Fiscal Year End Processing

Fiscal Year End Processing

Fiscal Year End 2015

 

 

Please take note of the new items for 2015:

  • June 16, 2015 will be the last day for departments to submit reimbursement requests to UCF Foundation for payment before fiscal year end.
  • No later than July 16, 2015, we are requesting that all departments submit unpaid invoices or estimates for goods or services received by June 30, 2015, that are greater than or equal to $10,000. As further explained below, these invoices and estimates will be used for financial statement accruals.

Liabilities should be accrued for financial reporting purposes when unpaid goods or services are received on or before June 30, 2015. Therefore, during your review of purchase orders rolling to FY2016, please take the following actions for purchase orders (for BOTH departments and Projects) equal to or greater than $10,000:

  1. Review when goods have been received. If shipping was involved, consider it an item for submission for accrual purposes if the item was shipped prior to June 30, 2015. Please note that this may not necessarily be the date of the invoice.
  2. Review when services have been performed. If the service period crosses fiscal years (i.e. includes periods both before and after June 30), then consider it an item for submission for accrual if any of the service was performed in FY2015 (on or before June 30, 2015).
  3. Contact the vendor to get an invoice. You are encouraged to start this process now if you know you have received goods or services for which you have not yet received an invoice.
  4. No later than July 16, 2015, forward UNPAID invoices that meet the conditions above to Laura Crouch in Vendor’s Payable. If an invoice is not available, please forward an estimate including documentation such as a purchase order or vendor quote to support the estimate.

NOTE: These items will NOT be paid based on your submission. This is a submission for financial reporting purposes only. Therefore, all typical approvals obtained prior to payment are not required. This submission will NOT affect your budget. Accruals recorded based on your submissions will NOT appear in DataMart or Budget Position Reports.

For further information, please contact Ann Boutros at 407-882-1061 or Brad Hodum at 407-882-1005 in Finance and Accounting.

 

PO Open Encumbrances as of:

The open encumbrance spreadsheets shown above provide data as of the date given. For up to date information, run the UCF Financials public query FXPO_PO_OPEN_ENC. Key your department or project number (or a portion of it followed by a percent sign %). The original PO line amount as well as the current balance will show, along with other helpful pieces of information.

 

POs Previously Rolled as of:

The previously rolled PO spreadsheets shown above provide data as of the date given. For up to date information, run the UCF Financials public query FXPO_POROLL_PREVIOUSLY_ROLLED. Key your department or project number (or a portion of it followed by a percent sign %). The original PO line amount as well as the current balance will show, along with other helpful pieces of information.

 

POs Rolled to FY2016 as of:

 

POs Rolled to FY2016 in Budget Error as of: