Year End Reminder

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Year-end processing is quickly approaching.  Key closing dates and deadlines are outlined below. Budget managers should make note any expense occurring after May 15, 2019 that is not encumbered is not guaranteed to be paid.

 

May 15

  • Last day individual program/department balances may be spent
  • Last day to make purchases with P-Cards.  Purchasing cards will be deactivated at midnight on Wednesday, May 15th.
  • Last day to submit a requisition in ePro.
    • If you are approved for year-end spending, you will be contacted by Cynthia Parker for further instructions.
    • If you are planning to make a purchase before this date, please allow ample time for the purchase to be processed. Pay special attention to large expenditures that require bidding or special processing. Items that require bidding must be submitted to Cynthia Parker no later than Monday, April 8th.
  • Budget managers must report any prior financial commitments that have been made which will require payment to be processed prior to July 1st to Accounts Payable on the attached FY19 Year End Expenses spreadsheet.  Spreadsheets should be sent via e-mail to accountspayable@highlands.edu .
    • Things that “show up” for payment without notification will be processed in July and will be charged to your FY2020 budget
    • Common expenses that would occur after 5/15 would be postage and copy charges.

 

May 30

  • P-card users should complete their reconciliations, sign off on their statements, and submit their report with receipts no later than noon.
  • Any item you’ve already ordered but is not on your bill should be written down and sent to procurement via campus mail along with your May statement and an email notification to cparker@highlands.edu detailing the budget impact.
    • Any p-card transactions that “show up” after this date and have not been reported in advance, as indicated above, will be charged to your FY 2020 budget.

 

May 31

  • Expense reports for any travel ALREADY COMPLETED BY THIS DATE must be submitted.  Even if you travelled on May 30, you need to submit an expense report by May 31.
  • Travel that takes place BETWEEN May 31 and June 30 cannot be reported directly within the financial system and will require a paper expense report (attached in this email).

 

June 14

  • Last date to submit a paper travel expense report for Fiscal Year 2019.
    • Travel that takes place OR IS REPORTED after this date will be processed in the new fiscal year and will be processed in the second half of July.  This delayed reimbursement process can have an impact on personal finances.  Please make sure your travelers are aware of this timing.

June 19

  • All petty cash receipts must be submitted by this date to the Business Office. Petty cash purchases submitted after this date will be charged to FY 2020.

 

June 25

  • All departmental deposits must be received in the Business Office by noon on June 25, 2019. Any deposit received after this date will be posted in FY 2020.

 

June 30

Banner will be unavailable to allow close out for Fiscal Year 2019.  The system will be available again July 1st.