MEMORANDUM
TO:
University of Kansas Medical Center
FROM:
R. Michael Keeble, Associate Vice Chancellor
James Dietrich, Purchasing Director
Tim Siskey, Chief Financial Officer
DATE:
May 3, 2016
SUBJECT:
Closing Procedures for the Fiscal Year Ending June 30, 2016
This memo provides dates and instructions that we ask you to observe so we may
satisfy state closing requirements.
Please pay careful attention to the dates in this document
It is very important to plan accordingly for all purchases utilizing FY 2016 funds.
Research Institute (RI) - Fiscal Year End Procedures:
The Research Institute will implement early closing procedures for fiscal year end
processing. Please refer to the Research Institute year end Schedule for all
deadlines. (see page 6)
RINST Requisitions and Travel Requests that only use RINST funds will follow the RI’s
year end schedule.
Any KUMED processes where you use a “Q”, “Y” or “Z” account (i.e.
Interdepartmental Billing System), falls under KUMC’s guidelines and policies set
forth herein.
State Closing Procedures/Deadlines:
1.
Requisitions: Cut off for data entry of routine requisitions into the Market
Center will be Friday, June 10, 2016, at 5:00PM. Any requisition that requires
modification must be corrected and Purchasing notified of the correction
by June 13, 2016, at noon, or it will be canceled.
In previous years emergency requisitions/orders were able to be processed
by Purchasing through the end of June. Due to Topeka’s early closure,
emergency order items will need to be purchased with a BPC card. Keep in
mind that any other purchase made after June 13th will be considered FY17
(see BPC item 11 below).
FY2017 Requisitions may be entered in the Market Center starting July 1,
2016.
2.
Change Orders: Cut off for change orders is Monday, June 13, 2016 at
12:00PM. No changes will occur to purchase orders after this date. If you
face an encumbrance shortfall after this deadline, you will be required to
utilize private funds to satisfy payments. Please remember to verify all open
orders to determine if freight charges, hazardous charges, etc. should have
been included on the purchase order. If they should be included, and
were not, this additional charge requires a change order.
3.
Receiving in the system must be completed by 4:30PM on Friday, June 10,
2016.
4.
Purchase Requisitions (Bid Transactions) are due in Purchasing by
Wednesday, June 1, 2016 at 4:30PM.
5.
Interfund Vouchers: It is recommended that you enter your requisition to
pay state agencies by Friday, June 3, 2016 to allow Purchasing and
Accounts Payable adequate time to process your request. Invoices for
Interfund Voucher should be received in Accounts Payable by 4:30PM on
Friday, June 10, 2016. All current outstanding interfund expense vouchers
must be paid immediately. Departments will be notified by email of their
current obligations.
Interfund receipts: Interfund receipts must be submitted to Control and
Reporting by 5:00PM on Friday, June 10, 2016. If you are billing another
state agency for goods/services, be aware that they also follow similar
cutoff time lines. If your invoices are not submitted to their accounting
departments by their cut-off time, the revenue will not be posted in FY2017.
Departments paying tuition (Fall 15, Spring 16, and Summer 16) to KUMC
Student Financial Accounting only, utilizing state funds, are processed by
interfund. These payments also follow the deadlines set forth for requisition
and invoice processing. The invoice with PO/receiving numbers indicated
and paper interfund voucher must be sent directly to Student Financial
Accounting for processing. Do not send the invoice to Accounts Payable.
Failure to forward these documents directly to Student Financial
Accounting may result in your student's tuition not being paid. Please note
that the fiscal year is determined by the beginning date of the class.
6.
Imprest Checks: Imprest Checks for FY16 will not be issued after Friday,
June 3, 2016.
7.
Travel: Travel reimbursement for FY16 travel will be accepted until 4:00 p.m.
on Friday, June 10, 2016. For all travel that concludes prior to June 10, 2016,
the travel request will need to be approved by the department approver in
PeopleSoft, plus the signed and dated travel payment voucher, all
receipts, and supporting documentation will need to be in Travel Audit’s
office no later than June 10, 2016. Travel beginning/concluding June 11 –
30 will need to be processed with private funds or will be considered an
FY2017 expense.
8.
Interdepartmental Billing: Cut off for FY 2016 transactions (both on-line and
interface) is Wednesday, June 15, 2016 at 5:00PM.
9.
Request for Journal Voucher/Funding Adjustment: Cut off for on-line
expense journal voucher requests for FY 2016 is 5:00pm on Friday, June 10,
2016. Revenue requests sent via e-mail will also cut off on Friday, June 10,
2016 at 5:00pm.
Reminder: All requests submitted may not be processed. Approval or
denial of your request will be sent via e-mail. Please contact Control and
Reporting for any questions or concerns relating to your requests.
10.
Invoices: Invoices must be in the Accounts Payable Office, Support Service
Building, Mail Stop 2023, by 4:30PM on Friday, June 10, 2016. To allow for
processing before year-end close, all invoices must be received in their
respective system and approved in Image Now, if applicable. To avoid
delays, each PO line must have an adequate amount encumbered to
process the invoice for payment, including any freight, shipping/handling
charges.
11.
Business Procurement Card: The final day to enter BPC transactions for FY16
is 5:00pm, Monday, June 13, 2016.
12.
Receipts: All deposits must be in the bank by Friday, June 17, 2016 to be
considered FY16 receipts. Please deliver your deposits to your designated
drop off point no later than Wednesday, June 15, 2016 for your deposits to
be in the bank by June 17, 2016. All supporting documentation must be in
Control and Reporting by 2:00pm Tuesday, June 21, 2016. Deposits posting
to the bank after June 17th will be considered FY17 receipts. Credit card
payments processed and/or posted after June 17th will be considered FY17
receipts. Please contact Control and Reporting should you have any
questions or concerns regarding deposits.
13.
RFAs: All FY16 funding adjustments must be in the Budget office by 5:00PM
on Tuesday, May 31, 2016.
14.
Stipends: All Stipends requests for June 2016 distribution must be in
Accounts Payable Office by 5:00 PM Friday, June 3, 2016 to allow time to
process before year-end close.
The following rules apply when determining the fiscal year to be charged:
a. Generally the date an item is ordered or the date service is rendered
determines the fiscal year to be charged. Please note, the date of the
invoice does not determine the fiscal year to be charged.
b. Rental equipment expenses are determined by the ending date of the
period.
c. Maintenance or service contracts are determined by the beginning
date of the period.
d. Subscriptions and memberships are determined by the beginning date
of the period.
For additional information or clarification of the Medical Center’s closing
procedures for Fiscal Year 2016, you may contact the following by telephone or email:
James Dietrich, Director
Bryan Thomas, Associate Director
Deborah Alspaugh, BPC
Janie Meeker, Requisitions, PO’s
Havis Wright, Assistant Controller
Toni Funderburke, Manager
Charles Miller, Accountant III
Jerry Glenn, Associate Controller
Valerie Warren, Manager
Chris Kerens, Director
Purchasing
Purchasing
Purchasing
Purchasing
Accounts Payable
Accounts Payable
Travel Audit
Control and Reporting
Control and Reporting
Budget Office
8-4186
8-1115
8-1116
8-1130
8-5335
8-5335
8-5339
8-5365
8-5333
8-1257
KUMC
FY 2016 Year End Schedule
Friday, May 31st
Last day for FY16 Funding Adjustment transactions to Budget Office
4:30PM
Wednesday, June 1st
Last day for FY16 Bid Transactions due to Purchasing
4:30PM
Friday, June 3rd
Last day to enter Interfund requisitions to pay State agencies
Last day for stipends to Accounts Payable
Last day for Imprest checks for FY16
4:30PM
5:00PM
4:30PM
Friday, June 10th
Cut off for data entry of routine requisitions into the Market Center
Last day to receive in the Market Center
Last day for Interfund vouchers to be received in Accounts Payable
Last day for Interfund receipts to be received in Control & Reporting
Last day for all FY16 travel and travel claims documentation
Last day Journal Vouchers/Funding/Revenue Adjustments
FY16 invoices must be received in the Accounts Payable Office
5:00PM
4:30PM
4:30PM
5:00PM
4:00PM
5:00PM
4:30PM
Monday, June 13th
Last day for Change Orders/Modifications
Last day to enter FY16 BPC transactions
12:00PM
5:00PM
Wednesday, June 15th
Last day for Interdepartmental billing
Last day to drop off deposits to your designated drop off point
5:00PM
5:00PM
Friday, June 17th
Last day for deposits to be in the bank
2:00PM
Friday, June 21st
Last day to submit FY16 deposit supporting documents to Control &
Reporting
2:00PM
Research Institute
FY 2016 Year End Schedule
Last Day to enter Requisitions and Travel claims for FY16
Last day to submit RI cash receipts for FY16
Last day to accept invoices for FY16
First day to process transactions for FY17
Last day to receive in FY16
AM 90 RINST reports for June FY16 will be available
Friday, June 24th
Wednesday, June 29th
Friday, July 1st
Friday, July 1st
Thursday, July 7th
Monday, July 18th
In efforts to meet early reporting requirements mandated by the State, The RI
implemented early cutoff deadlines for fiscal yearend processing. To
accommodate all Users, the dates have been extended outward to allow
maximum time for processing FY16 transactions.
For additional information or help with any questions on the Research Institute’s
closing procedures, please contact any listed individual from the Financial
Services team by telephone or email:
Tim Siskey, CFO
Tim Lumpkin, Controller
Annie Landreville, Assistant Controller
Jackie McGrew, Lead Accounts Specialist
Amanda Lawson, Accounts Specialist
8-5313
8-5749
8-1264
8-1241
5-5053