Fis c al Ye ar End Training
2016


Agenda
• Year End Close Tasks and Timelines
• Prepaid and Accrual forms
• Other Deadlines
• Resources
• UBS Contacts
• Question & Answer


Year End Close Tasks
• Ensure positive cash & fund balances
• Record and pay claims
• Purchasing Card
• Cash receipts
• Autobills
• Property Management
• Journal entries & Corrections
• Other


Ensure positive cash & fund balances
•

Begin reviewing negative balances 5/31/16

•

Utility auto bill for May processed by

•

Request for Foundation reimbursement
due to Foundation office 6/20/16

VP, UBS, Depts

6/20/16

Facilitites

Departments

•

Cutoff for financial aid disbursements

•

Deadline - all balances positive

•

Check runs suspended

6/25-6/30/16

UBS/Systems


•

X-feeds suspended

6/25-6/30/16

UBS/Systems/Depts

•

Final review of cash balances 6/30/16

•

Final adjustments to cash balances6/30/16

•

Feed J une telephone bill 7/08/16

•

Outside Checking Accounts Reconciled
and provided to UBS

6/20/16

6/20/16


Financial Aid

Departments

VP/Other
Departments, UBS

ITC

7/11/16

Depts, Agencies, UBS


Record and pay claims (BPAs)
• Petty cash reimbursements due to UBS 6/17/16Departments
• Departments submit final FY16 BPA Claims

6/30/16Departments

• All POs in Banner 3 pm 6/30/16Procurement
• Computer & Student Equip Fees Spent 6/30/16Departments
• AES, ES, FSTS submit final FY16 BPA Claims 7/05/16AES, ES, FSTS
• Final FY16 claims entered for 6/30 invoices

7/08/16Accts Payable

• Final FY16 claims released for 6/30 invoices 7/11/16Accts Payable
• Transmit final FY16 claims to SABHRS 7/11/16Systems
• Final IDC run, Admin Fee, Final term pool, E-Scrap 7/11/16OSP, UBS

• Ag Revenue Fee 7/11/16College of Ag
• Run Procurement encumbrance roll, salary 7/11/16Systems
encumbrance roll, and GL roll once payroll has posted


Purchasing Card
•

Verify 62886 p-card clearing account has a zero
Balance through May / complete corrections

6/10/16

Departments

•

Purchasing card transaction cutoff (1st) 6/21/16

Accounting

•

See charges through 6/21 in Banner

Departments

•

Charges feed to Banner 6/24/16


•

Purchasing card transaction cutoff (2nd) 6/30/16

•

See 6/22-6/29 charges in Banner 7/01/16

•

See 6/30 charges in Banner 7/02/16

Departments

•

Charges (6/22-6/30) feed to Banner

7/06/16

•

Verify 62886 p-card clearing account has a zero

6/23/16

Systems

Accounting


Departments

balance through J une / complete corrections

Systems

7/07/16

Departments

(Corrections to UBS or Department - be s ure to c hang e JD1 date to 6/30!)


Final Cash Receipts
•

Submit cash receipts by 11am 6/30/16 Departments

•

Credit card receipts by 10am

•

Cash receipts after 11am, accrue FY16 6/30/16 Accounting, Depts

•

Credit card receipts after 10am for 6/30 7/01/16 Accounting, Depts


6/30/16 Departments

manual & virtual terminals, accrue FY16

•

Commerce manager, echeck, Webpay
EOD for 6/30 need to accrue 7/01/16 Accounting


Autobills
•

Autobills for outside vendors to date to UBS

6/13/16

Departments

(Example: Bookstore, Foundation)

•

UBS feeds outside vendor autobills to Banner

6/16/16

UBS, Systems


•

Final autobills for outside vendors due to UBS

7/01/16

Departments

•

Cat Card final redistribution

•

Feed final FY16 autobills (change date to 6/30) 7/08/16

•

Last day for dept to dept X-feeds

7/06/16

RLUFS

7/08/16

UBS, Systems

Departments



Property Management
•

Capital inventory verification 4/27/16

•

Minor & sensitive inventory reports to UBS

4/27/16

•

Donated asset response to UBS

Depts, Prop Mgmt

•

Capital Items (including ‘intent to fabricate’ items) for J une and J une 13th month Pcard
reports:

–

Depts, Prop Mgmt

6/17/16

Depts, Prop Mgmt


Please scan a copy all backup documentation as soon as you receive it to Kenny Baese and
Christina Fournier for entry into the Fixed Asset system. These items will need to be entered
for FYE prior to completed pcard report submission to UBS.


Journal Entries & Corrections
•

Correction memos due to UBS (corrections through May) 6/15/16

Depts, HR, OSP

(Corrections through J une due to UBS 7/6/16)
•

Final warrant cancellations due to UBS 6/15/16

•

Prepaids due to UBS 6/30/16

•

Accruals (Expense & Revenue) due to UBS

7/07/16

Departments


•

Submit unearned (deferred) revenue items

7/07/16

Accounting, Depts

•

J D1s, J G1s final in Banner (bac kdate to 6/30 fo r e ntry afte r 7/1!)

•

Compensated absences entry

•

Initiate IUJ s to other agencies to UBS (DPHHS 7/6/16)

•

Answer IUJ s on SABHRS (actual 7/24) 7/18/16

Accounting

•

Procurement encumbrance roll, salary


Systems

Depts, HR, OSP

Departments

7/08/16

7/08/16

Depts, OSP

Accounting, HR

7/11/16

encumbrance roll, and GL roll once payroll has posted

7/08/16

Depts, Acctg




Other Deadlines
• Procurement
• ITC
• HR/Payroll
• Costco

• Leases


Procurement
•

Requisitions exceeding $500,000 will need to go through the State, as MSU cannot spend over this amount within
its delegated authority.  If you have something of this magnitude on the horizon, please contact Laura Humberger
at x4361, immediately.

•

Other requisitions (valued under $500,000) need to be turned in to Procurement Services according to the following
timetable to ensure adequate time for bids to be awarded:

•

–

Procurements that require the Request for Proposal process (criteria other than low cost): Friday, March 18th

–

Procurements that require the Invitation for Bid process (awarded to low cost alone): Friday, May 20th. 

–

Procurements that do not require a competitive process (i.e. Sole Source, procurement exempt, etc.): Friday, June 10th.

Remember that although FY16 purchases will take priority, these deadlines only apply to procurements that must

use FY16 funding.  If you have procurements with FY17 funding you can continue to submit as normal (see below).
Please indicate clearly on your purchase requisition the funding year, as this will help us ensure prompt processing.

Use of competitive bids and all other State requirements must be followed even during year end.


ITC Purchasing Support
•

Orders placed by 6/10 should be received and autobilled by 6/30

•

Orders placed by 6/23 that are not received by J une 30 will be accrued by ITC for the
department according to accrual guidelines

•

Orders placed after 6/23 (6/24-6/30) will be expenditures for FY17

•

IT Purchasing support webpage:

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HR / Payroll Information
•

Summer salary tail info (6/11 payroll)


6/09/16

•

Salary correction memos due

6/20/16

HR

•

Summer salary tail info

6/24/16

HR

HR

(J une supplemental payroll)
•

J une Salaries to Finance

7/07/16

HR


•

Bring salary encumbrance to zero

7/08/16

Budget

•

Final payroll correction J Vs

7/11/16

Acctg, HR

•

OSP xfeed for benefit pool entries

7/11/16

OSP

•

Feed payroll adjustment info

7/11/16


HR


Costco Purchases
•

Last day to charge at Costco for June

6/21/16

Departments

•

Documentation to UBS by noon

6/22/16

Departments

•

Purchases made after June 21st will be expensed in FY17

•

If you do make a large FY16 purchase at Costco after June 21st, please contact Tanya
Arrington X3345 and it may be accrued



Leases
• Please advise UBS if you have any leases of land or
equipment by 6/13/16.
• Send a copy of the PO and/or lease agreement to
one of the following staff:
– Tanya X3345 for land leases and equipment leases under $5,000
– Loreen X1956 for copier leases and equipment leases over $5,000

• If you are unsure, please call Tanya X3345 to discuss



FY 2017 Begins
•

IDCs begin for FY17
7/12/16

OSP

•

Admin fees for FY17 begin calculating

•

Accept 2017 claims, begin processing
7/14/16

•


UBS

FY17 Budgets into Banner
7/15-7/22/16 Budget Office

•

FY17 begins for Accounting
7/26/16

•

UBS

Reverse all accruals & deferrals
7/26/16 Accounting

•

Record prepaids as expense
7/26/16 Accounting, Systems

7/12/16

OSP


Resources
Departmental Checklist / FYE Close Letter / Year End Forms

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UBS Questions

994-3653


UBS Contact Info
Tanya Arrington

X3345

Accounting

Christina Fournier

X3653

UBS Help, Prop Mgmt

Sarah Gorlitz-Burk

X6411

Accounts Payable

Andrea Gullickson

X5727

Purchasing Card


Lynne Hendrickson

X5739

Accounts Payable

Katie Matzinger

X7508

Accounting, Director


Questions & Comments