The following general year-end provisions will apply to purchase orders, procurement card, and voucher transactions as they relate to University budgets at the end of the FY24 fiscal year:

  1. PURCHASE ORDERS: In order for purchases to apply to your FY24 budget, a purchase order must be issued by September 30.
    • All requisitions must be approved by September 19. If quotes or bids are required, such requisitions must be submitted and approved by August 30.
    • Beginning on September 19, new requisitions must have a transaction date of October 2024.
      1. If the requisition has not been fully approved and the transaction date has not been changed to October 2024, the requisition should denied by an authorized departmental approver and the initiator will need to change the transaction date to October 2024 and resubmit.
      2. During the period September 19-30, if the requisition has been fully processed but the transaction date was not changed to October 2024, contact Procurement Services to have the requisition deleted. A new requisition should then be submitted with an October 2024 transaction date.
  1. Procurement card reconciliations are approximately one month behind, so all charges posted in US Bank by September 30 will apply towards your FY24 budget. Reconciliations should be completed by October 7. All purchases made on October 1, 2024 or later will apply towards your FY25 budget.
  2. MISCELLANEOUS VOUCHERS: All expenses incurred through September 30, 2024 should be charged to your FY24 budget. Vouchers should be sent to Business Services as soon as possible after the expense has been incurred and associated invoice(s) received. Vouchers for FY24 expenses must be received by October 7.
  3. TRAVEL VOUCHERS: Expenses for travel incurred through September 30, 2024 are to be charged against your FY24 budget and submitted to Business Services as soon as possible upon completion of the trip. Travel vouchers for FY24 expenses must be received by October 7.
  4. Non-state funded FY24 budgets (i.e., Departmental, Contracts and Grants, Gifts/Endowments and Plant Funds) will be rolled forward to FY25. State funded budgets expire at the end of FY24, so if you have any authorized purchase orders on state funded Orgs (i.e., any Orgs not in the categories above), please inform Tammy Haymon or Haley Smith in the Budget Office if the associated payment(s) will not be processed in FY24. Please provide the Org, purchase order number, and remaining dollar amount of the purchase order. The Budget Office will carry forward the funding of the purchase order to FY25 since the expense will be charged in FY25.
  5. Only purchase orders that have not been invoiced and paid will be brought forward into the new fiscal year. If a partial payment has been issued prior to September 30, 2024, only the remaining balance will be carried forward as an encumbrance obligation. Your available funds in your FY25 budget will be reduced by the outstanding amount of prior year purchase orders.
  6. All Barnes & Noble purchases made through department requisitions must occur by Friday, September 27, to ensure they are posted to your FY24 budget. All purchases made after this time will be posted to your FY25 budget.
  7. Departments must ensure that old outstanding encumbrances are closed.

The attached year-end closing schedule has been prepared for your guidance in meeting the established due dates. Any data adjustments to be included in the FY24 financial period must be submitted to the Accounting Office by noon on October 7.

If you have questions or need further information, please contact Brad Cooper (824-5844), Ken Young (824-2233), Alicia Callis (824-5604), or Valarie King (824-2231).

 

 

FY24 YEAR-END CLOSING SCHEDULE

September 26

 30 Retros will be processed for all pay periods prior to the September 4 – September 17 pay period – final date for state Orgs.

September 19

 Labor and leave forms due by 12 pm to Payroll Services (eLabor, Biweekly Labor Report, and WTE).

September 23

 Retros over 28 days from the check date must be submitted no later than 5:00 pm on September 23. Retros less than 28 days must be submitted by noon September 25.

September 25–27

 Payroll for the pay period ending September 17 will be processed and fed to Banner Finance.

October 4

 Submit all FY24 cost transfers related to contracts and grants to Contracts and Grants Accounting by noon.

October 7

 Postage, telephone distribution, computer, maintenance agreements, inventories, Copy Center, Cylinder, Bookstore, temporary employment charges, machine shop, and all other internal transfers are to be recorded. Departments must send transfers to Accounting by noon on October 3. All feeds must be submitted to OIT by noon on October 3.

 Listing of non-cash gifts and/or donated services from Advancement must be received by Accounting. All UAH gifts should be added to the Cash Receipts Journal and Accounting should be notified.

 List of disposed Library books must be received by Accounting from the Library.

 Labor statements will be available.

 Purchasing card reconciliations for September are due.

 All data adjustments for FY24 must be submitted to Accounting by noon.

 Miscellaneous vouchers for expenses incurred through September 30 must be submitted by 4:45 pm.

 Travel vouchers for trips taken through September 30 must be submitted by 4:45 pm.

October 9

 Monthly closing journal vouchers will be processed.

October 10 

 General Ledger Balance Forward Process will run, which will open the accrual period.

 Period 12 will be closed.

 Encumbrance Roll Process will run (open purchase orders only; no requisitions will be carried forward). OIT assistance will be needed to correct any errors.

October 11

 Preliminary Year-End Budget Statements (ZBDSTMT) will be run.

 Budget statements should be thoroughly reviewed for accuracy by department personnel.

 Monthly reports from OIT will be run.

 Actual indirect cost income allocation from the Office of the VP for Research due to Accounting by the close of business.

 All general ledger accounts checked and reconciled.

October 17

 Final adjusting journal entries to be entered into the system.

October 18 

 Run GASB reports.

 Contracts & Grants Accounting personnel are to process billing for the month ended September 2024.

October 23

 Assemble financial data.

October 24

 Budget Carry Forward Process will run at night. OIT assistance will be needed to correct any errors.

October 28

 Final Year-End Budget Statements will be run.

To submit an announcement, contact omc@uah.edu.
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