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FY16 Year End Training Powerpoint Presentation

FISCAL YEAR END INFORMATION-FY16

This site is intended to provide information that will assist your department with a smooth fiscal year-end closing.  Your assistance is greatly appreciated. 

You will notice these dates are much more expedient than in the past.  This is due to a change mandated by the State of Kansas - Department of Administration beginning in FY13 that eliminated concurrent processing at fiscal year-end.  We sincerely appreciate your cooperation. The various deadlines are important as there are several processes items must go through once they arrive at the Business Office. If you have any questions you may contact Barbara Winter at 4152, Misty Button at 4150, or Don Hartshorn at 4153.

CORRECTIONS & UNIT BALANCES:   Please review your units for any corrections or changes in funding.  Transactions may be reviewed through GL.LOOK or monthly unit reports.  It is recommended that the account reconciler do a regular review of transactions as they post.  This will allow issues to be addressed quickly as they arise.   Please have any corrections or changes for FY16 to the Business Office by NOON on June 9, 2016.

PURCHASING/GORILLA MARKETPLACE: 

The Purchasing Office web site provides information about deadlines and procedures regarding the procurement card, DPR's, and purchase orders.

  • Pay Vendor (DPR):  Use the Pay Vendor form to request an AP check for payment of goods and services that have already been received.  FY16 Pay Vendor requests will be accepted through 6/30/16. These will be vouchered in FY 16.

    All payments that need to be paid (check printed or ACH) by June 30 must be received (approved in GM) by 6/20/16.  Please remember that forms submitted through Gorilla Marketplace must complete the workflow process, including all approvals, to be accepted as a valid FY16 payment request.  

    It is imperative that department's get Pay Vendor requests through Gorilla Marketplace by 06/20/16 so that the Business Office will have time to get the requests vouchered and into the SMART system by the State’s June 23rd deadline.  If the transaction is not vouchered by that date, it will be an outstanding purchase order/encumbrance for FY16 and paid in July thus the vendor will not receive payment by 6/30.

  • Travel Reimbursements/ DA-121 claims: All travel claims for FY16 should be submitted to the Business Office no later than 4:00p.m. on 6/27/16.  All travel involving a travel advance must be processed by 6/10/16 so that the advance can be reimbursed by 6/17/16.  

    If travel is complete with the appropriate documentation, and you can get all approvals in GM by 6/27/16 at 4:30, use the Pay Vendor form with actual expenses. 

    If travel is not complete and/or you cannot  get all documentation completed in GM by 6/27/16 at 4:30, then complete the transaction in GM using the Encumber Funds form with estimated expenses.

  • Send PO to Vendor:  Use the “Send PO to Vendor” link in Gorilla Marketplace to send a hard copy purchase order to a vendor.
  • PCard Entry/Reconciliation (BPC):  The PCard Entry Form is used to enter and approve funding on PCard transactions that are made outside the Gorilla Marketplace.   These transactions should be entered and reconciled as quickly as possible to allow audit and posting of the transactions.  All procurement card transactions and supporting documents for the June 3rd billing statement must be to the Purchasing Office by 4:30 p.m. on 6/7/16.  Remember all charges posted to the BPC on or after June 4th will require FY17 funding, EXCEPT FOR FOUNDATION FUNDED BPC TRANSACTIONS.  FOUNDATION FUNDED BPC TRANSACTIONS WILL USE FY16 FUNDS UNTIL 6/30/16.

  • Encumber Funds:  An encumbrance is used at the end of the fiscal year to record obligations that have been incurred during the year but will not be paid before the close of the fiscal year.  If you have any expenses for FY16 that you will not receive and/or pay until after 7/1/16, please complete the Encumber Funds form with the estimated charges including freight by June 30th.  Please remember that forms submitted through Gorilla Marketplace must complete the workflow process, including all approvals, to be accepted as a valid FY 16 purchase order/encumbrance.   The Encumber Funds form in Gorilla Marketplace will be available through 4:30 p.m. on 6/30/16.

     

Do Not use the Encumber Funds form if:

  • Vendor requires a purchase order or you have already completed a purchase order for this transaction, as funds are encumbered when the order is placed.
  • Payment is to be made by P-Card.  
  • Payment is for an on-campus service (i.e., phone, postage, printing, etc.).

Do use the Encumber Funds form if:

  • Funds are to be encumbered NOW for vendor payment LATER by CHECK for goods and services.
  • You are committing FY16 funds (have placed an order with a vendor or have signed a contract with a service provider by 6/30/16) with the understanding that goods or services will be received on or after 7/1/16.

Listed below are some general guidelines for determination of the appropriate fiscal year for some common departmental expenditures.

  • Utilities - Fiscal year is determined by the ending date of service.
  • Travel - Fiscal year is determined by the date that the segment of travel took place. In cases of consecutive travel that begins in the old fiscal year and ends in the new fiscal year, the entire cost may be charged to the new fiscal year.
  • Dues, Memberships and Subscriptions - Fiscal year determination is the beginning date of the membership or subscription period.
  • Professional Services - Fiscal year is determined by the date that the services were rendered.
  • Other Contractual Services - Fiscal year is determined by the date that the services were provided.

 

New Vendors:  Any orders to be paid/encumbered to a new vendor requiring setup in the vendor file must be turned in with a completed W-9 by 06/10/16 to allow time for processing.  Any questions concerning vendors should be directed to Shari Saia in the Purchasing Office at Ext. 4167. 

SERVICE CLEARING: The Business Office will need all clearings by 12:00 p.m. Friday, June 10th.  All clearing charges will be posted and visible on your units by 06/20/16. 

DEPOSITS: All receipts or collections received and/or dated in June must be deposited BEFORE 11 a.m., Friday, June 17, 2016.

CHANGE FUNDS: All change funds must be returned to their authorized amounts by 06/30/16.

  1. If your change fund is "long": Deposit the accumulated overage as your last receipt for the year. Use source code 459090 with the description; "Write off accumulated overage."
  2. If your change fund is "short": Prepare a requisition by June 10th, 2016 on a paper DPR payable to your change fund in the amount of the accumulated shortage. Use the description "To restore change fund for shortage accumulated as of 06/10/16." Send a copy of the change fund reconciliation to the Business Office as your invoice and a copy to the Cashiers & Student Accounts Office.
  3. Send an additional photocopy of your final daily deposit from the year to the Cashiers & Student Accounts Office. This will be a total of 1 original and 2 copies as opposed to the normal 1 original and 1 copy that is usually sent to the Cashiers & Student Accounts Office. 
  4. Complete and attach the DA-75, Reconciliation of Change Fund, with your cash counts as of 06/30/16. Please return the DA-75 as soon as possible to the Cashiers & Student Accounts Office as they will need to be forwarded to Accounts & Reports in Topeka.

We sincerely appreciate your cooperation. The various deadlines are important as there are several processes items must go through once they arrive at the Business/Cashiers Office. If you have any questions you may contact Barbara Winter at 4152, Misty Button at 4150, or Don Hartshorn at 4153.