Year-End 2014 Special Session

Year-End 2014Special Session Last Updated: May 12, 2014

Year End • This session will: • Provide important information designed to educate departments on year end processes • Information is provided from the view point of the following critical business offices: • Budgets • Accounting • Purchasing

Accounting – Deficit Fund Balances • Review funds with deficit fund and cash balances (negative/credit) starting on June 1 of the fiscal year. • All deficit balances should be cleared no later than June 20. • Fund deficit balance from another source • Move an expense that caused deficit balance to another fund • This applies mainly to Trust funds, which are not state appropriated funds.

Accounting – Small Balances • Funds with small balances and little activity may need to be closed • Review your funds with small balances and inactivity. Determine if they need to be closed for the upcoming Fiscal Year. • Funds with balances will require a journal entry to move balance to another fund. • Funds cannot be closed with a Fund Balance • Refer to General Accounting’s Year-End (Month-end June) calendars for specific JE cutoff dates. • Terminate funds via Banner Fund Change Request Form

Accounting – Change Funds • Reminder letters will be mailed to departments with change funds. • Change funds must be counted and verified by 11:00 am Friday, June 20. • Count verification form included in mailing • Must be signed by custodian • Custodian information must always be up-to-date.

Accounting – Petty Cash • Expenses must be recorded at year end. • All money and expenditure documentation must be turned in to General Accounting before 11:00 am Friday, June 20. • Department may request money for upcoming Fiscal year, issued July 1. • Custodian information must always be up-to-date.

Accounting – IDI’s and JE’s • All Interdepartmental Invoices to be paid from FY funds must be received in Accounting before 11:00 am Friday, June 20. • Decentralized Feeds cut-off Friday, June 20. • Journal Entries • MUST be received by 12:00 pm Wednesday, June 25.

Accounting – Check Requests • Goal is to pay all expenses that occurred within current FY in that same FY. • General funds • Subscriptions purchased at FY End will only be paid with General Funds if there is NOT currently an existing subscription • Certain registrations may not be paid if for the next FY

Accounting – Check Requests • Deadline • 10:45 am Friday, June 20 • Check requests will be processed only if ALL approvals and required documentation are in order.

Accounting – External Billing • All External Invoices for FY 2014 • Budget Authority must submit to billing (by using the SUBMIT button on the external invoice form) before 5:00pm on Thursday, June 26th. • This includes all invoices that are for services rendered through June 30, 2014. • Invoice description must reference date service was provided to ensure inclusion in correct fiscal year.

Accounting – Travel • ALL travel in current Fiscal Year should be RECEIVED for payment by 5:00 pm Thursday, June 19. • Purchasing Airfare from our travel Agencies concludes 5:00 pm Wednesday, June 18. • Purchases made with the UNCW Visa Travel Card must be posted by Wednesday, June 18thto be paid out of the FY 2013-2014 budget.

Accounting – Contact Us • Controller’s Website • http://www.uncw.edu/controller/ • Look for Year End Documentation for 2014 with specific contact information here: • Under Important Dates on the General Accounting Webpage. • Under Year End Deadlines on the Controller’s Office Webpage.

Budget Office – Negative Budget Lines • For year end close, general funds and trust funds must be positive in total • Salary lines must be positive • Operating lines can be negative but must be positive in total

Budget Office – Budget Revisions • SRCI budget revisions – flex’s • General funds only • Salaries, benefits, contracted services, between programs • Budget Office revisions • Increase revenue in trust funds • Operating to salary (or salary to operating) in trust funds only • On line budget revisions • No pennies • Don’t cross program codes • Use default org codes

Budget Office - Overrides • Current year requisitions • Budgeted funds are required to move budget to cover requisitions • Special circumstances require detailed explanation and Budget Officer approval • Unbudgeted funds, cash must have been deposited • Future requisitions • Require email request to Budget Office including: • Requisition number • Funding source • amount

Budget Office – Time Limited Positions • HR 3.30’s are required for all time limited positions that will continue into the new year • Due to Budget Office June 1st • No more than 3 years • General funds positions • SRCI flex • Time limited certification • Trust funds • Include position funding in budget package

Budget Office – Budget Rolls • General funds operating roll • Continuation or permanent budget • June 1st • Carry forward • 2.5 % of University appropriation • Not always allowed by the governor

Budget Office – Budget Rolls (Cont.) • Special funds (budgeted trust) • Departments build budgets Jan – May • Approved by Budget Director May – June • Unbudgeted trusts • Ending cash balance is rolled to new year as 109970 budget entry • Mid to late July • Position roll • Late June

Purchasing Year End

Purchasing - Receiving • Receiving and invoices required for payment by June 20th • Receiving must be completed in uShop as soon as goods/services received • Do not enter receiving if goods/services not received

Purchasing - Invoices • All invoices must be sent to Accounts Payable for payment processing by 10:45 am on June 20th • May email to accountspayable@uncw.edu • Departments needing copies of invoices for files – make copy before forwarding to Accounts Payable

Purchasing - Encumbrances • Purchasing Responsibilities • Expediting for delivery of as many PO’s as possible by June 20th deadline • Reviewing and processing PO cancellation and liquidation requests • Processing current year PO’s using non-general funds for emergencies and research • Processing Future PO’s • Identifying PO’s with “0” balances for closure • Identifying PO’s with remaining balances for closure and liquidation

Purchasing - Encumbrances • Departmental Responsibilities • Monitor for PO’s with open encumbrances • Needs receiving • Needs invoice • Order Complete, need to close and liquidate • Email or Comment on PO to: purchasing@uncw.edu • Reports To Use • Banner • FGIENCD • FOIDOCH • SSRS • Open Encumbrance Report – Financial Reports>Campus Reports>Reconcilliation Reports>Open Encumbrances

Purchasing – uShop Year End Saved Reports

Purchasing – uShopYear End Saved Reports Open the YEAR END folder To run the report – Click on the report Name Additional Filtering can be applied from the report screen

Purchasing - Encumbrances • Standing Orders • Departments need to submit invoices prior to June 20th to Accounts Payable • Purchasing will liquidate all orders with Delivery Date June 30 or prior before Year-End Roll • Purchasing will rollover Orders with Delivery Date after June 30 • Delivery Date based upon “time period” as specified on Standing Order Form

Purchasing – Future Requisitions • Future Requisition • Special needs requiring early July delivery • Must be ordered prior to July 1 • Will be received after July 1 • Accounting Date in uShop needs to be changed to July 1, 2014 • Will be processed on a case-by-case basis

Purchasing – Key Items Key Items for Year –End Procurements • Catalog items from Staples, GovConnection, CDWG, etc. • Avoid items tagged “Check for availability” or “Call for Availability” as they are usually limited in supply or out of stock • Software licenses (Adobe) and renewals;

Purchasing – Key Items Key Items for Year –End Procurements • Office, Teaching and Research Supplies • Dell and Apple iPads are currently available; order before May 24th . • Apple computers continue to require longer lead times and may not be delivered before year-end.

Purchasing – Key Items Key Items for Year –End Procurements • Office Furniture -Contact Frieda Antrican for details:Order seating before May 25th. • Task Chairs from Sit-on-It ( “Amplify”, “Torsa”, “Focus”) • Side/ Guest chairs from Sit-on –It (“Focus”, “Freelance”, “Swirl” and “Relay”) • KI “Impress Ultra” task chair as well as some tables • Lounge furniture from KI, depending on fabrics. Order by May 20th.

Purchasing – Purchasing Card • P-Card cycle ends June 9th • Recommended last day for use is June 1st • For further information on Year-End: http://www.uncw.edu/finance/YearEnd_Info.html or http://www.uncw.edu/purchasing/PurchasingYear-EndInformation.html

Year-End 2014 Special Session