Financial Services Announcements

(Updated 3/12/18)

As we head to the end of Fiscal Year 2018 (FY18), your cooperation is requested to ensure that transactions are properly recorded in the correct accounting period. A brief description of the critical deadlines to assist you with your department’s year-end closing process follows. Please circulate this memo‌ to all personnel involved in the fiscal and business operations of your department. 

Requisitions for FY18 Expenditures 

Procurement requisitions (PUR01) for any project where the expenditure must be recorded in FY18 totaling less than $200,000 must be submitted to Financial Services-General Accounting (FSGA) by Friday, May 4, 2018. Requisitions totaling more than $200,000 must be submitted by Monday, April 2, 2018. Please insure that any backup documentation necessary is expedited to FSGA as requisitions will be held until documentation is received. Adherence to these deadlines will help us to ensure that a purchase order is generated by June 30, 2018. Requisitions submitted after May 4 will need to be dated July 1, 2018, or later (both accounting date and requisition date). 

Procurements involving complicated proposal submissions from vendors, contracts, lengthy evaluations, or those requiring outside agency approval have a long lead time. Requisitions of this type should be submitted IMMEDIATELY. It is recommended that you consult with Strategic Sourcing and Acquisition Services as soon as your needs are identified. 

A non-procurement requisition (PUR02) for expenditures may be submitted through Tuesday, June 12, 2018. After June 12, all PUR02 requisitions must be dated July 1, 2018, or later (both accounting date and requisition date) and FSGA will begin approving them beginning July 1.  

Requisitions for FY19 Expenditures

The July 2018 period has been opened in eUMB so you can begin creating requisitions for FY19.

PLEASE NOTE: The ACCOUNTING date and the REQUISITION date for all FY19 requisitions must be JULY 1, 2018.  These date fields default to the current date in eUMB, so they must be manually changed. 

FY18 Accounts Payable 

For expenses to appear in FY18 as an AP_VOUCHER payment, the invoice must be delivered to FS-Disbursements and it must be received in eUMB (if applicable) by Friday, June 15, 2018. 

International wire requests and documentation should be delivered to Monica Honza or Kenyatta Woolridge by 10 a.m. on Tuesday, June 19, 2018. 

For State and Auxiliary projects where the invoice is submitted after the deadline but the services or materials were delivered in FY18, an accrual journal entry (source OAP) will be created by Financial Services in eUMB charging an expense in FY18. The amount will be posted (and viewable in Raven) by Friday, July 6, 2018. 

FY18 to FY19 Purchase Order (PO) Rollover 

The open POs from FY18 will be rolled over to FY19 starting Wednesday, June 27, 2018, and ending Friday, June 29, 2018. During the time of the rollover processing, eUMB departmental users will not be allowed to Add, Update or Approve Requisitions and the related Worklist functions will not be available. Also, during this period Financial Services-Disbursements cannot process any vouchers (payments).  

FY18 VISA Procurement Card (PCard) Expenses 

The expenses for the PCard transactions appearing on the June 25, 2018 billing statements must be reallocated by Friday, July 6, 2018.

FY18 Payroll 

A separate memo will be distributed by FS-Payroll with the details regarding the year-end payroll processes. Please note, pay period #19-01 which includes earnings from FY18 will be viewable in Raven on Friday, July 13, 2018.

FY18 Travel Expenses 

In order for travel expenses to be charged to FY18 funds, travel expense eforms for employees must have supervisor and fiscal approvals by Friday, June 15, 2018, so that they can be loaded in the last payroll of FY 2018 (PP#18-26). Travel expense eforms for non-employees must have fiscal approvals and hard-copy documentation submitted to Financial Services-Disbursements (FSD) by Friday, June 15, 2018, so they can be paid and recorded in eUMB by the end of the fiscal year. 

FY18 Working Fund Requests 

For Working Fund check requests that need to be posted in FY18, you must deliver your request by Friday, June 15, 2018.

FY18 Journal Entries (JEs)

The last day for JEs to be submitted in eUMB for approval is Thursday, June 28, 2018, unless the JE is for a cost transfer to a sponsored project. Fund 18X cost transfer JEs need to be submitted in eUMB by Tuesday, June 26, 2018. If you need to have a journal entry posted in FY18 after June 30, you must request it via email to Sheri Myers (smyers@umaryland.edu) by Thursday, July 5, 2018. 

You have until Monday, July 16, 2018, at noon to request a redistribution of the FY18 Cost Sharing expense allocation. An excel spreadsheet with the redistribution request must be sent via email to Sheri Myers (smyers@umaryland.edu). 

FY18 Deposits

In order for cash receipts to be posted against revenue or receivables for FY18, the deposit must be submitted to the Cashier’s office (HS/HSL building) by 1 p.m. on Friday, June 29, 2018. 

Fiscal Year Close

The general ledger will be closed for FY18 on Monday, July 23, 2018. Final closing balances can be viewed in Raven as of Tuesday, July 24, 2018. Reminder: F&A expenses for July will not run until after the fiscal year close.

Summary Schedule of FY18 Year-End Deadlines 

Transaction Description

Deadline Dates in 2018

(by 5PM unless otherwise noted)

FY18 PUR01 requisitions involving complicated proposal submissions and/or requiring outside agency approvals, etc. submitted to FS-General Accounting

IMMEDIATELY

FY18 PUR01 requisitions totaling more than $200,000 submitted to FS-General Accounting.

Monday, April 2rd   

FY18 PUR01 requisitions totaling less than $200,000 submitted to FS-General Accounting

Friday, May 4th

FY18 PUR02 requisitions submitted to FS-General Accounting

Tuesday, June 12th

Approved non-employee travel expense eforms and supporting documentation for inclusion as a payment in FY18 submitted to FS-Travel

Friday, June 15th

Working Fund checks for inclusion as a payment in FY18 submitted to FS-Working Fund

Friday, June 15th

Accounts Payable Invoices for inclusion as a payment in FY18 submitted to FS-Accounts Payable

Friday, June 15th

Approved employee travel expense eforms for inclusion in the last payroll of FY 2018

Friday, June 15th

International wire requests

Tuesday, June 19th by 10AM

June 2018 Fund 18X Cost Transfer Journal Entries

Tuesday, June 26th

PO Rollover

Wednesday, June 27th through Friday, June 29th

June 2018 Journal Entries (all others)

Friday, June 29th  by 1PM

Deposits submitted to Cashier for inclusion as a receipt in FY18

Friday, June 29th  by 1PM

June 2018 PCard reallocation

Friday, July 6th

FY18 Cost share reallocation corrections

Monday, July 16th by noon

FY18 Closing process

Monday, July 23th


 

If you have questions concerning these submission dates, please feel free to contact the appropriate person listed below: 

Transaction category

Contact name

Contact extension

Deposits

Jordan Nixon

6-5230

Disbursements-Accounts Payable

Maureen Clifton

6-2931

Disbursements-Travel  

Debbie Tatum

6-6527

Disbursements-Working Fund

Kenyatta Woolridge

6-2155

International Wires

Kenyatta Woolridge

6-2155

Journal Entries - after 6/30

Sheri Myers

6-6025

Journal Entries - before 7/1

Bryan Mack

6-2910

Payroll

Candace Chow

6-1243

Procurement Card Reallocation

Kathleen Furey

6-2935

Procurement POs Joe Evans 6-8501
Procurement Requsitions Sheri Myers 6-6025