Administrative Services

Fiscal Year 2013 Year End Dates

The University's fiscal year end is June 30. Financial accounting operates in two fiscal years for a portion of July to account for all transactions that occur prior to June 30 as well as for transactions that occur on July 1 or after. Departments will receive June reports on July 25.

The following dates have been set to assist departments in planning the close of the fiscal year. These dates have been set to allow adequate processing time for the various transactions for inclusion in the fiscal year 2013 financial statements.

The dates below apply to payments from all University and Foundation funds including grant accounts regardless of grant end dates.

June 21 The Purchasing Office will make amendments and cancellations to FY13 continuous orders. Departments should submit estimates of remaining invoices. Contact Purchasing at 298-1819 if you need assistance with estimates.

Business Services will review existing postage, telecommunication, DPS, Office Supply, and vehicle encumbrances to ensure reasonableness. Departments should monitor these encumbrances and inform Business Services of any cancellations that need to occur.

Gift-in-kind forms for items or services donated to areas on campus are due to the Foundation Office. For more information, contact Holly Fecht or Christie Weishaar at 298-1861.
June 30 All cash donations must be submitted to the Foundation Office by 2pm. All donated services, goods, or other items must be submitted to the Foundation Office on a gift in kind form. Providing this documentation allows the item to be recorded as revenue in your area, and it gives the donor gift credit in the Foundation's system. Forms are available at the following link: http://www.wiu.edu/vpaps/foundation_and_development/forms.php
July 11 Deferred revenue and inventory reports (if applicable) are due in Business Services by 4:30. Areas that have historically reported deferred revenue and/or inventory will receive email correspondence from Marge Gosnell. If you do not receive correspondence by June 25 but believe you have accounts that may have deferred revenue or inventory, please contact Business Services at 298-1811.
July 12 FY13 pcard transactions must be reviewed and approved in Paymentnet. In general, purchases using pcards with transaction dates prior to July 1 will be paid from FY13 funds. Purchases with transaction dates of July 1 and after will be paid from FY14 funds.

PCard purchases for which goods were received prior to June 30 but contain transaction dates of July 1 or after must contain the received date in the comment section of PaymentNet in order to be posted to the correct fiscal year.

PCard purchases for which goods were ordered prior to June 30 but that were received on July 1 or after must contain the order and received dates in the comment section of PaymentNet in order to be posted to the correct budget year.

FY13 PCard transactions that are not approved by 4:30 on July 12 will be paid from the default account number associated with the pcard. Journal entries changing account numbers will not be processed for transactions fed to the default account because of a missed date.
July 15 Okays to Pay, Direct Pay Authorizations, and Travel Vouchers for goods received or services performed on or before June 30 and for travel beginning on or before June 30 must be in Business Services or the Purchasing Office by 4:30 on July 15. In general, payments that miss this date will be processed from FY14 budgets and may result in an audit finding for the University.

Questions about year end processes should be addressed to Cheryl Webster in Business Services at 309-298-1811 or cl-webster@wiu.edu.