Year-End Guide

Cutoff Date Procedure with Contact Person Extension
March 31 Thursday CAPITAL EQUIPMENT REQUISITIONS submitted to Procurement (1) Procurement (94231)
April 8 Friday QUESTIONS OR CORRECTIONS submitted to Controller's Office concerning Accounting transactions posted to your Index(es) for the period 6/1/15 through 3/31/16 Controller's Office (2)
April 29 Friday
OPERATING EXPENDITURES REQUISITIONS submitted to Procurement Procurement (94231)
May 2 Friday    DEPARTMENTS may begin processing 2016/2017 requisitions in NOVAbuy (Mercury Commerce) (3) Procurement (94231)
May 6 Friday    QUESTIONS OR CORRECTIONS submitted to Controller's Office concerning Accounting transactions posted to your Index(es) for the period 4/1/16 through 4/30/16 Controller's Office (2)
May 20 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 (4) John Durham (97164)
  VU PROCUREMENT CARD orders placed (5) Wendy Kinsey (94245)
  VALIDATE COMMITMENTS with a transaction date prior to 3/1/16 and an amount less than $500 or they will be deleted (6)  Lisa Mazzoni(94231)
May 23 Monday DEPARTMENTS can begin to process invoices for the fiscal year 2017 (7) Wendy Kinsey (4245)
June 1 Wednesday    
INTERDEPARTMENTAL CHARGES submitted to Controller's Office  Tina Andrien (94249)
June 3  noon  Friday    ALL INVOICES, REQUESTS FOR PAYMENTS, TRAVEL EXPENSES, and CERTAIN EXPENSE REPORTS (see note 9) SUBMITTED to the PROCUREMENT OFFICE EMAIL for NOVApay processing Claudia Cashion-Boyle (7289)
  Resolving deficit balances to restricted funds Controller Office (2)
June 7 Tuesday QUESTIONS OR CORRECTIONS submitted to Controller's Office concerning Accounting transactions posted to your index(es) for the period 5/1/16 through 5/31/16 Controller's Office (2)
  All Old Year Invoices must be fully approved for fiscal 16 in NOVApay Wendy Kinsey (4245)

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 2016, items must be received and invoiced by 31 May 2016. Otherwise these expenditures will be charged to FY 2017.
  2. Controller's Office: Tina Andrien (94249), Tiffany Neberman (93043), RaMonda Crosby (94242), Joanne Dragone (96848).
  3. IMPORTANT: All Requisitions are processed using Mercury Commerce.  In order to properly charge the FY2017 Budget for orders placed during the Month of May, 2016, you will need to change the Fiscal Year Date in Mercury Commerce to June 1, 2016.  For all new year orders, please type the following wording in the External Notes portion of the Requisition "FY2017 Order, these orders must be delivered and invoiced after June 1, 2016".
  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 on your procurement cards are not charged to your credit card until the items are actually shipped.  Neither Bank of America nor the University has any control over the vendors shipping or credit card processing schedule.

    With this in mind we suggest that you do not purchase items for the 2015/2016 fiscal year after May 20, 2016, as they may not be invoiced prior to May 31.

    Please note the following deadlines:

    -    All charges prior to May 31 MUST be submitted by
         June 3th.
    -    All charges prior to May 31 Must be approved by
         June 7th.
    -    The REPORT DATE on the report header MUST be
         changed to 05/31/2016 - this report MUST only
         include charges PRIOR to May 31.

    Please be aware that if you do not make these deadlines Procurement will push the charges through to your budget.  Accounting will not do journal entries to move to a different budget line.

  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. In order for invoices to be charged to Fiscal year 17 the New FY Invoice box under the Invoice Detail section in Concur MUST be selected.  Please note these invoice will not be processed until June 10 and payment will be processed on or after June 13.

  8. To facilitate year-end processing, all fiscal 16 invoices must be received into the procurement e-mail (procurement@villanova.edu) by noon on June 3rd.  This includes invoices from the vendor.

    NOTE Procurement has the final discretion as to which fiscal year item should be charges based on invoice and receiving dates.  Invoices dated 5/31 and prior will be charged to fiscal 16 and invoices dated 6/1 will be charged to the fiscal 17.

  9. Expense reports should be taken to the Bursar's Office (May 22 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.