FISCAL YEAR END
DEADLINES
2016
Barb Shafer – Business Services
Heather Hanna – Financial Services
Cash Balances
• All funds must have positive cash balances by June 7, 2016.
• To verify your fund balance, go to FGITBSR in Banner and put in
your fund.
**Please note that you do not need to check fund balances on
general operating funds (funds beginning with 61xxxx).
• Please contact Heather Hanna at x1682 if you have any questions
or need additional information.
Expenditure/Revenue/Payroll
Corrections:
All requests for journal corrections to be made for FY16 should be
received in Financial Services office on or before 5:00 PM July 5, 2016.
The Finance Expenditure Correction form can be found Online at:
http://www.msubillings.edu/FinancialServices/forms/ExpenditureCorrection
Request.pdf
•
•
Please contact Heather Hanna at x1682 if you have any questions or need
additional information.
•
All ETF’s for payroll corrections for FY16 should be submitted to Financial
Services/Payroll by July 5, 2016.
Warrant Cancellation
• Any payment that needs to be canceled should be
received in Business Services by 11 AM June 13th in
order to get them processed before the state cutoff.
Change Fund Reconciliation
• Any Department with approved change funds.
Reconciliation of those funds is required by June 30th.
• If you do not have an approved change fund make sure
any campus money is deposited by Noon on June 30th.
Cash Deposit/Refunds
• All cash deposits must be receipted in the Business
Services, Cashier window by NOON, Monday June 30th.
Invoices/BPA’s/Travel Reimbursements
• Vendors: All invoices with BPAs (Banner Payment Authorizations)
must be received by Business Services, Accounts Payable, by Noon,
July 5th.
– Please process invoices as soon as possible before June 27th; this will
greatly reduce “last day” workloads and the number of accruals.
– Please anticipate your needs early and order accordingly; acquire
items only in a reasonable quantity that will be consumed in the
current fiscal year.
Purchasing Cards
PCARD Transactions:
** Purchases Made in June on the PCard are not guaranteed to process in time for FYE closing**
•
•
•
•
June P-Card Dates
Last Day to Charge: Tuesday, June 21st.
See Those Charges in Banner no later than: Thursday, June 23rd, after 8:15 AM
All Charges for this cycle MUST be posted in Banner by: NOON, Friday, June 24th
•
•
•
•
June 13th Month P-Card Dates
Last Day to Charge: Thursday, June 30th
See Those Charges in Banner by: Tuesday, July 5th, after 8:15 AM
All Charges for this cycle MUST be posted in Banner by: NOON, Wednesday, July 6th
Accruals
• Accruals are processed for expenditures to outside sources
for which the goods or services were ordered in FY16 but
have either not been received or have not been paid.
• There are two Types of Accruals.
– A Accrual
– B Accrual
Accruals Continued….
•
It is especially important that you answer the question “Were goods or
services received on or before June 30th?”
– If your answer to this question is “no”, you have an “A” accrual. The
goods and services were received ‘A’fter June 30th.
• “A” accruals will only be recorded for expenditures using General Operating funds, as
they are needed only for state budget purposes.
• “A” accruals will only be processed for purchases greater than $1,000.
– If your answer to this question is “yes”, you have a “B” accrual, the
goods and services were received ‘B’efore June 30th.
Accruals Continued….
• If an invoice is not received by June 30th, please use the
following guidelines for all departments, regardless of
funding source:
•
Purchases valued at less than $1000 will not be accrued.
•
Business Services will automatically review the PO’s and DPO’s on file and research if any need to be
accrued.
• Submit and/or contact Business Services about any outstanding
order(s) or payments.
Purchase Order/DPO Schedule
•
The following Purchase Order (PO)/DPO cutoff dates have been coordinated with the State Procurement Bureau to synchronize with
the processing times and deadlines set by the State of Montana. If you need to make purchase before the end of Fiscal Year 2016
Please Note: All dollar amounts shown represent Total Contract Value (TCV), which includes the value of any potential renewals.
•
Other than controlled commodities, MSU-Billings Purchasing has the authority to process Requisitions with a total contract value
(including renewals and options) up to $150,000. If the TCV of the PR/DPO exceeds $150,000, we will send a Requisition to the MSU
Bozeman Procurement Services for processing.
PURCHASES FOR CURRENT FISCAL YEAR, FY 2016
–
Purchases exceeding $150,000 will need to go through MSU Bozeman, as MSU Billings cannot spend over this amount within its
delegated authority. If you have something of this magnitude on the horizon, please contact Business Services immediately.
–
Other Purchases (valued under $150,000) need to be turned in to Purchasing according to the following timetable to ensure
adequate time for bids to be awarded:
• Procurements that require Competitive Bidding: Monday, May 16th
• Procurements that do not require a competitive process (Sole Source, procurement exempt, etc.): Friday, June 3rd
Future Purchases
• PURCHASES FOR NEXT FISCAL YEAR FY 2017
• Purchase Order’s/DPO’s involving FY 2017 funds may be
processed prior to July 1, 2016; however, the Department
must indicate the following on the Purchase Request:
NOTE: THIS IS A JULY FY2017 ORDER.
•
May 16, 2016: Purchases over $5,000 that require Competitive Bidding.
•
June 3, 2016: Purchases over $5,000 that do not require Competitive Bidding.
•
June 3, 2016: Technology Equipment Purchases
•
June 7, 2016: Positive Cash Balances & Warrant Cancellations
•
June 13, 2016: Purchases under $5,000, This will include purchases through eMarket (previously Central Stores)
•
June 13, 2016: Copy Room & Print Shop Orders
•
June 21, 2016: Credit Card Purchases
•
June 30, 2016: Deposits and Receipts and Change Fund Reconciliation
•
July 5, 2016: Vendor Payments for FY 2016, Accruals, Travel Reimbursements,
Expenditure/Revenue/Payroll Corrections, Budget Adjustments.
*** ALL DATES ARE TENATIVE TO CHANGE ***
Questions
– Business Services – Jill Brown 657-2151
– Financial Services – Heather Hanna 657-1682
– Budget Office – Dean Hanson 657-1680