University of Colorado Denver | Anschutz Medical Campus
Interoffice Memo
DATE:
May 3, 2013
TO:
All Departments
FROM:
Ryan C. Yu, Associate Director of Accounting Services
Finance Office
SUBJECT:
Fiscal Year-End Close Information and Schedule
June 30, 2013 is the end of the University of Colorado's fiscal year. Financial statements as of that date will
be prepared for audit and publication. Each department plays a critical role in ensuring that all financial
transactions for the fiscal year are entered correctly into the PeopleSoft (PS) general ledger (GL) to ensure
accurate reporting in conformity to Generally Accepted Accounting Principles (GAAP). All assets,
liabilities, revenues and expenditures should be correctly stated for the Fiscal Year ending 6/30/13. Listed
below are important notes and fiscal year-end closing dates. Please start planning now!
FISCAL YEAR-END PAYROLL ACCRUAL INFORMATION
Biweekly Payrolls - The biweekly payroll for the pay period ending June 22 will be 100% expensed to June.
The biweekly payroll for the pay period ending July 6 will be 100% expensed to July.
 The biweekly payroll for pay period ending June 22 will be paid on July 5 and posted to June in PS
on July 3.
Payday Shift – The State of Colorado implemented a June pay date shift in 2003 to deal with the State’s
budget problems. This means that the June salary for employees paid monthly will not be disbursed until
July. However, we will still record June salary expense to each speedtype for June 30. Instead of reducing
cash, payroll and benefits payable liabilities will be recorded in liability account 105102 (Accrued Salaries and
Benefits Paydate Shift). For budget-based funds (e.g. General Fund 10, AEF Gift Fund 35 and Restricted
Funds 30, 31) you will still compare your actual expenses, which will include the accrual for the June
monthly payroll, to budgeted amounts. Cash-based funds (e.g. Auxiliary Funds 20, 26, 28, 29; Gift Fund 34;
restricted projects without a budget) will reflect higher than normal cash balances at June 30 which will be
offset by the related payroll liability. On July 1 (new fiscal year), the liability will be paid and cash reduced.
The general ledger will automatically prepare these accruals for you.
 The monthly payroll for pay period ending June 30 will be paid on July 1 and posted to June in PS
on June 20.
The payroll detail will be available for correction via the normal Payroll Expense Transfer processes.
Notes: Deadlines are 5:00 pm unless otherwise stated.
Departments should continually review their financial statements for errors and correct errors as they are found.
Source: Finance Office
Page 1 of 6
As of May 3, 2013
April 19, 2013 (Friday)
 PO/SPO Requiring Solicitations. Last day to submit PO & SPO requisitions requiring formal
solicitations (purchases of goods or services over $500,000).
May 3, 2013 (Friday)
 PO/SPO with Quotes. Last day to submit PO & SPO requisitions requiring documented quotes
(purchases of goods over $5,000 up to $500,000 using federal funds, or over $10,000 up to $500,000
using non-federal funds; purchases of services over $5,000 up to $500,000 using federal funds, or over
$25,000 up to $500,000 using non-federal funds).
May 24, 2013 (Friday)
 PO/SPO Requisitions. Last day to submit all other PO & SPO requisitions using FY13 funds.
May 31, 2013 (Friday)
 Organization Tree. Moratorium on changes to the org tree in the Finance System for FY13. We can
still set up speed-types using existing org codes.
June 5, 2013 (Wednesday)
 Payroll Suspense. Date that Finance will distribute May payroll suspense items to departments.
 Personal Charges/Unallowable Expenses (from Procurement/Travel/Cash Advance cards). Finance will
distribute the list as of May close to departments. Please make sure to clean them up before June close.
Any questions please contact Kimmer Swanson (315-2272).
June 11, 2013 (Tuesday)
 Payroll Suspense. Final day to submit speed-types to clear May payroll suspense items to Derick
Gavidia in the Finance Office via email.
June 14, 2013 (Friday)
 AHEC – CU Denver. This is the last day of services performed by Auraria Higher Education Center
departments that will be charged to FY13. This includes postage, telecom, events center, bookstore,
facilities management and conferences. Any AHEC items after this date will be processed in FY14.
June 20, 2013 (Thursday)
 Payroll. Monthly payroll for June posts.
 Non-employee Reimbursement (NR)/ Payment Authorization (PA)/ Study Subject Payment (SSP)
(paper forms). Final day for PSC to receive fully approved paper forms if you need the check issued by
June 30.
 Payment Vouchers (PV). Final day to submit fully approved PVs in CU Marketplace if you need the
check issued by June 30.
Vendor Invoice – Final day to submit invoices to Payable Services to ensure payment within FY13
based on vendor payment terms (typically net 30). If invoice due date is prior to or equal to June 30
2013, payment will process in FY13.
 New Vendor Set-up. Final day to provide PSC with vendor information (CU W9 or W8) to set up new
vendors in FY13.
June 21, 2013 (Friday)
 Payroll Suspense. Finance will distribute June payroll suspense items to departments.
Source: Finance Office
Page 2 of 6
As of May 3, 2013
June 24, 2013 (Monday)
 Employee Reimbursement. Final day to submit and fully approve expense reports in Concur if you
need the check issued by June 30.
June 26, 2013 (Wednesday)
 Payroll Suspense. Final day to submit speed-types to clear June monthly payroll suspense item
worksheets to Derick Gavidia via email.
 Procurement Card Expenses. Final posting of procurement card expenses in Concur directly to FY13.
Please allocate and approve all FY13 expenses by today. After today, unapproved expenses for FY 13
business will be accrued.
June 27, 2013 (Thursday)
 Payroll Expense Transfers (PET). Deadline for payroll expense transfers (PET) for all pay periods prior
to June 9, 2013. PET for FY13 should be input, saved, validated and approved by today. PET for
Funds 30 and 31 will automatically route to OGC for approval. PET for Funds 10, 20, 26, 28, 29, 34,
35 and 80 should be approved by departmental approver.
June 28, 2013 (Friday)
 Cash Receipts. Final deadline is 12:00 noon for the Bursar’s Office to receive cash receipts for June
activity. All cash received by a department prior to and including June 30 should be deposited. After
this time, cash receipts will be processed for July’s activity.
 Check Cancellations. Final deadline is 12:00 noon for requests to PSC to cancel AP checks in FY13.
 Journal Entries. Deadline is 5:00 PM for the Finance Office to receive copies of journal entries for
approval for 1st close. This includes both online journal entries and IN forms for entry by the Finance
Office. Make sure your journal entry is dated June 30 and it is clearly marked for June business. Attach
adequate backup documentation to substantiate entry (e.g. copy of statements, emails, vouchers, cost
transfer forms, etc.) and send to the Finance Office at Campus Box A005/129 or email to
Accounting.Services@ucdenver.edu. Please complete all routine, monthly journals by this date to allow
an opportunity for review of first close reports and entry of any needed final adjusting entries for second
close.
Note: You can only process Payroll Expense Transfers (PET) when the HR system is up. Refer to the PBS
payroll calendar for July to make sure you know when the HR system will be down for payroll processing.
When the HR system is down you cannot do PET. http://www.cusys.edu/pbs/hrms/ps/calendar.html
June 30, 2013 (Sunday)
 Mail Checks. All checks on hand in your department must be mailed by midnight.
 Goods and Services Received. All goods and services must be physically received by this date to be
accounted for in FY13.
 Inventory. Physical inventory of consumable goods (inventories>$35,000) completed on this date.
Kimmer Swanson (315-2272) in the Finance Office is coordinating audits of inventory counts.
 Petty Cash and Change Funds must be counted by this date. Any questions please contact Kimmer
Swanson (315-2272).
Source: Finance Office
Page 3 of 6
As of May 3, 2013
July 1, 2013 (Monday)
 Starting today… Remember to change the date on JEs and PETs to 6/30/13 if transactions need to be in
FY13 and not FY14. Online receiving, like invoice entry, is accrued according to the timeframe entered.
If the receipt is entered by July 3 end of day, it will result in accrual to FY13. If it’s entered July 4 and
later, it will be expensed in FY14 when invoice is processed.
July 3, 2013 (Wednesday)
 PO Receiving. Deadline is 5:00 PM to enter online receiving of PO items received on or prior to June
30 to ensure accrual to FY 13 by PSC.
 Paper Forms and Vendor Invoice Cutoff. Deadline is 12:00 noon for PSC to receive fully approved
paper forms (NR, PA, SSP) and PO/SPO invoices to ensure accrual to FY 13 by PSC. Invoices received
through the deadline will be assumed to be June business. Do not submit FY14 invoices until July 4.
 SPO Services/Goods Without a Corresponding Vendor Invoice. If you have received goods or services
in FY13 on a SPO but there is no invoice submitted for these items before July 3, 2013, please process
manual accrual journal entries and submit to the Finance Office by July 9, 2013.
REMEMBER: Invoices received through July 3 at Noon will be automatically accrued by the PSC – so only accrue for
activity that you have verified no invoice was sent.
 Payment Vouchers in Marketplace. Deadline is 5:00 PM to submit fully approved payment vouchers in
Marketplace to ensure accrual to FY 13 by PSC.
 Payroll Suspense. Finance will distribute any June 22 biweekly payroll suspense items to departments
for immediate response.
 First Close. First close for the campus is at 6:00 PM. Transactions submitted by the deadlines detailed
above will be posted for inclusion in this close.
 Before the July 3 deadline, do not enter PO receiving or submit PO/SPO invoices for July 2013 (FY
14) business. PSC treats any receiving and invoices submitted before the accrual deadlines as June 2013
(FY 13) business.
 Paper form/document or invoices can be submitted to PSC by email APInvoice@cu.edu (preferred),
by fax (303) 764-3434, or by campus mail to BOX 005 UCA.
July 6, 2013 (Saturday)
 Financial Reports. Cognos on-demand reports for first close available online after 8 AM.
July 8, 2013 (Monday)
 Payroll Expense Transfers (PET). Final deadline for Payroll Expense Transfers (PET) for all FY13
pay periods (including biweekly pay period ending June 22). These PET should be input, saved,
validated and approved by department approver by today; then these will post for second close. PET
for funds 30 and 31 will automatically route to OGC for approval. PET for funds 10, 20, 26, 28, 29, 34,
35 and 80 should be approved by department approver.
July 9, 2013 (Tuesday)
 Concur and Marketplace. Final accrual entries for expenses in Concur and Marketplace will be posted
today. June charges allocated before today will be accrued to the allocated speed-type; unallocated June
charges on the Procurement Card will be accrued to the cardholder’s default speed-type. Unallocated
charges on the Travel Card and the Cash Advance Card, as well as vouchers issued in response to Cash
Advance requests in Concur, will be accrued to the campus/department default speed-type.
Source: Finance Office
Page 4 of 6
As of May 3, 2013


Journal Entries. Final deadline is 5:00 PM for Finance to receive copies of journal entries for approval
for FY13. These journals should only be fiscal year close adjusting entries, not routine journals. This
includes both online journal entries and IN forms for entry by the Finance Office. Make sure your
journal entry is dated June 30 and it is clearly marked for June business. Attach adequate backup
documentation to substantiate entry (e.g. copy of statements, emails, vouchers, cost transfer forms, etc.)
and send to the Finance Office at Campus Box A005/129 or email to Accounting.Services@ucdenver.edu.
After this date, journal entries will not be accepted for FY13.
Manual Accruals. Final deadline to submit journal entries request to Finance for manual accruals, such
as…
o Accounts Receivable: Departments selling services or goods to external entities need to accrue the
related revenue and accounts receivable by this date. See policy and procedures at the following link.
http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/Fiscal/AcctsRec.pdf
Contact Kimmer Swanson at 315-2272 for help.
o Prepaid Expenses: Another possible accrual entry is prepaid expenses, which are items for which we
have paid in the old fiscal year, but we will not receive the goods or services until the new fiscal year.
The threshold to defer such items is $10,000. Contact Kyla Jones at 315-2259 for help.
o Accrued Expenses: Departments need to accrue expenses for goods or services received before
6/30/13 but not accrued by PSC due to not meeting the accrual deadlines, etc. Contact Kyla Jones
at 315-2259 for help.
July 11, 2013 (Thursday)
 Second Close. Second close for the campus is at 6:00 PM. This is the final close for UPI transactions
(Fund 80 and AEF/DEF Fund 35), subsystem feeds, and AP accruals. This is also the final close for
campus journals; after this point only high-level accruals and large corrections by the Finance and
Grants Offices may be processed. Transactions submitted by the deadlines detailed above will be posted
for inclusion in this close.
July 16, 2013 (Tuesday)
 Fund 10 Cash Transfer Out Entries. Final deadline is 5:00 PM for Finance to receive copies of cash
transfer journal entries from fund 10 to 72 for approval for FY13. This should be done at the college or
school level to minimize remaining budget available (Denver Campus) or fund balance (Anschutz
Medical Campus). Make sure your journal entry is dated June 30 and it is clearly marked for June
business. Attach supporting report and send to Finance Office at Campus Box A005/129 or email to
Accounting.Services@ucdenver.edu.
July 18, 2013 (Thursday)
 Third Close. Third close is at 6:00 PM. This is for accrual entries by Finance, OGC and designated
departments only. Campus departments will not generally be allowed to submit transactions for this
close except for material errors (>$100,000) previously approved by Finance or OGC.
July 20, 2013 (Saturday)
 Financial Reports. Cognos on-demand reports for final close available online after 8 AM.
July 22, 2013 (Monday)
 Period 998 Corrections. After this date, the Assistant Vice President/University Controller may enter
corrections. These corrections are entered in period 998. Because of this, it is important to run your
financial reports using period 998, not period 13.
Source: Finance Office
Page 5 of 6
As of May 3, 2013

Roll Forward Balances and Reversals. Beginning balances for balance sheet accounts, including cash,
should now show in the system for the new fiscal year. Prior fiscal years balances on projects should
now show in the system for the new fiscal year. Reversals of June accruals should now show in the
system for the new fiscal year.
Questions?
Fin Pro Help Desk 303-837-2161 for procurement-related questions.
Ryan Yu 315-2256 or Linda Newsome 315-2265 for any other close-related questions.
Source: Finance Office
Page 6 of 6
As of May 3, 2013