller's Office (2)
April 30 Wednesday
OPERATING EXPENDITURES REQUISITIONS submitted to Procurement Procurement (94231)
May 1 Thursday DEPARTMENTS may begin processing 2014/2015 requisitions and blanket orders (3) Procurement (94231)
May 5 Monday QUESTIONS OR CORRECTIONS submitted to Controller's Office concerning Accounting transactions posted to your Index(es) for the period 4/1/14 through 4/30/14
Controller's Office (2)
May 23 Friday DEPARTMENTAL PETTY CASH REIMBURSED, CASH DEPOSITS, and CERTAIN EXPENSE REPORTS (see note 8) submitted to Bursar's Office Marianne Holt (94497)
  OFFICE BASICS orders are to be submitted on-line   John Durham (97164)
  VU PROCUREMENT CARD orders placed (5) Wendy Kinsey (94245)
  VALIDATE COMMITMENTS with a transaction date prior to 3/1/14 and an amount less than $500 or they will be deleted (6)  Lisa Mazzoni(94231)
June 2 Monday INTERDEPARTMENTAL CHARGES submitted to Controller's Office  Tina Andrien (94249)
June 4 noon Wednesday INVOICES, REQUESTS FOR PAYMENTS, TRAVEL EXPENSES, and CERTAIN EXPENSE REPORTS (see note 8) submitted to Procurement (7) Claudia Cashion-Boyle (7289)
  ON-LINE RECEIVING posted or SIGNED RECEIVING DOCUMENTS submitted to Procurement Department for items over $10,000
 
  Resolving deficit balances to restricted funds Controller Office (2)
June 6 Friday QUESTIONS OR CORRECTIONS submitted to Controller's Office concerning Accounting transactions posted to your index(es) for the period 5/1/14 through 5/31/14 Controller's Office (2)

REVIEW OF TRANSACTIONS CHARGED AGAINST YOUR BUDGET SHOULD BE DONE ROUTINELY AND DISCREPANCIES REPORTED IMMEDIATELY.

  1. With regard to capital purchases, in order to be charged to fiscal year 2014, items must be received and invoiced by 31 May 2014. Otherwise these expenditures will be charged to FY 2015.
  2. Controller's Office: Tina Andrien (94249), Tiffany Tulaney (93043), RaMonda Crosby (94242), Joanne Dragone (96848).
  3. IMPORTANT: All Requisitions should now be processed using Mercury Commerce.  In order to properly charge the FY2015 Budget for orders placed during the Month of May, 2014, you will need to change the Fiscal Year Date in Mercury Commerce to June 1, 2014.  For all new year orders, please type the following wording in the External Notes portion of the Requisition "FY2015 Order, these orders must be delivered and invoiced after June 1, 2014".  Additional instructions regarding this can be found on our web site at Year End requisition processing.
  4. If for any reason Office Basics is not able to ship your item(s) by 31 May, the charge will be incurred in June, not May.
  5. Items ordered in May but not shipped until June will usually be charged to your credit card when the item is actually shipped. These will not be charged to the 2014 fiscal year. Also, because some vendors do not put through charges on a daily basis, some May sales may not be processed until June. Neither the bank nor the University has any control over the vendors' schedule. Please remember that all procurement card charges are available for viewing on the Works web site within a day after they are processed by the vendor. Any charges processed by May 31, 2014 will be charged to the 2014 fiscal year budget.
  6. Open Commitments - It is critical to validate all existing commitments and notify Lisa Mazzoni in Procurement if commitments should be deleted for any reason shown below:
    • order was received in full or completely cancelled
    • part of the order was filled; the remainder was cancelled
    • invoice was processed for payment by department using a Request for Payment
    To view your current encumbrances in the Banner Finance System from the Organizational Budget Status Form (FWIBDST), simply click on the second option in the Options drop-down menu, "Organization Encumbrances."
  7. To facilitate year-end processing, the Procurement Department would like to receive as many old-year invoices as possible by this cut-off date. Please be aware, however, that invoices that relate to old-year expenses (invoice dated May or work performed/goods received by 31 May) that are received after the cut-off will still be charged to the old year. This practice is in keeping with generally accepted accounting principles and is subject to the review of our outside auditors.
  8. Expense reports should be taken to the Bursar's Office (May 23 deadline) under any of the following circumstances:
    1. If you received an advance and your actual expenses are less than the advance, you should submit your expense report with cash or check for the amount owed the University. -or-
    2. If you received an advance and your actual expenses exceed the advance by no more than $100, you can submit your expense report to the Bursar's Office and receive the balance of your expenses in cash. -or-
    3. If you did not receive an advance, and your expenses do not exceed $100, you can submit your expense report to the Bursar's Office and receive the amount of your expenses in cash.
    Expense reports should be submitted to Procurement (June 4, noon deadline) under any of the following circumstances:
    1. If you received an advance, and your actual expenses equal the advance. -or-
    2. If you received an advance and your actual expenses exceed the advance amount by no more than $100 but you prefer not to be paid in cash. Procurement will pay you the balance of your expenses by check (or direct deposit). -or-
    3. If you received an advance and your actual expenses exceed the advance amount by more than $100. Procurement will pay you the balance of your expenses by check (or direct deposit). -or-
    4. If you received an advance, your actual expenses exceed the advance amount (regardless of the amount), and you missed the Bursar's May 23 deadline. Procurement will pay you the balance of your expenses by check (or direct deposit). -or-
    5. If you did not receive an advance and your actual expenses do not exceed $100 but you prefer not to be paid in cash. Procurement will pay you the amount of your expenses by check (or direct deposit). -or-
    6. If you did not receive an advance and your actual expenses exceed $100. Procurement will pay you the balance of your expenses by check (or direct deposit). -or-
    7. If you did not receive an advance and you missed the Bursar's May 23 deadline. Procurement will pay you the balance of your expenses by check (or direct deposit).