1. Year-End 2012 Last Updated: May 11, 2012

2. Year End This session will: –Provide important information designed to educate departments on year end processes –Information is provided from the view point of the following critical business offices: Budgets Accounting Purchasing

3. Budget Office – Negative Budget Lines For year end close, general funds and trust funds must be positive in total Salary lines must be positive Operating lines can be negative but must be positive in total

4. Budget Office – Budget Revisions SRCI budget revisions – flex’s –General funds only –Salaries, benefits, contracted services, between programs Budget Office revisions –Increase revenue in trust funds –Operating to salary (or salary to operating) in trust funds only On line budget revisions –No pennies –Don’t cross program codes –Use default org codes

5. Budget Office - Overrides Current year requisitions –Budgeted funds are required to move budget to cover requisitions Special circumstances require detailed explanation and Budget Officer approval –Unbudgeted funds, cash must have been deposited Future requisitions –Require email request to Budget Office including: Requisition number Funding source amount

6. Budget Office – Time Limited Positions HR 3.30’s are required for all time limited positions that will continue into the new year –Due to Budget Office June 1 st –No more than 3 years General funds positions –SRCI flex –Time limited certification Trust funds –Include position funding in budget package

7. Budget Office – Budget Rolls General funds operating roll –Continuation or permanent budget –June 1 st Carry forward –2.5 % of University appropriation –Divisions receive 2.5% of permanent operating Allocated by VC –Not always allowed by the governor

8. Budget Office – Budget Rolls (Cont.) Special funds (budgeted trust) –Departments build budgets Jan – May –Approved by Budget Director May – June Unbudgeted trusts –Ending cash balance is rolled to new year as 109970 budget entry –Mid to late July Position roll –Late June

9. Accounting – Deficit Fund Balances Review funds with deficit fund and cash balances (negative/credit) starting on June 1 of the fiscal year. All deficit balances should be cleared no later than 11:00am Friday, June 22. –Fund deficit balance from another source –Move an expense that caused deficit balance to another fund This applies mainly to Trust funds, which are not state appropriated funds.

10. Accounting – Small Balances Funds with small balances and little activity may need to be closed Review your funds with small balances and inactivity. Determine if they need to be closed for the upcoming Fiscal Year. Funds with balances will require a journal entry to move balance to another fund. –Funds cannot be closed with a Fund Balance –Refer to General Accounting’s Year-End (Month-end June) calendars for specific JE cutoff dates. –Terminate funds via Banner Fund Change Request Form

11. Accounting – Change Funds Reminder letters will be mailed to departments with change funds in late May. Change funds must be counted and verified. Verification must be received in Accounting by Friday, June 22. –Count verification form included in mailing –Must be signed by custodian Custodian information must always be up- to-date.

12. Accounting – Petty Cash Expenses must be recorded at year end. All money and expenditure documentation must be turned in to General Accounting before 10:00am Friday, June 22 Department may request money for upcoming Fiscal year, issued July 1. Custodian information must always be up- to-date.

13. Accounting – IDI’s and JE’s All Interdepartmental Invoices to be paid from FY funds must be received in Accounting before 11:00am Friday, June 22 Journal Entries that cross funds –Crossing funds – Entry between a General Fund (1xxxxx) and any other type of fund (2xxxxx, 3xxxxx, 5xxxxx, etc) –MUST be received before June 22

14. Accounting – Check Requests Goal is to pay all expenses that occurred within current FY in that same FY. General funds –Subscriptions purchased at FY End will only be paid with General Funds if there is NOT currently an existing subscription –Certain registrations may not be paid if for the next FY

15. Accounting – Check Requests All check requests to be paid from FY 2011-2012 funds must be received in Accounts Payable by 10:45am Friday, June 22 Check requests will be processed only if ALL approvals and required documentation are in order.

16. Accounting – External Billing All External Invoices for FY 2012 –Must be prepared and submitted to billing email box (billing@uncw.edu) before 5:00pm on Monday, July 9, 2012 –This includes all invoices that are for goods sold or services rendered through June 30, 2012. –Invoice description must reference date service was provided to ensure inclusion in correct fiscal year.

17. Accounting – Travel ALL travel reimbursement requests to be paid in current Fiscal Year should be received for payment by 5:00pm Thursday, June 21. Purchasing Airfare from our travel Agencies must be entered online by 5:00pm Wednesday, June 20.

18. Accounting – Contact Us Controller’s Website –http://www.uncw.edu/controller/ Look for Year End Documentation for 2012 with specific contact information here: –http://www.uncw.edu/finance/YearEnd_Info.html

19. Purchasing Year End

20. Purchasing - Receiving Receiving and invoices required for payment by June 22 nd Receiving must be completed as soon as goods/services received Do not enter receiving if goods/services not received uShop – “Receipt” entered into uShop

21. Purchasing - Receiving

23. Purchasing - Invoices All invoices must be sent to Accounts Payable for payment processing by June 22 nd May email to accountspayable@uncw.edu Departments needing copies of invoices for files – make copy before forwarding to Accounts Payable

24. Purchasing - Encumbrances Purchasing Responsibilities –Expediting for delivery of as many PO’s as possible by June 22 nd deadline –Reviewing and processing PO cancellation and liquidation requests –Processing current year PO’s using non- general funds for emergencies and research –Processing Future PO’s –Identifying PO’s with “0” balances for closure –Identifying PO’s with remaining balances for closure and liquidation

25. Purchasing - Encumbrances Departmental Responsibilities –Monitor for PO’s with open encumbrances Needs receiving Needs invoice Order Complete, need to close and liquidate  Email: Susan Suits at suitss@uncw.edu –Reports To Use Banner –FGIENCD –FOIDOCH SSRS –Open Encumbrance Report – Financial Reports>Campus Reports>Reconcilliation Reports>Open Encumbrances

26. Purchasing – uShop Reports

28. Purchasing – uShop Year End Saved Reports

30. Purchasing - Encumbrances Standing Orders –Departments need to submit invoices prior to June 22 nd to Accounts Payable –Purchasing will liquidate all orders with Delivery Date June 30 or prior before Year- End Roll –Purchasing will rollover Non-General Fund Orders with Delivery Date after June 30 –Delivery Date based upon “time period” as specified on Standing Order Form

31. Purchasing – Future Requisitions Future Requisition –Special needs requiring early July delivery –Must be ordered prior to July 1 –Will be received after July 1 Will be processed on a case-by-case basis For further information: –http://www.uncw.edu/purchasing/FY12Year-EndInformation.html