- Why?
• GAAP – Generally Accepted Accounting Principles.
•
End of the business cycle:
–
State sessions ends in June.
– UO activity begins with summer school (excluding law).
• Federal (GASB) & State (OUS) requirements.
– OUS has a number of mandated deadlines.
• Snapshot in time.
–
YTD Activity is used to monitor, project, budget, compare and contrast with other funds, institutions, etc…
–
YTD balances are used for performance evaluations, system audits, anomalies, etc…

- Why?
•
Annual reporting – Internal & external.
– Rolled into OUS and State financial statements.
– Used by DHHS and other Federal agencies, State Board of
Higher Education, Bonding Services, etc…
• Auditors –
– Test for accuracy, consistency & reliability of systems, including our policies & procedures. Help us establish best practices.
–
Includes: DHHS, Naval Research, NCAA, Clifton Larson
Allen(financial statement & A-133), Secretary of State, etc…
•
OUS Financial Statements : http://www.ous.edu/dept/cont-div/accounting-reporting/annualfinreport

- When?
Activity that takes place between:
July 1, 2011 and June 30, 2012
• Including accruals thru July 23, 2012.
•
Transactions must be recorded in the fiscal year that a majority of the event takes place, not when it is processed.
• This applies to all funds in FIS regardless of the funding source.

- What?
• Close fiscal period 12.
– Our goal is to have all June transactions recorded in FP-12.
• Open accrual period (fiscal period 14).
• Departments have one week for adjustments.
•
BAO/BRP/SPS have one week for adjustments.
•
Close fiscal period 14 (FY-12).
•
OUS extracts our data & populates the HFM System.
•
UO reports any FY-12 transactions to OUS through the date financial statements are released.

• FY-13 balances will only include FY-13 transactions until fiscal period 14 is opened.
• When fiscal period 14 is opened, beginning balances in FY-13 (FP-00) are populated with FY-12 FP-12 ending balances.
• Each entry posted to FY-12 during FP-14 has a mirror entry in FY-13 (FP-00).

A = Assets
B = Liabilities
C = Income Statement Totals
D = Fund Balance
E = Fund Additions
F = Fund Deletions
Income/Expense Accounts are rolled up to Fund
Balance at Fiscal Year-End.

FGITBAL FWIBUDG
Balance Sheet Income Stmt
C0010 0XXXX
C2010
C1010
C5010
1XXXX
2XXXX-
8XXXX
9XXXX
Revenue
Labor
General
Expense
Transfers

• The FIS general ledger is the official source of financial information for the UO.
• Provide a greater amount of detailed information.
• FIS Examples – Operating ledger, Student A/R,
Grants, Fixed Assets, Accounts Payable, etc…
• Departmental shadow systems can be used as a subsidiary ledger. They can be useful in providing information for accounting and reporting to departmental staff. These subsidiary ledgers must be reconciled to Banner FIS.

• June 7 June Regular Payroll Deadline
•
June 22 Contact BAO for help accruing department non-student accounts receivable
• June 29 Last day to submit Student Receivables
•
June 29 Last day to Deposit Cash by 3:00 p.m.
• June 30 Item(s) must be received by this day to pay with 11-12 funds
• July 3 Last day to Submit Payroll Form (PAA) for 11-12.

• July 6 Last day to submit Service Department
Upload JVs, “Z” documents through
AppWorx, for Period 12
• July 6 Last day to direct input Inter-Institutional JVs
(Charts B-K) for Period 12
•
July 9 Last day to submit Budget changes for Period 12
• July 9 Last day to input an invoice for Fiscal Period 12
•
July 9 Last day to input JVs for Period 12
•
July 9 Period 12 Close
*** (Above items must have a June transaction date)

•
July 10 Availability of Fiscal Period 12 Reports
• July 10 Last day to direct input Inter-Institutional
JVs (Charts B-K) for Period 14
•
July 16 Last day to input JVs for Period 14
• July 16 Last day to input Budget Changes for
Period 14
• July 16 Last day to pay an invoice for 11-12
Period 14

•
July 20 Last day to Submit IIJVs to BAO for
Period 14
•
July 20 Detail and aging reports due for all non-SIS accounts receivable
• July 23 Last day to Submit AP Reports
• July 23 Period 14 Close (FY12)
• July 24 Availability of Fiscal Period 14
Reports

Prepaid Expense - A5901
Expenditures must be charged to the fiscal year in which goods are received or the majority of the services are performed.
Example JV’s as follows:
To record expenditure as a prepaid expense in FY12:
Debit Department Fund A5901 - Prepaid Expense
Credit Department Index Expense Account Code - ex.
24505 Performance Fees
To record the reversal in FY13:
Debit Department Index
Credit Department Fund
Expense Account Code - ex. 24505
Performance Fees
A5901 - Prepaid Expense

Prepaid Revenue - B5901
Revenue must be credited to the fiscal year that the goods or majority of the services are provided.
Example JV’s as follows:
To record revenue as a prepaid revenue in FY12:
Debit Department Index Revenue Account Code - ex. 01102 Nonresident
Undergrad Tuition
Credit Department Fund B5901 - Accrued Undistr Income
Prepaid Revenue
To record the reversal in FY13:
Debit Department Fund
Credit Department Index
B5901 - Accrued Undistr Income
Revenue Account Code - ex. 01102 Nonresident
Undergrad Tuition

• Each department must submit a detail and aging report of their non-SIS accounts.
• These reports must be reconciled to banner as of period 14 (use FGITBAL).
• Includes service departments, auxiliaries, and designated operations accounts receivables from entities that are external to OUS institutions.
• All internal transactions need to be posted before the close of FP-14.

• Documents entered between July 1 and
July 16 for fiscal year - 12, you will need to change the transaction date to
June 30, 2012.
This includes:
• Budget Changes
• Invoices
• JVs
• Travel
Reimbursements

• All open encumbrances (except zero balance items) will be rolled into fiscal year 13 Banner FIS operating ledger.
• Liquidate any encumbrances that you do not want to roll into fiscal year 13 before the close of fiscal period 12 (July 9th).

• Expenditures must be charged to the fiscal year in which goods are received or services are performed.
• For goods and services received by June 30 for which vendor invoices have not been received as of July 23, fill out an A/P Report and forward it to BAO Financial Services.
• http://ba.uoregon.edu/sites/ba/files/forms/yearend ap.pdf

• Service Center Compliance
• 5 yr. Plan (CAMP).
• See BAO Website for Detailed Instructions.
http://ba.uoregon.edu/staff/service-centers

• Leased Asset Schedule for Year-End
Reporting.
• Leased Property (LE/LP).
• Loaned Property (LN).
• Adequate Insurance Coverage.
• FWIFLST – Banner Form to Check for
Completeness of Inventory Records.

• Capitalization of construction in progress
(CIP) expenses.
• Conversion of completed projects into the
Banner FIS real property records.
• Componentization of specified buildings used for research.

• Accounting and Financial Management Contacts http://ba.uoregon.edu/staff/actg-and-finl-mgmt-contacts
• Accounts Payable (6-3143) http://ba.uoregon.edu/staff/ap-invoice-payment
• Travel (6-3158) http://ba.uoregon.edu/staff/travel

• http://ba.uoregon.edu/staff/year-end-deadlines-12
• http://ba.uoregon.edu/staff/year-end-close
• http://ba.uoregon.edu/staff/year-end-departmental-instructions-12