Foundation Year-End Close - Important Deadlines

General, HR, Budget Matters

Foundation Year-End Close - Important Deadlines

Postby kcruz » Tue May 05, 2015 7:17 am

Foundation Year-End Close - Important Deadlines

The following information is being provided to those who have Foundation accounts.

Accounts Payable
Please submit all payment authorizations and vendor invoices as early as possible. If you need a check issued by June 30, we must receive payment authorizations and invoices no later than 3:00 p.m. on June 19, 2015.

Purchase Orders
Purchase order requests (including grants, contracts, and trust accounts) will need to be received by 3:00 p.m. on May 29, 2015 (if $5,000 or more) and June 5, 2015, (if under $5,000).
This is an important deadline if your grant or contract expires or ends on June 30, 2015. Please note that our system is unable to backdate purchase orders.

Released Time Contracts (RTCs)
Completed RTCs, including required signatures, will need to be received no later than 5:00 p.m. on May 15, 2015. If RTCs are received by May 15, Purchase Orders will be issued to the University by June 30, 2015, but payment to the University will not occur until after July 1, 2015.

Cash Receipts
In order to post cash receipts in June, please assure they are received no later than 3:00 p.m. on June 26, 2015.

Salary Cost Transfers
All payroll transactions, journal entries for salary transfers and cost share documentation must be received by July 31, 2015, unless your grant/contract requires an earlier close-out period.

These deadlines apply to all Grants, Contracts and Trust accounts regardless of funding source.

If you have any questions, please contact Foundation Financial Services at 559.278.0850.
kcruz
 
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