Fiscal Year 2023 Year-End Calendar of Critical Dates

& Deadlines

 

Below are the critical dates for Fiscal Year 2023 Year-End close as well as departmental responsibilities for providing year-end accounting data to Financial Affairs. Questions regarding the fiscal year-end closing requirements should be directed to the identified staff. If specific staff are not identified, please contact the Controller’s Office with any questions.

Thursday, June 1, 2023

  • Customer Invoices/Accounts Receivable invoicing begins in Workday for FY 2024. The date goods or services are provided determines the fiscal year revenues and accounts receivable will be recorded.  Contact AVCF - Treasurer's Office, Penny Mills, 575-8451 or plmills@uark.edu

 Monday, June 12, 2023

  • Have Gift expenses in place so all known expenses through 6/30 are recorded in Workday and through approvals. Ensure the gift balance at the Foundation is sufficient to reimburse for known expenses through 6/15. For expenses that are greater than the gift balance at the Foundation, move expenses to a different funding source on this date. The updated funding source needs to be through by this date.

Thursday, June 15, 2023

  • FY2024 Financial and Position Budget Load into Workday Sandbox. Contact AVCB – Budget, Chris Frala, cfrala@uark.edu@uark.edu
  • Last Day to Enter Regular Purchase Orders/Requisitions and Sole Source Purchases for FY 2023.  Contact AVCB – Procurement, 4help@uark.edu or your Procurement Coordinator https://businessservices.uark.edu/budgetary-unit-assignments.php
    • No Request for Proposals (RFP) and Invitations for Bids (IFB) until after 7/15/2023
  •  Receiving & Supplier Invoices. Contact AVCF - Accounts Payable, acctpay@uark.edu
    • If you have received merchandise but have not received an invoice, contact the vendor to make sure the invoice is received and paid in the correct fiscal year.
    • Make sure you have completed all receiving entries for FY 2023 merchandise physically received by June 30th.
  • Last day for Tech store FY23 ISD's for ordering equipment not in stock.  *ISD expense for items not received by 7/1/2023 will be moved to FY24 even if ordered before 6/15/2023.  Contact UITS - Tech Store, 575-5414 or comstore@uark.edu

Thursday, June 22, 2023

  • Last Regular Payroll complete 8:00 a.m. Contact AVCF – Payroll payroll@uark.edu

Friday, June 30, 2023

  • First of two cut off dates for Credit Cards Year End.  Charges for June 1 through June 15 must be approved by June 30, 2023 in order for June charges to expense in FY23 accounting.  Contact AVCB – eProcurement, pcard@uark.edu
  • Last Day for Deposits to post in June.  All funds received on or before June 30, 2023 by a department on campus must be receipted in CASHNet and deposited at First Security Bank by 3:00 pm on June 30th. If you have money/checks on hand, make sure it gets deposited by this deadline.  Contact AVCF - Treasurer's Office, Amber D. Sisemore; amber@uark.edu
  • Postage Meters. Any postage processed after today will be processed with FY 2024 funds.  Contact AVCF - Controller's Office, Ty McCain; tymccain@uark.edu

Saturday, July 1, 2023

  • FY2024 Financial and Position Budget Load into Workday Production. Contact AVCB – Budget, Chris Frala, cfrala@uark.edu@uark.edu

Friday, July 7, 2023

  • Tech store FY23 ISD's for ordered equipment not received by 6/30/2023 to be adjusted to 7/1/203 accounting date. Contact UITS - Tech Store, 575-5414 or comstore@uark.edu
  • Second of two cut off dates for Credit Cards Year End. Charges for June 16 through June 30 must be verified by July 7, 2023 in order for June charges to expense in FY23 accounting.  Contact AVCB – eProcurement, Pcard: pcard@uark.edu and Tcard: uatravel@uark.edu
  • WEX Fuel Charges for June 1 through June 30 must be approved by July 7, 2023 in order for June charges to expense in FY23 accounting. Contact AVCB – eProcurement, pcard@uark.edu
  • Stock Inventories: All departments that have stock supply inventories must have their year-end inventories completed and copies submitted to the Associate Controllers Office.  Contact AVCF - Controller's Office Ty McCain; tymccain@uark.edu
  • Postage: All departments that have prepaid postage on hand, such as stocks of stamps or have balances on postage meters, must report total postage as of the end of the June 30, 2023 business day to the Associate Controllers Office.  Contact AVCF - Controller's Office, Ty McCain; tymccain@uark.edu
  • Building Inventories: All units that receive building lists from Property Accounting must have those lists checked and returned to Property Accounting. Please make sure to note on the lists received any new buildings constructed during fiscal year 2023 as well as any buildings that no longer exist, including an explanation of disposal. Contact AVCF - Property Accounting, Janice K. Harrison; janiceh@uark.edu
  • Last Hourly Payroll Time Due for June hours.  Contact AVCF – Payroll, payroll@uark.edu.

Monday, July 10, 2023

  • Customer Invoices/Accounts Receivable becomes a closed activity. The date goods or services are provided determines the fiscal year revenues and accounts receivable will be recorded.  Contact[AG1]  AVCF - Treasurer's Office, Penny Mills, 575-8451 or plmills@uark.edu.

Tuesday, July 11, 2023

  • Travel Claims and Invoices must be received by the Travel Office by July 11, 2023 to ensure expensing to FY23 accounting.  Contact AVCF - Travel Office, uatravel@uark.edu.
  • Agent Advances Expense Reports must be submitted and approved.  Contact AVCF - Controller's Office, 479-575-4547
  • Personal Reimbursement Requests Must be submitted and approved by July 11, 2023 for FY23 expenses.  Contact AVCB – Procurement, 4help@uark.edu or your Procurement Coordinator https://businessservices.uark.edu/budgetary-unit-assignments.php.

Friday, July 14, 2023

  • All invoices including regular invoices, Supplier Invoice Requests, Utilities, Construction and Library must be in Accounts Payable along with receiving performed (when applicable). Received date needs to be June 30, 2023, or prior to be expensed in FY 2023.  Contact AVCF - Accounts Payable, AVCF - Accounts Payable
    • This is the last day to enter goods or services received in June, but the invoice was not received until July to have those expenses reflected in FY 2023
  • All Internal Service Deliveries must be approved by this date.  Contact AVCF - Controller's Office.
  • Change Orders must be submitted and approved by this date.  Contact AVCB – Procurement, 4help@uark.edu or your Procurement Coordinator https://businessservices.uark.edu/budgetary-unit-assignments.php

Monday, July 17, 2023

Wednesday, July 19, 2023

  • AP Closes.  Suppliers and Ad Hoc's change to closed activity.  Contact AVCF - Accounts Payable, acctpay@uark.edu.

Friday, July 28, 2023

  • Last day for Campus Journals, Accounting Adjustments and Payroll Accounting Adjustments.  Contact AVCF - Controller's Office.
    • Payroll & Accounting adjustments become a closed activity.
  • Any FY23 unreimbursed gift expenses need to be recorded on the gift to be funded by the Foundation in FY23.  Transactions need to be through all approvals on this date. Ensure gift available balance is sufficient to reimburse for known expenses through 6/30.  AVCF - Controller's Office; AVCF - Foundation Compliance.

Thursday, August 10, 2023

  • Last day to enter Asset Additions, Record asset changes or disposals.  Contact AVCF - Property Accounting, Janice K. Harrison; janiceh@uark.edu.