Year end memo

As you are aware, the University’s fiscal year closes on June 30, 2019. In order to facilitate an orderly close to the fiscal year, deadlines have been established for completing financial transactions. Departments should check with their dean to determine if the colleges have imposed earlier deadlines. The last day to post any FY2019 transactions is end of business July 22, 2019. Please make sure all transactions are processed by all approvers and in the Controller’s inbox by the deadlines noted below, many of which are before this deadline.

Note: Transaction approvers that will be out of the office during the year-end close process must delegate their Workday inbox in order for transactions to post to the correct accounting period by the timelines noted below.

As part of the year-end closing process, budget managers need to ensure sufficient funds remain in state accounts to cover June phone, postage, copying and any other expenses that will be charged to the FY2019 state accounts during June and the closing period. When planning for year end, remember that due to the pay date shift, the July 10th pay date will post to FY2020, not the June accounting period of FY2019. Employees paid monthly will have salaries related to June (including overloads) post on the first working day of July in FY2020. Negative balances in state accounts may be cleared by transferring expenses to non-state accounts prior to the close of the 2019 June accounting period on July 22, 2019. The last day to process Payroll Accounting Adjustments (PAAs) for FY2019 is July 15, 2019. Please have all PAAs relating to FY2019 into the Controller’s Workday inbox no later than July 15th, including PAAs associated with cleaning up of FD892.

Please carefully review the following information for dates to submit Workday accounting, budget and procurement transactions to the appropriate offices’ inbox.

Special note for State Grants ending June 30, 2019

The deadline to process PCard transactions, journals, accounting adjustments, travel requisitions and PAA’s is 6/15/19 so that Sponsored Projects has sufficient time to process the final invoice after 7/10/19 when the classified payroll posts. Any expense which posts after 7/10/19 will have to be moved off the grant and in accordance with deadlines noted in this memo.

Pcard purchases with grant worktags should be verified individually by grant. This will limit the effect on other grants if there is a problem, and the transaction needs cancelled or is delayed.

Thank you for your cooperation during this year-end process.

If you have any questions, please call the Controller’s office at 775-682-6104 or 775-784-1584.