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Year-End Preparation Checklist for FY 2012: Budget Management & Encumbrance Cleanup

As the fiscal year 2012 wraps up, it's crucial to follow our year-end checklist to ensure proper budget management and encumbrance cleanup. Key actions include finalizing budgets, ensuring cash receipts are submitted on time, managing accounts payable paperwork, and addressing travel and purchase requisitions. Remember, purchase orders over $25 will roll into FY 2013, but budgets do not carry over similarly. Compliance with procedures for accruals, prepays, and necessary documentation is essential. Let's finish the year strong!

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Year-End Preparation Checklist for FY 2012: Budget Management & Encumbrance Cleanup

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  1. Preparing forTHE BIG “CLOSE” FY 2012 YEAR END

  2. YEAR-END CHECKLIST!! • CHECK BUDGETS!!!! • SPEND $$$$ • CLEAN UP OLD ENCUMBRANCES • DO IT NOW!!!!

  3. SEPTEMBER 28TH • Cash receipts in by 2:00 pm • Accounts Payable paperwork by Noon • Completed travel by Noon • PO’s ≥ $25.01 will roll to FY 2013 – BUT!! • No Change Orders to old PO’s

  4. September 28th • Bye-bye PO’s ≤ $25.00! • Bye-bye encumbrances! • Bye-bye unprocessed req’s! • Bye-bye Self Service!

  5. ROLLED PO’S • If PO > $25.01, it rolls to next years budget • BUT the budget does NOT roll with it. • Rolled PO’s use next year’s budget!!

  6. Those Crazy Accruals & Year-End Prepays • We must use budget in the year goods are received • Accruals = get the goods before we pay (uses this year’s budget) • Prepays = pay before we get it (uses next year’s budget)

  7. “ACCRUAL” – uses this year’s budget • FY 2012 BUDGET 72 010-Accrual $100 _________________ Total FY 2012 $100 • FY 2013 BUDGET 72010-Reverse (100) 72010-Payment 100 _________________ Total FY 2013 $0

  8. You received item by 9/30 but no invoice?THAT’S ACCRUAL • Send signed receiving copy to AP (now don’t lie!!) • You’ll see - “FY12 Accrual” in transaction history • You’ll see –”Reversal” in October • Paid when invoice is received • Only effect on FY12 budget is if invoice > PO

  9. Prepays – uses next year budget • FY 2012 Budget 71010 - DV/PO $100 71010 - Prepay (100) _________________ FY 2012 Total $0 • FY 2013 Budget 71010 – Prepay $100 _________________ FY 2013 Total $100

  10. Year-end Prepay Requirements • Conference registrations • Memberships • Sometimesother travel issues • Must have original invoice + 1 copy

  11. Current FY2012 Purchases • Through Sept. 14th – normal • After Sept. 14th – only “Non-Routine” purchases • Must be approved by Mr. Carlson

  12. FY 2013 Purchases • Through Sept. 14th – enter req in Banner and change transaction date to Oct. 1, 2012 • After Sept. 14th– • Complete paper req form • Budget manager must sign • Forward to Purchasing

  13. Paper Requisition Form • Show FY13 Purchase on top • Must be completely filled out: • Ship to – know what yours is • Vendor # - use FTMVEND • Complete FOAP • Supporting documents

  14. REMEMBER!Encumbrance queries – do them! You will find some $$$

  15. Traveling Sept. 28 -30th? • Email dbonds@jsu.eduwith estimated amount for ACCRUAL!

  16. Other Issues Da-da-da-dum!

  17. PURCHASINGpurchasing @jsu.edu • W-9’s – no vendor # without one – it’s an IRS requirement. • E-verify affidavit – only required for FEIN – not SSN • “See Attached List” – only for more than 5 lines; what list is for (office, lab, instructional?) • Meal Request forms – required 1 week prior to event

  18. Amendments/Change Orders • Original only – no faxes • No amendment to avoid closing • Must have line detail – which line are you amending? Fill out the entire form!

  19. Professional Services Contract • Must have Disclosure Form if more than $5,000 • Must be sent with contract

  20. PAYROLL - $$$$$ • Student Employees ~University Aid - budgeted ~Work Study – approved by FA ~Graduate Assistants – Graduate Studies • Send the little Darlings toHR HR

  21. StudentPayroll • BA Form #56 or Students won’t get paid • Student PR: they must sign timesheets or new form to certify hours

  22. Use this form • JACKSONVILLE STATE UNIVERSITY • Jacksonville, Alabama • MEMO TO: Payroll Office • FROM: _________________ • SUBJECT: Student Payroll – Certification of Hours Worked • _____________________________________ will not be here after _________________ • because ________________________________________________________________. • Therefore, he/she will not be able to sign the student payroll time sheet. This memo is to certify that he/she worked __________ hours from ___________________ through ____________________. These hours will be recorded on the time sheet when it is received. Attach memo to time sheet and return to payroll office by due date. • _________________________________ • Supervisor Date • _________________________________ • Student Date

  23. Let’s Talk….. • FTMVEND – case sensitive • Direct Deposit for Employee travel/other reimbursements • FGIENCD – one-stop encumbrance shop • View Document – USE IT!!!! • Bids sent electronically now

  24. ???QUESTIONS???

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