FY 2012 CLOSING PROCEDURES

1. FY 2012 CLOSING PROCEDURES

2. Fiscal Year 2012 Cut-Off Dates For expenditures to be reflected in the FY2012 budget, the goods or services ordered must be received on campus on or before April 30, 2012. All documents received by the May 10, 2012 cut off time will be included on the April 2012 General Ledgers

3. IMPORTANT DATES • February 29, 2012 Closing Memo • March 5, 2012 Open PO letter to Depts. • April 13, 2012 Last day to submit reqs. Last day to order W B Mason * Last day to use P-Card* • April 30, 2012 End of the Fiscal Year • April 30, 2012 All Accruals submitted to Accounts Payable • May 1, 2012 First Day to enter FY2012 requisitions *NOTE: If you use your P-Card or order from WB Mason after the 13th, we cannot guarantee which year the charges will be processed

4. IMPORTANT DATES • May 10, 2012 AP Documents are Due Disbursement Request Travel Expense Forms Petty Cash Invoices • May 10, 2012 JE Corrections Due Cash Receipts Due at Cashier’s FY Gifts to Development

5. IMPORTANT DATES • May 14, 2012 First Closing • May 21, 2012 Second Closing

6. Accrued Expenses & General Guidelines Accrued Expenses are obligations to pay for goods and services That have been received or supplied but not yet invoiced to the University. A typical example would be professional services Which are not billed until the following month but can be readily estimated. Our purpose is to accurately reflect in the University’s financial statements All expenses applicable to the fiscal year. Accrued Expenses requests including documentation must be submitted By May 10, 2012 to: General Budgeted Accounts – Cheryl Chappin -#2852 Sponsored Programs – Jesus Adame - #8873 Construction Contracts – Ralph Castiglione - #1116

7. Accrued Expenses & General Guidelines

8. OPEN PURCHASE ORDERS • Review open PO list to verify goods are on order • Notify Purchasing for those PO’s waiting invoices • All purchase orders are closed end of day May 10 • All Blanket Orders are closed end of day May 10

9. P-Cards, Staples, Travel Card & Travel Agents • Last Day to Charge on your P-Card is April 13, 2012 • After that date – cannot guarantee the charge will be on FY 2012 Ledgers • End of Billing Date – April 22nd • All charges must be posted by that date • P-Card • Travel Card • WB Mason • Travel Agents

10. Requisitions • All requisitions for goods and services for delivery by April 30, 2012 must be entered into Datatel by April 13, 2012 • NOTE - If item requested WILL NOT ARRIVE by April 30, 2012, Purchasing WILL NOT PROCESS a purchase order from the requisition. • Please plan accordingly • FY 2013 Requisitions can be entered in Datatel on May 1,2012 • All requisition entered into Datatel after April 13, 2012 for this fiscal year (FY12) will be canceled • All requisitions entered into Datatel before May 1, 2012 for purchase orders for FY 13 will be canceled

11. Accruals • Received but not invoiced • Send e-mail for PO accruals on operating accounts to Cheryl Chappin (cchap@american.edu ) by April 30, 2012 • and cc: • Michael Harris (maharr@american.edu) • Hallie Porter (hporter@american.eduIf no email is received – charges will be posted on the FY2013 ledgers when invoices are presented for payment. • Send email for PO accruals for Federal Funds and Capital Equipment to: • Federal Funds- Jesus Adame (adame@american.edu) • CIP Accounts – Shannon Floyd floyd@american.edu)