Fiscal Year-End Review Session Sponsored Projects Accounting

SPA Contact Information: Director, Post Award Administration Tina V. Hales Associate Director, Lourdes Alvarado Post Award Administration, Systems and Project Management Accounting Unit Manager Jodie Webb Financial Management and Cost Compliance Accounting Unit Manager Mark Kaczmarek Restricted Funds Cash Management

Year-End Considerations The Banner G# captures the complete financial status of an award so viewing at the index or fund level may not give you the complete financial status. Detail accessible in FRIGITD To view at fund level select ‘Fund’ To view by agency categories select ‘Sponsor Account Codes’

Year-End Considerations ELRs must be initiated by June 23 to allow for full approval by June 30. If ELRs are not completely approved by noon on the last day of close they will be erased and will need to be resubmitted with a FY18 date. Labor transfers should be done within 90 days

Year-End Considerations Departments should continuously review any accounts receivable balances older than 120 days and support SPA in collection efforts to avoid the write-off of receivables at year-end.

Year-End Considerations Direct Pay Requests for subcontracts (EQ #s) are not processed between 1st and final close. SPA will submit to Accounts Payable immediately after final close when encumbrances have rolled over. Budget mods for subcontracts (EQ #s) will not be processed between 1st and final close. SPA will process immediately after final close.

Year-End Considerations Gift Funds cannot have a deficit fund balance at FYE. Common YE items that can cause a deficit: Pcard purchases will post before 2nd close. ELRs will post by 1st close. Lag payroll will post after 2nd close.

Final Invoices at FYE State of New Mexico and a few other agencies have a quicker than normal turnaround time for final invoices. Be prepared to submit a Report of Final Expenses (RFE) to SPA to ensure that all allowable expenses are billed by the invoice due date. Without an RFE and backup documentation of pending charges, SPA will invoice the agency based on Banner amounts.

Report of Final Expenses The RFE is used by the departments to report final expenses on sponsored awards and should list all allowable expenses, even if they are not yet in Banner. SPA must receive the RFE with adequate time to review all expenses prior to the invoice deadline.

Report of Final Expenses The RFE is due to SPA halfway between the award end date and the invoice due date. If the final invoice is due July 30, the RFE is due to SPA by July 15. For final invoices due on or before the award end date, RFE is due to SPA 7 days before the invoice due date. If the final invoice is due June 30, the RFE is due to SPA by June 23.

Report of Final Expenses There are several Cognos reports available to help with your review. RA-Awards Financial Statement RA-Funds Financial Statement RA-Expiring Awards HR-LD-287B Labor Expense Detail

Report of Final Expenses

Report of Final Expenses #1 Fund Budget: List the total awarded budget for the fund. A separate RFE is required for each fund, including cost share funds. #2 Inception to Date Expenses: Must be as of the end of a CLOSED month. If RFE is completed prior to June FINAL close, you must use May final close figures.

Report of Final Expenses #3 List of Outstanding Expenses: Includes ALL expenses not in the ITD amount. ALL listed expenses require backup documentation. Expenses already posted to Banner only require a Banner screenshot as backup documentation. Expenses not in Banner require copies of the actual expense, i.e. DPR, RV, pcard receipt.

Report of Final Expenses Labor must be broken down by employee and pay period. Add a separate line item for calculated IDC. Calculate IDC only on expenses that generate IDC.

And finally… If you have any questions, CALL US! Email: spa@nmsu.edu Phone: 575-646-1675 Anderson Hall, Room E1200