Abilene Christian
University
Memo
To:
ACU Faculty and Staff
From:
Financial Operations, Accounts Payable, and University Purchasing
Date:
April 1, 2008
Re:
Banner Fiscal Year-end Close-out Dates
As the end of the fiscal year 2008 approaches on May 31, we want to inform you of some very important
dates related to the university’s fiscal year-end. Please read and keep this information to assist in your yearend planning and purchasing. If you have any questions, please contact Yvonne Akens in Financial
Operations at ext. 2795.
The purchasing card is a terrific way to make year-end purchases. The card is intended to replace the need
for purchase orders when making operational purchases or for any travel and entertainment purchases. It is
important to note that all transactions posted to your May purchasing card statement will be fiscal year
2008 transactions (not fiscal year 2009).
This means that if you use your purchasing card to make a purchase on May 5 and it posts to your card on
May 8, it will be charged to your fiscal year 2008 budget (the one we’re currently in). Keep in mind that it
generally takes from 3 – 10 days for a credit card transaction to post to a statement. Therefore, any important
purchases that need to be charged to fiscal year 2008 should be made in the earlier part of May to avoid the
risk of being a fiscal year 2009 expense. In order to expedite quickly, please go on-line to SDOL and
reallocate your transactions no later than Friday, June 6, 2008. If your transactions are not reallocated by
this date they will automatically go to your default FOAP.
Keep in mind the following items when making purchases over the next couple of months:

Purchasing card statements for the month of May will be paid in June, but will be charged to
fiscal year 2008 budgets (the current fiscal year).

According to the ACU Purchasing Policy, purchases not made with your purchasing card require
purchase orders before items may be ordered. Purchase orders need only be submitted when
a vendor will not accept Mastercard.

Remember to make the receiving entry on Banner Form FPARCVD by May 31 for all items
received in your office. As a reminder, it is against ACU policy to receive on items you do not have.

The Campus Store and Abilene Education Supply will accept charges to ACU accounts until the
last day of May business.

Budget revisions or journal entries may be required in order to complete requisitions by the cut-off
dates. If input is required by Financial Operations, the deadline for submitting these is
Tuesday , May 13, 5:00 p.m. Please submit these to allow adequate time for the entries when
making end-of-year purchases. If you are making entries, they should be completed by May 31 at
5:00 p.m. After May 31, any entries for FY08 should be forwarded to Financial Operations by
June 4th for entering.

In some instances, an order that you intended to be paid from your fiscal year 2008 budget may
arrive before May 31, but the order may not be charged to your budget as of May 31. If this is the
case, receive on your order (using Banner Form FPARCVD), complete the Year-End Purchase
Accruals form, and return it to Financial Operations, ACU Box 29120, by June 4, 2008. Items
submitted on this form will be charged to your fiscal year 2008 budget, although invoices have not
been paid. Please note accruals are limited to expenditures over $1,000.
2008 FISCAL YEAR-END CRITICAL DATES
Tuesday, May 13, 5:00 p.m.
o
Deadline for entering requisitions to be encumbered and paid on this year’s budget. Requisitions
entered and completed after 5:00 p.m. will not be transferred to a purchase order.
o
Deadline for submitting expense reports, payment requests and travel advances to Accounts
Payable for reimbursement or payment in this fiscal year.
o
Deadline for submitting budget revisions and journal entries to Financial Operations for end of year
requisitions.
Tuesday, May 27, 11:00 a.m.
o
Deadline for submitting warehouse orders to be charged to this fiscal year. All warehouse backorders will be canceled. You will need to re-order any items on the canceled back-orders.
Thursday, May 29 through Friday, May 30
o
University Purchasing will be closed for warehouse inventory.
Monday, June 2
o
Fiscal Year 2009 budgets will be available on Banner Finance. All business for the new fiscal
year may be conducted in Banner Finance.
Wednesday, June 4
o
Deadline for returning the attached Year-End Purchase Accruals form to ACU Box 29120 to
“accrue” expenses to fiscal year 2006 for items over $1,000 received, but have not been invoiced.
Friday, June 6
o
Deadline for re-allocating the May purchasing card transactions on-line.
Thursday and Friday, June 19 and 20
o
Deadline for entering transactions is Wednesday, June 18, at 5:00 p.m. Thursday, June 19, and
Friday, June 20 are reserved for Financial Operations and Investment Services processing to close
the 2008 fiscal year.
Again, if you have any questions, contact Yvonne Akens at ext. 2795.
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