WESTERN MICHIGAN UNIVERSITY
FISCAL YEAR-END ACCRUALS, STATEMENT RECLASSES AND OTHER CONCERNS
FOR JUNE 30, 2016
ITEM DESCRIPTION
1 ACCOUNTING DEPARTMENT
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
AA
BB
CC
DD
EE
FF
GG
HH
II
JJ
KK
LL
Record fund 11 summer II stipends and aid in correct year
Bill out year-end copy machine charges
Inventory Entries
1 Sindecuse Health Center
2 Maintenance Stores
3 Lawson skate rental
4 West Hills
5 Fetzer Center
6 Dining Services
7 Bernhard Center
Accrue staff & student payroll - hourly
Accrue staff payroll by function - salaried
Adjust ppd 52 cash/liability
Book Federal and State aid receivables
Review 6/30 closing bank reconciliation for possible final close entries
Bank reconciliations variances
JES - Change fringe rates for new fiscal year
Summer payroll object codes pp52 to next fiscal year (#3151)
JLD salary allocation (Assc. Dir. to cover non-federal share)
ACA calculation (and drawdown)
Book non-state share MCWS
Book non-federal share FCWS
Adjust A/R for equipment sales to Innovation Center (fund 61 account 1290)
Banner - 6/30 post to GL
Employment/benefit - new programs or contract changes
Reverse fica on MGWS, MUWS and FCWS
List of cost centers deactivated during current FY to Procard Administrator
Clear fund 55 fringe account (plus/minus 10%), adjust billings
(cash basis: no July payments credited to fringe account)
Adjust fund 55 reserve levels - Hosp/med, LTD, W/C
Record change in 55-0000000-1332 w/c deposit
Accrue estimated expense for unemployment compensation
Insurance & benefits transfers
Fund compensated absences
Adjust Perkins Loan liability
Adjust fund 55 liability object codes
OPEB endowment entry
AP meeting to discuss accruals, payments, etc.
Move investments - cash research foundation
Review internal interest allocation rate
WMURF entries
BRCC entries (Book accrued interest)
Adjust BRCC allowance
Medical School entries
Allowances/write offs
Review YE Processes between WMU and Wmed
RESPONSIBLE
Larson
Henderson
Larson
Larson
Larson
Larson
Pennock
Quakenbush
Quakenbush
Puckett
Puckett
Puckett
Larson
Puckett
Miller/Fox
Puckett
Puckett
Larson
Larson
Larson
Larson
Prichard
Atherton
VanWalbeck/Long
Larson
Larson
Puckett
Puckett
Puckett
Puckett
Puckett
Puckett
Larson
Puckett
Puckett
Puckett/Miller
Long
Puckett
Puckett
Larson
Larson
Long
Long
Long/Puckett
2 PLANT ACCOUNTING
A Run year-end asset management processes/reports
B Capitalize library holding additions
C Capitalize equipment additions/retirements (include adds through 6/30)
D Capitalize land, land improvement, utilities and buildings
E Adjust capital lease liability
F Book depreciation expense
G Arbitrage calculation/entry
H Charge annual bond/note debt service to appropriate units
I
Book retainage liability to CIP
J
Book outstanding invoices to CIP
K Book construction contracts payable at 6/30 and not recorded in A/P
L
Adjust CIP (expense or capitalize) in funds 63 to fund 61
M Record bond/note interest payable
N Amortize bond issuance costs
O Record capitalized interest
P Book receivable from State of Michigan
Q Software capitalization review
R Invoice Wmed for direct placement debt service
3 ACCOUNTS PAYABLE
A Encumbrance PO Balances to budget/Tech purchases
B Deactivate A/P vendors
C Unrecorded liabilities
D Various prepaid and unrecorded liabilities (including postage)
E Accrue travel vouchers
F Expenses booked, not received
Hansen
Prichard
Hansen
Hansen
Prichard
Hansen
Prichard
Prichard
Prichard
Prichard
Prichard/Halseth
Hansen
Prichard
Prichard
Prichard
Prichard
Prichard
Prichard
Miller/Cole
Halseth
Halseth
Halseth
Halseth
Bettis-Cooper/Halseth
4 CUSTOMER ACCOUNTS SERVICES & CASHIERING
A Adjust reserves for doubtful accounts for all funds
B Reconciliation of 51 000000 6031
C Perkins entries
D Review/record deferred income for summer charges (include Orientation)
E Entry to reverse cash credit for timing of printing refund checks
F Record receivable for MET payments
G Reclass Summer II revenue to next fiscal year
H Reclass Summer II CELCIS revenue and payments
I
Fund collection costs
Atherton
Fox
Larson
Larson
Larson
Atherton
Larson
Atherton
Long
5 PAYROLL
A Review and reconcile payroll withholding and suspense codes
B Review and reconcile 6410-6412
C Review/record FICA excess liability
D Adjust withholding fund 53
Puckett
Puckett
Puckett
Puckett
6 INVESTMENTS & ENDOWMENT MANAGEMENT
A WMU Foundation endowment fund 54 (including Upjohn Chair)
1 Realized gains, losses
2 Record net income -adjust book to market
3 Appreciation gains, losses
B WMU endowment fund 32
1 Accrue as payable - fund 32 2nd quarter payment (Pd in July, book in June)
2 Accrue as receivable - fund 32 interest earned as of 6/30
3 Accrue as payable - additional principal investment to State Street
(Transferred in July, booked in June)
C Gift annuity
1 Accrue income as receivable
2 Realized gain, loss
3 Adjust to present value
D Book June Aetna/John Hancock/BCBS bank transfers for medical claims
E Obtain market values for deferred comp accounts (SDM&G) for footnotes
F Transfer interest earned on Perkins funds from 23 investment income
account (monthly average cash X monthly interest average)
G Liability for deferred compensation
H Record state appropriation receivable
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
Griffith
7 BUSINESS SERVICES
A Adjust fund 55 reserve levels - Gen liab, Errors & omissions, Retentions
8 AUXILIARY ENTERPRISES
A Book accounts receivable for bookstore
B Reallocate fund 41 conference revenue
C Clear balances in unearned revenue codes to revenue
D Book year-end "trade outs" for Miller Aud
E Record receivable/payable for aviation
F Record receivables/payables for Unified Clinics
G Miller Auditorium - Accrue artist fees and accounts receivable
H Accrue 51 agency (example NSF) May-June payments
I
Accrue telephone invoices expense
J
Record receivables
K Reconcile deferred income for aviation
L
Book Telecom inventory at 6/30
M Book receivable for Sindecuse Health Center
N Year-end encumbrance information to Accounting
1 Fund 46
9 BUDGET OFFICE
A Payroll expense accrual for faculty earned but not paid
B Faculty accrual/late payoff
C General fund support
D Student fee reserve close-out
E Executive carryforward - general fund
F Property Insurance function 6 to 7
Kellogg
Pennock
Quakenbush
Quakenbush
Pennock
Bates
Sundberg
Pennock
Bond
Bond
Bond
Bates
Bond
Vanbalen
Cole
Houser
Houser
Keck/Houser
Thomas/Houser
Houser
Keck
10 INTERNAL AUDIT/TAX
A Compensated absences
B Arbitrage calculation
C Unrelated business income tax charge
D Prepaid expenses for audit fees (11 000000 1790)
Comer
Carroll
Carroll
Comer
11 ATHLETICS
A Record contract/aid receivables
Porter
12 WMU FOUNDATION
A Life insurance cash surrender adjustment
B Adjust non-endowment stocks held to market
C Record estate gifts receivable
D Record pledge receivable allowance
E Record pledge receivable discount
E Assure WMUF transfers are complete by 6/30
13 GRANTS & CONTRACTS
A Accrue receivables/payables : Federal, State and other
Hunt
Hunt
Hunt
Hunt
Hunt
Hunt
McKain