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Year End Information for
Financial Affairs
 FY08
External Invoices
FY09
External Invoices
Depositing
Funds
UA
Foundation Deposits
Property
Accounting
Year
End Procedures for Sponsored Programs
GJIM
Transactions
Year
End Checklist
FY08 External
Invoices
The date goods or services are provided determines the fiscal year revenues
and accounts receivables will be recorded. When submitting invoices through
ARS, be aware that the fiscal year cannot be changed.
Invoices submitted by departments and approved through ARS for services rendered
on or before June 30, 2008 will be recorded in FY08.
Any questions concerning these transactions should be directed to:
Chris Harris - 575-3393 - clh03@uark.edu
FY09 External
Invoices
The date goods or services are provided determines the fiscal year revenues
and accounts receivables will be recorded. When submitting invoices
through ARS, be aware that the fiscal year cannot be changed.
Please do not invoice in advance using ARS until after July 1, 2008. All invoices
will be credited for FY09 that are submitted to the Treasurer's Office after
July 1, 2008.
Chris Harris - 575-3393 - clh03@uark.edu
Depositing Funds
All funds received on or before June 30, 2008 by any department on campus should
be deposited with the University Cashier's Office and recorded as an FY08 receipt.
The Cashier's windows will remain open until 5:00 p.m. on June 30th to allow
all departments who receive funds in the mail to deposit them into FY08 accounting.
Any questions concerning these transactions should be directed to:
LeaAnn Slamons - 575-5651 - lslamons@uark.edu
or
Michelle Anderson - 575-6259 - mmander@uark.edu
UA Foundation Deposits
All University of Arkansas Foundation deposits must be deposited no later than
5:00 PM June 30, 2008 to be recorded in FY08. Any deposits after 5:00 PM June
30, 2008, will be recorded in FY09.
Any questions concerning these transactions should be directed to:
LeaAnn Slamons - 575-5651 - lslamons@uark.edu
or
Michelle Anderson - 575-6259 -
mmander@uark.edu
Property Accounting
Stock Inventories: All departments that have stock inventories of supplies
should have their year-end inventories completed, with copies on file with Property
Accounting by Wednesday July 9, 2008.
Postage: All departments that have prepaid postage on hand such as stocks of
stamps or have balances on postage meters, shall report their total postage
as of the end of the business day on June 30, 2008, to Property Accounting.
These balances need to be on file with Property Accounting by Wednesday July 9,
2008.
Building Inventories: All units that receive building lists from Property Accounting
shall have those checked and returned to Property Accounting by Wednesday July
9, 2008. Please make sure to note, on the lists received, any new buildings
constructed during the fiscal year, or any buildings that no longer exist with
an explanation of their disposal.
Year End Procedures for Sponsored Programs
All labor distribution changes for FY08 must be SUBMITTED AND APPROVED by July
24, 2008 to ensure that the transactions show in FY08 on the Departmental Budget
Reports. Labor distributions that are made on sponsored programs should be certified.
Please be sure to make the necessary payroll distribution changes in PSB for
all personnel currently assigned to sponsored program cost centers that have
an inactive date of June 30, 2008.
Interdepartmental invoices and expense transfers on sponsored programs must
be SUBMITTED AND APPROVED by July 24, 2008 to be included on June’s accounting.
Please take the time to review sponsored program cost centers to ensure that
posted expenditures accurately reflect efforts on sponsored programs.
All fund transfers for FY08 must be SUBMITTED AND APPROVED by July 24, 2008.
All UPAYs on sponsored programs for FY08 must be SUBMITTED AND APPROVED by
July 24, 2008 in order to appear on FY08 DBRs.
GJIM Transactions
All GJIM transactions, such as funds transfers, expenditure transfers, and
interdepartmental invoices, with an effective date of June 2008 must be SUBMITTED
AND APPROVED no later than July 24, 2008. If they are not APPROVED by July 24,
2008, these transactions will have to be re-entered into the system for FY09.
Any questions concerning these transactions should be directed to:
Rachel McGathy - 575-4249 - mcgathy@uark.edu
or
Larrie Stolfi - 575-6278 - lstolfi@uark.edu
Year End Checklist
Here's a general year end checklist for you. It is by no means all-inclusive,
just some major points to check before the end of the fiscal year.
Internal Order (IO) transactions for June should be posted by July 9th.
If ordering merchandise at end of fiscal year, need to determine if it
needs to be in this FY or new FY. If for this FY--order in plenty of time
to be delivered by June 30th. If for new FY--do not have merchandise delivered
before June 30th.
If received merchandise and haven't received invoice--contact vendors
to make sure invoice is received and paid in correct FY.
Make sure you've completed all receiving entries for this FY for merchandise
that you have received.
If have any money/checks--make sure it gets deposited in the Treasurer's
Office by June 30th.
Check cost center activity for the year--make sure expenditures are in
the right cost center and right category. Do ET's and FT's as needed and
make sure it is approved by appropriate date.
Business Affairs Year-End Information
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