William & Mary

FY17 Year End Closing

Summary

2017 Fiscal Year End Deadlines

Full Description

The closing schedule includes deadline dates for Procurement & Financial Operations.

You will note that some dates apply to all departments while others may only apply to a few specified departments. Your cooperation in adhering to these dates will enable us to comply with all State regulations and appropriately expend the remaining Fiscal Year 2017 funds allocated to the College and VIMS.

Documents received by the deadline dates noted below will be processed in the 2017 Fiscal Year, within the constraints of cash availability.

Regardless of these deadline dates, please continue to systematically submit all documents as we will continue to process transactions in the normal operational manner as time and cash balances permit. Departments should continue to process vendor payments, in a timely manner, to the accounts payable office throughout the month of June to ensure compliance with the Prompt Payment Act.

If transactions submitted during June are intended for Fiscal Year 2018 processing, please indicate "FY18" clearly on the documents.


DEADLINE

TRANSACTION TYPE

CONTACT

Friday

17-Mar-2017

5:00 p.m.
 (See Procurement Notes:1,2 &3)

W&M and VIMS
Requisitions for non-contract
goods, services, and
equipment, exceeding $50,000

Procurement
[[smlongest, Staci Longest]],
W&M x13960

Monday

03-Apr-2017

5:00 p.m.
(See Procurement Notes: 2&3)

W&M and VIMS

Requisitions of non-contract goods,
services, and equipment
less than $50,000
Procurement
[[smlongest, Staci Longest]],
W&M x13960

Monday

17-Apr-2017

5:00 p.m.
(See Procurement Notes: 2&3)

W&M and VIMS

Requisitions for contracted goods
and services, up to and over $50,000. 
(Vendor lead time will be a factor)
Procurement
[[smlongest, Staci Longest]],
W&M x13960

Friday

02-Jun-2017
5:00 p.m.

W&M and VIMS
Moving & Relocation
Vouchers

Travel
[[lmjarvis, LaDonna Jarvis]],
W&M x12836

Friday

09-Jun-2017
5:00 p.m.

W&M and VIMS
Vendor Payments 
 
W&M and VIMS
Travel Vouchers

Accounts Payable
[[albrown, Amber Brown]],

W&M x12838

[[dewash, Denise Berry]],
VIMS x7034

 

Travel
[[lmjarvis, LaDonna Jarvis]],
W&M x12836

Friday

09-Jun-2017

6:00 p.m.

W&M and VIMS

Banner Payroll

Hourly and Student Employees

Time Sheets

Pay Period 05/16/17 - 05/31/17

Supervisor's Approval
Monday
12-Jun-2017
10:00 a.m.

Payroll
W&M x12848

Friday

09-Jun-2017

6:00 p.m.

W&M and VIMS

Banner Payroll

Salaried Employees

Time Sheets

Pay Period 05/25/17 - 06/10/17

Supervisor's Approval
Monday,  12-Jun-2017
10:00 a.m.

Payroll
W&M x12848

Saturday

10-Jun-2017

5:00 p.m.
(See Procurement Note 4)

W&M and VIMS
BOA VISA  Small Purchase
Charge Card Purchases

Procurement
[[maaustin, Marra Austin]],
W&M x17636

Tuesday
13-Jun-2017
2:00 p.m.

W&M Payroll Redistributions

Data Control
[[sdberr, Sherry Joyner]],
W&M x12835

Wednesday

14-Jun-2017

5:00 p.m.

W&M and VIMS

Transfer Invoices

Journal Vouchers/JV Fuploads

Data Control
[[sdberr, Sherry Joyner]],
W&M x12835
[[zjli, Joey Wermer]],
W&M x12847


W&M OSP

[[krboothe, Keona Boothe]],
W&M x13941


VIMS  Office of Finance

[[v|skpits, Suzanne Pitsillides]],

VIMS x7036

Friday
23-Jun-2017
4:00 p.m.

W&M and VIMS 
Deposit Transmittals

Final FY2017 Deposit Activity

Cashiering
[[lnnice, Linda Nicely]],
W&M x11228
[[v|paulette, Paulette Topping]],
VIMS x7040

Friday
07-Jul-2017
5:00 p.m.

Inventory Reports
Ash Lawn
Facilities Management
Campus Center
Muscarelle Museum
Tennis Center

Financial Reporting
[[stwalker01, Sherree Walker]],
W&M x12834

**PROCUREMENT NOTES:

NOTE 1:  Depending on complexity of goods and services sought, a formal solicitation process is typically a 120 day execution, and may not be possible in the current fiscal year.

NOTE 2: Any purchase request submitted after these dates, or where vendor lead time is a factor, may not allow enough time to review, execute, and receive the item in time for it to be included in FY17 processing.

NOTE 3:  Requisitions of any dollar value submitted later than the stated cut-off dates must identify the fiscal year for which the purchase is intended.

NOTE 4:  Purchases made using the Bank of America VISA Small Purchase Charge Card (SPCC) should be processed by the vendor by June 10, 2017 to be sure the transaction posts to your card account by the close of the June 15th Visa  billing cycle. Allowing additional processing time for these purchases will ensure that orders placed through June 10 will be included on the June statement if the items ordered are available for immediate shipment.  The processing date for charge card transactions is dependent upon the merchant’s accounting practices and could take anywhere from 1 to 4 days for the  transaction to post and be included in your June statement.

Purchase orders created in eVA for delivery and/or payment in the next fiscal year, FY 2018, should have the appropriate fiscal year selected when creating an eVA Purchase Requisition (PR) and should include a line item level Comment that clearly states for the vendor’s benefit that budget for payment is not available until July 1 and delivery should be made on or after that date.  A Purchase Order with FY18 designated will immediately transmit to the vendor; however, the budget encumbrance will go into a holding table until July 1, 2017 after which FY18 PO’s will be completed in Banner for encumbrance against the new fiscal year.

**

We understand there may be situations that require an exception to this schedule. Please contact the individuals listed above, based on document type, in order to accommodate any necessary adjustments.

Thank you in advance for your efforts in meeting these deadlines.