Pittsburg State University YEAR END INFORMATION USEFUL REPORTS Unit Reports Budget Status Transactions and Balances Outstanding Orders Monthly reports that capture balances and transactions for.
Download ReportTranscript Pittsburg State University YEAR END INFORMATION USEFUL REPORTS Unit Reports Budget Status Transactions and Balances Outstanding Orders Monthly reports that capture balances and transactions for.
Pittsburg State University YEAR END INFORMATION USEFUL REPORTS Unit Reports Budget Status Transactions and Balances Outstanding Orders Monthly reports that capture balances and transactions for a month. Preliminary June Weekly (June 6) USEFUL REPORTS GL Look Current ‘snapshot’ as of today. CORRECTIONS AND UNIT BALANCES Review your unit transactions and balance Review transactions as they post (GL Look) Post to correct funding source in initial transaction Weekly Preliminary Unit Reports for June (starting June 6) Any corrections or changes for FY15 to the Business Office by NOON on June 11, 2015. If you are close to the deadline….Please don’t use CAMPUS MAIL! YEAR END INFORMATION Cashiers Deposits Refunds Change Funds Purchasing Advancement Services Foundation Revenue Foundation Expenses Gorilla Marketplace Forms Pay Vendor Encumber Funds Bids New Vendor Setups BPC Reconciliation Business Office Travel Encumbering Funds Service Clearings Grant DATES TO REMEMBER FOR DEPOSITS Last day for fiscal year 2015 deposits June 18, 2015 at 2:30 PM Deposits processed in the Cashiers and Student Accounts Office after June 18th will be dated fiscal year 2016. DATES TO REMEMBER FOR DEPOSITS Deposits processed in the Cashiers and Student Accounts Office on Fridays after May 9th will be dated the following Monday. Please check your receipts and unit reports if you are not sure what date your deposit transaction was “effective dated”. REFUNDS – OVERPAYMENTS FOR SERVICES If you need to return money that someone overpaid for goods or services (Transcripts, CARES, application for admission, etc.) If someone cancels an event registration and you authorize a refund of the registration fee Forward your request to Don Hartshorn by June 17th at 3:30 PM. CHANGE FUNDS Complete a DA-75 Reconciliation of Change Fund as of June 30, 2015 Your change fund must be intact at June 30th, restore any shortage or deposit any overage by June 18th Send your completed form to Lyndy Little FOUNDATION REVENUE The Foundation operates under different accounting rules which are different from the University’s rules. (FASB vs. GASB) Revenue received on or before June 30, 2015 must be recognized in FY15. All revenue should be brought to the Office of Advancement Services by noon on Tuesday, 06/30/15. All revenue that is received by June 30, 2015 will ultimately be posted as a FY15 transaction. Revenue will post initially in FY16. In the “Revenue” column of the 07/31/15 Transactions and Balances report, you will see the original positive transaction posted as a cash receipt. Then you will see a journal entry that will be a negative transaction amount in the “Revenue” column. The two transactions net to $0. In the FINAL 06/30/15 Transactions and Balances report for FY15, you will have the transaction posted as a positive amount in the “Revenue” column. This will be posted by journal entry. FOUNDATION EXPENSES The Foundation operates under different accounting rules which are different from the University’s rules. (FASB vs. GASB) Expenses incurred on or before June 30, 2015 must be recognized in FY15. In the 07/31/15 Transactions and Balances report, you will have the initial positive transaction that automatically posted and then you will have a negative transaction in the “Payments” column that the Foundation will manually reverse. The two transactions net to $0. In the FINAL 06/30/15 Transactions and Balances report, you will have the transaction posted as a positive amount in the “Payments” column. Typically, the description will reference “accrue” or “accr”. July BPC statement transactions will post either to FY15 or FY16 depending upon the transaction date. Those transacted 6/30/15 or before will be in the FY15 reports. Transactions on or after 7/1/15 will post in FY16 reports. PURCHASING/GORILLA MARKETPLACE Pay Vendor : Use the Pay Vendor form to request an AP check for payment of goods and services that have already been received and for travel for trips that will be completed in FY15. FY15 Pay Vendor requests will be accepted through 6/30/15. To ensure payment is processed (ie. Check is mailed, ACH is initiated) prior to June 30, FY 15 Pay Vendor requests should be completed by 6/19/15. Please remember that forms submitted through Gorilla Marketplace must complete the workflow process, including all approvals, to be accepted as a valid FY 15 payment request. 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 06/10/15 to allow time for processing. You can enter a vendor name as New Vendor and attach the vendor’s W-9 to a “Pay Vendor” form, or use the “New Vendor” form on Gorilla Marketplace. Any questions concerning vendors should be directed to the Purchasing Office at Ext. 4155 or 4167. BIDDING PROCESS Bids under $25,000 - submit paperwork by June 1, 2015 Bids $25,000 and above – contact Joe Ensch at 235-4169 SEND PO TO VENDOR Use the “Send PO to Vendor” link in Gorilla Marketplace to send a hard copy purchase order to a vendor. (This will encumber these funds for this purchase.) ENCUMBER FUNDS FORM 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 FY15 that you will not receive and/or pay until after 7/1/15, 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 15 purchase order/encumbrance. RECEIPT OF PURCHASE ORDER/ENCUMBRANCE This process is required to notify the Business Office that the product has been invoiced, received, verifies the actual amount due, and the PO or encumbrance is ready to be paid. Go to search documents Click on "my purchase orders" Click on the Purchase Order number you need to receipt in Click on “comments” tab Type in comment and attach invoice and click “Add Comment” Click on the drop down for "Available Actions" Click on "Create Cost Receipt" and click "Go" Note: The "Cost" box will pre-populate with the balance remaining on the PO If this is a partial payment or the total invoiced amount does not match the PO, change the amount In the "Cost" box to match the attached invoice. Click on "Save Updates" button Click on "Complete" button - Receipt Number will be generated for PO 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. Remember all charges posted to the BPC on or after June 4th will require FY16 funding; with exception to Foundation funds. All procurement card entries, with all supporting attachments, for the June 3rd billing statement must be to the Purchasing Office by 4:30 p.m. on 6/08/15 PCARD ENTRY/RECONCILIATION (BPC) These transactions should be entered and reconciled as quickly as possible to allow audit and posting of the transactions by the Business Office prior to 06/16/15 Charges to BPC made by 6/30/15 to be paid out of Foundation accounts will post to FY15, regardless of which “statement” period the transaction falls. TRAVEL TRAVEL ADVANCES: All travel involving a travel advance must be processed by 6/15/15 so that the advance can be reimbursed by 6/17/15. If unable to complete a travel claim, please contact Kim Wilson in the Business Office - Ext. 4168. Travel Claims should be submitted by June 26th. If travel is complete with the appropriate documentation, and you can get all approvals in GM by 6/26/15 at 4:30, use the Pay Vendor form. If travel is not complete and/or you cannot get all documentation completed in GM by 6/26/15 at 4:30, then complete the transaction in GM using the Encumber Funds form. ENCUMBERING FUNDS 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 FY15 funds (have placed an order with a vendor or have signed a contract with a service provider by 6/30/15) with the understanding that goods or services will be received on or after 7/1/15. ENCUMBERING FUNDS General guidelines for determining the appropriate fiscal year for common departmental expenditures. Utilities – FY determined by the ending date of service. Travel – FY determined by the date that the segment of travel took place. In cases of consecutive travel that begins in the old FY and ends in the new FY, the entire cost may be charged to the new FY. Dues, Memberships and Subscriptions – FY determination is beginning date of the membership or subscription period. Professional Services – FY is determined by date that services were rendered. Other Contractual Services – FY is determined by the date that the services were provided. SERVICE CLEARINGS All clearings will be cutoff and submitted by 12:00 p.m. Friday, June 12th. All clearing charges will be posted and visible on unit reports by 06/22/15. GRANTS Follow project budget for grant period, not fiscal year Often carry negative balance. At year end, Business Office attempts to mitigate negative balances with grant draws. Indirect Overhead is charged to grant accounts based on fiscal year spending. YEAR END DATES TO REMEMBER: JUNE 3 Indirect overhead will be calculated and charged to grants. 6 June PRELIMINARY unit reports available weekly until year-end (dated June 6, 13, 20, 27, 30) 8 All P-card transactions with statement ending 6/3/15 must be reconciled by 4:30pm. 11 All negative unit balances must be covered by noon. Voucher corrections involving State funding done by the Business Office by 4:00pm. 12 Service Clearings cutoff -Telephone, Physical Plant, Audio Visual, Car Pool, Duplicating & Printing, Postage, & Engraving – to Business Office by 12:00 pm. Imprest cutoff - No Imprest until FY16 (travel loans, emergency purch). All Foundation Commerce procurement card logs must be completed and turned in to the appropriate office. YEAR END DATES TO REMEMBER JUNE 11 Final Fee Distribution for FY 15. 15 All travel loan reimbursements must be in process. 16 BPC & Clearings should be posted to GL LOOK. 17 State accounts reimbursed for Local Payroll (Foundation, Student Center, Student Activity, etc.) 18 ALL DEPOSITS to Cashiers Office BY 2:30pm. 19 All payments that need to be paid (check printed or ACH) by June 30 must be received (approved in GM). These will be vouchered in FY 15. 24 All FY15 STATE PAYMENTS must be transmitted to Topeka by 5:00 pm. 30 All FY15 Pay Vendor requests, to be paid after July 1, must be in Gorilla Marketplace AND APPROVED by 4:30 pm. NO EXCEPTIONS. These funds will be encumbered and listed as outstanding orders on your June 30 reports. DURING THIS PERIOD OF TIME DOCUMENTS SHOULD NOT BE PUT INTO CAMPUS MAIL-WE DO NOT GUARANTEE THEIR ARRIVAL OR PROCESSING DATES TO REMEMBER JULY 1 First day to process FY16 payments 6 First day to process FY15 payments on encumbrances 22 June Final Unit Reports 27 IBM shut down - FY15 Year End Close AUGUST 4 July Month End Close CONTACT INFORMATION Barbara Winter ([email protected]) Ext. 4152 Don Hartshorn ([email protected]) Ext. 4153 Misty Button ([email protected]) Ext. 4150 Jamie Compton ([email protected]) Ext. 4448 Jim Hughes ([email protected]) Ext. 4154 Joe Ensch ([email protected]) Ext. 4169 Barbara Jemison([email protected]) Ext. 4167 Shari Saia([email protected]) Ext. 4155 Christina Davis ([email protected]) Ext. 4159 Teresa Kolarik ([email protected]) Ext. 4151 Kim Wilson ([email protected]) Ext. 4168