Fiscal Year 2024 Year-End Calendar of Critical Dates

& Deadlines

 

Below are the critical dates for Fiscal Year 2024 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.

Monday, June 3, 2024

  • Customer Invoices/Accounts Receivable invoicing begins in Workday for FY 2025. 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 10, 2024

  • Last day for Tech store FY 2024 Internal Service Deliveries for ordered equipment not in stock. ISD expense for items not received before 7/1/2024 will be moved to FY 2025 even if ordered before 6/10/2024. Contact UITS - Tech Store 575-5414 or comstore@uark.edu.

Wednesday, June 12, 2024

  • Expected Gift expenses through 6/30 are recorded in Workday and through approvals. The gift’s Daily Available Foundation Cash Balance needs to be sufficient to reimburse for known expenses through 6/30. The funding source for those expenses exceeding the Foundation’s stated gift balance will need to updated and through approvals by this date.

Friday, June 14, 2024

  • Receiving & Supplier Invoices 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 submitted a “Create Receipt” for FY 2024 merchandise physically received by June 30th. Contact AVCF - Accounts Payable, acctpay@uark.edu

Saturday, June 15th, 2024

Monday, June 17, 2024

  • FY2025 Financial and Position Budget Load into Workday Sandbox Contact AVCB – Budget - budget@uark.edu.

Thursday, June 20, 2024

Friday, June 28, 2024

  • First of two cut off dates for Credit Cards Year End.. First of two cut off dates for Credit Cards Year End. Charges for June 1 through June 15 must be approved by June 28, 2024, in order for June charges to expense in FY 2024 accounting. Contact AVCB – eProcurement, pcard@uark.edu
  • Last day for deposits to post in June · Last day for deposits to post in June. All funds received on or before June 28, 2024 by a department on campus must be receipted in CASHNet and deposited at First Security Bank by 3:00 pm on June 28th. If you have money/checks on hand, deposits need to be made by this deadline to ensure receipt in appropriate fiscal year. Contact AVCF - Treasurer’s Office Katie Marie Smith; kms08@uark.edu.
  • Inventory counts completed on June 28th – July 1st. Have inventory completed before issuing any items on July 1st. Contact AVCF - Controller’s Office Ty McCain; tymccain@uark.edu.

Tuesday, July 2, 2024

  • FY 2025 Financial and Position Budget Load into Workday Production. AVCB – Budget budget@uark.edu..

Friday, July 5, 2024

  • Second of two cut off dates for Credit Cards Year End: Charges for June 16 through June 30 must be verified by July 5, 2024 in order for June charges to expense in FY 2024 accounting. Contact AVCB – eProcurement Pcard: pcard@uark.edu Tcard: uatravel@uark.edu

Monday, July 8, 2024

  • Tech store FY 2024 Internal Service Deliveries for ordered equipment not received before 7/1/2024 to be adjusted to 7/1/2024 (FY 2025) accounting date.
  • WEX Fuel Charge for June 1 through June 30 must be approved by July 8, 2024 in order for June charges to expense in FY 2024 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 Controller’s 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 their total postage as of the end of the June 30, 2024 business day (or start of business 7/1/2024) to Controller’s 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 2024 as well as any buildings that no longer exist, including an explanation of disposal. Contact AVCF - Property Accounting Janice K. Harrison; janiceh@uark.edu.
  • Travel Claims/Expense Reports and Invoices must be received by the Travel Office by July 8, 2024 to ensure expensing to FY 2024 accounting. Contact AVCF - Travel Office uatravel@uark.edu.

Tuesday, July 9, 2024

  • Last Hourly Payroll Time Due for June hours Contact AVCF – Payroll payroll@uark.edu

Thursday, July 11, 2024

  • Agent Advances Expense Reports must be submitted and approved. Contact AVCF - Controller’s Office 479-575-4547
  • Personal Reimbursement Request Must be submitted and approved by July 11, 2024 for FY 2024 expenses. Contact AVCB – Procurement 4help@uark.edu or your Procurement Coordinator
  • Change Orders and Contract Amendments must be submitted and approved by this date. Contact AVCB – Procurement 4help@uark.edu or your Procurement Coordinator

Friday, July 12, 2024

  • All invoices including regular invoices, Supplier Invoice Requests, Utilities, Construction and Library must be received by Accounts Payable along with receiving performed (when applicable) Received date needs to be June 30, 2024 or prior to be expensed in FY 2024. Contact AVCF - Accounts Payable acctpay@uark.edu.
    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 2024.

Monday, July 15, 2024

  • All Internal Service Deliveries must be approved by this date. Contact AVCF - Controller’s Office.
  • Procurement activity becomes a closed activity. Contact AVCB – Procurement 4help@uark.edu or your Procurement Coordinator

Tuesday, July 16, 2024

  • Accounts Payable Closes Suppliers and Ad Hoc’s payments are closed. Contact AVCF - Accounts Payable acctpay@uark.edu.
  • Customer Invoices/Accounts Receivable closes for the campus for goods or services provided in FY 2024. The date goods or services are provided determines the fiscal year revenues and accounts receivable will be recorded. AVCF - Treasurer’s Office, Penny Mills, 575-8451 or plmills@uark.edu.

Wednesday, July 24, 2024

  • Last day for Accounting Adjustments and Payroll Accounting Adjustments (PAA’s). Transactions need to be through approvals by end of day to be accounted for in the appropriate fiscal years. Review date populated on accounting adjustments to ensure proper recording in fiscal year. Necessary Line Item Max (LIM) PAA’s completed by this date. Contact AVCF - Controller’s Office.
  • Payroll & Accounting Adjustments are closed for FY 2024.
  • Transactions for any FY 2024 unreimbursed gift expenses needing to be recorded on the gift to be funded by the Foundation in FY 2024 need to be through all approvals on this date Ensure gift available balance is sufficient to reimburse for known expenses through 6/30. Contact AVCF - Controller’s Office.
  • Last day to submit & obtain final approval for campus Budget Amendments (BAMS) and Manual Journals for FY 2024. After this date unapproved manual journals will be changed to a FY 2025 date or canceled. Contact AVCF - Controller’s Office.

Monday, August 12, 2024

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