YEAR END
PURCHASING &
FINANCE
April 11, 2016
PURPOSE OF MEETING: Year-End Close
We need your help!
* Clean up funds,
accounts and budget
Processing &
Reconciling
Audit
Complete FY 2016
* AP payments
* Close fiscal year
* Deposits
* Journal entries
* Testing transactions
and account balances
* Payment requests
* Reconciling accounts
* Ensure proper cut-off
* Audit work papers
July 15, 2016
* Auditor questions
GONZAGA UNIVERSITY
* Issue financial
statements
* Audit committee
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AGENDA
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Purchasing
Budget Office
Accounting
Travel & Expense
Deposits
Accounts Payable
Survey Results
Banner Finance Hands-On Training
July 15, 2016
GONZAGA UNIVERSITY
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PURCHASING
PURCHASING
• Historical Purchasing Freeze is gone!
• Follow the normal approval process
• Remit all receiving copies to purchasing as soon as
items are received
• Keep in mind:
• Purchases will be expensed in FY received
• You cannot postpone until next FY
• Vendors should not be asked to change invoice data
• Include event date in your request to minimize
questions
July 15, 2016
GONZAGA UNIVERSITY
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PURCHASING – Timing of Goods Received
• Goods and services received by May 31, 2016
will be expensed in FY16
• Items received in June will be expensed in FY17
• Exception: if you are required to make a payment in
order to receive the goods or services, the expense
will be recognized when the payment is made
July 15, 2016
GONZAGA UNIVERSITY
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PURCHASING – Receiving
• Return the “Sign & Return to Purchasing when
Product Received” copy of the PO to Purchasing
as soon as the items are received
• Without exception for items received on or
before May 31, the receiving copy needs to be
returned to the Purchasing Dept. no later than
June 6th.
July 15, 2016
GONZAGA UNIVERSITY
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PURCHASING – Purchase Orders
• All standing POs will be closed and re-established
with a new PO number
• A select list of POs for FY16 will be rolled to FY17.
Purchasing will follow up with departments
• Email new Standing PO requests to
purchasing@gonzaga.edu
July 15, 2016
GONZAGA UNIVERSITY
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PURCHASING – Supporting Documents
• Documentation must accompany requisitions
with a “prepay” or “mail check” process
• This ensures a faster process
• Necessary to provide a paper trail for audits
• Documentation should include:
• Vendor address
• Description
• Total dollar amount
July 15, 2016
GONZAGA UNIVERSITY
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WHO TO CONTACT
Steve Lunden, Director of Purchasing
lunden@gonzaga.edu | x5624
July 15, 2016
GONZAGA UNIVERSITY
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OFFICE OF BUDGET AND
FINANCIAL ANALYSIS
BUDGET– Budget Adjustment Requests
• Use BARs to clean up your Direct Expenditure
account lines
• Direct Expenditure lines in total should not be
overdrawn
• Use FGIBSUM in Banner to view overall Direct
Expenditure balance versus budget
• Include transfer lines and exclude revenue accounts
July 15, 2016
GONZAGA UNIVERSITY
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BUDGET– Budget Adjustment Requests
• If labor is overdrawn, submit BARs to cover
shortfalls by position number
• Base budget is maintained separately from the
current year budget
• When submitting BARs, please mark “current year”
“base” or both – see example
July 15, 2016
GONZAGA UNIVERSITY
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***
***REFLECTS AVAILABLE BALANCE LEFT IN ALL EXPENDITURE ACCOUNTS
FOR THIS SPECIFIC ORGANIZATION AND THIS SPECIFIC FUND
BUDGET– Year End Carryover
• In limited circumstances, departments may
request carryover of budgeted funds to FY17.
• Such requests will be aggregated and must be
approved by the respective vice-presidential
area.
July 15, 2016
GONZAGA UNIVERSITY
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BUDGET– Multi-Year Budget Considerations
• The University is adopting a two-year rolling
operating budget.
• Starting at the end of FY 17 (next year), a
portion of unspent salary and operating expense
budgets will automatically carryover at the
“budget group” level. Exceptions apply.
• More information related to this topic will be
provided in future meetings.
July 15, 2016
GONZAGA UNIVERSITY
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WHO TO CONTACT
Jane Button, Director of Budget & Financial Analysis
button@gonzaga.edu | x6138
Heather Shilley, Assoc. Director of Budget & Financial
Analysis
shilley@gonzaga.edu | x6189
July 15, 2016
GONZAGA UNIVERSITY
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ACCOUNTING
ACCOUNTING – Reconciling
• We need Banner to reflect activity accurately.
• Reconcile accounts and funds and submit
correcting journal entries by June 15th.
• Correct any overspent internally designated
Funds (Funds that begin with 9.....) by
submitting a journal entry to transfer funds by
June 15th. See example.
July 15, 2016
GONZAGA UNIVERSITY
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July 15, 2016
GONZAGA UNIVERSITY
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ACCOUNTING – Journal Entries & Recharges
• Recharge JE’s are due June 8th
• Department JE’s are due June 15th
• A thorough description of the purpose is required
• Must be submitted with proper supporting
documents
July 15, 2016
GONZAGA UNIVERSITY
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ACCOUNTING – Journal Entries & Recharges
• Only authorized budget signers can sign Journal
Entries
• Transfer Journal Entries that include fund 1000
should go through the Budget Office
• JE and BAR forms need to be sent together
July 15, 2016
GONZAGA UNIVERSITY
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WHO TO CONTACT
Pat Bech, Staff Accountant
bech@gonzaga.edu | x6375
Note: Melissa Gable is transitioning to another GU
department. If you had worked with Melissa Gable with
respect to accounting matters, please direct your
inquiries to Pat Bech.
July 15, 2016
GONZAGA UNIVERSITY
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TRAVEL &
EXPENSE
TRAVEL & EXPENSE
• Travel booked that will occur after May 31st will
be charged to your current fiscal year budget
• Please check to see all outstanding tickets get
used before they expire
• All transactions in Zags Travel & Expense need
to be approved by May 31st.
July 15, 2016
GONZAGA UNIVERSITY
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WHO TO CONTACT
Jennifer Frame, Zags Travel & Expense Administrator
frame@gonzaga.edu | x5615
July 15, 2016
GONZAGA UNIVERSITY
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DEPOSITS &
PETTY CASH
DEPOSITS
• Deposits should be submitted throughout the
year on a current basis
• Assumption = you’re receiving money at the
same time the goods or services were received.
If it’s different for you, please talk to us.
• CASHNet cashiers: include instructions for
correct fiscal year.
• All deposits for FY16 are due by June 6th
July 15, 2016
GONZAGA UNIVERSITY
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PETTY CASH
• All Petty Cash replenishment requests are due
June 6th
• Please note – there is a new form on our
website at www.gonzaga.edu/controller
• Petty Cash Custodians will receive a self-audit
request that must be completed with the budget
officer or a dual verifier on May 31st
• Going into FY17 please evaluate petty cash
needs and custodian responsibilities
July 15, 2016
GONZAGA UNIVERSITY
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WHO TO CONTACT
Ashley Seick, eCommerce & Payment Systems
Administrator
seick@gonzaga.edu | x6809
July 15, 2016
GONZAGA UNIVERSITY
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ACCOUNTS PAYABLE
ACCOUNTS PAYABLE - Invoices
• Instruct Vendors to send their invoices with PO#
directly to Accounts Payable
• Email: gonzagaap@gonzaga.edu
• Mail: Accounts Payable AD Box 69
July 15, 2016
GONZAGA UNIVERSITY
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ACCOUNTS PAYABLE - Reimbursements
• All receipts need to be turned in before students
head into finals and home
• Encourage students to enroll in Direct Deposit
July 15, 2016
GONZAGA UNIVERSITY
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ACCOUNTS PAYABLE - Advances
• Non-Concur users: once your trip/event has been
completed, please return signed expense report
along with original itemized receipts to Kari ElgeeSanders so she can clear the advance.
• ZT&E users: be sure all advances have been
applied to the corresponding expense reports.
Expense reports must be submitted and approved
prior to May 31st
• Keep FY15-16 expenses separate from FY16-17
expenses on expense reports.
July 15, 2016
GONZAGA UNIVERSITY
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WHO TO CONTACT
Nancy Grasso, Accounts Payable Manager
grasso@gonzaga.edu | x6807
Younghee Choe, Accounting Assistant (A-K)
choe@gonzaga.edu | x6802
Sara Clarkson, Accounting Assistant (L-Z)
clarkson@gonzaga.edu | x6810
July 15, 2016
GONZAGA UNIVERSITY
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SUMMARY OF
DEADLINES
DEADLINES – Important Dates for Year-End
Due Date by 5:00 PM
What
Contact for Questions
May 31, 2016
Zags T&E Expense
Reports/Reimbursements
Jennifer Frame (x5615)
June 6, 2016
Deposits
Ashley Seick (x6809)
June 6, 2016
Petty Cash Requests
Ashley Seick (x6809)
June 6, 2016
Product Received copy due
to Purchasing
Steve Lunden (x5624)
June 8, 2016
Payment Requests
(Invoices and
reimbursement requests)
Nancy Grasso (x6807)
June 8, 2016
Recharge journal entries
Pat Bech (x6375)
June 15, 2016
Reconcile/balance all
Organizations and Funds
Pat Bech (x6375)
June 15, 2016
Departmental journal
entries
Pat Bech (x6375)
July 15, 2016
GONZAGA UNIVERSITY
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SURVEY RESULTS
SURVEY RESULTS
• We appreciate your feedback!
• Some topics don’t apply to all. New format for next year.
• Main presentation for all
• Breakout sessions you choose where you can get
individualized help with specific situations and
transactions.
• Be sure to bring your questions to have in-depth
conversations with our experts.
July 15, 2016
GONZAGA UNIVERSITY
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HANDS-ON BANNER
FINANCE TRAINING
HANDS-ON BANNER FINANCE TRAINING
•
April 14, 2016 at 10:30 AM
•
One-on-one training with someone from the
Controller’s Office
•
Sign up if interested in attending
July 15, 2016
GONZAGA UNIVERSITY
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QUESTIONS?
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