To: Deans, Directors and Department Chairs, University Business Managers, Campus Unit Finance Leads
From: Stephen Agostini, Associate Vice Chancellor for Finance and Budget
The purpose of this memorandum is to provide information concerning the year-end procedures and the dates that documentation must be received for payment in the fiscal year ending on June 30, 2019. It is important that these deadlines be met to ensure use of your 2018-2019 budgets rather than your 2019-2020 budgets.
Please note, Monday, July 1, is the first business day of the new fiscal year, and Thursday, July 4, is a University holiday. It is imperative that you ensure sufficient staff are available during this week to respond to questions and make adjustments as required related to the close.
|May 20||Last day to complete Central Airfare Billing System (CABS) ticket transaction for inclusion in fiscal year 2018-2019 (travel agent must purchase ticket by May 20).|
|May 30||Last day for submitting requests for new or updated Independent Contractor agreements for payments due by June 30.|
|June 12||Last day for e-commerce purchases to be billed in fiscal year 2018-2019.|
|June 12||Last day to submit refund requests for OSR projects.|
|June 14||Last day for campus vouchers to be approved by departments in order to be processed by Accounts Payable and paid in fiscal year 2018-2019.
Campus vouchers not yet approved by the department in voucher workflow or with budget errors or chartfield errors will be deleted at 5 p.m. You can still enter campus vouchers after June 14, but they will be held and processed after July 1 in fiscal year 2019-2020.
|June 14||Last day for requisitions to be approved by departments in order to be sourced to the vendor in fiscal year 2018-2019.
Requisitions not yet approved by the department in requisition workflow or with budget errors or chartfield errors will be deleted at 5 p.m. You can still enter requisitions after June 14, but they will be processed in fiscal year 2019-2020. (For requisitions entered after June 14, receiving and invoicing will not be allowed until after July 1.)
|June 14||All change orders to existing purchase orders must be submitted and approved by this date. Any change order requests submitted and approved by departments after June 14 will not be processed until after July 1 in fiscal year 2019-2020.|
|June 14||Last day for independent contractor and travel reimbursement payments to be approved by departments, including appropriate documentation to Accounts Payable, to ensure payment in fiscal year 2018-2019.|
|June 14||Last day to submit invoices on purchase orders (valid budget and no match exceptions) to Accounts Payable to ensure payment in fiscal year 2018-2019, and last day to complete online receiving to ensure payment in fiscal year 2018-2019.|
|June 14||Last day for ePro vendor catalog invoices from Airgas, Agilent, Amazon Business, Apple, Applied Industrial, ARC3, BioRad, CDW-G, Dell, Fastenal, Fisher Scientific, Grainger, Graybar, Life Technologies, Mayer Electric, MSC, Perkins Elmer, Roche, Sigma Aldrich, Staples, Genesee, Qiagen, Storr, Lenovo, Software Acquisition and VWR to be billed in fiscal year 2018-2019. Please plan ahead for purchases that will be needed during June. If the vendor does not send the invoice by that date, it will be paid from fiscal year 2019-2020 budgets. There is no suspension in purchasing or service for e-Procurement.|
|June 19 4 p.m.||Last day for reconciling and posting P-Card transactions in current fiscal year. Daily P-Card transactions after this date will be held and posted in fiscal year 2019-2020.|
|June 21||Last day to review/update the chartfield strings on charges in Customer Billing Management (CBM).|
|June 28 5 p.m.||Purchase orders will be rolled into the new fiscal year. Requisition and purchase orders will not be available until Monday, July 1, due to the weekend and rollover. Please do not attempt to access requisitions and purchase orders between 5 p.m. June 28 and 8 a.m. July 1.|
|May 24||Last day for Facilities to submit Capital Improvements (CI) COPS (Certificate of Participation) vouchers and purchase orders for payment. Final pay cycle, as per Office of State Controller/Office of State Budget Management schedule, will be June 7.|
|May 30||Last day for Facilities to submit valid journal entries for CI funds.|
|June 5||Last day for Facilities to submit CI Non- COPS (Certificate of Participation) vouchers and purchase orders for payment. Final pay cycle will be June 12.|
|June 14||Last day to submit departmentally-approved budget journals (valid budget with no exceptions) for fiscal year 2018-2019 for all Trust Funds including those with Contractual Agreements (Contract Trusts), Recharge Centers and Internal Service Funds.|
|June 14||Last date to submit requests for new Source Create and new General Ledger (GL) Accounts to be established before June 30.|
|June 21||Last day to submit online cash advance settlement journal entries (OSR and Trust Funds).|
|June 21||Last date to submit transfers or disbursements to other state agencies that are processed through NC Cash Management Control System (CMCS) / NC Department of State Treasurer, such as Dual Employment, HCS payments and UTS payments.|
|June 21||Last date to submit approved (pre-audited) outgoing foreign wire transfer in foreign currency instructions for payment processing in fiscal year 2018-2019.|
|June 21||Last day to submit departmentally-approved valid journal entries (departmental, foundations, central offices as appropriate) for all funds.|
|June 21||Last date to submit DCB (Journal Imports) batches for all funds.|
|July 1||State Fund combo edit rule will be in effect. Journals entered on State Funds with a FY 2019 date will receive a system-generated error if entered beyond June 30, 2019.|
|July 1||First business day of July. Please ensure sufficient staff are available to respond to questions and make any required adjustments related to the year close.|
|June 20 5 p.m.||All PAAT (Payroll Accounting Adjustment Tool) transactions for non-June payroll must be fully approved through department workflow.|
|June 25 Noon||All PAAT (Payroll Accounting Adjustment Tool) transactions for June payroll must be fully approved through department workflow.|
|June 28 5 p.m.||All funding source changes must be submitted and fully approved to be included in rollover to fiscal year 2019-2020. Unapproved funding source changes will not get rolled and will need to be re-entered in fiscal year 2019-2020.|
|May 24||Last day to submit budget journals for State Receipt Budget changes to Budget Planning and Analysis (BP&A). This is to allow OSBM ample time to approve by fiscal year end.|
|June 27||Last day to submit budget transfers for State Funds that require central office approval. Please be aware some State budget transfers do not route to central office for approval and posting; it will be up to you to monitor and see that those are approved and posted. (See “pending” at the Approval Header Status.)|
|June 28||Last day to post departmental-only routing budget transfers for State and F&A funds that do not require BP&A approval and posting. Please correct any errors for transactions you need posted. F&A budget transactions do not route to central office for approval and posting; it will be up to you to monitor and see that transactions have been approved and posted.|
|June 28 4 p.m.||Deletion process will begin for June-dated budget transfers/journals not posted. June budget transactions in the BP&A worklist that do not require prior OSBM approval will be posted before the delete process.|
Departmental Deposit Dates
|June 28 Noon||Cash and check deposits must be received by Noon. All deposits for credit card payments settled on June 27, 2019, and prior should be submitted via the Departmental Deposit System in ConnectCarolina by Noon. NOTE: Cash/check deposits submitted with errors cannot be processed until corrected. If the corrections are not processed in time, they will not be included in June 2019.|
|July 1 10 a.m.||All deposits for credit card payments settled on June 28, 2019, must be submitted via the Departmental Deposits System in ConnectCarolina. June 28 credit card payments will be recorded in July 2019.
Campus departments billing through the student account MUST delay posting of Fall semester charges until Monday, July 1, 2019, or later. The effective date of these campus department charges must be July 1, 2019, or later to ensure proper cutoffs.
|June 28 Noon||All OSR deposits must be completed and submitted via the Departmental Deposits system in ConnectCarolina. Cash and Check deposits must be delivered to the Cashier’s Office by 2 p.m.|
|June 28 Noon||Cash, check and credit card gifts must be received in University Development by Noon to be processed and deposited for the fiscal year.|
|May 15||Lockout for Biweekly B23 payroll paid May 24|
|May 22||Lockout for May monthly payroll paid May 31|
|May 31||Lockout for Biweekly B24 payroll paid June 7|
|June 12 11 a.m.||Lockout for Summer Session I payroll paid June 20|
|June 13||Lockout for Biweekly B25 payroll paid June 21|
|June 18||Lockout for June Monthly payroll paid June 28|
|June 27||Lockout for Biweekly B26 payroll paid July 5|
|July 12||Lockout for Biweekly B01 payroll paid July 19|
|July 17 11 a.m.||Lockout for Summer Session II payroll paid July 30|
|July 22||Lockout for July Monthly payroll paid July 31|
|July 26||Lockout for Biweekly B02 payroll paid August 2|
[Payroll dates refer to the lockout dates, beginning at noon unless otherwise stated. Departments should allow for sufficient time for approval routing for personnel actions].
All purchases in excess of $5,000 require competition. Any requirement for purchases in excess of $5,000 should be identified and subsequently approved prior to or no later than May 15 to ensure arrival prior to June 30 enabling payment by the end of the fiscal year. Regular purchase orders may be canceled by creating a new requisition asking for a change. Purchase orders that are not canceled or used will be carried forward to the new fiscal year and will obligate 2019-2020 budgets.
Carolina Computing Initiative (CCI) orders are custom, so no specific date can be provided. We urge the placement of these orders as soon as possible.
Accounts Payable Considerations
If the receiving has not been entered into the system, payment cannot be made, and the purchase order will be charged against 2019-2020 budgets. Likewise, if the original vendor invoice is not received, payment cannot be made, and the purchase order will be charged against 2019-2020 budgets. Incomplete documentation may delay your payment request; be certain that the item is fully documented before submitting it for processing. Payment cannot be made before the receipt of goods or services so do not indicate receipt of materials not received in order to use available funds or for any other reason. Disbursements will make every effort to pay all items received by the stated deadline with valid budget and no match exceptions.
Cash deficits in institutional trust and special fund accounts must be funded by June 21 through collection of receivables, transfers from other funds or other appropriate methods. Cash deficits may not be carried forward to the new fiscal year without approval of the Senior Director of Accounting Services. If funds from University-related foundations on deposit in other accounts will be used to fund expenditures for fiscal 2018-2019, the funds transfer request should be submitted by June 21. If you anticipate a request to carry forward a deficit, please notify the Senior Director of Accounting Services as soon as possible, but in no event later than June 25, 2019.
State Budgeting Considerations
Sufficient budget balances or cash balances must be available to cover all disbursements from University accounts. The State does not allow deficits in any expenditure account. You should review your available budget balances on your monthly reports so all disbursements can be properly funded. Because every effort is being made by Accounts Payable to pay all payables by year end, the ending state balance in ConnectCarolina should be on, or close to, a cash basis. Thus a unit’s ending balance in ConnectCarolina will be the appropriate number for carry forward, and any exceptions for items not paid will be reviewed by central offices for appropriate disposition. Units are reminded that carry forward is subject to approval by OSBM.
To comply with G.S. 147-77 and University policies, all departmental receipts must be deposited daily. Do not hold deposits for the new fiscal year. Delaying the deposit of University funds is a violation of State statutes. The daily deposit for electronic credit card receipts for 2018-2019 should be provided to the University Cashier no later than noon on June 28 via the Online Departmental Deposit System. If the person assigned with this responsibility is not at work on June 28 and July 1, then the department is required to take appropriate measures to get the deposit entered by noon.
The last biweekly payroll posted in the current year will be for the period ending June 9 (paid on June 21). The June monthly payroll will be paid on June 28. Specific deadlines for the Summer Session payrolls have been established. (See year-end deadlines.) The Summer Session payroll dates are May 16 to June 20 for Session I and June 24 to July 31 for Session II.
Every effort will be made to effectively and efficiently use the University’s resources. Your assistance in processing documents, monitoring your budgets and purchase orders, and adhering to deadlines is very important. As in past years, all fiscal year-end information will be posted on the 2019 Fiscal Year End webpage (go.unc.edu/FYE). Thank you for your cooperation.