2010-2011 Fiscal Year End

Year-End Memo

Memo of College policy and instructions for the balance of the fiscal year by Carl Sgrecci, VP of Finance and Administration

TO: All Budget Managers

I want to take this opportunity to remind everyone of College policy regarding expenditures for the balance of the fiscal year, which ends on May 31, 2011, so you can plan accordingly. The last business day of this fiscal year is Tuesday, May 31.

Please review the following instructions carefully. If any of the conditions below are not met, the expenditure will be charged to the new fiscal year (2011-12).

Purchase Requisitions
All requisitions for ordered goods and services chargeable to the 2010-11 fiscal year must be submitted and approved through iProcurement in Parnassus by May 2, 2011.

Purchase Orders
• By May 31, 2011, all goods/services must be in possession of the College or any services completed, and they must be received and completed by the department in Parnassus (iProcurement receiving). This also applies to project and grant accounts (account numbers that begin with 02, 03, or 06) for goods and services purchased in 2010-11.
• If departments have last-minute receipts they are unable to receive in Parnassus by May 31, they should contact Karen Cleveland immediately.

Purchase Order Invoices
• All invoices must be dated on or before May 31, 2011.
• By noon on June 9, 2011, invoices referencing purchase orders must be sent to the accounts payable office.

EZPay
• EZPay invoices must be entered in Parnassus by May 31, 2011.
• EZPay invoices must be dated on or before May 31, 2011, and the goods or services must be in possession of the College by that date.
• After May 31, contact the accounts payable office concerning invoice payments that would normally be processed through the EZPay system. These invoices must be dated on or before May 31, 2011, and the goods must be in possession of the College by that date.

Purchasing Card
• Items acquired using the purchasing card should be purchased by May 15 because any transactions not submitted to the bank by the vendor by May 31 will be charged to 2011-12.
• On Saturday, June 4, the last 2010-11 purchasing card transactions will be loaded into Parnassus and available for approval on Sunday, June 5.
• All purchasing card transactions must be updated by June 9 at noon.

Travel Reimbursement and Travel Card
• Travel must be completed by May 31 except in the case where a trip overlaps the May 31 date. In that case, if the majority of the trip occurs before June 1st, it may be charged to 2010-2011.
• Travel reimbursement requests for 2010-11 must be in the travel services office by June 9, 2011, at noon.
• On Saturday, June 4, the last 2010-11 travel card transactions will be loaded into Parnassus and available for approval on Sunday, June 5.
• All travel card transactions must be updated by June 9 at noon.

If there is an extreme emergency that requires entering an operating account (01 Fund) requisition for the new fiscal year prior to June 1, 2011, call Karen Cleveland for special assistance. It is not necessary to call her for new fiscal year requisitions charged to restricted (02), grant (03), or plant (06) accounts. New year requisitions for these accounts may be entered normally.

Please contact Procurement (274-7341), Accounts Payable (274-3808), Financial Services (274-3309), or Travel Services (274-1480) if you have any questions.

Be sure to check funds availability on your accounts (in Parnassus) before creating requisitions or EZPay payments and before approving credit card transactions in Parnassus. If there are not enough funds in your account, the transactions will fail. For help in checking funds availability, refer to the following documents (or contact the Budget Office at 274-3385):

Inquiring on Funds Available User Guide

Reports User Guide