Year-End 2014 Special Session Last Updated: May 12, 2014

Year End This session will: –Provide important information designed to educate departments on year end processes –Information is provided from the view point of the following critical business offices: Budgets Accounting Purchasing

Accounting – Deficit Fund Balances Review funds with deficit fund and cash balances (negative/credit) starting on June 1 of the fiscal year. All deficit balances should be cleared no later than June 20. –Fund deficit balance from another source –Move an expense that caused deficit balance to another fund This applies mainly to Trust funds, which are not state appropriated funds.

Accounting – Small Balances Funds with small balances and little activity may need to be closed Review your funds with small balances and inactivity. Determine if they need to be closed for the upcoming Fiscal Year. Funds with balances will require a journal entry to move balance to another fund. –Funds cannot be closed with a Fund Balance –Refer to General Accounting’s Year-End (Month-end June) calendars for specific JE cutoff dates. –Terminate funds via Banner Fund Change Request Form

Accounting – Change Funds Reminder letters will be mailed to departments with change funds. Change funds must be counted and verified by 11:00 am Friday, June 20. –Count verification form included in mailing –Must be signed by custodian Custodian information must always be up- to-date.

Accounting – Petty Cash Expenses must be recorded at year end. All money and expenditure documentation must be turned in to General Accounting before 11:00 am Friday, June 20. Department may request money for upcoming Fiscal year, issued July 1. Custodian information must always be up- to-date.

Accounting – IDI’s and JE’s All Interdepartmental Invoices to be paid from FY funds must be received in Accounting before 11:00 am Friday, June 20. Decentralized Feeds cut-off Friday, June 20. Journal Entries –MUST be received by 12:00 pm Wednesday, June 25.

Accounting – Check Requests Goal is to pay all expenses that occurred within current FY in that same FY. General funds –Subscriptions purchased at FY End will only be paid with General Funds if there is NOT currently an existing subscription –Certain registrations may not be paid if for the next FY

Accounting – Check Requests Deadline –10:45 am Friday, June 20 Check requests will be processed only if ALL approvals and required documentation are in order.

Accounting – External Billing All External Invoices for FY 2014 –Budget Authority must submit to billing (by using the SUBMIT button on the external invoice form) before 5:00pm on Thursday, June 26th. –This includes all invoices that are for services rendered through June 30, –Invoice description must reference date service was provided to ensure inclusion in correct fiscal year.

Accounting – Travel ALL travel in current Fiscal Year should be RECEIVED for payment by 5:00 pm Thursday, June 19. Purchasing Airfare from our travel Agencies concludes 5:00 pm Wednesday, June 18. Purchases made with the UNCW Visa Travel Card must be posted by Wednesday, June 18 th to be paid out of the FY budget.

Accounting – Contact Us Controller’s Website – Look for Year End Documentation for 2014 with specific contact information here: –Under Important Dates on the General Accounting Webpage. –Under Year End Deadlines on the Controller’s Office Webpage.

Budget Office – Negative Budget Lines For year end close, general funds and trust funds must be positive in total Salary lines must be positive Operating lines can be negative but must be positive in total

Budget Office – Budget Revisions SRCI budget revisions – flex’s –General funds only –Salaries, benefits, contracted services, between programs Budget Office revisions –Increase revenue in trust funds –Operating to salary (or salary to operating) in trust funds only On line budget revisions –No pennies –Don’t cross program codes –Use default org codes

Budget Office - Overrides Current year requisitions –Budgeted funds are required to move budget to cover requisitions Special circumstances require detailed explanation and Budget Officer approval –Unbudgeted funds, cash must have been deposited Future requisitions –Require request to Budget Office including: Requisition number Funding source amount

Budget Office – Time Limited Positions HR 3.30’s are required for all time limited positions that will continue into the new year –Due to Budget Office June 1 st –No more than 3 years General funds positions –SRCI flex –Time limited certification Trust funds –Include position funding in budget package

Budget Office – Budget Rolls General funds operating roll –Continuation or permanent budget –June 1 st Carry forward –2.5 % of University appropriation –Not always allowed by the governor

Budget Office – Budget Rolls (Cont.) Special funds (budgeted trust) –Departments build budgets Jan – May –Approved by Budget Director May – June Unbudgeted trusts –Ending cash balance is rolled to new year as budget entry –Mid to late July Position roll –Late June

Purchasing Year End

Purchasing - Receiving Receiving and invoices required for payment by June 20 th Receiving must be completed in uShop as soon as goods/services received Do not enter receiving if goods/services not received

Purchasing - Invoices All invoices must be sent to Accounts Payable for payment processing by 10:45 am on June 20 th May to Departments needing copies of invoices for files – make copy before forwarding to Accounts Payable

Purchasing - Encumbrances Purchasing Responsibilities –Expediting for delivery of as many PO’s as possible by June 20 th deadline –Reviewing and processing PO cancellation and liquidation requests –Processing current year PO’s using non- general funds for emergencies and research –Processing Future PO’s –Identifying PO’s with “0” balances for closure –Identifying PO’s with remaining balances for closure and liquidation

Purchasing - Encumbrances Departmental Responsibilities –Monitor for PO’s with open encumbrances Needs receiving Needs invoice Order Complete, need to close and liquidate  or Comment on PO to: –Reports To Use Banner –FGIENCD –FOIDOCH SSRS –Open Encumbrance Report – Financial Reports>Campus Reports>Reconcilliation Reports>Open Encumbrances

Purchasing – uShop Year End Saved Reports

Open the YEAR END folder To run the report – Click on the report Name Additional Filtering can be applied from the report screen

Purchasing - Encumbrances Standing Orders –Departments need to submit invoices prior to June 20 th to Accounts Payable –Purchasing will liquidate all orders with Delivery Date June 30 or prior before Year- End Roll –Purchasing will rollover Orders with Delivery Date after June 30 –Delivery Date based upon “time period” as specified on Standing Order Form

Purchasing – Future Requisitions Future Requisition –Special needs requiring early July delivery –Must be ordered prior to July 1 –Will be received after July 1 –Accounting Date in uShop needs to be changed to July 1, 2014 Will be processed on a case-by-case basis

Purchasing – Key Items Key Items for Year –End Procurements  Catalog items from Staples, GovConnection, CDWG, etc.  Avoid items tagged “Check for availability” or “Call for Availability” as they are usually limited in supply or out of stock  Software licenses (Adobe) and renewals;

Purchasing – Key Items Key Items for Year –End Procurements  Office, Teaching and Research Supplies  Dell and Apple iPads are currently available; order before May 24 th.  Apple computers continue to require longer lead times and may not be delivered before year-end.

Purchasing – Key Items Key Items for Year –End Procurements  Office Furniture -Contact Frieda Antrican for details: Order seating before May 25 th.  Task Chairs from Sit-on-It ( “Amplify”, “Torsa”, “Focus”)  Side/ Guest chairs from Sit-on –It (“Focus”, “Freelance”, “Swirl” and “Relay”)  KI “Impress Ultra” task chair as well as some tables  Lounge furniture from KI, depending on fabrics. Order by May 20 th.

Purchasing – Purchasing Card P-Card cycle ends June 9 th Recommended last day for use is June 1st For further information on Year-End: or