TO: Administrative Officials, Department Chairmen, and Directors of Activities
FROM: Gary W. Moore, Manager of General Accounting
SUBJECT: Fiscal Year 2008-2009 Year-End Deadlines and Calendars
DATE: May 4, 2009
As we approach Tuesday, June 30th, the end of fiscal year 2008-2009, the Accounting Office is reminding administrative officials, department heads and directors of activities to carefully review financial activity and submit corrections, etc. to the Accounting Office as soon as possible.
Remember that you can monitor account activity by accessing Banner online. This allows you to review current activity within your account without waiting for e~Print notification of report availability.
JUNE 30, 2009 PRELIMINARY YEAR-END REPORTS
On Monday, July 6, 2009, preliminary year-end June reports will be available via e-print. Please review these reports immediately.
NOTIFICATION OF CORRECTIONS SHOULD BE RECEIVED IN THE ACCOUNTING OFFICE NO LATER THAN NOON ON THURSDAY, JULY 9, 2009. Since account activity can be reviewed online at any time through Banner, there should be enough time for departments to review transactions.
OTHER SIGNIFICANT DEADLINES:
OBLIGATIONS
Please review your accounts for Contracts, Purchase Orders and Travel Purchase Orders using the FPIOPOF screen in INB Banner to determine that open purchase orders are valid and need to be carried forward into fiscal year 2010. Please note that this review should be done throughout the year as well as at year end.
Purchase order obligations that are invalid (i.e. already paid, need to be canceled, etc.) should be closed as soon as possible by submitting a memorandum or e-mail request to Procurement Services at jfitts@memphis.edu.
Requests to close travel purchase orders should be e-mailed to the Accounting Office at accounting@memphis.edu. All travel purchase orders with transaction dates prior to May 31 are subject to being closed since travel claims are due no later than 30 days after travel is completed.
Outstanding purchase orders not received, invoiced and paid by June 30, 2009 will be charged against fiscal year 2009-2010 funds.
INVOICES
PLEASE ENSURE THAT ALL PURCHASES RECEIVED BY JUNE 30, 2009, HAVE BEEN RECEIVED IN THE TIGERBUY SYSTEM. IF INVOICES WERE SENT DIRECTLY TO THE DEPARTMENT, FORWARD THEM TO THE GENERAL ACCOUNTING OFFICE BY 12:00 NOON ON JULY 2, 2009.
Purchases received by June 30, 2009 that were made outside of the Tigerbuy system should be reported to the General Accounting Office via e-mail for accrual regardless of whether or not an invoice has been received.
STAPLES PURCHASES
Fiscal year 2008-2009 Staples supply orders must be completed by 12:00 NOON on June 28th. Orders on June 28th will be delivered on June 29th and recorded in fiscal year 2008-2009. Purchases not delivered before June 30th will be charged to FY2010.
TRAVEL
- Travel Claims - Travel expense reimbursement claims for fiscal year 2008-2009 must be filed by 12:00 NOON on July 2, 2009.
TRAVEL WHICH BEGAN BEFORE JUNE 30, 2009, BUT IS COMPLETED IN JULY WILL BE CHARGED TO FISCAL YEAR 2009-2010.
- Travel Advances – Travel Advances for trips made in 2008-2009 must be cleared before June 30, 2009.
- Airfare Reservations - Reservations for airline travel before June 30th charged directly to the University (through Travelennium) must be made by June 17th to ensure billing in the correct fiscal year.
- Travel Purchase Orders - Please review all outstanding travel purchase orders to verify that the obligation is outstanding. If you determine that a travel purchase order should be closed, e-mail accounting@memphis.edu. Include the purchase order number in the request to close the purchase order. This process can be done throughout the year.
- Future year Travel Purchase Orders (FY 2009-2010) – Prior to July 1st, submit requests for future year travel purchase orders directly to the General Accounting Office using the Request for Travel Authorization available at http://bf.memphis.edu/forms/finance.php. Please send only those requests that require a Future Year Travel Purchase Order to be created before June30th. On July 1st, departments will be able to create Travel Purchase Orders in Self Service Banner.
TRANSFER VOUCHERS
Transfer vouchers for fiscal year 2008-2009 are due in the General Accounting Office by 12:00 NOON on June 30, 2009.
PETTY CASH REIMBURSEMENTS
Individuals having petty cash funds must submit their claims for reimbursement to the Accounting Office by 12:00 NOON on JUNE 30, 2009, for all transactions relating to fiscal year 2008-2009.
2009 YEAR END PROCUREMENT CALENDAR
Deadlines for Current Year (FY2009) Purchase Requisitions
April 15, 2009: FY09 requisitions that require bidding ($5,000 or more) and award of contract before July 1. (Complex proposals should be submitted earlier.)
June 22, 2009: FY09 requisitions that do not require bidding. Emergencies will be reviewed on a case-by-case basis.
Reminder: For purchases initiated in the current year (FY09), accrued expenses will be processed as follows:
- If goods/services are received on or before June 30, 2009, payment will be made in FY09.
- If goods/services are received after June 30, 2009, payment will be made in FY10.
June 22, 2009: Cancel, adjust or deobligate remaining balances on FY09 requisitions. Review open purchase orders and enter a Change Order Request form.
Deadlines for Future Year (FY2010) Purchase Requisitions
April 15-May 1, 2009: FY10 requisitions ($5,000 or more) that require bidding with an effective contract start date of July 1, 2009, to allow sufficient time for the bid process.
May 1, 2009 or after: FY10 requisitions ($5,000 or more) that do not require bidding with an effective contract start date of July 1 may be entered any time after May 1, 2009; however, resulting purchase orders will not be released and sent to the vendor until the start of the new fiscal year (on or around July 1, 2009). If a vendor requires early notification that a purchase order is forthcoming on July 1, advise Procurement Services so that a Letter of Intent can be sent to the vendor.
The following process applies to entering future year (FY10) purchase requisitions mentioned above:
- Access Tigerbuy e-Procurement System
- Prior to July 1, under the “Billing Options” section, change “Accounting Date” to July 1, 2009. After July 1, allow system to default to “no value.”
July 1, 2009: FY10 requisitions (less than $5,000) should be entered on or after July 1, 2009. Note: If you enter a requisition under $5,000 prior to July 1, the requisition will proceed, but the purchase order will reject due to insufficient funds.
Please contact Procurement Services staff at 678-2265 if you need assistance with your purchases. For your convenience, Tigerbuy Training may be scheduled through the Spectrum portal via Learning Curve for anyone needing new or refresher training.
BUDGET REVISIONS
You may process fiscal year 2008-2009 online budget revisions between account codes through Monday, June 30, 2009 with Transaction Date 30 Jun 2009. Any budget revisions (paper or online) relating to fiscal year 2008-2009 that would affect TBR Budget functions (Program Codes) or increase total expenditures should be in the Office of Financial Planning no later than 12:00 noon on June 30, 2009 with a written justification.
PAYROLL – Biweekly Time Sheets
All timesheets for the BW13 Biweekly Payroll (June 6 – June 19) must be submitted and approved via the Web by June 20, 2009, at 4:30 PM.
All timesheets for the BW14 Biweekly Payroll (June 20 – July 3) must be submitted and approved via the Web by July 2, 2009 at 4:30 PM.
QUESTIONS?
For information contact the Accounting Office at 2271 or by e-mail at accounting@memphis.edu.