DATE: May 18, 2005

TO: Accounting & Payroll Personnel

All Agencies, Boards and Commissions

FROM: Paul Carlson, Administrator

State Accounting Division

SUBJECT: Fiscal Year End (June 30, 2005) Closing Schedule

Please find the attached schedules and information to assist in fiscal year-end closing of the State’s accounting records. As always, if there are unique circumstances, agencies can contact Wes Mohling, State Accounting Operations Manager (wmohling@notes.state.ne.us) (402-471-0601), and we will determine the best way to coordinate the completion of your year-end work.

Wednesday, June 15, 2005:

· State Accounting will perform position roll overs to create new positions for NIS Fiscal Year ’05 (July 1, 2005 through June 30, 2006). Budgeted amounts for the positions will be increased by 3%.

Friday, June 17, 2005:

· Review manual encumbrances. If you had a lapse and have not sent the information to DAS State Budget, this needs to be completed.

Monday, June 20, 2005:

· Biweekly Payroll for June 22 pay date posted by State Accounting.

· Agencies need to review Received Not Vouchered Payable (Object Code 211700) for all funds and confirm that the balance is correct. (The balance should be supported by purchase orders received but not paid.)

· Review Open Purchase Orders to ensure the order is valid. These will be rolled over into July 1, 2005. (If there is a problem, contact Stacey Mundt, NIS Team Finance Lead via email.)

· Replenish petty cash funds and vendor deposit accounts to authorized levels by the end of the fiscal year.

· Review all balance sheet accounts to determine if correcting entries need to be made before the end of the fiscal year.

Monday, June 27, 2005:

· All Fixed Assets should be posted or passed on.

· All Manual Encumbrances should be liquidated (voided or credit JE) from the system. If a manual encumbrance is still outstanding, it will need to be voided from the system and re-entered in July 2005.

· Reconcile encumbrances on the allotment status to supporting documentation (This should be a listing of outstanding purchase orders.)

· Review any outstanding cash transactions related to the Treasurer’s office to ensure that cash activity in the bank has been cleared or paperwork has been processed.

· Monthly Payroll Posted by State Accounting

· Normal Receipt Activity

· LAST DAY TO POST FISCAL YEAR END 6-30-05 TRANSACTIONS.

This includes purchase orders and purchase order receipts, fixed assets, voucher processing, journal entry activity, etc. Agencies that require access to the system for specific June 30 business transactions can send an email to Wes Mohling, 471-0601 in State Accounting and we will determine the best way to coordinate the completion of your year-end work. State Accounting, in coordination with the NIS Team, will be monitoring the queues.

Tuesday, June 28, 2005:

· Normal transaction processing for Cash Deposits and Receipts through the Treasurer’s Office.

· Preparation for the biweekly payroll for 7/6/05 allowed for Agency HR teams.

· No purchasing activity without authorization. Do not perform a receipt function against an outstanding purchase order unless authorized since these must be posted before year-end. You should not perform a receipt function against an outstanding purchase order for a future period either because it also must be posted.

· State Accounting will process payment groups for vouchers with due dates through 7/6/05.

· Legally required expenditures for NIS Fiscal Year ’04 (July 1, 2004 to June 30, 2005) allowed to post (Prior Notification to State Accounting Required)

Wednesday, June 29, 2005:

· Normal transaction processing for Cash Deposits and Receipts through the Treasurer’s Office.

· Preparation for the biweekly payroll for 7/6/05 allowed for Agency HR teams.

· No purchasing activity without authorization.

· State Accounting will process payment groups for vouchers with due dates through 7/6/05.

· Legally required expenditures for NIS Fiscal Year ’04 (July 1, 2004 to June 30, 2005) allowed to post (Prior Notification to State Accounting Required)

Thursday, June 30, 2005:

· TREASURER CUT OFF FOR DEPOSITS – 9:00 A.M. Deposits after this should have a 7/1/05 GL date.

· Preparation for the biweekly payroll for 7/6/05 allowed for Agency HR teams.

· No purchasing activity without authorization.

· State Accounting will process payment groups for vouchers with due dates through 7/6/05.

· Legally required expenditures for NIS Fiscal Year ’04 (July 1, 2004 to June 30, 2005) allowed to post (Prior Notification to State Accounting Required)

· If there are outstanding issues for your agency on Thursday, June 30, that will have a financial impact, contact Bruce Snyder by 1:00 p.m.

POSTING OF TRANSACTIONS CONTROLLED BY STATE ACCOUNTING

Friday, July 1, 2005:

· June 30, 2005 Preliminary Allotment Status will be available. (Final Allotment Status Report will be created after year-end closing.)

· State Budget provides partial allotment of new appropriations.

· Normal Receipt and Deposit Activities – All recorded in new NIS Fiscal Year ’05 (July 1, 2005 through June 30, 2006)

· Disbursements without a purchase order created and approved for new NIS Fiscal Year ’05 (FY 05-06) – NO POSTING. (Remember to use prior year payable menu for voucher processing when appropriate.)

· Preparation for the biweekly payroll for 7/6/05 allowed for Agency HR teams.

· No purchasing activity by anyone in the State of Nebraska without authorization.

· State Accounting will not process regular payment groups.

· State Accounting will roll over outstanding purchase orders at June 30, 2005 into the new fiscal year.

Saturday, July 2 – Monday July 4, 2005:

· FISCAL YEAR JUNE 30, 2005 – SCHEDULED CLOSE.

· NO POSTING UNTIL FLASH MEMO IS RECEIVED THAT YEAR END CLOSE IS COMPLETE.

Tuesday, July 5, 2005:

· Normal Accounting Activities

· Biweekly Payroll for July 6 pay date posted by State Accounting.

· Agencies should be using prior year voucher processing menus when appropriate.

· July 1, 2005 Allotment Status on mreport.

· Review Purchase Orders to determine Year End Rollover is correct.

Monday, July 11, 2005:

· Prior year manual encumbrances that were not liquidated and were voided should be re-entered.

· Manual encumbrances for PSL may be entered into the system.

· Run the Encumbrance Detail Report (NIS 594A) to ensure that your encumbrances are recorded correctly.

Monday, August 1, 2005:

· State Accounting will run a draft of the Biennial Carryover Report as of 7/31/05. This will be posted on the State Accounting website and a flash memo will be sent. Agencies should review and determine if any changes should be made.

Monday, August 29, 2005:

· State Accounting will run a second draft of the Biennial Carryover Report as of 8/26/05. This will posted on the State Accounting website and a flash memo will be sent. Agencies should review and determine if any changes should be made. DO NOT CERTIFY ON THIS COPY.

Friday, September 2, 2005:

· State Accounting will run the 8/31/05 certified version of the Biennial Carryover Report. This will be posted on the State Accounting website and a flash memo will be sent. THIS IS THE CERTIFICATION REPORT. Agencies should print out their agency page for the Director’s signature. These should be sent to State Accounting.

Friday, September 9, 2005:

· Agency Director signed copy of Certified Biennial Carryover Report due to State Accounting.

Friday, September 30, 2005:

· State Budget will complete review of Certified Encumbrances and provide re-appropriations.

· State Accounting will load re-appropriations into Budget Status after Agency approval.