Year-End Closing of the Books FY 2018

Dates to Remember: Saturday, June 30th Last day of FY 18 Tuesday, July 10th Fiscal period (FP) 12 closes at 5:00pm Tuesday, July 17th Departmental user lockout at 5:00pm

Dates to Remember: UO Foundation June 21st (Transfers to UO) 5:00pm deadline for Transfer Check Disbursement Requests (CDR’s). July 5th (Direct payments to outside vendors) 5:00pm deadline for CDR’s. All CDR’s dated 6/30/18 and prior, and received at the Foundation by this date will be expensed in FY 18.

Key Points: FP’s 01-12 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 FP 14.

FY19 Beginning Balances When FP 14 is opened, FY 18 FP 12 ending balances become FY 19 beginning balances (recorded in period 00) Document type YEOB, numbered GLRL18XX Then, each entry posted to FY 18 during FP 14 has a mirror entry in FY 19 FP 00

Dating FIS Documents Documents entered into FIS for FY 18 must have a June 1 – 30, 2018 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 FY 18 to FY 19. All system generated payroll encumbrances will be automatically liquidated by the payroll office. To keep encumbrances from rolling into FY 19, cancel or liquidate them before the close of FP 12, on July 10th.

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. http://ba.uoregon.edu/sites/ba/files/forms/yearendap.pdf

Prepaid Expense Update Beginning January 1, 2018 Purchases of less than $5,000 will no longer be amortized over future fiscal years; they will be expensed in the current fiscal year Purchases of $5,000 or more will continue to be expensed across fiscal years

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 29, 2018. To record the deposit in transit by JV with a June 2018 date: Debit Dept. Index A0951 Cash-Department Deposit In Transit Credit Dept. Index Revenue, Unearned Revenue, Accounts Receivable, etc. To make the physical deposit with UO Cashiers using Banner form TWADEPO as soon as possible after June 30, 2018: Debit CASH, CHEK, or CARD depending on how the payment was received Credit Dept. Index A0951 Cash-Department Deposit In Transit

BAO Financial Services Business Affairs - https://ba.uoregon.edu/content/contacts General Accounting, CAFAR, and Property Control – https://ba.uoregon.edu/content/accounting-and- financial-management-contacts Travel (6-3158) - https://ba.uoregon.edu/content/travel- office-contacts Accounts Payable (6-3143) - https://ba.uoregon.edu/content/ap-invoice-payment BAO Closing of the Books Website https://ba.uoregon.edu/content/year-end-close

Questions?