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FY 2009 Year End Payment Processing

DATE: June 4, 2009
TO: All Bi-Tech Users
FROM: David Levin
RE: FY 2009 Year End Payment Processing

FY 2009 Year End Processing PDF

FY 2009 vs FY 2010:

Expenses for goods received and services performed on or before June 30, 2009 will be charged to FY 2009, while expenses for goods received and services performed on or after July 1, 2009 will be charged  to FY 2010.    The Accounting Office will follow this rule for all vendor invoices and employee reimbursements, regardless of the fiscal year in which the purchase order or voucher was created – until we close our books for FY 2009 on August 14, 2009.   After that date, all expenses will be charged to FY 2010.

PRE-PAID EXPENSES AND EXPENSES THAT CROSS FISCAL YEARS:

Pre-paid expenses are expenses chargeable to FY 2010 that are actually paid before July 1, 2009.

Any department with expenses relating to FY 2010 which must be paid prior to July 1, 2009 (for example: on-going maintenance contracts, memberships, subscriptions, or travel/conference fees), should enter the entire amount against their FY 2009 budget and indicate in the notes of the requisition/voucher that the expenses is to be fully or partially applied to FY 2010.

Remember, any travel that will occur after July 1, 2009 will be charged to FY 2010.

CONTRACTS THAT CROSS FISCAL YEARS:

If your department has a service contract, lease, memberships or subscriptions that crossed fiscal years and needs to paid prior to July 1, 2009, you should contact Al Place (7-3603) or myself (7-73602) to ensure that the expense is properly split between fiscal years.   You will need to provide the vendor number, cost center and object code to be charged, and appropriate back-up (invoice, contract, etc) for Accounts Payable.   The contract should have already been approved by the Purchasing Office.

FY 2009 EXPENSES PAID AFTER JULY 1, 2009:

Departments receiving or holding invoices or creating Expense Reports relating to FY 2009 after June 30, 2009 should submit the appropriate paper work via direct delivery, email or workflow to Accounts Payable as soon as possible (see below).  Any invoices or vouchers received by Accounts Payable after August 14, 2009 will be charged against the department’s FY 2010 budget. 

  • If an invoice belongs to an open FY 2009 regular purchase order (PO Type P), you should write the purchase order number and FY 2009 on the invoice before submitting it directly to Accounts Payable for payment.  Only invoices properly chargeable to FY 2009 will be paid against FY 2009 purchase orders.
     
  • If an invoice belongs to an open FY 2009 blanket purchase order (PO Type B), you should write the PO# , FY 2009 and O.K. to PAY on the APPROVED INVOICE before scanning and submitting it to Accounts Payable at blanketpo@fitnyc.edu (please name the scanned file as specified in the Revised Blanket & Contract PO Payment Processing guidelines).  Only invoices properly chargeable to FY 2009will be paid against FY 2009 blanket purchase orders.
     
  • If an invoice does not belong to an open FY 2009 purchase order (such as an employee expense reimbursement), the department should process a voucher (PR.VOUCH) for the invoice against its FY 2009 budget.  To do this, the user will need to change the Date field in the POUPPR screen to 06/30/2009:


You should also type FY 2009 in the notes section of the voucher.  Then scan and attach the required back-up to the voucher and send it through workflow to get the proper approvals as it makes its way to Accounts Payable for payment.  This procedure should be used only for vouchers, not purchase requisitions.

If a department needs to relieve part or all of an unspent encumbrance to free up funds for FY 2009 expenses, please use the Request to Revise a Purchase Order form at the Bi-Tech link on INSIDEFIT.  If a department has questions about transferring budget authority between cost centers and object code groups, they should contact Nancy Su in the Budget Office.

ENCUMBRANCES AND PURCHASE ORDERS:

Departments awaiting delivery of goods against FY 2009 purchase orders should contact the vendor and/or Purchasing Department.  As mentioned above, any items received after June 30, 2009 will be charged to FY 2010.  Departments should review and follow up on any unpaid items in the “Encumbrance” column on their “Budget to Actual with Encumbrance” CDD Reports to ensure that all expenses belonging to FY 2009 are  paid before August 14, 2009.  Please contact Accounts Payable (73610) if you see Vouchers or POs still in the “Encumbered” column for which you know the goods have been received or services provided.

A department’s unexpended encumbrances at June 30, 2009 (for both open PO’s and blanket PO’s) will not carry over into the department’s FY 2010 budget, nor will a department be able to charge FY 2010 expenses against a PO created in FY 2009.  All FY 2010 expenses will be charged against the department’s FY 2010 budget, regardless of any remaining balances or open PO’s from FY 2009.

Since departments will not be able to charge FY 2010 expenses against PO’s created in FY 2009, each department will need to create any required blanket PO’s for FY 2010 expenses as soon as possible after July 1, 2009.