1. Year-End Closing of the Books FY 2016

2. Overview of Closing Why?  GAAP – Generally Accepted Accounting Principles  End of the business cycle: State sessions end in June UO activity begins with summer session (excluding Law)  Federal (GASB) & State requirements UO mandated deadlines in order to meet required State deadlines  Snapshot in time YTD activity (FWIBUDG) and year-end balances (FGITBAL) are used to monitor, project, budget, evaluate performance, perform system audits, analyze anomalies, audit, compare and contrast with other years/funds/institutions etc…

3. Why?  Annual reporting – internal & external Rolled into State of Oregon financial statements Used by stakeholders such as general public, federal agencies, HECC, federal F&A rate setters, accrediting agencies, NCAA, creditors and bond services, etc…  Auditors – internal & external Test for accuracy, consistency, completeness, cutoff & reliability of systems including our policies & procedures Help us establish best practices Includes: UO Internal Audit, DHHS, Naval Research, NCAA, Moss Adams (financial statement & A-133), Secretary of State, etc… Overview of Closing

4. What? Recording activity that takes place between: July 1, 2015 and June 30, 2016  Transactions must be recorded in the fiscal year that the event takes place, regardless of when budget or cash is available  Includes accruals posted by July 18, 2016  Applies to all funds in FIS regardless of the source Overview of Closing

5. What?  Close fiscal period 12 and open fiscal period 14 Fiscal period 12:  Record June and remaining FY16 activity Fiscal period 14:  Review and post necessary corrections/accruals  Departments have first week  BAO/BRP/SPS have additional time  CAFAR team extracts data and populates reporting system  Close fiscal period 14 (FY16)  BAO collects all FY16 transactions through the date financial statements are issued in November to report subsequent events Overview of Closing

6. Balance Sheet Account Codes (FGITBAL – General Ledger) A = Assets B = Liabilities C = Control Accounts (Income Statement Totals) D = Fund Balance E = Fund Additions F = Fund Deletions  When FP12 is closed and FP14 is opened, actual income/expense account balances from FY16 FP12 are closed into FY17 fund balance.

7. Income Statement/Balance Sheet FWIBUDGFGITBAL Income StatementBalance Sheet Revenue0XXXXC0010 Labor1XXXXC2010 General Expense 2XXXX-8XXXXC1010 Transfers9XXXXC5010 Fund BalD0010

10. FY17 Beginning Balances  Before period 14 is opened, FY17 balances only include FY17 transactions

11. 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 GLRL16XX  Then, each entry posted to FY16 during period 14 has a mirror entry in FY17 period 00

13. Subsidiary Ledgers  Provide a greater amount of detailed information  FIS Examples – Student A/R, Grants Billing Module, Fixed Asset System, Accounts Payable  Complimentary (shadow) systems are often used by departments as subsidiary ledgers (examples – QuickBooks, Excel, Access)  Subsidiary ledgers must be reconciled to Banner FIS  The FIS general ledger is the official source of financial information for the UO

14. Subsidiary Ledgers General ledger account codes require supporting detail schedules reconciled to Banner FIS. Commonly used accounts include: Account CodeAccount Code TitleAccount Code Account Code Title A3103Misc Accounts ReceivableB0190Received Items Payable A3106Sundry ReceivableB5120Prepaid Tuition & Fees A3702AR from Affiliated FoundationB5802Unearned Revenue A4002Organized Storeroom InventoriesB5817Unredeemed Gift Cards/Certificates A5019Prepaid Services & SuppliesB5801Undistributed Revenue A5020Prepaid Travel A5021Prepaid Subscriptions/Memberships A5022Prepaid Capital Assets A5023Prepaid Software Expenditures A5030Prepaid Miscellaneous Expense

15. Non-SIS Accounts Receivable  Each department must submit a detail and aging report of their non-SIS accounts by July 19th  These reports must be reconciled to Banner as of period 14 (generally use FGITBAL)  Includes all receivables from entities that are external to UO

16. Non-SIS Accounts Receivable Account CodeAccount Code Title A3101Misc Advances Receivable-Non SIS A3103Misc A/R A3106Sundry Receivable A3109NIBL-Non SIS A3110Travel Advance Receivable – Non-SIS A3130Restoration Fund Receivable A3131Catering Accounts Receivable A3132Setup/Tech Accounts Receivable A3133Child Care Accounts Receivable A3134USDA Accounts Receivable A3135Season Ticket Accounts Receivable A3702AR from Affiliated Foundation

17. Non-SIS Accounts Receivable University of Oregon Non-Student Accounts Receivable Aging As of June 30, 2016 Department: Fund: Acct Code: Prepared by: Approved by: Date Submitted: DueDescription ofCurrent Year1-2 Years2-3 Years3-4 Years4-5 Years5 Years or Total* FromChargeFY16FY15FY14FY13FY12 Older 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total0000000 * Totals must reconcile to the General Ledger by fund and account Banner FGITBAL Balance: 000000 List indexes associated with this reconciliation:

19. Cut-Off Guidelines & Accruals  According to Generally Accepted Accounting Principles (GAAP), accrual accounting requires:  Expenditures to be recorded in the fiscal year and period in which the goods or services are received, regardless of when payment is made.  Revenue to be recorded in the fiscal year and period in which the goods or services are provided, regardless of when payment is received.  Accounts Receivable  Unearned Revenue  Payables  Prepaid Expense

20. Unearned and Undistributed Revenue Accruals Unearned Revenue - Payments received for goods or services which have not yet been provided. Revenue applicable to future fiscal years that is received prior to June 30, 2016 should be coded to unearned revenue account code (B5802). Post a reversing journal voucher with a transaction date in the future fiscal year and period that the goods or services will be provided. This journal voucher may be processed at the same time, if the future period is open. Undistributed Revenue - Revenue earned for goods or services and not yet distributed. Undistributed revenue (B5801) should be cleared to zero by year-end close.

21. Unearned Revenue Accruals To deposit payment through TWADEPO when it is received: Debit (CASH, CHEK, CARD, or BANK depending how revenue was received) Credit (MISC)Department Index Unearned Revenue Account Code (B5XXX) To remove the unearned revenue and recognize revenue in the future year: Debit Department Index Unearned Revenue Account Code (B5XXX) Credit Department Index Revenue Account Code

22. Unearned & Undistributed Revenue Account Codes Account CodeAccount Code Title Unearned Revenue B5120Prepaid Tuition & Fees B5802Unearned Revenue B5816Athletics Prepaid Revenue B5817Unredeemed Gift Cards/Certificates Undistributed Revenue B5801Undistributed Revenue

23. Payable Accruals  For goods or services received by June 30 th for which vendor invoices have not been received as of July 18 th, fill out an AP Report and forward it to BAO Financial Services along with backup.  http://ba.uoregon.edu/sites/ba/files/forms/yearendap.pdf http://ba.uoregon.edu/sites/ba/files/forms/yearendap.pdf

24. Payable Accruals  For invoices paid with an FY17 transaction date for goods or services that were provided by June 30 th, input a JV to record the payable in FY16. To record the payable and expense in FY16: Debit Department Index Expense Account Code Credit Department Index Received Items Payable B0190 To reverse the accrual in FY17: Debit Department Index Received Items Payable B0190 Credit Department Index Expense Account Code * After July 18 th (dept. lockout), please provide the information to BAO Financial Services

25. Prepaid Expense Accruals Prepaid Expense: Expenses for future fiscal years that are paid prior to June 30, 2016 should be coded to a prepaid expense account code. Post a reversing journal voucher with a transaction date in the future fiscal year and period that the goods or services will be received. This journal voucher may be processed at the same time, if the future period is open. For amounts posted as expense in FY16, that should be prepaid expenses for future years: Debit Department Index Prepaid Expense (A5013 – A5030) Credit Department Index Expense Account Code To remove the prepaid and recognize the expense in the future year: Debit Department Index Expense Account Code Credit Department Index Prepaid Expense (A5013 – A5030) *** Tax reportable expenses must first be coded to an expense account code when processing an invoice.

26. Prepaid Expense Account Codes Account CodeAccount Code Title A5013Prepaid Worker’s Comp Insurance A5019Prepaid Services & Supplies A5020Prepaid Travel A5021Prepaid Subscriptions/Memberships A5022Prepaid Capital Assets A5023Prepaid Software Expenditures A5030Prepaid Miscellaneous Expense

27. 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, 2016. 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

29. Dates to Remember:  June 8 June regular payroll deadline  June 17 Contact BAO for help accruing department non-student accounts receivable  June 28 Last day to submit wire transfer to AP  June 30 Last day to submit student receivables  June 30 Last day to deposit cash by 3:00pm  June 30 Goods and services must be received by this date to pay with FY16 funds  July 5 Last day to submit payroll form (PAA) for FY16 **(Items input in July require a 30-JUN-2016 transaction date)**

30. Dates to Remember:  July 8 Last day to submit upload JVs for period 12 (Z documents through AppWorx)  July 11 Last day to liquidate encumbrances that shouldn’t roll to FY17  July 11 Last day to submit budget changes for period 12  July 11 Last day to input an invoice for period 12  July 11 Last day to input JVs for period 12  July 11 Period 12 Close (5:00pm)  July 12 Period 12 reports are available **(Items input in July require a 30-JUN-2016 transaction date)**

31. Dates to Remember:  July 18 Last day to input JVs for period 14  July 18 Last day to input budget changes for period 14  July 18 Last day to input an invoice for period 14  July 18 Campus lock-out (5:00pm)  July 19 Detail and aging reports due for all non-SIS accounts receivable For assistance with FY16 transactions after the lock-out, contact BAO General Accounting. **(Items input in July require a 30-JUN-2016 transaction date)**

32. Dating FIS Documents  After June 30 th, any document input for FY16 must have the transaction date changed to 30-JUN-2016 This includes:  Budget changes  Invoices  JVs  Travel reimbursements

33. Encumbrances  All open encumbrances (except zero balance items) will be rolled into FY17 Banner FIS operating ledger  Liquidate and close any encumbrances that you do not want to roll into FY17 before the close of period 12 (July 11th)

34. Late FY16 and Subsequent Event Reporting Report FY16 activity and subsequent events to BAO Financial Services as follows:  July 19 to 31 – for posting into Banner FIS during lock-out  August – to be included in UO Financial Statements  September to October – late reporting

35. Reporting Property Not Owned by the UO  To provide required information for leased asset year-end reporting  To provide adequate insurance coverage  FWIFLST – Banner query form to review inventory records Leased Property (Acquisition codes LE/LP) Rented Property (Acquisition code RT) Loaned Property (Acquisition code LN)

36. Real Property  Performed in conjunction with BAO Property Control and Campus Planning, Design & Construction  Capitalization of construction in progress (CIP) expenses  BAO moves debt from plant funds to operating funds  Conversion of completed projects into the Banner FIS real property records  Componentization of specified buildings used extensively for research

37. FY16 Accomplishments  UO’s second revenue bond sale  Facilities and administrative rate proposal in negotiations  Expanded Cognos IDR reporting  University of Oregon account code reference webpage is online https://fpm.uoregon.edu/accountcodes

38. Looking ahead to FY17  BAO moving to Thompson University Center  Continuing to update adopted policies  Fleet copier lease rollout

39. BAO Financial Services  Business Affairs - http://ba.uoregon.edu/content/contacts http://ba.uoregon.edu/content/contacts  General Accounting, CAFAR, and Property Control – http://ba.uoregon.edu/content/accounting-and- financial-management-contacts http://ba.uoregon.edu/content/accounting-and- financial-management-contacts  Travel (6-3158) - http://ba.uoregon.edu/staff/travel- office-contactshttp://ba.uoregon.edu/staff/travel- office-contacts  Accounts Payable (6-3143) - http://ba.uoregon.edu/staff/ap-invoice-payment http://ba.uoregon.edu/staff/ap-invoice-payment

40. Useful Links Year End COB Instructions and Deadlines FY16 http://ba.uoregon.edu/staff/year-end-close UO Financial Statements http://ba.uoregon.edu/staff/financial-reports