(11) Guidelines for Fiscal Year Ending June 30, 2010
06/11 Purchase Requisition deadline
06/15 Blanket Purchase Orders for Supplies expire
06/30 Blanket Purchase Orders for Services expire
06/30 Disbursement Form deadline
07/16 P-Card Reallocation Form deadline
07/30 Budget Transfers e-mail deadline
07/30 Journal Voucher Form deadline
07/30 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.
Although the fiscal year ends 6/30/10 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:
- Disbursement Form (Direct Pay)
- Master Card Purchases (P-Card)
- Travel Reimbursements
- Telephone Charges
- Postage Charges
- Sodexo Food Reservations
- 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 FY10 requisitions by June 11, 2010. 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 11 against your FY10 budget. Any purchase requisitions submitted after June 11 will be charged against FY11 budget.
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 FY10 budget. Credit card activity with a credit card statement transaction date of July 1 through July 13 will be charged to the FY11 budget.
The following are guidelines to follow when using your Purchasing Card for the billing cycle 06/14/10 through 07/13/10.
The bank statement for the billing cycle 06/14/10 through 07/13/10 should be received around July 18, 2010. For accounting purposes, the billing cycle will be split into two files for Banner posting: June dates will be posted to FY10 in Banner and July dates will be posted to FY11.
- The “Transaction Date” on the statement will be used as the determination for the fiscal year to post the purchase to.
- Purchases made at the end of June may not be sent to the Bank for batching until July. The purchase, depending on the Bank’s transaction date, may then be posted to FY11 in Banner.
- If a cardholder purchases an item that they wish to charge to a Banner index other than the one their card is assigned to a Purchasing Card Reallocation Form must be faxed to Rose Harrington at X22522 not later than July 16, 2010. The Purchasing Card Reallocation Form may be downloaded at:
After July 16, 2010 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 30, 2010. Journal Voucher forms may be downloaded at:
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 – 7/03/10 (10 days of travel). Seven of these days (6/24-6/30/10) are in FY10 and three of these days (7/01-7/03/10) are in FY11. Seven days or 70% of the travel advance will be expensed to FY10 and three days or 30% of the travel advance will be expensed to FY11.
Mileage Reimbursement for In-State Travel must be submitted by July 30, 2010.
- Invoice and Disbursement Forms
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 2010 fiscal year is June 30. Please be sure all Disbursements Forms for items/services received on or before June 30, 2010 are submitted by this date so that they may be appropriately charged to the FY10.
Send Invoices and Disbursement Forms to Accounts Payable, located in the Business Office in Marcus White Room 006.
NOTE: Any expenditure that spans over more than one fiscal year is prorated to each appropriate fiscal year.
Please refer to the attached Pay Period Schedule for Fiscal Year 2009-10. 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 FY10 budget since the actual work was performed before or on June 30.
- The pay period ending 6/17/10 (check date 7/02/10) will be posted to Banner in July and charged to the FY10 budget.
- The pay period ending 7/01/10 (check date 7/16/10) will be posted to Banner in early August and charged to FY11 budget.
Since the last pay period falls between two fiscal years, the pay period ending 7/01/10 will be split with 90% of the payroll posted to FY10 and 10% of the payroll posted to FY11.
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 FY10 through July 30. 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)
Purchasing - Tom Brodeur (X22531)
Travel - Debbie Peterson (X22549)
Budget/Budget FY10 /Fiscal Year End Process/FY10 Year End Instruction