Fiscal Year End Events and Deadlines

Once again, year-end is quickly approaching which means a new schedule!  We believe we have taken everything into consideration to allow us a smooth year- end, while providing the service you need.

The cutoff for requisitions in FY15 is Friday, May 8, 2015.  Requisitions must be submitted and approved by the end of the day in order to be purchased in FY16.  Please note:  budget does not roll from one fiscal year to the next (except for capital projects).  If goods or services are ordered, but not received (Banner Receiver not processed) by 6/30/15, the cost will come out of FY16 budget.  If services or goods are received in FY15 they need to be processed and paid prior to the closing of FY15.  Any requisitions received after May 8th for goods and services not yet received, will need to be entered in FY16 beginning on July 1, 2015.

The LCC Card may be used between May 9th and July 1st.  Please keep in mind that transactions incurred towards the end of June, may not be received and posted until July. In addition, all LCC Card expenses must be reconciled & approved by 6/19/2014 to be in FY15.  (Card transactions not reconciled and approved by 6/19/14 will be FY16 transactions and applied against your FY16 budget).  If you have any questions, please call Megan Garrett at x1719.

The Calendar of Events (below) reflects “Due Date” requirements for Accounting and Purchasing to assist you in planning for the last phases of the 2015-2016 Fiscal Year.

Please help us to accomplish our goals by submitting your paperwork in a timely manner.  We will be providing four one-hour forums regarding this schedule to answer any of your questions.  The first forum will be held on Monday, April 13th at 10:00 am in WCP 225.  We would appreciate your sharing this information with others in your area that are involved in any of these processes. Should you have an emergency, please contact your divisional finance officer immediately to discuss alternatives.

Additional Fiscal Year End Forums:

Thursday, April 16th – 3:00 pm – 4:00 pm West Campus W168 – Please RSVP to wittd@lcc.edu or ext 1785 by April 15th

 Tuesday, April 21st – 10:00 am to 11:00 am LCC East Campus Room 110 – Please RSVP to wittd@lcc.edu or ext 1785 by April 20th

 Tuesday, April 28th – 10:00 am to 11:00 am WCP 225

Seleana Samuel                           Megan Garrett

Purchasing                              Accounting

X1790                                      x1719

CALENDAR OF EVENTS

DUE DATE ACTIVITY
 

5/8/15

 

 

  • All 2014-2015 requisitions must be completed, approved, and in Purchasing. If the requisition is not completed and approved by this date, it will need to be re-entered in 2015-16.
 

6/1/15

 

 

  • All PO’s will be completed, goods bought, except for items out for bid.
  • Last day for orders against Blanket Purchase Orders.
  • There should be no new orders on Blanket Purchase Orders from 6/1/15‑6/30/15.  The only PO’s created against Blanket Purchase Orders will be those for purchase authorized prior to 6/1/15 that were pending invoice amount for processing.
6/19/15
  • LCC Card transactions must be reconciled and approved. Transactions after this date must be posted in FY16.
  • Supervisors/LCC Card Approvers must approve all Expense Reports in their approval queue by the end of the day.  Expense Reports not approved by today will be processed for FY16.
6/22/15
  • Accounting will begin processing final LCC Card transactions today.
 

07/6/15

 

  • Accounts Payable cut-off — All invoices must be in Accounting.  Anything received after this date will be processed in FY16