Year-End Memo

FISCAL AFFAIRS
Maureen Pasag, Associate Vice President
1600 Holloway Avenue, ADM 350
San Francisco, CA 94132

Phone: 415/338-2599
Fax: 844/867-1073
Web: fiscaff.sfsu.edu

 

DATE:              April 12, 2016

 

TO:                  Deans, Directors & Other Campus Administrators

 

FROM:             Maureen Pasag, Associate Vice President of Fiscal Affairs

 

SUBJECT:         FISCAL YEAR 2015/16 CLOSE

____________________________________________________________________________

 

The process of closing the accounting books for FY 2015/16 has begun.  Key closing dates and important deadlines are outlined below.  Please take special notice of the information contained in this memo, and share it with your staff and others that you deem appropriate.  If you have questions or need further information, please contact Bon Bitonio, University Controller, at extension 8-2582.

The process of closing the accounting books for FY 2015/16 has begun.  Key closing dates and important deadlines are outlined below.  Please take special notice of the information contained in this memo, and share it with your staff and others that you deem appropriate.  If you have questions or need further information, please contact Bon Bitonio, University Controller, at extension 8-2582.



 

DEADLINE

                              ACTION ITEM

May 6

Last day to enter and approve CFS requisitions for orders exceeding $20,000

May 31

Last day to submit recharges to Accounting for:

·       Reprographics (copier meter readings)

·       Postage

·       Telephone

Recharge expenses incurred after May 31st will be posted to FY 2016/17.

June 1

Packing slip requirements begin June 1st.  See section “Packing Slip Requirement” for additional information.

June 8

Last day to enter and approve CFS requisitions for the procurement of any item.

June 17

Last day to submit Department recharge requests to the Accounting Office.

June 17

Last day to submit Petty Cash vouchers to the Bursar’s Office.  Any vouchers received after June 17 will be charged to FY 2016/17.

June 20

Last day to submit Travel & Hospitality reimbursements.

June 20

Last day to submit FY 2015/16 direct payment requests to Accounts Payable.

June 20

Procurement Card/Staples/OfficeMax/Department Travel Card purchases posted on or after June 21st will be charged to FY 2016/17.

June 22

Last day to submit journal entries and fund transfer requests to the Accounting Office.

June 30

Gifts and other Deposits must be submitted by 12pm (noon) to the Bursar’s Office.

 

Purchases and Commitments

 

These deadlines apply to all state-appropriated funds and all self-support revenue funds such as Extended Education, Housing and Parking.  Purchases for Grants and Contracts are exempt from the May 6th and June 8th deadlines but be aware that “higher priority” is assigned to processing impacted orders.

 

Open purchase orders (POs) will be listed as outstanding encumbrances.  It is important to carefully review these open POs, including prior-year POs, to ensure only valid obligations are posted to your accounts.  Open POs that are no longer active should be closed.  Requests to close POs or make account code changes or adjustments must be made using the PO Change Finalization form and submitted to Deanna Tam in Procurement no later than June 10th.

 

PO Change Finalization form:

http://fiscaff.sfsu.edu/content/po-changefinalization-request-form

 

Please also note that prior to June 30, Procurement will automatically close FY 2015/16 blanket POs for goods and services, as well as any PO over 1 year and with a remaining balance less than $1,000.

 

P-Card, Office Max and Department Travel Card

 

The statement cycle for May/June 2016 (all cards listed above) ends on June 20th.  All transactions posted on or before June 20th will be charged to the current FY 2015/16.  Please plan your purchases accordingly as any transactions posted on or AFTER June 21st will be charged to the new FY 2016/17.

 

Packing Slip Requirement

 

Packing slips must be submitted for payment for all transactions incurred from June 1 through August 31.  This would apply for all transactions (i.e. P-card, OfficeMax, invoice, Direct Payments) and regardless of statement cut-off dates for invoices.