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Guidelines for Fiscal Year Ending June 30, 2009
IMPORTANT DATES:
06/12 Purchase Requisition
deadline
06/15 Blanket Purchase Orders
for Supplies expire
06/30 Blanket Purchase Orders
for Services expire
06/30 Disbursement Form
deadline
07/17 P-Card Reallocation Form
deadline
07/28 Budget Transfers e-mail
deadline
07/31 Journal Voucher Form
deadline
07/31 Mileage Reimbursement
for In-State Travel
Refer to the
Guidelines below for more detailed information.
Any documents received after the
specific deadline will not be accepted for processing.
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GUIDELINES:
Although the fiscal year ends
6/30/09 an index’s available balance on that date (as shown on
your Banner screen) does not reflect your final
expenditure number. Several types of financial transactions
occurring “in” July will be posted to Banner with a June date,
thus affecting June’s available balance. This is necessary to
meet accounting practices and principles for the financial
statements. Available balances cannot be determined until the
fiscal year has been officially closed by the Accounting
department. The closing can occur anytime between October and
December of the new fiscal year.
It is necessary for you to
understand how transactions occurring near or at the end of the
fiscal year may affect your index. In estimating your
available balance, please keep the following information in mind:
There are certain expenditure
activities that are not committed in Banner and
will reduce the available balance when they are paid. “Not
committed” means that monies for these expenditures have not
been set aside or reserved from your budget to cover these costs
at a later date when the invoice is actually paid. Therefore
your available balance will be over-stated. These activities
include:
1.
Disbursement Form (Direct Pay)
2. Master Card Purchases (P-Card)
3. Travel Reimbursements
4. Telephone Charges
5. Postage Charges
6. Sodexo Food Reservations
7. Payroll Expenditures
Since there is no committing
document that reserves funds for these specific charges, you
must maintain a sufficient available balance in your index to
cover these expenditures.
Submit FY09 requisitions by June
12, 2009. The purchasing process may require clarifications of
requests and/or bidding, both of which lengthen the process.
Every effort will be made to encumber purchase requisitions
submitted on or before June 12 against your FY09 budget. Any
purchase requisitions submitted after June 12 will be charged
against FY10 budgets.
Blanket orders for supplies have
an expiration date of June 15. Please plan your purchases
against these orders accordingly. Purchasing should be notified
as soon as possible regarding blanket orders that are no longer
needed so that they may be closed.
The last fiscal year P-Card
statement runs from June 14 to July 13. The Accounting
department will charge any credit card activity with a credit
card statement transaction date of June 14 through June
30 to the FY09 budget. Credit card activity with a
credit card statement transaction date of July 1 through
July 13 will be charged to the FY10 budget.
The following are guidelines to
follow when using your Purchasing Card for the billing cycle
06/14/09 through 07/13/09.
-
The
bank statement for the billing cycle 06/14/09
through 07/13/09 should be received around July 18,
2009. For accounting purposes, the billing cycle
will be split into two files for Banner posting:
June dates will be posted to FY09 in Banner and July
dates will be posted to FY10.
http://www.finance.ccsu.edu/PurchasingCard/forms/P-CardReallocation
Form.pdf
After July 17, 2009 the
cardholder may prepare a Journal Voucher to correct this billing
cycle. The Accounting Department, located in the Business
Office in Marcus White, Room 006, must receive the Journal
Voucher on or before July 31, 2009. Journal Voucher forms may
be downloaded at:
http://www.finance.ccus.edy/PurchasingCard/forms/JV Form.pdf
If the travel dates indicated on
the travel authorization (TA) are dates that occur during two
fiscal years, the amount of the travel advance will be prorated
based on the dates.
Example:
The travel dates on the travel authorization are 6/24 – 7/03/09
(10 days of travel). Seven of these days (6/24-6/30/09) are in
FY09 and three of these days (7/01-7/03/09) are in FY10. Seven
days or 70% of the travel advance will be expensed to FY09 and
three days or 30% of the travel advance will be expensed to
FY10.
Mileage Reimbursement for
In-State Travel must be submitted by July 31, 2009.
Invoices -
It is University Policy that all
vendor invoices must be sent directly to the Accounts Payable
Department rather than having the invoice sent to the department
that initiated the purchase. All departments must immediately
submit any unpaid invoices to Accounts Payable that may have
been sent to their area in error.
Disbursement Forms -
The deadline for all Disbursement
Forms for the 2009 fiscal year is June 30. Please be sure all
Disbursements Forms for items/services received on or before
June 30, 2009 are submitted by this date so that they may be
appropriately charged to the FY09.
Send Invoices and Disbursement
Forms to Accounts Payable, located in the Business Office in
Marcus White Room 006.
NOTE:
Any expenditures that spans over more than one fiscal year are
prorated to each appropriate fiscal year.
Please refer to the attached Pay
Period Schedule for Fiscal Year 2008-09. The last two payrolls
shown on the Pay Period Schedule are posted in Banner after the
end of the fiscal year but will be charged against the FY09
budget since the actual work was performed before or on June
30.
-
The pay
period ending 6/18/09 (check date 7/03/09) will be
posted to Banner in July and charged to the FY09
budget.
-
The pay
period ending 7/02/09 (check date 7/17/09) will be
posted to Banner in early August.
Since the last pay period falls
between two fiscal years, the pay period ending 7/02/09 will be
split with 80% of the payroll to FY09 and 20% of the payroll to
FY10.
·
Budget
Budget funds should be
used for operating expenses for the current fiscal year.
Funds should not be used or committed to pay for expenses that
will occur in the following fiscal year.
Since there are transactions
posted after the end of the fiscal year that may affect the
balances of your index, the Budget Office will accept budget
transfers for FY09 through July 28. Request your budget
transfers via e-mail to Lucy Cannamela (Cannamela@ccsu.edu)
in order to expedite the process.
Department Contacts
for Questions/Assistance:
Accounts Payable – Rose Harrington (X22509)
Budget & Budget Training Sessions – Lucy Cannamela (X22502)
Payroll for Full-Time – Kimberly Chagnon (X22551) or Lucy
Cannamela (X22502)
P-Card - Rose Harrington (X22509) or Jo-Ann Myers (X22501)Purchasing - Tom Brodeur (X22531)
Travel - Debbie Peterson (X22549)
Budget/Budget FY09 /Fiscal Year End Process/FY09 Year End
Instruction
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