Year-End Information

As we approach June 30th, the end of FY 2018, the Accounting Office is reminding financial managers, administrative officials, department heads, and directors of accounts to carefully review your financial activity and submit corrections to the Accounting Office as soon as possible.

Remember that you may monitor your account activity by accessing Banner Self-Service or INB. This allows you to review current activity within your account and eliminates the need to wait for e~Print reports.

SIGNIFICANT DEADLINES:

Activity	Deadline
Process FY18 Purchase Requisitions that require bidding ($10,000 or more)	Tuesday, May 15, 2018
Process FY19 Purchase Requisitions that require bidding ($10,000 or more) with July 1, 2018 contract start date	May 15 - June 30, 2018
Process FY19 Purchase Requisitions that do NOT require bidding	Beginning Monday, May 15, 2018
Book Airfare Reservation via Travelennium for Travel in FY18	Monday, June 11, 2018
Process FY18 Purchase Requisitions that do NOT require bidding	Friday, June 8, 2018
Cancel, Adjust, Deobligate Remaining Balances on FY18 Requisitions	Friday, June 22, 2018
Time Sheet for BW13 Biweekly Payroll (June 9th - June 22rd)	Friday, June 22, 2018
Complete Staples Purchase Orders	Monday, June 25, 2018
Settle Travel Advances for FY18	Monday, June 25, 2018
Submit Claims for Petty Cash Reimbursement	Monday, June 25, 2018
Online Budget Revisions between Account Pools	Monday, June 25, 2018
Submit Invoices, Travel Claims, & Reimbursements to Accounting (FY18)	Friday, July 6, 2018
Submit Transfer Vouchers to Accounting	Friday, July 6, 2018
Time Sheet for Split BW14 Biweekly Payroll (June 23rd - July 6th)	Friday, July 6, 2018

ACTION ITEMS:

June 30, 2018 Preliminary Year-End Reports
On Thursday, July 5, 2018, preliminary year-end June reports will be available via e-print.  Please review these reports and submit notification of corrections to the Accounting Office by Friday, July 6, 2018. The account activity is also available online at any time through Banner. NOTE: June – September 2018 final reports will not be available until mid-October 2018.

Obligations
Please review your accounts for Tigerbuy Purchase Orders using the FPIOPOF screen in Banner INB or SSB Encumbrance Query to determine which open purchase orders require invoices, are no longer required, and which ones need to be carried forward into FY18. Please note that this review should be done throughout the year, as well as, at year-end.  Travel Claims for FY18 Travel Purchase Orders should be in Accounting by July 6th, FY18 Travel POs do not roll to the new fiscal year.

Invoices

• Ensure all purchases received by Friday, June 30, 2018, are receipted in Tigerbuy by July 2nd. If invoices are sent directly to your department, please hand deliver them to the Accounting Office by the Friday, July 6th deadline.
• Outstanding purchase orders for goods and services not received by June 30th will be charged against FY 2019 funds.
• Purchases received by June 30th that were made outside of the Tigerbuy system should be reported to General Accounting at accounting@memphis.edu by July 5th, whether or not an invoice has been received.

Staples Purchases

• Orders submitted by June 25th to be delivered by June 30th will be charged to FY18.
• Orders delivered after June 30th will be charged to FY19.

Travel Purchase Orders

• Deobligate/Close PO's by e-mailing accounting@memphis.edu.
• Submit outstanding FY18 travel claims to the Accounting Office by Friday, July 6.
• Travel that begins on or before June 30, 2018 and ends in July will be charged to FY19. Please submit all future year travel purchase order (FY19) requests to the Accounting Office using the Request for Future Year Travel Authorization available at http://www.memphis.edu/bf/forms/finance.php.

QUESTIONS?

Should you require additional information, please contact the Accounting Office at x2271 or by e-mail at accounting@memphis.edu.

PROCUREMENT DEADLINES

Below are the deadlines for current year (FY18) and future year (FY19) requisitions.

Please contact Procurement and Contract Services staff at x2265 or by e-mail at procurement@memphis.edu if we can assist with your purchases. For your convenience, Tigerbuy Training may be scheduled through Learning Curve for anyone needing new or refresher training.

Deadlines for Current Year (FY18) Purchase Requisitions

May 15, 2018: FY18 Purchase requests should be submitted to Procurement based on the following guidelines: Purchases >$10k that require bidding and award of contract before July 1, a ‘Bid Supplier’ requisition must be submitted to Procurement and Contract Services. Award must be finalized prior to start/effective date of the contract. June 1, 2018:  All Purchases/contracts, or supplier’s terms and conditions, that require signed University approval and review by Procurement and Legal, regardless of the dollar amount, must be submitted to Procurement and Contract Services for approval prior to effective date. This includes contracts that require TBR approval and signature.

June 8, 2018: FY18 requisitions that do not require bidding.  For purchases initiated in the current year (FY18), accrued expenses will be processed as follows: If goods/services are received on or before June 30, 2018, the expense will be posted in FY18. If goods/services are received after June 30, 2018, the expense will be posted in FY19.

June 22, 2018: Cancel, adjust or deobligate remaining balances on FY18 purchase orders. Review open purchase orders and enter a Change Order Request form in Tigerbuy to cancel, adjust or deobligate purchase orders.

 

Deadlines for Future Year (FY19) Purchase Requisitions

May 15, 2018: FY19 Purchase requests should be submitted to Procurement based on the following guidelines: Purchases/contracts ≥$250k requires TBR approval and must be finalized and submitted to TBR by June 1, 2018, for effective contract of July 1, 2018. Purchases/contracts ≥$250k that are sole source, and a term of more than 1  year require Fiscal Review Committee (FRC) approval, must finalized and submitted to TBR 75 days in advance of the start date. (effective date July 15, or later). REMINDER: Time must be allowed to negotiate contract and/or supplier’s terms and conditions prior to routing to TBR or Fiscal Review Committee for approval and signatures. May 15, 2018: FY19 Purchases (≥$10k) that require bidding with an effective contract start date of July 1, 2018, to allow sufficient time for the bid process.  All contracts that require a signed University-approved agreement, regardless of the dollar or bid thresholds must be submitted to Procurement and Contract Services for approval prior to the contract start date.                             June 8, 2018: FY19 requisitions that do not require bidding with an effective contract start date of July 1 may be entered starting June 8, 2018.  However, Purchase Orders (PO) will not be issued to suppliers prior to FY19, beginning Monday, July 2, 2018.                                     If a supplier requires early notification that a purchase order is forthcoming on July 2, advise Procurement & Contract Services and a Letter of Intent to purchase can be sent to the supplier. IMPORTANT Year End Process for all FY-19 Requisitions entered in Tigerbuy:  May 15 - June 30, 2018: Under the Billing Options section of the requisition, enter July 1, 2018 in the Accounting Date field.   July 1, 2018: Under the Billing Options, Tigerbuy will default to "No Value."  Do not enter a date. Requisitions processed July 1 or after will issue FY19 purchase orders.