Dear Colleagues,
As we approach the end of another fiscal year, please see below for a review of our end-of-year deadlines. By meeting these deadlines you will help us better prepare for our audit and successfully close fiscal year (FY) 2011.
REVENUE PROCESSING
1. Deposit/Notification of Gifts (in cash, checks, credit cards and in-kind). All funds and/or notification of in-kind gifts are expected to be submitted to the Whitworth Institutional Advancement Office (June Hansen) as soon as they are received (please deliver cash and checks by hand). In order for these funds to be posted to FY 2011, please submit your deposit/notification into June’s office by 12 p.m. on June 30, 2011.
2. Deposits of Miscellaneous Revenues. As normal, all deposits are expected to be submitted to the cashier daily (please remember to deliver cash and checks by hand). In order for the deposits to be posted in FY 2011, please submit all cash and checks to the cashier’s window by 12 p.m. on June 30, 2011.
EXPENSE PROCESSSING
1. Purchase Orders (P.O.s): We anticipate that if the P.O.s were in place by May 31, all items will most likely be received by June 30. For the exceptional cases where this does not happen, departments will need to contact us and submit documentation (i.e. e-mails, correspondence, etc.) evidencing that all possible efforts were made with the vendors to receive the items by June 30. Unless we hear from the departments before July 15 reporting that there have been unforeseen issues delaying deliveries, we will assume that all items received after June 30 are to be charged to the 2012 budget.
2. Purchasing Card (P.C.) Transactions: As long as the purchased items and services are received by June 30 and the funding to pay for those items is still available in the department’s budget at the end of the year, we will process this procurement against the FY 2011 budget. As in prior years, in order to avoid posting delays in P.C. transactions, we have requested PNC Bank to temporarily freeze our purchasing cards from June 20-30, 2011. This means that all purchases and travel charges to be paid with the purchasing card must be done by June 17, 2011. If you anticipate any problems with this temporary freeze, (i.e. traveling during the freezing period) please contact us immediately so we can address your specific situation with the bank.
Please keep in mind that we will keep the accounts payable (A/P) purchasing card open for any emergencies and we will be happy to assist your department with any last-minute needs during the freezing period.
Also please remember the following:
- If you will be gone before the end of June and have June charges on your P.C., please contact Cynthia before you leave so you can get your log sheet early, complete it and turn it into A/P before you leave for the summer.
- If you will be here but your supervisor will be gone at the time June log sheets are due, please contact Cynthia to obtain an early log.
- If you will be gone all summer and will not need your P.C., we suggest you leave it in a locked desk at Whitworth or send it to A/P for safekeeping to prevent using it by mistake. It causes a great difficulty when charges are made against P.C.s, log sheets are generated, but the employee and/or supervisor is off campus for the summer.
- If you are a P.C. holder and will be off campus during the summer, please check your e-mail periodically around the end of the month to see if there are questions regarding your PC log.
3. Other Procurement Less Than $5,000. This includes honorariums, pending invoices, mileage reimbursements, petty cash expenses, and expense reimbursements. Any goods and/or services rendered/received prior to or on June 30, 2011, need to follow the same requirements as Purchase Orders and Purchasing Card transactions, i.e. all documentation and check requests need to be submitted for reimbursement as close as possible to June 30 and no later than July 15, 2011. Unless we are notified before or on that date that a specific good or service was received before June 30 and that there are delays in receiving billing documents, we will post all documents received after July 15 against next year's budget. July 15 is the date we start closing our books in preparation for the auditors’ visit.
Please remember that, just as it has been done in the past, items or services (other than travel and memberships) with a value greater than $200 purchased this year but to be used/distributed next fiscal year (i.e. airline tickets, publications, memberships, etc.) will be considered as "pre-paid expenses" and will be charged to next year's budget.
4. Departments That Have Been Notified about Overspent Budgets. Please remember that unless timely funding transfers are processed, we will be unable to process further expenses (i.e. Purchasing Cards charges, invoices, reimbursement etc.). This includes operating lines as well as all student employment lines.
Budget officers, please note that incurring additional expenses once the department’s budget is exhausted is in direct violation of the university’s policy and qualifies as a work-performance issue.
5. Payroll: deadlines for web timecards in June are the same as other months. For the June 1-15 pay period to be paid on June 27 for students and June 30 for staff, all web time must be entered by June 18 for students; by June 20 for semi-monthly; and by June 24 for monthly staff.
Regarding the June 16-30 pay period, the student pay date is July 12, with timecards closing on July 3. The staff pay date is July 15, with timecards closing on July 5. All web-time must be entered by July 5. As always, any changes to the W-4 form or direct deposit information need to be submitted to the Whitworth Payroll Office two weeks prior to pay day.
We really appreciate your help with the compliance of these deadlines and all our policies. Please feel free to call us with your questions, comments or concerns regarding these deadlines or any other issues.
Thanks much in advance for your help.
Blessings,
Luz Merkel
Associate Vice President
Finance and Administration
509.777.4225
lmerkel@whitworth.edu
