• If a department receives supplies on June 30, 2003, the current FY ’03 budget is charged.
  • If a department receives supplies on July 1, 2003, the new FY ’04 budget is charged.

Procedures for service providers and employee reimbursements (for travel)

In the case of payment requests for service providers or reimbursements to employees, the date on which the service is provided, or the dates of a trip, determine which fiscal year to charge.

Here are examples:

  • If a consultant provides services that will cross over both fiscal years, the year in which most of the service is provided will be charged.  If the consultant begins providing service on June 24 and ends service on July 19, the entire amount will be charged to the new fiscal year ’04.
  • If a service is performed after July 1, 2003, but prepayment is required, the fiscal year ’04 budget will be charged.
  • If an instructor attends a conference on July 5, fiscal year ’04 will be charged for all expenses even if the request for payment is received prior to June 30.

Budget awareness
Please check your current budget before submitting purchase requisitions.  Requests will not be processed unless budgeted funds are available.  Budget managers may move funds between pools of the same account number to resolve some deficit situations.  During the year-end closing process Procurement Services will correct budget deficits automatically  between pools 3000-8000 provided enough budget exists between these pools to correct the deficit.  If a deficit cannot be corrected, it will be forwarded to the Controller’s Office for further action.

Processing current FY ’03 purchase requests
Purchase requests for the current fiscal year will be accepted until Friday, June 20, 2003.  This date allows for closing the FRS System by June 30, 2003.  Materials received after June 30 will be charged to the fiscal year ’04 budget.

Processing new FY ’04 purchase requests
While the new fiscal year (FY ’04) does not begin until July 1, 2003, you may begin to order goods or services against the new budget beginning June 9, 2003.   To use the new budget, goods or services must be delivered on or after July 1, 2003.  Keep in mind that if the goods or services purchased are received before June 30 they will be charged in the current Fiscal Year ’03.

  • Enter FY ’04 purchase requisitions into the Self-service module of Banner.  For more information on how to use this module, see the Banner article elsewhere in this issue of Bulletin Today.
  • FY ’04 service providers, as previously noted, continue to be processed on the Independent Contractor-Guest Speaker form

Employee reimbursements, prepaids, cash advances, independent contractors, check requests and miscellaneous payments processed in Accounts Payable
Submit all FY ’03 employee reimbursements, prepaids, cash advances, Independent Contractors requests, check requests and miscellaneous payment requests by Friday, June 20, 2003.   Remember that the current fiscal budget must have funds available to cover these expenses.

ProCard purchases, Corporate Express office product orders
If you are using a Procurement Card (ProCard) to make material purchases near year-end, please be aware that the bank cycle ends on June 25, 2003.  This means that although the fiscal year ends on June 30, any charges made after the 20th will be charged to the new fiscal year – fiscal year ’04.  Please also be aware that purchases made close to the bank cycle end date do not guarantee the charges will fall in fiscal year ’03 depending on when the vendor submits credit card charges to the bank.

Special note regarding FY ’04 budget
Due to the Banner implementation, the FY ’04 budgets as shown in the Self-service module are not yet finalized.  Revenue and non-compensation budgets will be finalized by July 1, 2003.  While most non-compensation budgets have been entered, and FY ’04 orders can be processed starting June 9, further non-compensation budget corrections may be made through June 30, 2003.  The FY ’04 compensation budgets will not be finalized until July 15 given the July 1 implementation date of the Banner Human Resource module.

If you have any questions regarding these procedures, please e-mail Laura Deuberry or Edie Dull.