DATE: May 15, 2008
TO: Accounting & Payroll
Personnel
All Agencies, Boards and
Commissions
FROM: Paul Carlson, Administrator
State Accounting Division
SUBJECT: Fiscal Year End (June 30, 2008) Closing
Schedule
The
following information is being provided to you to assist in fiscal year-end
closing of the State’s accounting records. As always, if there are unique
circumstances, agencies can contact State Accounting and we will determine the best way to coordinate the completion of your
year-end work. The dates listed are the
final date the tasks need to be completed.
Earlier completion is recommended.
Wednesday, June 11, 2008:
·
State Accounting will perform position roll-overs (this happens
only on the Payroll side) to create new positions for NIS Fiscal Year 8 (July 1, 2008 through June
30, 2009). Agencies will need to make
any position budget adjustments after the rollover takes place, since the
various adjustments (second year of any additional increases due to the CIR, CIR
anniversary date adjustments, and rules-based comparability adjustments) will
need to be made based on information provided to the agencies by State
Personnel and Employee Relations.
Friday, June 13, 2008:
·
Review manual encumbrances.
If you had a lapse of an encumbrance and have not sent the information to AS State Budget, this needs to be completed.
Monday, June 16, 2008:
·
Biweekly Payroll for June 18 pay date
posted by State Accounting.
·
Agencies need to review Received Not Vouchered
(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. Open purchase
orders, at year-end, will be rolled over into the next fiscal year with a July
1, 2008 date. (If there is a problem with a purchase order, contact State
Accounting via as.stateaccounting@nebraska.gov
with a subject line of Purchase Order
followed by the purchase order number and agency number.)
·
Replenish petty cash funds and vendor deposit accounts to
authorized levels.
·
Complete your review of all balance sheet accounts (100000 –
399999) to determine if correcting entries need to be made before the end of
the fiscal year. Please pay particular
attention to Accounts Receivable and Accounts Payable balances. For each of
these accounts that have a balance, you need to be able to document exactly
what that balance consists of. This
review should occur throughout the year.
Wednesday, June 25, 2008:
·
All items on the Unposted Fixed Asset Report must be posted or
passed on. The Unposted Fixed Asset
Report must be blank.
·
The Fixed Asset No Cost Integrity
Report must be blank, except for items that have not been received.
·
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, posted, and re-entered in July 2008.
·
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 6-30-08 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 email Wes
Mohling at weslie.mohling @ nebraska.gov, or
telephone at 471-0601 and State Accounting will determine the best way to
coordinate the completion of your year-end work. State Accounting will be
monitoring the queues for the rest of the week.
POSTING OF TRANSACTIONS
FROM JUNE 26, 2008 THROUGH JUNE 30, 2008 WILL BE CONTROLLED BY STATE ACCOUNTING
Thursday, June 26, 2008:
·
Normal transaction processing for Cash Deposits and Receipts
through the Treasurer’s Office.
·
Preparation for the biweekly payroll for 7/2/08 allowed for Agency
HR teams until the 1:00 P.M. payroll deadline.
·
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 7/3/08.
·
Legally required expenditures for NIS Fiscal
Year 7 (July
1, 2007 to June 30, 2008) will be allowed to post only with prior notification
and approval by State Accounting.
Friday, June 27, 2008:
·
Normal transaction processing for Cash Deposits and Receipts
through the Treasurer’s Office.
·
No purchasing activity without authorization.
·
State Accounting will process only volume voucher payments and emergency payments.
·
Legally required expenditures for NIS Fiscal
Year 7 (July
1, 2007 to June 30, 2008) will be allowed to post only with prior notification
and approval by State Accounting.
Monday, June 30, 2008:
·
TREASURER CUT OFF FOR DEPOSITS – 9:00 A.M.
Deposits after this should have a 7/1/08 GL date.
·
No other activity will be allowed without authorization. This
includes all purchasing activity and posting activity.
·
All activity in
·
If
there are outstanding issues for your agency on Monday, June 30, that will have
a financial impact, contact Bruce Snyder at 471-0620 by 2:00 P.M.
·
FISCAL YEAR JUNE 30, 2008 CLOSE SCHEDULED FOR 8:30 P.M.
·
State Accounting will roll-over outstanding purchase orders at
June 30, 2008 into the new fiscal year.
·
State Budget provides partial allotment of new appropriations.
NO POSTING UNTIL FLASH MEMO IS RECEIVED THAT YEAR END CLOSE IS
COMPLETE – ANTICIPATED BY TUESDAY, JULY 1, 2008 AT 7:00 A.M.
Tuesday, July 1, 2008:
·
Normal accounting activities scheduled to resume at 7:00 A.M.
·
Biweekly Payroll for July 2 pay date
posted by State Accounting.
·
Agencies should be using prior year voucher processing menus when
appropriate.
·
The July 1, 2008 Allotment Status Report, with FY09 data, will be
available on MREPORT.
·
Review Purchase Orders to determine year end rollover is correct.
Beginning Monday, July 7, 2008:
·
Prior year manual encumbrances that were not liquidated and were
voided should be re-entered.
·
Manual encumbrances for 6/30/08 accrued PSL may be entered into
the system. After you have entered encumbrances, run the Encumbrance Detail
Report (
Monday, July 21, 2008:
·
State Accounting will run a draft of the PSL Mid-Biennial
Carryover Report as of Friday, 7/18/08. This will be posted on the State Accounting website and a flash
memo will be sent.
Beginning Monday, July 21
2008:
·
Agencies should review and determine if any changes should be made
to the
PSL Mid-Biennial Carryover Report. All
changes should be resolved and corrected by Friday, July 25, 2008.
Monday, July 28, 2008:
·
State Accounting will run a second draft of the PSL Mid-Biennial
Carryover Report as of 7/25/08. 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. Changes must be completed by the end of the
day. DO NOT CERTIFY ON THIS COPY.
Monday, August 4, 2008:
·
State Accounting will run the 7/31/08 certified version of the PSL Mid-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 by
Friday, August 8, 2008.
Friday, August 8, 2008:
·
Agency Director signed copy of Certified PSL Mid-Biennial
Carryover Report due to State Accounting.
Friday, August 29, 2008:
·
State Accounting and State Budget will complete review of
Certified PSL Encumbrances and provide re-appropriations.