Fiscal Year 2014 Year-End Accounting and Deposit Deadlines
The following timeline will ensure that documents are processed by the fiscal year-end close date. These deadlines must be followed strictly to ensure the accuracy of our annual financial reporting as required by the State Comptroller’s office. Documents received after the published deadline will not be processed without explicit approval by the Chief Financial Officer.
Please plan accordingly, August 31st is on a Sunday this year.
August 29, 2014 (Friday)
• All University departmental deposits must be delivered to University Deposits, Drane Hall Room 163, by 2:00 PM. Items received by this time will be entered into fiscal year 2014. All cash and check deposits received after that time will be deposited into fiscal year 2015. If you have questions concerning revenue accrual entries, contact Financial Services and Tax at fst@ttu.edu.
• Year-end valuation letters for the University Libraries whose book and reference material purchases exceed $5,000.00 annually are due by 5:00 PM. The valuation letters should be submitted by email to Shelby Jackson at shelby.jackson@ttu.edu. If you are unsure if your department is required to submit this information, please contact Shelby Jackson.
• Year-end valuation letters for collections consisting of works of art and historical treasures are due by 5:00 PM. The valuation letters should be submitted by email to Shelby Jackson at shelby.jackson@ttu.edu. If you are unsure if your department is required to submit this information, please contact Shelby Jackson.
• Year-end livestock inventories are due by 5:00 PM. These inventories should be submitted by email to Shelby Jackson at shelby.jackson@ttu.edu. If you are unsure if your department is required to submit this information, please contact Shelby Jackson.
• Direct Pay transactions on ORA funds to be processed against FY14 funds must be entered into the Direct Pay system by 5:00 PM.
• Effort certifications for the January 1-June 30 period are due. Outstanding certifications will be escalated after this date.
• Salary charges must be completely cleared from all temporary salary FOPs. If you need to carry negative fund balances to FY15, please make that request by August 29, 2014, by submitting an email to Simone Barnhill at simone.barnhill@ttu.edu.
September 1st, 2014 (Monday)
• September Accounting Period for fiscal year 2015 will open.
September 4th, 2014 (Thursday)
• FiTS transactions (IVs, CTs and RTs) must be submitted through FiTS with the date of 8/31/2014 for transactions that are associated with fiscal year 2014. All departmental level approvals should be completed by 9/4/2014. Any IVs for consumable supplies and services must be processed in the fiscal year which the goods/services were received.
• All FY14 wires must be claimed by contacting Jaci Velasquez in the Accounts Receivable department at jaci.velasquez@ttu.edu.
• Direct Pay documentation paperwork for FY14 transactions on ORA funds must be received by ORA at janie.alvarado@ttu.edu no later than 5:00 PM.
• Accounts Receivable Listings for any department that has earned and not yet received revenue from external sources as of August 31, 2014, must be emailed to Kara Newcomb at kara.newcomb@ttu.edu.
• Year-end Inventory of Consumable Supplies and Items for Resale in excess of $10,000.00 as of August 31, 2014, must be emailed to Kara Newcomb at kara.newcomb@ttu.edu.
• Labor redistributions must be received by Budget at ambud@ttu.edu by 5:00 PM. Keep in mind that labor redistributions are no longer allowed across fiscal years. If you have salary transfers necessary to meet cost share commitments for FY14, they need to be submitted by this date. Also, please review the program code on all faculty salaries to ensure that the program code and/or program codes allocation is correct.
Financial Services & Tax is located in Drane Hall Room 221, MS 1091, Phone 742-2970
Office of Research Accounting is located in Drane Hall Room 301, MS 1105, Phone 742-2985
Accounts Receivable Reconciliations is located in Drane Hall Room 253, MS 1102, Phone 742-3271
Accounts Receivable University Deposits is located in Drane Hall Room 163, Phone 742-3271
Budget &Resource Planning & Management is located in Drane Hall Room 247, MS 1096, Phone 742-3228
Questions for FST can be directed to FST at fst@ttu.edu . Questions specific to a fund range may be directed to the accountant for the fund or they may be directed to the FST mailbox at fst@ttu.edu. FST Directory http://www.depts.ttu.edu/fst/resources/contactsbfc.asp for a contact list by fund class.
Questions for ORA can be directed to your assigned grant specialist or to ora@ttu.edu.
