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FISCAL YEAR END DEADLINES 2018

FISCAL YEAR END DEADLINES 2018. Barb Shafer – Business Services Heather Hanna – Financial Services. Cash Balances. All funds must have positive cash balances by June 5, 2018 . To verify your fund balance, go to FGITBSR in Banner and put in your fund.

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FISCAL YEAR END DEADLINES 2018

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  1. FISCAL YEAR ENDDEADLINES2018 Barb Shafer – Business Services Heather Hanna – Financial Services

  2. Cash Balances • All funds must have positive cash balances by June 5, 2018. • To verify your fund balance, go to FGITBSR in Banner and put in your fund. **Please note that you do not need to check fund balances on general operating funds (funds beginning with 61xxxx). • Please contact Rebecca Emter at x1682 if you have any questions or need additional information.

  3. Expenditure/Revenue/Payroll Corrections: • All requests for journal corrections to be made for FY18 should be received in Financial Services office on or before 5:00 PM July 5, 2018. The Finance Expenditure Correction form can be found Online at: http://www.msubillings.edu/FinancialServices/forms/ExpenditureCorrectionRequest.pdf • Please contact Rebecca Emter at x1682 if you have any questions or need additional information. • All ETF’s for payroll corrections for FY18 should be submitted to Financial Services/Payroll by July 5, 2018.

  4. Warrant Cancellation • Any known payment that needs to be canceled should be received in Business Services by 11 AM June 12thin order to get them processed before the state cutoff.

  5. Change Fund Reconciliation • Any Department with approved change funds. Reconciliation of those funds is required by June 29th. • If you do not have an approved change fund make sure any campus money is deposited by Noon on June 29th.

  6. Cash Deposit/Refunds • All cash deposits must be receipted in the Business Services, Cashier window by NOON, Friday June 29th.

  7. Invoices/BPA’s/Travel Reimbursements • Vendors: All invoices with BPAs (Banner Payment Authorizations) must be received by Business Services, Accounts Payable, by Noon, July 6th. • Please process invoices as soon as possible before June 29th; this will greatly reduce “last day” workloads and the number of accruals. • Please anticipate your needs early and order accordingly; acquire items only in a reasonable quantity that will be consumed in the current fiscal year.

  8. Purchasing Cards PCARD Transactions: ** Purchases Made in June on the PCard are not guaranteed to process in time for FYE closing** • June P-Card Dates • Last Day to Charge: Thursday, June 21st. • See Those Charges in Banner no later than: Monday,June 25th, after 8:15 AM • All Charges for this cycle MUST be posted in Banner by:  NOON, Tuesday, June 27th • June 13th Month P-Card Dates • Last Day to Charge: Friday, June 29th • See Those Charges in Banner by: Tuesday, July 3th, after 8:15 AM • All Charges for this cycle MUST be posted in Banner by: NOON, Thursday, July 5th

  9. Accruals • Accruals are processed for expenditures to outside sources for which the goods or services were ordered in FY18 but have either not been received or have not been paid. • There are two Types of Accruals. • A Accrual • B Accrual

  10. Accruals Continued…. • It is especially important that you answer the question “Were goods or services received on or before June 30th?” • If your answer to this question is “no”, you have an “A” accrual. The goods and services were received ‘A’fter June 30th. • “A” accruals will only be recorded for expenditures using General Operating funds, as they are needed only for state budget purposes. • “A” accruals will only be processed for purchases greater than $1,000. • If your answer to this question is “yes”, you have a “B” accrual, the goods and services were received ‘B’efore June 30th.

  11. Accruals Continued…. • If an invoice is not received by June 30th, please use the following guidelines for all departments, regardless of funding source: • Purchases valued at less than $1000 will not be accrued. • Business Services will automatically review the PO’s and DPO’s on file and research if any need to be accrued. • Submit and/or contact Business Services about any outstanding order(s) or payments.

  12. Purchase Order/DPO Schedule • The following Purchase Order (PO)/DPO cutoff dates have been coordinated with the State Procurement Bureau to synchronize with the processing times and deadlines set by the State of Montana. If you need to make purchase before the end of Fiscal Year 2018 Please Note: All dollar amounts shown represent Total Contract Value (TCV), which includes the value of any potential renewals.   • Other than controlled commodities, MSU-Billings Purchasing has the authority to process Requisitions with a total contract value (including renewals and options) up to $150,000.  If the TCV of the PR/DPO exceeds $150,000, we will send a Requisition to the MSU Bozeman Procurement Services for processing.   PURCHASES FOR CURRENT FISCAL YEAR, FY 2017 • Purchases exceeding $150,000 will need to go through MSU Bozeman, as MSU Billings cannot spend over this amount within its delegated authority. If you have something of this magnitude on the horizon, please contact Business Services immediately. • Other Purchases (valued under $150,000) need to be turned in to Purchasing according to the following timetable to ensure adequate time for bids to be awarded: • Procurements that require Competitive Bidding: IFB - Wednesday, April 25th , RFP – Thursday, March 29th • Procurements that do not require a competitive process (Sole Source, procurement exempt, etc.): Friday, June 1st

  13. Future Purchases • PURCHASES FOR NEXT FISCAL YEAR FY 2019 • Purchase Order’s/DPO’s involving FY 2019 funds may be sent prior to July 1, 2018; however, the Department must indicate the following on the Purchase Request: NOTE:  THIS IS A JULY FY2019 ORDER.

  14. March 30, 2018: Purchases over $5,000 that require Competitive Bidding. • RFP March 30th • IFB April 20th • June 1, 2018: Purchases over $5,000 that do not require Competitive Bidding. • June 1, 2018: Technology Equipment Purchases • June 5, 2018: Positive Cash Balances • June 12, 2018: Warrant Cancellations • June 11, 2018: Purchases under $5,000, This will include purchases through eMarket • June 11-14, 2018: Copy Room & Print Shop Orders **** • June 21, 2018: Credit Card Purchases • June 29, 2018: Deposits and Receipts and Change Fund Reconciliation • July 6, 2018: Vendor Payments for FY 2018, Accruals, Travel Reimbursements, Expenditure/Revenue/Payroll Corrections, Budget Adjustments. *** ALL DATES ARE TENATIVE TO CHANGE ***

  15. Questions • Business Services – Jill Brown 657-2151 • Financial Services – Rebecca Emter 657-1682 • Budget Office – Dean Hanson 657-1680

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