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Year End Closing for FY 2008

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Title: Year End Closing for FY 2008


1
Year End Closing for FY 2008
2
Year End Closing for FY 2008
  • Introduction and Overview
  • Sheela Moudgil

3
Year End Closing for FY 2008
  • Scheduled date for closing the General Ledger for
    the 2008 fiscal year is Friday, July 18,
    2008

Introduction
4
Definition
  • What is year-end closing?
  • An accounting procedure undertaken at the end of
    the year to close out business from the previous
    year
  • Carry forward balances from the previous year
  • Open posting accounts for the upcoming year

5
Objective
  • Record all receipts/revenues and
    disbursements/expenses in the proper fiscal
    year.
  • Ensure the accuracy of any outstanding
    commitments (purchase orders and travel
    encumbrances) for the year so that budget
    balances (committed and not committed) for state
    funds can be accurately carried forward.

Introduction
6
Critical Elements of Closing
  • Timely and accurate closing requires the
    coordinated efforts of Finance and Accounting and
    campus departments.
  • Two significant activity periods
  • Prior to June
  • During June

Introduction
7
Prior to June
  • All departments should review and reconcile their
    ledgers on a monthly basis
  • Verify all requisitions, invoices and payroll
    transactions have been recorded accurately.
  • Verify that all corrections have been posted.

Introduction
8
During June
  • Monitor June financial activity with the use of
    prompted financial reports.
  • If there are transactions that do not appear,
    ensure they are recorded in the ledger by the
    posted deadline.
  • Required actions may include expense transfers,
    payroll corrections, deposit corrections, phone
    call to contact person.

Introduction
9
Statement of Auditing Standards
  • SAS112 Communicating Internal Control Related
    Matters Identified in an Audit
  • Departments must be diligent in retaining/
    forwarding documentation, electronic or hard
    copy, providing proof of internal controls.
  • If requested, the lack of documentation could be
    interpreted by the auditors as a control
    deficiency.

Introduction
10
Year End Information
  • Summarized Year End Schedule is located at
  • http//fa.ufl.apps/ga/yes/default.aspx
  • Lists critical dates, tasks, responsible units
    and staff
  • Can be sorted in the required order by clicking
    on the appropriate column heading

Introduction
11
Agenda
  • Treasury Management
  • Cheryl Bell, Acting Associate Controller
  • Asset Management
  • Amanda Jobes, Assistant Controller
  • Payroll Distributions
  • Susan Wilson, Accounting Coordinator

Introduction
12
Agenda
  • General Accounting /Financial Reporting
  • Sheela Moudgil, Associate Controller
  • Purchasing and Disbursements
  • Randy Staples, Associate Controller
  • Budgets
  • Sheri Austin, Director

Introduction
13
Introduction
  • Questions or Comments?

Introduction
14
Year End Closing for FY 2008
  • Treasury Management
  • Cheryl Bell

15
Treasury Management Deposits
  • Deposit processing for the month of June will be
    similar to prior month-ends with the exception of
    extended deadlines noted in the following slides.

Treasury Management
16
Monday June 30 Cash Check Deposits (FY 2007-08)
  • All cash and check deposits (including cash
    expense refunds) must be received by University
    Cashiers/Treasury Management (S-113 Criser Hall
    Window 9) by
  • Mon June 30, 800 am in the drop box
  • Mon June 30, noon over the counter
  • Normal deadline for over-the-counter deposits
    (1030 am) will resume on July 1.

Treasury Management
17
Monday June 30 Cash Check Deposits
  • Contact Linda Shreve
  • By phone at 352-392-0185
  • By email at tmhelp_at_admin.ufl.edu

Treasury Management
18
Wednesday July 2 Credit Card Deposits (FY
2007-08)
  • All credit card deposits must be received by
    University Cashiers/Treasury Management (S-113
    Criser Hall Window 9) by
  • Wed July 2, 800 am in the drop box
  • Wed July 2, noon over the counter
  • Normal deadline for over-the-counter credit card
    deposits (1030 am) will resume on July 3.

Treasury Management
19
Wednesday July 2 Credit Card Deposits
  • Deposits need to be sent daily, as soon as
    practical, but no later than the next day after
    the settlement date.
  • Critical Send these deposits regularly during
    this last week so all the deposits can be
    processed before the Accounts Receivable
    subsystem closes.

Treasury Management
20
Wednesday July 2 Credit Card Deposits
  • Contact Renato Squindo
  • By phone at 352-392-9057
  • By email at tmhelp_at_admin.ufl.edu

Treasury Management
21
Wednesday July 2 EFT/ACH Deposits (FY 2007-08)
  • EFT/ACH Transmittal Forms must be faxed to
  • 352-846-3576
  • By Wed July 2, noon

Treasury Management
22
Wednesday July 2 EFT/ACH Deposits
  • Deposits need to be faxed as soon as practical,
    but no later than the next day after receiving
    confirmation.
  • Critical Send these deposits regularly during
    this last week so all the deposits can be
    processed before the Accounts Receivable
    subsystem closes.

Treasury Management
23
Wednesday July 2 EFT/ACH Deposits
  • Contact David Segura
  • By phone at 352-392-9057
  • By email at tmhelp_at_admin.ufl.edu

Treasury Management
24
Friday July 11 Corrections
  • Corrections to fiscal year 2007-08 deposits
    should be requested before July 11 by noon.
  • Please send an e-mail to depcorrect_at_admin.ufl.
    edu.

Treasury Management
25
Treasury Management Contact
  • David Segura
  • Phone 352-392-9057
  • Email
  • tmhelp_at_admin.ufl.edu

Treasury Management
26
Treasury Management
  • Questions or Comments?

Treasury Management
27
Year End Closing for FY 2008
  • Asset Management
  • Amanda Jobes

28
Friday June 13
  • Deadline to input vouchers for tangible personal
    property, e.g.,
  • Furniture equipment
  • Software
  • Artwork
  • Books

Asset Management
29
Tuesday June 17
  • Deadline for Facilities Planning Construction,
    Physical Plant and IFAS Facilities to send
    invoices to Construction Accounting for
    processing.

Asset Management
30
Monday June 30
  • Confirm assets that will continue to be insured
    on the Equipment Maintenance Program.
  • Contact
  • Tami WebbThermoFisher Scientific372-3265

Asset Management
31
Wednesday July 23
  • Asset Management will distribute year end
    auxiliary depreciation reports.

Asset Management
32
Asset Management Contact
  • Amanda Jobes
  • Phone 352-392-2556
  • Email ajobes_at_ufl.edu

Asset Management
33
Asset Management
  • Questions or Comments?

Asset Management
34
Year End Closing for FY 2008
  • Payroll Distributions
  • Susan Wilson

35
Friday June 6Saturday June 7
  • 6/6/08 - Last day to edit FY08 Distributions
    before Rollover occurs.
  • Level 2 approval must be completed for job data
    actions.
  • 6/7/08 - System Rollover for all existing FY08
    Distributions. FY09 Distributions are created.

Payroll Distributions
36
Monday June 9
  • Departments may start to review FY09
    Distributions, save and post.
  • ALL Rollover Distributions must be POSTED by
    departments.
  • If grant expires before 6/30/09 will then need
    to use a different EAC.
  • Departments will have until noon on Friday,
    7/11/08 to review, save and post.

Payroll Distributions
37
Please Note
  • ANY FY09 Distributions that are NOT POSTED by
    noon, 7/11/08 will be DELETED. If later needed,
    Departments will need to create.

Payroll Distributions
38
New Hires in June
  • For any new hires entered after Rollover occurs,
    Department will need to create FY08
    Distribution.
  • Deadline is noon on Friday, 6/27/08, to create a
    new FY08 Distribution.
  • University Payroll Services will be able to
    create FY08 Distributions from noon on Friday,
    6/27/08, through Thursday, 7/10/08, but requests
    must be received no later than noon on 7/10.
  • FY09 Distributions for New Hires will need to be
    created by Departments.

Payroll Distributions
39
Distribution Component Unavailability
  • Departments will not be able to access the
    Payroll Distribution system from noon on Friday,
    6/27/08, until sometime on Wednesday, 7/2/08.
  • The Distribution component will be unavailable
    from noon on Thursday, 7/10/08, and for rest of
    that day for University Payroll Services
    processing. The component will be available on
    Friday, 7/11/08, to edit existing Distributions
    or create FY09 Distributions.

Payroll Distributions
40
FY09 Retros
  • First Distribution retro for FY09 will run on
    Thursday night, 7/3/08.

Payroll Distributions
41
FY08 Journal Entry Requests
  • Deadline to submit FY08 non-grant fund related
    journal entry requests will be 7/4/08.

Payroll Distributions
42
Payroll Distributions Contact
  • Susan Wilson
  • Phone 352-392-1231
  • Email smwilson_at_ufl.edu

Payroll Distributions
43
Payroll Distributions
  • Questions or Comments?

Payroll Distributions
44
Year End Closing for FY 2008
  • General Accounting and Financial Reporting
  • Sheela Moudgil

45
Monday June 9 Monday June 23Negative Balance
Notification
  • General Accounting will send negative balance
    reports weekly for non-grant funds.
  • Please correct negative balances while the
    system is available for E2Es, retros, deposits,
    budget transfers, or cash transfers as
    appropriate.

General Accounting
46
Monday June 9 Monday June 23Negative Balance
Notification
  • After FY closing, prior year expenses cannot be
    moved between grant and non-grant funds.

General Accounting
47
Friday June 13ChartField Values
  • Deadline to request new ChartField values (DeptID
    and Dept Flex) for use in FY08.

General Accounting
48
Wednesday June 25HRAC
  • Deadline to request new HR Account codes for use
    in FY08.
  • Note last retro for FY08 is 06/26/08.

General Accounting
49
Monday July 7GL Journal Entries
  • Deadline to submit GL journal entries to
    gljournal_at_admin.ufl.edu for June 2008.

General Accounting
50
Allocations
  • Workers and Unemployment Comp, Administrative
    Overhead allocations will run before year end
    closing and post in FY08 ledger.
  • FICALT and SPP for June payroll will run in July
    and post to FY09 Actuals and budget ledger for
    APPROP funds.

General Accounting
51
Tuesday July 8Preliminary Year End Reports
  • Preliminary Year End Financial Reports will be
    available.
  • Will not include June transactions processed
    after July 4.

General Accounting
52
Friday July 18Year-End GL Closing
  • Month of June and Fiscal Year 2008 will be
    closed.
  • Income statement accounts will be closed to
    balance sheet accounts and balances brought
    forward.

General Accounting
53
Tuesday July 22Final Year End Reports
  • Final Year End Financial Reports will be
    available.
  • Will include June transactions processed after
    July 4.
  • Split payroll for pay period ending July 10
  • Any GL journal entries processed after July 4
    with a June 2008 date

General Accounting
54
Tuesday July 22Auxiliaries Workshop
  • Auxiliary Financial Statement Workshop
  • Tuesday July 22, 2008 at 200 pm
  • Bridges - Dodge Island
  • Auxiliary Financial statements are due to General
    Accounting by 08/08/08.
  • Notification will be sent out by General
    Accounting.

General Accounting
55
Tuesday July 29
  • UF Fund Level Financial Statement Workshop
  • Limited to preparers of year end Fund Level
    financial statements
  • Notification on time and location will be sent by
    Bob Burton (rburton_at_ufl.edu)

General Accounting
56
Tuesday August 5
  • Component Unit Financial Reporting Workshop
  • Limited to preparers of Component Unit financial
    statement forms
  • Notification on time and location will be sent by
    Bob Burton (rburton_at_ufl.edu)

General Accounting
57
New GL Accounts for FY09
  • Discontinue use of existing Sales and Service
    account 440000
  • Instead, use one of the following
  • Sales and Service Internal 440400
  • Sales and Service External 440500

General Accounting
58
New GL Accounts for FY09
  • Discontinue use of existing Printing and
    Reproduction account 793000
  • Instead, use one of the following
  • Photocopying 793100
  • Offset Printing 793200
  • Specialty Printing 793300

General Accounting
59
New GL Accounts for FY09
  • Photocopying
  • All black and white and color photocopying and
    related processes purchased from outside vendors.
  • Offset printing
  • Printed material reproduced on an offset press
    such as brochures, flyers, newsletters, posters,
    postcards letterhead, business cards, and
    magazines.
  • Specialty Printing
  • Novelty or premiums printing such as awards,
    T-shirts, pens, key chains, name tags, buttons.
  • Contact Dan Williams at 846-3903 if you have
    questions on the appropriate classification of a
    printing job.

General Accounting
60
Other Changes for FY09
All items circled in red (their PowerPlay views
and sub-folders) will be retired after FY08 year
end closing.
General Accounting
61
Other Changes for FY09
  • The cubes and views will remain for historical
    purposes, but not updated past the FY08 close.
  • Any views created and saved in My Folders or
    Special Newsboxes will continue to work for all
    data posted through the FY08 year end close.

General Accounting
62
Other Changes for FY09
  • After FY08 year end close, they will be placed in
    parent folder Retired Departmental Ledger
    Cubes
  • Navigation
  • Public Folders gt Financial Information gt
    Ledger gt Retired Departmental Ledger Cubes

General Accounting
63
General Accounting Contact
  • Sheela Moudgil
  • Phone 352-392-1326
  • Email gahelp_at_admin.ufl.edu

General Accounting
64
General Accounting
  • Questions or Comments?

General Accounting
65
Year End Closing for FY 2008
  • Purchasing and Disbursements
  • Randy Staples

66
Purchasing and Disbursements
  • Departments are encouraged to begin reviewing all
    outstanding purchase orders (PO) and travel
    authorizations (TA).
  • Remember, for all recurring charge POs to
    internal vendors, such as PPD, ACS, Postage or
    CNS, you will need to estimate your June bill so
    only the June estimated amount will be carried
    forward.

Purchasing and Disbursements
67
Purchasing and Disbursements
  • Please note that any PO not currently needed
    should be canceled.
  • This must be performed in the following manner

Purchasing and Disbursements
68
PO and/or PO Lines Not Previously Vouchered
Against
  • Complete a change order to cancel the PO and
    forward to Purchasing.
  • Instructions on completing change orders can be
    found at
  • http//purchasing.ufl.edu/peoplesoft.aspChange_O
    rders
  • The change order form can be found at
  • http//fa.ufl.edu/forms/pdf/fa-pds-pocr.pdf

Purchasing and Disbursements
69
PO That Has Been Vouchered Against
  • Finalize the PO on the last voucher.
  • Navigate to
  • Accounts Payable gt Review gt Interfaces gt
    Purchase Order Inquiry
  • Key in your Purchasing Business Unit and select
    the PO. (This will list all vouchers applied
    against the PO.)

Purchasing and Disbursements
70
PO That Has Been Vouchered Against
  • Note the latest voucher number.
  • Retrieve this voucher in Accounts Payable
  • Finalize the PO by clicking on the Finalize
    icon in the top right corner.
  • You will need to budget check by clicking the
    budget check icon to release the funds.

Purchasing and Disbursements
71
PO That Has Been Vouchered Against
  • Note  A PO that has had the entire amount
    vouchered for payment (open amount of 0.00) and
    has not been finalized will need to be finalized
    to close the PO.

Purchasing and Disbursements
72
Outstanding Encumbrance Report
  • The outstanding encumbrance report for open POs
    and TAs is available in Enterprise Reporting and
    can be found by navigating to the
    followingEnterprise Reporting gt Access
    Reporting gt Monthly Financial Reports gt Open
    Encumbrance Report
  • Departments will be required to run this report
    and perform the following tasks for all
    outstanding POs and TAs

Purchasing and Disbursements
73
Purchase Orders
  • Appropriated Funds (101, 102, 103, 111, 112, 113,
    191, 221 222)
  • Use the following process

1.  POs no longer needed Cancel or finalize per
the above instructions. 2.  All amount only
blanket POs not issued to a UF internal
vendor must be canceled or finalized. 3.  Any POs
that are not canceled by Purchasing or
finalized by the department will be carried
forward.
Purchasing and Disbursements
74
Purchase Orders
  • The following FY08 encumbrances are authorized to
    be carried forward
  • Established POs to outside vendors for the
    purchase of goods, but not amount only blanket
    POs
  • An estimated amount to allow for the payment of
    June services for service POs

Purchasing and Disbursements
75
Purchase Orders
  • The PO Rollover process will be initiated by
    Purchasing and Disbursement Services to roll
    remaining POs to FY09.
  • The PO number will not change from the existing
    FY08 number.

Purchasing and Disbursements
76
Purchase Orders
  • FY08 PO distribution lines will be canceled and a
    new distribution line will be generated for the
    same amount and classified as
  • FY09 CYFWD (101-113) or
  • CRRNT (191, 221-222)

Purchasing and Disbursements
77
Purchase Orders
  • The FY08 budget balance equal to the total of POs
    not canceled or finalized will be moved to the
    FY09 budget (CYFWD or CRRNT as applicable) if
    adequate budget exists.

Purchasing and Disbursements
78
POs On Appropriated Funds
  • For the following vendors

CNS Telecommunications... CNS....................
................. HealthNet....................
......... ICBR Biotechnology.............
Academic Technology.......... Biomedical Media
Services.. Postage...............................
.
vendor no. 0000002055vendor no.
0000002056vendor no. 0000002307vendor no.
0000002303vendor no. 0000002068vendor no.
0000003552 vendor no. 0000002074
Purchasing and Disbursements
79
POs On Appropriated Funds
  • Will be handled in the following manner

- POs should be reduced to the estimated June
bill amount by the department. - POs will be
rolled from FY08 to FY09 by PDS. - Budget, if
available, will be moved by University Budget
office to FY09 to cover the POs. - POs will be
cancelled by PDS restoring the funds back to
your available FY09 CYFWD balance. - New POs
will need to be established for the entire
fiscal year to these vendors. (CRRNT or CYFWD)
Purchasing and Disbursements
80
Cash-Based and 201/209 Funds
  • The cumulative budget feature of these funds will
    allow for POs to remain open across fiscal
    years.
  • Although all POs funded by cash and budget based
    funds will remain open, departments should use
    this opportunity to clean up any POs no longer
    needed.
  • Cancel or finalize POs per the instructions above

Purchasing and Disbursements
81
Deadlines
  • Friday June 6
  • Last day to submit change order to Purchasing to
    cancel a FY08 purchase order
  • Tuesday June 24
  • Last day for departments to finalize a purchase
    order that has been vouchered against

Purchasing and Disbursements
82
Travel Authorizations
  • Cancel all TAs not needed in the Travel and
    Expense Module by Tuesday, June 24th.
  • The Open Encumbrance Report can be used to
    identify all open TAs on your budgetary cost
    centers.
  • Purchasing and Disbursement Services will re-
    establish the TAs (TA number in FY09 will remain
    the same as the existing FY08 number) based on
    the following criteria

Purchasing and Disbursements
83
Travel Authorizations
  • Funds 101-113, 221-222
  • Travel Start Date lt 6/30/2008
  • The FY08 budget balance equal to the total of TAs
    not canceled or deleted meeting this criteria
    will be moved forward to FY09 CYFWD budget
    reference.
  • Travel Start Date gt 6/30/08
  • Budget reference will be changed to FY09 CRRNT

Purchasing and Disbursements
84
Travel Authorizations
  • All Other Funds
  • For all remaining TAs, the budget reference will
    be changed to FY09 CRRNT

Purchasing and Disbursements
85
Year End Closing for FY 2008
  • Purchasing and Disbursements
  • Year-End Information and Schedule

86
Requisitions
  • Orders above 50,000 that require competitive
    bidding
  • Should be submitted by May 9th to ensure that
    FY08 funds are encumbered.
  • A sealed bid/solicitation requires at least 30-45
    days to specify, advertise, open, evaluate, award
    and post, before a purchase order can be issued.

Purchasing and Disbursements
87
Requisitions
  • All requisitions for FY08
  • Must be input into the Universitys accounting
    system by Friday, June 6th to ensure POs are
    encumbered against FY08 funds.
  • For FY08 requisitions after this date, contact
    Purchasing to coordinate any requests to encumber
    funds.

Purchasing and Disbursements
88
Requisitions
  • After 6/06/08
  • The ePro module will be set to default to FY09
    dates.
  • Departments may begin to input FY09 requisitions
    but these will need to be Saved for Later.
  • Departments will be notified when FY09 budget is
    available and FY09 requisitions may then be
    submitted.
  • If a requisition is submitted instead of saved
    for later, it will be deleted.

Purchasing and Disbursements
89
Purchasing Card
  • Because of timing issues with vendors submitting
    purchasing card transactions to their bank,
  • There is no way to determine the exact date a
    transaction will be sent to UF by our bank and
    loaded into the PCard module.
  • The last day to approve PCard transactions on
    FY08 funds will be Thursday, 6/26/08.

Purchasing and Disbursements
90
Purchasing Card
  • You may continue to use your UF purchasing card
    and approve charges through the end of the fiscal
    year, with the following restriction in mind
  • All transactions received or approved after
    6/26/08, charges will be applied against FY09
    funds.

Purchasing and Disbursements
91
Year End Closing for FY 2008
  • Purchasing and Disbursements
  • FY08 Deadlines

92
Friday May 9
  • Orders above 50,000 that require competitive
    bidding
  • Should be submitted to ensure that FY08 funds are
    encumbered.
  • A sealed bid usually requires 30-45 days to
    specify, advertise, open, evaluate, award and
    post, before a purchase order can be issued.

Purchasing and Disbursements
93
Friday June 6
  • Final day to input a requisition into PeopleSoft
    against FY08 funds. For FY08 requisitions after
    this date, contact Purchasing to coordinate any
    requests to encumber funds.
  • Departments may begin to input FY09 requisitions
    but these will need to be Saved for Later.

Purchasing and Disbursements
94
Friday June 6
  • Deadline for submitting ALL Change Orders on
    outstanding encumbrances.

Purchasing and Disbursements
95
Tuesday June 24
  • Revenue Refund requests should be input into
    PeopleSoft to ensure posting against FY08 funds.
  • Deadline for departments to finalize POs in
    PeopleSoft that have been vouchered against for
    FY08.

Purchasing and Disbursements
96
Tuesday June 24
  • Last day to input a voucher (regular, E2E, E2R)
    into PeopleSoft to ensure payment from FY08
    funds.
  • Travel related Cash Expense Refunds should be
    remitted to the UF Travel Office.
  • No input will be allowed in the PeopleSoft Travel
    and Expense module after 6/24. Reopen on Monday,
    July 7th.

Purchasing and Disbursements
97
Tuesday June 24
  • Last day to upload vouchers thru the interface
    process into AP (IDs, Library, etc.)
  • All travel advances for FY08 must be settled

Purchasing and Disbursements
98
Wednesday June 25
  • All supporting documentation must be received in
    Purchasing and Disbursement Services thru fax
    imaging for approval of vouchers.

Purchasing and Disbursements
99
Thursday June 26
  • Last day to approve PCard transactions to ensure
    payment against FY08 funds.
  • Purchasing and Disbursement Services will approve
    all pending vouchers for year-end processing.

Purchasing and Disbursements
100
Friday June 27
  • All vouchers input into PeopleSoft must be
    cleared of all matching exceptions and budget
    errors.
  • Purchasing and Disbursement Services will be
    working these errors and contacting departments
    for assistance.

Purchasing and Disbursements
101
Saturday June 28
  • The PO Rollover process will be initiated by
    Purchasing and Disbursement Services to roll
    remaining POs to FY09.

Purchasing and Disbursements
102
Wednesday July 2
  • The FY08 budget balance equal to the total of
    POs/TAs not canceled or finalized will be
    provided to the budget office for movement to the
    FY09 budget (CYFWD or CRRNT as applicable) if
    adequate budget exists.

Purchasing and Disbursements
103
Monday July 7
  • Accounts Payable and Travel modules will be
    opened for FY09 processing.
  • These modules need to be closed until FY09
    budgets are established and FY08 POs and TAs are
    closed.

Purchasing and Disbursements
104
Contacts
Travel travel_at_ufl.edu Brett Wallen 352-392-1245
  • Purchasing
  • purchasing_at_ufl.edu
  • Lisa Deal
  • 352-392-1331

Accounts Payable disbursements_at_ufl.edu Randy
Staples 352-392-1241
Purchasing and Disbursements
105
Purchasing Disbursements
  • Questions or Comments?

Purchasing and Disbursements
106
Year End Closing for FY 2008
  • Budgets
  • Sheri Austin

107
Budget Office
  • Each fiscal year-end, the Budget Office has the
    responsibility of allocating and loading the next
    year's Current and Carry-forward budget.
  • The following is a timeline of the process

Budgets
108
Budget Allocation
  • Friday May 9
  • FY 2009 Appropriated funds will be allocated to
    Colleges.
  • Units can begin entering Budget Data in the
    Budget Prep System.
  • Monday June 2
  • Deadline for units to complete entering Budget
    Data in the Budget Prep System.

Budgets
109
Budget Transfer Availability
  • Saturday May 10
  • System will be available for budget transfers for
    FY 2009 for Waiver Authority fund 132.
  • Friday June 27
  • Deadline to process budget transfers for FY 2008
    for APPROP and STUGOV ledgers.

Budgets
110
Budget Transfer Availability
  • Monday July 7
  • System will be available for budget transfers for
    FY 2009 for APPROP (All Funds) and STUGOV Ledgers

Budgets
111
2009 CRRNT Budget
  • Friday June 27
  • FY 2009 CRRNT budget will be available in
  • APPROP Ledger funds 101-103 and 221, 222
  • Concession fund 192
  • STUGOV Ledger fund 191 
  • This is also the last day to process budget
    transfers for FY 2008 for APPROP and STUGOV
    ledgers.

Budgets
112
Thursday July 3FY 2009 Carry-Forward Budget
  • Budget amounts that are committed (i.e.,
    outstanding purchase orders and travel
    authorizations), but not expended at June 30 for
    EG, IFAS, HSC, and Student Activities budget
    entities are carried forward and budgeted in FY
    2009.

Budgets
113
Thursday July 3FY 2009 Carry-Forward Budget
  • These budget amounts are recorded in the
    Commitment Control Ledger, budget reference CYFWD
    (Funds 101-113) or CRRNT (Funds 191, 221, 222).
  • The budget is recorded in the same Department ID,
    budgetary account, and program (if applicable) as
    shown on the commitment.

Budgets
114
Friday July 25FY 2009 Carry-Forward Budget
  • FY 2008 CRRNT uncommitted and unexpended budget
    amounts for EG, IFAS, and HSC budget entities
    (Funds 101-113 only) are distributed to the
    appropriate major budgetary unit, e.g., Vice
    President, College Dean
  • Recorded in the Commitment Control APPROP Ledger
  • Budget Reference of CYFWD, FY 2009

Budgets
115
Friday July 25FY 2009 Carry-Forward Budget
  • Unexpended FY 2008 balances with a Budget
    Reference of CYFWD are carried forward and
    budgeted in FY 2009.
  • These balances are recorded in
  • Commitment Control APPROP Ledger
  • Budget Reference CYFWD
  • Same Department ID, budgetary account, and
    program (if applicable) as in FY 2008.

Budgets
116
Budget TransfersFor FY 2009 Fund 132
When creating a new Budget Transfer Journal -
Change the Journal Date from the current
date to 07/01/2008
Budgets
117
Budgets
  • Questions or Comments?

Budgets
118
Year End Closing for FY 2008
  • Summary and Wrap-Up
  • Sheela Moudgil

119
Fiscal
120
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