Fiscal Year End
Training
2016
Agenda
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Year End Close Tasks and Timelines
Prepaid and Accrual forms
Other Deadlines
Resources
UBS Contacts
Question & Answer
Year End Close Tasks
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Ensure positive cash & fund balances
Record and pay claims
Purchasing Card
Cash receipts
Autobills
Property Management
Journal entries & Corrections
Other
Ensure positive cash & fund balances
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Begin reviewing negative balances
Utility auto bill for May processed by
Request for Foundation reimbursement
due to Foundation office
Cutoff for financial aid disbursements
Deadline - all balances positive
5/31/16
6/20/16
VP, UBS, Depts
6/20/16
6/20/16
6/20/16
Departments
Financial Aid
Departments
Final review of cash balances
Final adjustments to cash balances
Feed June telephone bill
Outside Checking Accounts Reconciled
and provided to UBS
6/30/16
6/30/16
7/08/16
VP/Other
Departments, UBS
ITC
7/11/16
Depts, Agencies, UBS
Facilitites
Record and pay claims (BPAs)
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Petty cash reimbursements due to UBS
6/17/16
Departments
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Departments submit final FY16 BPA Claims
6/30/16
Departments
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All POs in Banner 3 pm
6/30/16
Procurement
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Computer & Student Equip Fees Spent
6/30/16
Departments
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AES, ES, FSTS submit final FY16 BPA Claims
7/05/16
AES, ES, FSTS
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Transmit final FY16 claims to SABHRS
7/11/16
Systems
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Final IDC run, Admin Fee, Final term pool, E-Scrap
7/11/16
OSP, UBS
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Ag Revenue Fee
7/11/16
College of Ag
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Run Procurement encumbrance roll, salary
7/11/16
encumbrance roll, and GL roll once payroll has posted
Systems
Purchasing Card
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Verify 62886 p-card clearing account has a zero
Balance through May / complete corrections
6/10/16
Departments
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Purchasing card transaction cutoff (1st)
See charges through 6/21 in Banner
Charges feed to Banner
6/21/16
6/23/16
6/24/16
Accounting
Departments
Systems
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Purchasing card transaction cutoff (2nd)
See 6/22-6/29 charges in Banner
See 6/30 charges in Banner
Charges (6/22-6/30) feed to Banner
6/30/16
7/01/16
7/02/16
7/06/16
Accounting
Departments
Departments
Systems
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Verify 62886 p-card clearing account has a zero
balance through June / complete corrections
7/07/16 Departments
(Corrections to UBS or Department - be sure to change JD1 date to 6/30!)
Final Cash Receipts
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Submit cash receipts by 11am
6/30/16 Departments
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Credit card receipts by 10am
6/30/16 Departments
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Cash receipts after 11am, accrue FY16
6/30/16 Accounting, Depts
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Credit card receipts after 10am for 6/30 7/01/16 Accounting, Depts
manual & virtual terminals, accrue FY16
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Commerce manager, echeck, Webpay
EOD for 6/30 need to accrue
7/01/16 Accounting
Autobills
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Autobills for outside vendors to date to UBS
(Example: Bookstore, Foundation)
6/13/16
Departments
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UBS feeds outside vendor autobills to Banner
6/16/16
UBS, Systems
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Final autobills for outside vendors due to UBS
7/01/16
Departments
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Cat Card final redistribution
7/06/16
RLUFS
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Feed final FY16 autobills (change date to 6/30) 7/08/16
UBS, Systems
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Last day for dept to dept X-feeds
Departments
7/08/16
Property Management
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Capital inventory verification
4/27/16
Depts, Prop Mgmt
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Minor & sensitive inventory reports to UBS
4/27/16
Depts, Prop Mgmt
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Donated asset response to UBS
6/17/16
Depts, Prop Mgmt
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Capital Items (including ‘intent to fabricate’ items) for June and June 13th month
Pcard reports:
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Please scan a copy all backup documentation as soon as you receive it to Kenny Baese and
Christina Fournier for entry into the Fixed Asset system. These items will need to be entered
for FYE prior to completed pcard report submission to UBS.
Journal Entries & Corrections
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Correction memos due to UBS (corrections through May)
6/15/16
Depts, HR, OSP
(Corrections through June due to UBS 7/6/16)
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Final warrant cancellations due to UBS
6/15/16
Depts, HR, OSP
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Prepaids due to UBS
6/30/16
Departments
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Accruals (Expense & Revenue) due to UBS
7/07/16
Departments
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Submit unearned (deferred) revenue items
7/07/16
Accounting, Depts
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JD1s, JG1s final in Banner (backdate to 6/30 for entry after 7/1!)
7/08/16
Depts, OSP
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Compensated absences entry
7/08/16
Accounting, HR
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Initiate IUJs to other agencies to UBS (DPHHS 7/6/16)
7/08/16
Depts, Acctg
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Answer IUJs on SABHRS (actual 7/24)
7/18/16
Accounting
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Procurement encumbrance roll, salary
encumbrance roll, and GL roll once payroll has posted
7/11/16
Systems
Other Deadlines
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Procurement
ITC
HR/Payroll
Costco
Leases
Procurement
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Requisitions exceeding $500,000 will need to go through the State, as MSU cannot spend over this
amount within its delegated authority. If you have something of this magnitude on the horizon, please
contact Laura Humberger at x4361, immediately.
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Other requisitions (valued under $500,000) need to be turned in to Procurement Services according to
the following timetable to ensure adequate time for bids to be awarded:
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Procurements that require the Request for Proposal process (criteria other than low cost): Friday, March 18th
Procurements that require the Invitation for Bid process (awarded to low cost alone): Friday, May 20th.
Procurements that do not require a competitive process (i.e. Sole Source, procurement exempt, etc.): Friday, June 10th.
Remember that although FY16 purchases will take priority, these deadlines only apply to procurements
that must use FY16 funding. If you have procurements with FY17 funding you can continue to submit as
normal (see below).
Please indicate clearly on your purchase requisition the funding year, as this will help us ensure prompt
processing.
Use of competitive bids and all other State requirements must be followed even during year end.
ITC Purchasing Support
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Orders placed by 6/10 should be received and autobilled by 6/30
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Orders placed by 6/23 that are not received by June 30 will be accrued by ITC for the
department according to accrual guidelines
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Orders placed after 6/23 (6/24-6/30) will be expenditures for FY17
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IT Purchasing support webpage:
http://www.montana.edu/itcenter/purchase/
HR / Payroll Information
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Summer salary tail info (6/11 payroll)
Salary correction memos due
Summer salary tail info
(June supplemental payroll)
June Salaries to Finance
Bring salary encumbrance to zero
Final payroll correction JVs
OSP xfeed for benefit pool entries
Feed payroll adjustment info
6/09/16
6/20/16
6/24/16
HR
HR
HR
7/07/16
7/08/16
7/11/16
7/11/16
7/11/16
HR
Budget
Acctg, HR
OSP
HR
Costco Purchases
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Last day to charge at Costco for June
6/21/16
Departments
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Documentation to UBS by noon
6/22/16
Departments
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Purchases made after June 21st will be expensed in FY17
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If you do make a large FY16 purchase at Costco after June 21st, please contact Tanya Arrington
X3345 and it may be accrued
Leases
• Please advise UBS if you have any leases of
land or equipment by 6/13/16.
• Send a copy of the PO and/or lease agreement
to one of the following staff:
– Tanya X3345 for land leases and equipment leases under $5,000
– Loreen X1956 for copier leases and equipment leases over $5,000
• If you are unsure, please call Tanya X3345 to discuss
FY 2017 Begins
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IDCs begin for FY17
7/12/16
OSP
Admin fees for FY17 begin calculating
7/12/16
OSP
Accept 2017 claims, begin processing
7/14/16
UBS
FY17 Budgets into Banner
7/15-7/22/16 Budget Office
FY17 begins for Accounting
7/26/16
UBS
Reverse all accruals & deferrals
7/26/16 Accounting
Record prepaids as expense
7/26/16 Accounting, Systems
Resources
Departmental Checklist / FYE Close Letter / Year End Forms
http://www.montana.edu/ubs/accounting/fiscalyearend.html
UBS Questions
ubshelp@montana.edu
994-3653
UBS Contact Info
Tanya Arrington
Christina Fournier
Sarah Gorlitz-Burk
Andrea Gullickson
Lynne Hendrickson
Katie Matzinger
X3345
X3653
X6411
X5727
X5739
X7508
Accounting
UBS Help, Prop Mgmt
Accounts Payable
Purchasing Card
Accounts Payable
Accounting, Director
Questions & Comments