As we approach the end of the calendar year, this is a friendly mid-fiscal-year reminder to submit any outstanding items for the last few months before we leave for winter break. As we are quieting down over the next few weeks, now is a great time to do a review of your funds. Here are some recommended action items:
- Review any open purchase orders that remain on your index/fund so that Budget can prepare accurate mid-year reports. Take this opportunity to access Banner and go to the FPIOPOF page to look up any purchase orders that are still open on an index that belongs to you. If you need assistance with liquidating purchase orders, please contact procurement@citadel.edu.
- Review your fixed asset list to make sure it is up to date. If you have new assets that need to be tagged, please contact procurement@citadel.edu. As a reminder, assets over $5,000 must be tagged. If you are unsure if something should be tagged, please ask.
- Enter a receipt into the system for all goods and services that have been received & rendered against your purchase orders to date so that invoices can process for payment. If it is the final receipt on a purchase order and there are funds remaining, please work with procurement to liquidate the purchase order and unencumber the funds.
- Submit any invoices for goods and services received to date to Accounts Payable by emailing them to ap@citadel.edu.
- Submit travel reimbursement expense reports for any trips that have been completed via Chrome River.
- Submit any other expense reimbursement reports for any purchases that have occurred via a Direct Pay Request (DPR).
- Submit any interdepartmental transfers (IDTs), journal vouchers, transfer requests, etc. that you are aware of to finance@citadel.edu.
- Drop off any cash receipts or checks that have been received to date to Student Business Services.
- Review year to date activity, open encumbrances, and available budgets and make a plan for spending in the 2nd half of the fiscal year.
When we return in January, please plan to work on closing out any remaining items for December such as your p-card reconciliations, IDTs that can’t be done until the following month, invoices received over the winter break, etc. Doing this now will help ensure a smooth fiscal year close in June.
Here are some key dates to keep in mind:
- Last check run for calendar year 2024 will be Thursday, December 19th
- Last direct deposit run (vendors) for calendar year 2024 will be Friday, December 20th
- First check run and direct deposit run for calendar year 2025 will be Thursday, January 2nd
- December p-card reconciliations will be due Wednesday, January 15th
We appreciate everyone’s assistance in helping to stay on track this fiscal year. Please let us know if you have any questions or concerns.
Contact Info:
Budget Office: https://www.citadel.edu/budget/contact-the-budget-office/
Financial Services: https://www.citadel.edu/fins/contact-us/
Procurement Services: https://www.citadel.edu/procurement/contact-us/
Student Business Services: https://www.citadel.edu/sbs/contact-us/