FINANCE TRAINING YEAR END PROCEDURES

DEADLINES!!!!! July 31 – IT request for computers July 31 – IT request for computers August 7 – PO’s for computers August 7 – PO’s for computers September 15 – last day for regular PO’s September 15 – last day for regular PO’s September 18 – last day for print shop, postage, telephone September 18 – last day for print shop, postage, telephone September 30 – everything else September 30 – everything else

SEPTEMBER 30TH Last day to make budget changes Last day to make budget changes Cash receipts in by 2:00 pm Cash receipts in by 2:00 pm Purchase paperwork by Noon Purchase paperwork by Noon Completed travel by Noon Completed travel by Noon PO’s ≥ $25.01 will roll to FY 2010 PO’s ≥ $25.01 will roll to FY 2010

September 30th Bye-bye PO’s ≤ $25.00! Bye-bye PO’s ≤ $25.00! Bye-bye encumbrances! Bye-bye encumbrances! Bye-bye unprocessed req’s! Bye-bye unprocessed req’s! Bye-bye Self Service! Bye-bye Self Service!

The Matching Principle Accounting rule! Accounting rule! Expense is recorded in the year goods are received Expense is recorded in the year goods are received Accruals = expense before cash Accruals = expense before cash Prepays = cash before expense Prepays = cash before expense

“ACCRUAL”??? FY 2009 BUDGET FY 2009 BUDGET Accrual $100 _________________ Total FY 2009 $100 FY 2010 BUDGET FY 2010 BUDGET Reverse (100) Payment 100 _________________ Total FY 2010 $ 0

Items Received – Not Invoiced ACCRUAL Send signed receiving copy to AP Send signed receiving copy to AP “FY09 Accrual” in transaction history “FY09 Accrual” in transaction history Reversed in October Reversed in October Paid when invoice is received Paid when invoice is received Only effect on FY10 budget is if invoice > PO Only effect on FY10 budget is if invoice > PO

Prepays FY 2009 Budget FY 2009 Budget DV/PO $ Prepay (100) _________________ FY 2009 Total $ 0 FY 2010 Budget FY 2010 Budget – Prepay $100 _________________ FY 2010 Total $100

Item not received – Paid for Conference registrations Conference registrations Prepaid hotel reservations Prepaid hotel reservations Other travel Other travel

Current FY2009 Purchases Through Sept. 15 th – normal Through Sept. 15 th – normal After Sept. 15 th – only “Non- Routine” purchases After Sept. 15 th – only “Non- Routine” purchases Must be approved by Mr. Carlson Must be approved by Mr. Carlson

FY 2010 Purchases Through Sept. 15 th – enter req in Banner and change transaction date to Oct. 1, 2009 Through Sept. 15 th – enter req in Banner and change transaction date to Oct. 1, 2009 After Sept. 15 th – After Sept. 15 th – Complete paper req form Complete paper req form Budget manager must sign Budget manager must sign Forward to Purchasing Forward to Purchasing

Paper Requisition Form Show FY10 Purchase on top Show FY10 Purchase on top Must be completely filled out: Must be completely filled out: Ship to – know what yours is Ship to – know what yours is Vendor # - use FTMVEND Vendor # - use FTMVEND Complete FOAP Complete FOAP Supporting documents Supporting documents

Other Issues Meal Requests – need to be in Purchasing 1 week prior to event Meal Requests – need to be in Purchasing 1 week prior to event Approvals – approval queues should be empty Approvals – approval queues should be empty Traveling on Sept. 30 th ? – with estimated expenditures for ACCRUAL! Traveling on Sept. 30 th ? – with estimated expenditures for ACCRUAL! Encumbrance Queries – DO IT! Encumbrance Queries – DO IT! Budget transfer secret - Budget transfer secret -

Payrolls Monthly – run Sept. 29 th, posted in FY 2009 Monthly – run Sept. 29 th, posted in FY 2009 Biweekly – run Oct. 2 nd, September hours posted in FY 2009 Biweekly – run Oct. 2 nd, September hours posted in FY 2009 Student – run Oct. 13 th, September hours posted in FY 2009 Student – run Oct. 13 th, September hours posted in FY 2009

???QUESTIONS???