DATE:            March 11, 2019

TO:                 Faculty and Staff

FROM:          KSU Purchasing and Accounting Departments

SUBJECT:     Fiscal Year 2018-19 Closing Schedule

________________________________________________________________________

The state fiscal year runs July 1- June 30. To properly report the University’s financial position at June 30th, all finance and accounting transactions must be recorded in the appropriate fiscal year.

The process of closing the accounting books for fiscal year closing June 30, 2019 has begun. Key closing dates and important deadlines are outlined below.  Please take special notice of the information contained in this memo as it has changed from previous years. If you have questions or need further information, please contact Purchasing or Accounting for clarification.

Thank you for your assistance in this process!

Deadline Action Item
Now –

June 15, 2019

Review expenditures, open encumbrances, etc. and communicate with appropriate Accounting or Purchasing staff on any changes/updates needed
April 15, 2019 Last day to submit budget changes for FY2019
  Last day to submit purchase requisitions for FY2019
May 1, 2019 All airline reservations must be booked in Concur to be charged against FY19 budgets.
May 31, 2019 All grant and contract RFBE’s for FY19 must be submitted to Grant Accounting
  Last day to request cash advance
June 3, 2019 Submit any fixed asset forms to process dispositions, transfers, etc. to General Accounting
June 6, 2019 All interdepartmental charges (motor pool, postage, copier, etc.) due through the month of May
June 14, 2019 Last day to turn in invoices needing to be paid using FY19 funds to Accounts Payable. Invoices received later will be processed after July 6 and will be evaluated to determine if they are charged to FY19 or FY20 budgets.
  Any checks or payments must be deposited with the cashiers’ office by noon.
June 20, 2019 Last day to use standing orders. All accompanying receipts and invoices are due by close of business June 21.
June 21, 2019 Expense reports must be submitted and approved in Concur.  Any submissions/approvals received after June 21 are subject to be paid out of FY20 budgets.
  All PCard transactions must be posted in the Fifth Third system in order to be charged against FY19 budgets. Any transactions posted after June 21 will be charged to FY20 budgets.
June 22, 2019 Reimbursements for travel occurring prior to June 15 due to Accounts Payable. Any travel received later will be processed after July 6 and paid out of new FY20 budgets.
June 27, 2019 Final check run for FY19
June 28, 2019 All goods and services must be delivered and invoiced on all purchase orders. Any PO still open will be closed by June 30. Any late invoices are subject to be paid out of FY20 budgets.
  All receiving should be made at the Jordan Building. If partial shipments are received, only items invoiced prior to June 28 will be charged to FY19 budgets. Items received after June 28 will be charged to FY20 budgets.
July 6, 2019 All interdepartmental charges for the month of June
July 11, 2019 First check run for FY20

 

Contacts:

Purchasing                                                      Accounts Payable

Debra Bright ext. 6434                                   Rebecca Persons ext. 6612

Jane Stamper ext. 6657                                   Daryl Baker ext. 6447

Neni Robertson ext. 6422

 

Accounting                                                     Grant Accounting

Michelle Sutton ext. 5837                              Adrian Douglas ext. 6727

Samantha Combest ext. 6449                         Debby Edelen ext. 6175

Lisa Fitzwater ext. 6542                                 Bethany Singleton ext. 6839

Alma Lopez Arellano ext. 6454

 

Budget                                                            Bursar

Jasmin Thurman ext. 6678                             Natalie Turner ext. 6373

 

Cashier

Larma Washington Collins ext. 6590