UT TYLER FY 19-20 YEAR END CLOSE Purpose of meeting: 1) Inform - - PowerPoint PPT Presentation
UT TYLER FY 19-20 YEAR END CLOSE Purpose of meeting: 1) Inform campus of the cut off dates and various year end close activities they need to be aware of. 2) Initiate coordination between departments to develop a year end close
Purpose of meeting:
1) Inform campus of the cut off dates and various year end close
activities they need to be aware of.
2) Initiate coordination between departments to develop a year
end close calendar/schedule that will enable UT Tyler to successfully close out FY 19-20.
3) Seek input on how Business Affairs can improve the year end
close processes.
Campus wide topics will be address first. We will make note when
the issues addressing the entire campus have concluded. Members are welcome to continue with the meeting or drop off as needed.
Second half of the meeting will be directed towards the Business
Affairs departments. We will be going through the consolidated year end close calendar and discuss any issues from last years cycle.
August 31 is the last day of our 2019-2020 financial year. Numerous processes
and work flows need to be coordinated in order to close successfully.
Your area will be impacted if you have personnel changes, payroll,
purchasing, pro card, invoice payments, budget transfers, account reconciliations, deposits, journal entries, book store or Sodexo charges.
Financial reporting department will post a consolidated calendar on it’s web
Currently there is a DRAFT calendar posted. Once all dates are firm we will
update it and indicate that it is the FINAL version.
Payroll cycle will continue to operate on it’s current calendar. Just a few
dates related to August payroll have been included in the consolidated calendar so the campus is aware of multiple tasks which occur during the same time frame.
A brief description of the procurement deadlines have been incorporated
into the year end calendar. More complete explanations of the deadlines are posted on the financial services website.
Items in yellow are addressed to
the campus wide community.
August is a critical month, please
plan ahead.
Links to other referenced
calendars on in red below
New account reconciliation system FY 20-21. Business Affairs
departments are targeted to go live in July. The rest of the campus community target date is October 2020. Training sessions will begin the month prior to going live.
Are there any questions or suggestions at this point ? We will be holding two additional meetings. All are welcome to
participate and bring issues/concerns to our attention.
Please refer to the posted year end close calendar as we approach
the July/August time frame.
Thanks for your time, and this concludes the portion directed
towards the campus wide audience.
Please be sure to have a representative from your area in the next two
meetings.
I will incorporate todays feedback into the calendar and address issues which
come up. In the second meeting we will review again and communicate any process changes. Goal is to have a solid calendar and process by the third meeting.
I started with last years calendars and then asked for the areas to review. I created a color key to indicate each different departments dates on
calendar
If we find a date needs to be changed, there is still time During year end close please communicate with financial reporting if there
are issues with meeting dates. We can work around things, we just need to know ahead of time.
If there are areas for improvement in the year end cycle please bring up
when I cover your area
We will be going department by department and reviewing their calendar
dates
Aug 28th Cash receipts due to cashiers office Financial Reporting will notify SBS when all of August “SF” journals are posted. Sept 14th -Bad Debt and Tuition Discounting Due
Aug 28 Advancement send endowment overview to Shaquita Sept 9 Pledge info, Benefit Accrual Sept 10 ITF/STF, Due to/due from SIA 4th Qtr Sept 14 9910 reclass ITF Mkt Value Adj Sept 23 Sign off for b-6 and A&L Sept 25 Cash matches treasury GASB 40
I pulled all the dates from the Procurement close
schedule posted on the website
I used last years calendar to come up with pro-card,
travel ext. deadlines. When you have updated information let me know and I will add to my calendar.
Payroll will use their current published payroll calendar. Payroll is a significant factor in the year end close process. There
are many down stream activities which happens after the final
payroll according to the published calendar.
The only thing on calendar is the cut off for eforms. Please work with payroll to determine valid date. At this point I have it as August 7th.
Sept 8 Financial Reporting will do first set of balance sweeps Sept 14 Financial Reporting will do second set of balance sweeps Sept 18 Year end accruals posted to budget Sept 25 Financial Reporting will do final set of balance sweeps The payroll journal posting dates on the payroll calendar. Let us know if there are issues with meeting these dates.
These dates are estimates, we will need to find the official state/federal dates and update the calendar
August 3 Pass Through confirmations begin Sept 16 SEFA Website populated Sept 18 SPTR and SEFA Due Sept 24 S-4A Due