To: Deans, Directors and Department Chairs; University Business Managers; Campus Unit Finance Leads
From: Manali Bettendorf, University Controller
The purpose of this memorandum is to provide information regarding fiscal year-end procedures and critical campus-wide and statewide due dates for a successful fiscal year-end closing on June 30, 2024.
Please note that these dates will vary compared to previous fiscal year-ends. It is imperative that all appropriate invoices, vouchers and transactions are submitted in a timely manner and only crucial and approved future purchases and expenditures are incurred.
As in past years, all fiscal year-end information will also be posted on the 2024 Fiscal Year-End webpage (go.unc.edu/FYE). Thank you for your stewardship in managing the University’s resources wisely and effectively.
Processing, Deposit and Payroll Dates
| Date | Action Needed |
|---|---|
| May 3 | Last day for submitting new or amended Independent Contractor requests in ConnectCarolina for payments due by June 30. |
| May 10 | Last day to submit Foreign Supplier requests to vendor_coordinator@unc.edu, including appropriate documentation, for payment due by June 30. |
| May 17 | Last day to complete Central Airfare Billing System (CABS) ticket transactions to ensure inclusion in fiscal year 2023-2024 (travel agent must complete ticket purchase by May 17). All CABS ticket transactions completed June 1 or later will be billed in fiscal year 2024-2025. Please note, this does not apply to travel for faculty and staff initiated in Concur Request. |
| May 17 | Last day for submitting Domestic Supplier requests in ConnectCarolina, including appropriate documentation, to ensure supplier is set up in time to submit vouchers by the May 24 voucher deadline. |
| May 24 | Last day for campus vouchers to be approved by departments in order to be processed by Accounts Payable and paid or accrued (goods marked as received but held for payment) in fiscal year 2023-2024.
Campus vouchers not yet approved by the department in voucher workflow or with budget or chartfield errors will be deleted at 5 p.m. Vouchers denied prior to May 20 and not corrected and resubmitted will also be deleted. You can still enter campus vouchers after May 24, but they will be held and processed after July 1 in fiscal year 2024-2025. |
| May 24 | Last day for requisitions to be approved by departments and the Office of Sponsored Programs (OSP) if required to be sourced to the vendor in fiscal year 2023-2024. If the requisition needs OSP approval, please submit it by May 23 to give OSP time to approve it before the Friday deadline.
Requisitions not yet approved by the department and OSP if required in requisition workflow or with budget or chartfield errors will be deleted at 5 p.m. You can still enter requisitions after May 24, but they will be processed under fiscal year 2024-2025. (For requisitions entered after May 24, receiving and invoicing will not be allowed until after July 1 in fiscal year 2024-2025.) |
| May 24 | 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 May 24 will not be processed until after July 1 in fiscal year 2024-2025.
Invoices for change orders and requisitions created after this date should be held and submitted via the Vendor Invoice Submission Page (VISP) after July 1. If submitted prior to July 1, they will be deleted as part of the year-end process. |
| May 24 | 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 2023-2024. |
| May 24 | Last day for BuyCarolina vendor catalog invoices to be billed in fiscal year 2023-2024, which includes these vendors: Airgas, Agilent, Amazon Business, Apple, Applied Industrial, ARC3, Benco Dental, Bio-Rad, CDW-G, Dell, Fastenal, Fisher Scientific, Grainger, Graybar, Life Technologies, Mayer Electric, MSC, New England BioLabs (NEB), Patterson Dental, Perkin Elmer, Promega, Roche, Sigma-Aldrich, Staples, Genesee, QIAGEN, Storr, Lenovo, Software Distribution, Ferguson, Henry Schein, Abcam, Illumina, Cell Signaling, Lowe’s and VWR.
Please plan ahead for purchases that will be needed during June. Most invoices take two or three business days to be received. If we do not receive the electronic invoice by May 24, it will be paid from fiscal year 2024-2025 budgets. There is no suspension in purchasing or service for BuyCarolina. |
| May 31 | Last day to submit refund requests for OSP projects. |
| May 31 | Last day to approve Concur Expense Reports in current fiscal year. Expense Reports must be received by Travel Services as of this date for review and final approval. Reports approved by Travel Services will be posted in fiscal year 2023-2024. Concur Expense Reports received by Travel Services after this date will be held and posted in fiscal year 2024-2025.
Please note, this includes reconciliation of Travel Cash Advances, T&E Card Transactions and Airfare Direct Bill transactions which must be reconciled in Concur Expense. |
| May 31 | Last day for Web Travel reimbursements to be processed in current fiscal year.
Reimbursements must be received by Travel Services as of this date for review and final approval. Reimbursements approved by Travel Services will be posted in fiscal year 2023-2024. Reimbursements received by Travel Services after this date will be held and posted in fiscal year 2024-2025. |
| June 13 | Last day to submit invoices on purchase orders (valid budget and no match exceptions) to Accounts Payable to ensure payment in fiscal year 2023-2024, and last day to complete online receiving to ensure payment in fiscal year 2023-2024. Please hold fiscal year 2024-2025 purchase order invoices to be submitted after July 1 in fiscal year 2024-2025. |
| June 20 | Last day to reconcile P-Card transactions (in Works) for the June billing cycle (May 16 – June 15).
As a reminder, this is the normal process for the monthly billing cycle. All transactions will be swept and the chartfield string cannot be updated in Works after this date. |
| June 21 | Last day to review/update the chartfield strings on charges in Customer Billing Management (CBM). |
| June 21 | Last day to reconcile and approve P-Card transactions (in Works) for the July billing cycle, for posting in current fiscal year. Daily P-Card transactions approved after this date will be held and posted in fiscal year 2024-2025. P-Card Journals will not be created between June 23 and June 30.
As a reminder, this only applies to transactions with a post-date of June 16 – June 21; for transactions posted prior to June 16, see June 20 deadline above. |
| June 28, 5 p.m. | Purchase orders will be rolled into the new fiscal year. Please do not attempt to access requisitions and purchase orders between 5 p.m. June 28 and 8 a.m. July 1. |
| Date | Action Needed |
|---|---|
| May 1 | Last day to submit Program and Cost Code inactivation requests for the current fiscal year. Any requests submitted after this date, or deemed not cleared for inactivation, will be held and processed after the fiscal year closes in July. |
| May 30 | Last day for Facilities Services to submit Capital Improvements (CI) Certificates of Participation (COPs) vouchers and purchase orders for payment. Final pay cycle, as per Office of the State Controller/Office of State Budget and Management (OSBM) schedule, will be June 7. |
| May 31 | Last day for Facilities Services to submit valid journal entries for CI funds. |
| June 4 | Last day for Facilities Services to submit CI Non-COPs vouchers and purchase orders for payment. Final pay cycle will be June 7. |
| June 14 | Last day to submit department-approved budget journals (valid budget with no exceptions) for all Trust Funds. |
| June 14 | Last day to submit department-approved journal entries involving OSP funds (Fund 252xx) to OSP for approval, with the exception of OSP cash advance reconciliation journals, for which the deadline is extended to June 21. |
| June 14 | Last day to submit Source create requests for the University and foundations, and new General Ledger (GL) Accounts to be established before June 30. |
| June 14 | Last day to submit requests for new chartfields (including Program and Cost Codes) to be established before June 30. |
| June 14 | Last day to submit requests for changes to Associated Budgets table to be established before June 30. |
| June 14 | Last day to submit transfers or disbursements to other state agencies that are processed through North Carolina Financial System (NCFS) / Department of State Treasurer, such as Dual Employment, HCS payments and UTS payments. |
| June 17 | Last date to submit approved (pre-audited) international wire payments for processing in fiscal year 2023-2024. |
| June 20 | Last date to submit approved (pre-audited) domestic wire payments for processing in fiscal year 2023-2024. |
| June 21 | Last day to submit online cash advance settlement journal entries (OSP and Trust Funds). |
| June 21 | Last day to submit department-approved valid journal entries (departmental, foundations, central offices as appropriate) for all funds. For Journal entries involving OSP funds requiring OSP approval, please see June 14 deadline above. |
| 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 June date will receive a system-generated error if entered beyond June 30, 2024. |
| 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. |
| Date | Action Needed |
|---|---|
| June 11, 5 p.m. | All Payroll Accounting Adjustment Tool (PAAT) transactions for non-June payroll must be fully approved through department workflow. |
| June 24, 5 p.m. | All PAAT transactions for June payroll must be fully approved through department workflow. PLEASE NOTE: Given the timing of Biweekly 26 and other year-end considerations, there will not be an opportunity to adjust B25 transactions in fiscal year 2023-2024. |
| June 28, 5 p.m. | All funding source changes must be submitted and fully approved to be included in rollover to fiscal year 2024-2025. Unapproved funding source changes will not get rolled and will need to be re-entered in fiscal year 2024-2025. (Please do not approve ePars from 5-10 p.m. June 28 while the rollover is processing.) |
| Date | Action Needed |
|---|---|
| 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. Budget Journals submitted on this date should be predated to June 1. |
| June 21 | 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 Facilities and Administrative (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. |
| Date | Action Needed |
|---|---|
| June 28, noon | Cash and check deposits must be received by noon. All deposits for credit card payments settled on June 27 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 2024. |
| June 28, 10 a.m. | All deposits for credit card payments settled on June 27 or before must be submitted via the Departmental Deposit System in ConnectCarolina by noon on June 28. Deposit of payments settled on June 28 must be made no later than noon on July 1.
See Student Account Considerations for student account deposit information. |
| Date | Action Needed |
|---|---|
| June 28, noon | All OSP deposits must be completed and submitted via the Departmental Deposit System in ConnectCarolina. Cash and check deposits must be delivered to the Cashier’s Office by 2 p.m. |
| Date | Action Needed |
|---|---|
| June 28, noon | Cash, check and credit card gifts must be received in University Development by noon to be processed and deposited for the 2023-2024 fiscal year. |
| Date | Action Needed |
|---|---|
| June 19 | Last day to enter GradStar awards for processing in fiscal year 2023-2024. |
[Note that 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].
Please note that Summer School payments will now follow the monthly payroll schedule. 2024 Summer School Session I will follow the M12 deadlines, and Summer School Session II will follow M01 deadlines.
| Date | Actions Scheduled |
|---|---|
| May 10 | Lockout for Biweekly B22 payroll paid May 17. |
| May 22 | Lockout for Biweekly B23 payroll paid May 31. |
| May 22 | Lockout for May Monthly payroll paid May 31. |
| June 7 | Lockout for Biweekly B24 payroll paid June 14. |
| June 17 | Lockout for June Monthly payroll paid June 28. |
| June 20 | Lockout for Biweekly B25 payroll paid June 28. |
| July 5 | Lockout for Biweekly B26 payroll paid July 12. |
| July 19 | Lockout for Biweekly B01 payroll paid July 26. |
| July 23 | Lockout for July Monthly paid July 31. |
| Aug. 2 | Lockout for Biweekly B02 payroll paid Aug. 9. |
Other Considerations
If the receiving has not been entered into the system, payment cannot be made, and the purchase order will be charged against 2024-2025 budgets. Likewise, if the original vendor invoice is not received, payment cannot be made, and the purchase order will be charged against 2024-2025 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. Accounts Payable 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 May 24 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 University Controller Manali Bettendorf or Associate Controller Chandrika Rao. If funds from University-related foundations on deposit in other accounts will be used to fund expenditures for fiscal year 2023-2024, the funds transfer request should be submitted by May 24. If you anticipate a request to carry forward a deficit, please notify University Controller Manali Bettendorf or Associate Controller Chandrika Rao as soon as possible but no later than May 31, 2024.
Departmental imprest checking account administrators should report their list of uncashed checks from the previous fiscal year to University Cash Manager Brett Kenney no later than July 12, 2024.