Year-End Closing of the Books FY 2016

Dates to Remember: Thursday, June 30 th Last day of FY16 Monday, July 11 th Period 12 closes at 5:00pm Monday, July 18 th Departmental user lockout at 5:00pm

Dates to Remember: UO Foundation  June 23 (Transfers to UO) 5:00pm deadline for Transfer Check Disbursement Requests (CDR’s).  July 7 (Direct payments to outside vendors) 5:00pm deadline for CDR’s. All CDR’s dated 6/30/16 and prior, and received at the Foundation by 7/7/16 will be expensed in FY16.

Key Points:  Fiscal periods 1-12 should each stand on their own. FP 14 is an accrual period.  Banner is the official system of record.  All funds, including grant and agency funds, must have transactions recorded in proper FY.  Departments with new leases or using loaned equipment should contact the BAO.  Each department is required to submit a detail and aging report of their non-SIS accounts receivable to the BAO. These reports must be reconciled to Banner as of period 14.

FY17 Beginning Balances  When period 14 is opened, FY16 period 12 ending balances become FY17 beginning balances (recorded in period 00) Document type YEOB, numbered GLRL17XX  Then, each entry posted to FY16 during period 14 has a mirror entry in FY17 period 00

Dating FIS Documents Documents entered into FIS for FY16 must have a June 1 – 30, 2016 transaction date. This includes, but is not limited to: Budget Changes Invoices Journal Vouchers Travel Reimbursements

Encumbrances  BAO will roll all open purchase orders and general encumbrances from FY16 to FY17.  All system generated payroll encumbrances will be automatically liquidated by the payroll office.  To keep encumbrances from rolling into FY17, cancel or liquidate them before the close of period 12, on July 11 th.

Expenditure Cut-Off Guidelines  Expenditures must be charged to the fiscal year in which goods are received or services are performed.  For goods and services received by June 30 for which vendor invoices have not been received, please fill out an Accounts Payable Report and forward to the BAO.

Departmental Deposits in Transit  Please record a departmental deposit in transit for payments you have received in June, but cannot deposit with the Cashiers Office by June 30, To record the deposit in transit by JV with a June 2016 date: DebitDept. IndexA0951 Cash-Department Deposit In Transit CreditDept. IndexRevenue, Unearned Revenue, Accounts Receivable, etc. To make the physical deposit with UO Cashiers using Banner form TWADEPO as soon as possible after June 30, 2016: DebitCASH, CHEK, or CARD depending on how the payment was received CreditDept. IndexA0951 Cash-Department Deposit In Transit

BAO Financial Services  Business Affairs  General Accounting, CAFAR, and Property Control – management-contacts management-contacts  Travel (6-3158) - office-contactshttp://ba.uoregon.edu/staff/travel- office-contacts  Accounts Payable (6-3143)  BAO Closing of the Books Website

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