Year-End Closing for Purchasing and Disbursement Services – FY06-07
Michael V. McKee, Assistant Vice Pres. and University Controller
It is time to begin planning for fiscal year end June 30, 2007. Departments are encouraged to begin reviewing all outstanding purchase orders (PO) and travel authorizations (TA). Remember, for all recurring charge POs to internal vendors, such as PPD, ACS, Postage or CNS, you will need to estimate your June bill so only the June estimated amount will be carried forward. Any PO not currently needed should be canceled. This must be performed in the following manner:
PO and/or PO lines not previously vouchered against – Complete a change order to cancel the PO and forward to Purchasing. Instructions on completing change orders can be found at:http://purchasing.ufl.edu/peoplesoft.asp#Change_Orders
The change order form can be found at:http://fa.ufl.edu/forms/pdf/fa-pds-pocr.pdf
PO that has been vouchered against – Finalize the PO on the last voucher. Navigate to: Accounts Payable>Review>Interfaces>Purchase Order Inquiry. Key in your Purchasing Business Unit and select the PO. This will list all vouchers applied against the PO. Note the latest voucher number. Retrieve this voucher in Accounts Payable and finalize the PO by clicking on the “Finalize” icon in the top right corner. You will need to budget check by clicking the budget check icon to release the funds.
Note: A PO that has had the entire amount vouchered for payment (open amount of $0.00) and has not been finalized will need to be finalized to close the PO.
Outstanding Encumbrance Report
The outstanding encumbrance report for open POs and TAs is available in Enterprise Reporting and can be found by navigating to the following:
Enterprise Reporting>Access Reporting>Monthly Financial Reports>Open Encumbrance Report
Departments will be required to run this report and perform the following tasks for all outstanding POs and TAs:
Purchase Orders
Appropriated Funds (101, 102, 103, 111, 112, 113, 191, 221 & 222)
The following process should be followed:
1. POs no longer needed – Cancel or finalize per the above instructions.
2. All amount only blanket POs not issued to a UF internal vendor must be canceled or finalized.
3. Any PO’s that are not canceled by Purchasing or finalized by the department will be carried forward.
4. When attempting to finalize a FY07 PO to Physical Plant (PPD) and the voucher goes to a budget error status, contact Christina Birmingham for assistance at 392-4030 X233 or email cbirming@ufl.edu.
The following FY07 encumbrances are authorized to be carried forward:
* Established POs to outside vendors for the purchase of goods, but not amount only blanket POs
* An estimated amount to allow for the payment of June services for service POs
The PO Rollover process will be initiated by Purchasing and Disbursement Services to roll remaining POs to FY08. The PO number will not change from the existing FY07 number. FY07 PO distribution lines will be canceled and a new distribution line will be generated for the same amount and classified as FY08 CYFWD (101-113) or CRRNT (191, 221-222).
The FY07 budget balance equal to the total of POs not canceled or finalized will be moved to the FY08 budget (CYFWD or CRRNT as applicable) if adequate budget exists.
| POs on appropriated funds for the following vendors :
CNS Telecommunications – vendor number 0000002055 will be handled in the following manner:
POs will be cancelled by PDS restoring the funds back to your available FY08 CYFWD balance.
|
Cash Based and the 201/209 Funds
The cumulative budget feature of these funds will allow for POs to remain open across fiscal years. Although all POs funded by cash and budget based funds will remain open, departments should use this opportunity to clean up any POs no longer needed. Cancel or finalize POs per the instructions above.
Deadlines
June 8th – Last day to submit change order to Purchasing to cancel a FY07 purchase order
June 15th – Last day for departments to finalize a purchase order that has been vouchered against
Travel
Travel Authorizations
Cancel all TAs not needed in the Travel and Expense Module by Friday, June 22nd. The Open Encumbrance Report can be used to identify all open TAs on your budgetary cost centers. Purchasing and Disbursement Services will re- establish the TAs (TA number in FY08 will remain the same as the existing FY07 number) based on the following criteria:
Funds (101-113)
Travel start date < = 6/30/2007 – The FY07 budget balance equal to the total of TAs not canceled or deleted meeting this criteria will be moved forward to FY08 CYFWD budget reference.
Travel start date > 6/30/2007 – The budget reference will be changed to FY08 CRRNT
All Other Funds
For all remaining TAs, the budget reference will be changed to FY08 CRRNT
Purchasing and Disbursement Services Year-End Information and Schedule
Orders above $50,000 that require competitive bidding should be submitted by May 9th to ensure that FY07 funds are encumbered. A sealed bid/solicitation requires at least 30-45 days to specify, advertise, open, evaluate, award and post, before a purchase order can be issued.
All requisitions for FY07 must be input into the University’s accounting system by Friday, June 8th to ensure POs are encumbered against FY07 funds. For FY07 requisitions after this date, contact Purchasing to coordinate any requests to encumber funds.
After 6/08/07, the ePro module will be set to default to FY08 dates. Departments may begin to input FY08 requisitions but these will need to be “Saved for Later”. Departments will be notified when FY08 budget is available and FY08 requisitions may then be submitted. If a requisition is submitted instead of saved for later, it will be deleted.
Because of timing issues with vendors submitting purchasing card transactions to their bank, there is no way to determine the exact date a transaction will be sent to UF by our bank and loaded into the PCard module. The last day to approve PCard transactions on FY07 funds will be Tuesday, 6/26/07. You may continue to use your UF purchasing card and approve charges through the end of the fiscal year, with the following restriction in mind:
* All transactions received or approved after 6/26/07, charges will be applied against FY08 funds.
The following deadlines have been established to assist in the year-end process.
Wednesday, May 9th
Orders above $50,000 that require competitive bidding should be submitted to ensure that FY07 funds are encumbered. A sealed bid usually requires 30-45 days to specify, advertise, open, evaluate, award and post, before a purchase order can be issued.
Friday, June 8th
Final day to input a requisition into PeopleSoft against FY07 funds. For FY07 requisitions after this date, contact Purchasing to coordinate any requests to encumber funds. Departments may begin to input FY08 requisitions but these will need to be “Saved for Later”.
Deadline for submitting ALL Change Orders on outstanding encumbrances.
Friday, June 15th
Revenue Refund requests should be input into PeopleSoft to ensure posting against FY07 funds.
Deadline for departments to finalize POs in PeopleSoft that have been vouchered against for FY07.
Last day to upload vouchers thru the interface process into AP (IDs, Library, etc.)
Friday, June 22nd
Last day to input a voucher (regular, E2E, E2R) into PeopleSoft to ensure payment from FY07 funds. No input will be allowed in the PeopleSoft Accounts Payable module after 6/22. Reopen July 9th.
Cash Expense Refunds should be remitted to the Cashier, S-113 Criser Hall. E&G refunds against current year expenditures will be lost by the department if not input into PeopleSoft by fiscal year end.
Last day to input a travel expense report into PeopleSoft to ensure payment from FY07 funds. No input will be allowed in the PeopleSoft Travel and Expense module after 6/22. Reopen July 9th.
All travel advances for FY07 must be settled.
Tuesday, June 26th Last day to approve PCard transactions to ensure payment against FY07 funds.
All supporting documentation MUST be received in Purchasing and Disbursement Services thru fax imaging for approval of vouchers.
Friday, June 29th
All vouchers input into PeopleSoft must be cleared of all matching exceptions and budget errors. Purchasing and Disbursement Services will be working these errors and contacting departments for assistance.
Monday, July 9th
Accounts Payable and Travel modules will be opened for FY08 processing. These modules need to be closed until FY08 budgets are established and FY07 POs and TAs are closed.
This fiscal year-end schedule and information for Purchasing and Disbursement Services can also be found at the following website:http://fa.ufl.edu/apps/uas/yes/default.asp
If you have any questions concerning these procedures and cutoff dates, you can contact us at: purchasing@ufl.edu or disbursements@ufl.edu or by calling:
Purchasing
Lisa Deal
2-1331
Accounts Payable
Randy Staples
2-1241
Cash Expense Refunds
David Segura
2-9057
Travel
Brett Wallen
2-1245
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