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Year End Detailed Guidelines FY17

Click on the accounting or budget function and deadline if you would like more information, or scroll down the page to read about all the functions and deadlines:

'17 AP Vouchers & Expense Reports

'17 Purchase Orders

'17 Budget Transfers

'17 Requisitions

'17 Payroll Supplemental

'17 Purchase Order Invoices

'17 Departmental Functions Using Auxiliary Services

'17 Deposits to Cashier

'17/'18 Purchasing Card

'18 Requisitions for Agreements & Long Lead Time Orders

'17/'18 Graduate Financial Aid

'18 Student Hires


'17 AP Vouchers & Expense Reports

  • Enter FY17 PeopleSoft Voucher & Expense Reports by May 31st and follow the specific Fund Code Approval instructions as follows:
    • Fund Code 2xx and 6xx Approvals:  Enter Voucher & Expense Report and scan documentation through Nolij, or hand deliver to MaryAnn Sullivan, 129 Lake St., Rm. 414 by 10 am on Wednesday, May 31st
    • Fund Code 810 Approvals:  Enter Voucher & Expense Report and scan documentation through Nolij by 10 am on Wednesday, May 31st.  Contact Sue Ennis at 2-4616 with questions.  
    • Other Fund Code Approvals: Enter Voucher & Expense Report, scan documentation through Nolij, and have Department, Fund Code and Special Account approvals by 12 noon on Wednesday, May 31st.
  • To provide Accounts Payable enough time to process all documentation for the final FY17 check distribution, all documentation for Vouchers & Expense Reports needs to be scanned through Nolij or hand delivered to Accounts Payable (129 Lake Street, Rm 200) by 3 pm on Wednesday, May 31st. 
  • Invoices received after the close will be returned to departments. Please review the FY17 Year End Cutoff for Revenue and Expenses memo from the Controller's Office. Contact Greg Moore at gregory.moore@bc.edu, or 2-3362 for guidance on how to process vouchers relating to FY17 to be paid after Wednesday, May 31st.

Questions can be directed to Accounts Payable at acctpay@bc.edu or 2-3366.

 

'17 Purchase Orders

  • Please run your PO Balance Reports to check your outstanding balances on your FY17 Purchase Orders to ensure the proper funds are remaining for FY17.  Directions can be found at “Running the PO Balance Report”.
  • If a PO needs to be increased or decreased please initiate a Purchase Order Change Request. Any PO which has excess encumbered funds should be disencumbered by Friday, May 12th or sooner.
  • Notify Procurement Services at purchase@bc.edu of any Purchase Orders that need to remain open after Wednesday, May 31, 2017 and the reason for the request. Any purchase order not identified with a due date of May 31, 2017 or before will risk being closed.

Questions can be directed to Procurement at purchase@bc.edu or 2-3055.

 

'17 Budget Transfers

  • All temporary budget transfers from Payroll positions (e.g. temporary office pool) must be processed and approved through workflow no later than Friday, May 12th.  This does not apply to Funds 120, 500 and 820.
  • Purchasing Card budget transfers must be completed by Thursday, May 25th by 3:00 pm in order for the bank to update the card balance.
  • Departments can process most other transfers on the Financials system through Wednesday, May 31st.

Questions can be directed to Budget at jennifer.parsons@bc.edu or 2-3383.

 

'17 Requisitions:  Equipment and Non-Equipment

Capital Construction, Information Technology projects, and Sponsored Programs are exempt from the guidelines below. Please contact the following individuals for questions regarding: 

  • Sponsored Programs:  Contact your department's OSP Post-Award Team 

OSP online staff listing (new window)      

  • Technology Acquisitions (software as a service, software license and large hardware purchases):  Contact your ITS Lead

Software and SaaS (cloud based software as a service) purchases require a high level of planning and review around data security and risk mitigation, and departments should be advised that the timeline for these types of purchases can be 2-3 months or longer.  The length of the Technology Acquisition process will vary based on the level of supplier engagement and responsiveness, and risk identified in the software by the BC stakeholders, such as ITS, Procurement Services, Controller's Office, Risk Management or the Office of Legal Counsel. Purchases of technology with end of the fiscal year funds may not be feasible for some purchases due to the complexity unless the reviews and negotiations have been completed. 

Departments planning to utilize FY17 funds must receive goods and services by Wednesday, May 31st:

  • Send all documentation, including bid requests and sole source justifications, to Procurement Services to be reviewed in time to have items sourced and delivered by Wednesday, May 31st.
  • Process any necessary budget transfers.
  • Create all FY17 requisitions so that Procurement Services can obtain bids (over $5,000) and schedule deliveries by Wednesday, May 31st.
  • To ensure delivery by Wednesday, May 31st, place orders for Apple, Dell and Ricoh as follows:
    • Furniture - Monday, March 27, 2017
    • Apple - Friday, April 28, 2017
    • Dell - Friday, May 5, 2017
    • Ricoh - Friday, May 12, 2017
  • Review the status of all FY17 requisitions using the eProcurement Manage Requisitions page to be sure all approvals have been obtained and all Purchase Orders have been sent to vendors (Status = PO Dispatched) 
  • Requisitions for items that cannot be approved and delivered by Wednesday, May 31swill be CANCELLED. 

Procurement Services will review all orders for service date and time of delivery to ensure purchases will be received by Wednesday, May 31st. Any invoices for deliveries to be received after this date will need to be processed against your FY18 budget.

Questions can be directed to Procurement at purchase@bc.edu or 2-3055.

 

'17 Payroll Supplemental (Excludes Funds 120 and 500)

  • Monthly supplemental temporary budget transfers and supplemental payment requisitions must be received by the Budget Office no later than Wednesday, May 3rd to be included in the May monthly payroll.
  • Weekly supplemental temporary budget transfers (non-position related) and supplemental payment requisitions must be received by the Budget Office no later than Friday, May 19th to be included in the Friday, May 26th payroll.

Questions can be directed to Budget at jennifer.parsons@bc.edu or 2-3383.

 

'17 Purchase Order Invoices

All outstanding vendor invoices to be charged against the current year's budget should be submitted to Procurement Services promptly during the month of May to be included in the final AP check distribution for FY17. Please be advised that vendor invoices received after Wednesday, May 31st with a ship date prior to Wednesday, May 31st will be matched and charged against an approved accrual listing of FY17 open Purchase Orders. With the exception of Funds 120, 500 and 820, payment will be made on the basis of the accrued amount only, with any non-accrued invoices or ship dates after Wednesday, May 31st being returned to the department and charged to the new FY18 budget.

Questions can be directed to Accounts Payable at bcinvoices@bc.edu or 2-3055.

 

'17 Departmental Functions Using Auxiliary Services

All University departmental functions organized through Catering and Event Management which take place by Saturday, May 27th will be charged to your FY17 Budget.

Questions can be directed to Auxiliary Services at 2-3181.

 

'17 Deposits to Cashier

  • Deposits of cash, checks and credit cards must be received in the Cashier’s Office, 129 Lake St., Rm 200C by Wednesday, May 31st by 4 pm to receive credit in FY17.
  • All deposits related to FY17 received after Wednesday, May 31st will be credited to a FY17 prior year income account and will not be available in FY18.

Questions can be directed to Cash Services at debbie.jasset@bc.edu or 2-0789.

 

 '17/'18 Purchasing Card

  • FY17 Purchasing Card use (excludes Funds 120/500/820) will close on Tuesday, May 30th by 3:00 pm.
  • In order for these transactions to be charged to FY17, it is necessary for the transactions to be submitted by the vendor to the bank by Wednesday, May 31st.
    • Vendors usually take a minimum of two business days to submit the transactions. Some vendors submit transactions on a weekly basis only. Please keep this in mind when using your Purchasing card at the end of the fiscal year. Backordered items or transactions not received by the bank by Wednesday, May 31st may be charged to FY18 budgets.
  • Transfers to/from FY17 Purchasing Card budgets (excludes Funds 500/820) must be made by 3:00pm on Thursday, May 25th.  
  • All FY18 pre-funded P-cards should be available by Friday, June 2nd. Transfers to FY18 budgets may be made beginning Friday, April 14th through Thursday, May 25th. Transferring permanent funding into your (p-card) budget line will allow your card(s) to become active at the start of the FY18 fiscal year.

Questions can be directed to Pcard@bc.edu or 2-3055.

 

'18 Requisitions for Agreements & Long Lead Time Orders (Excludes Funds 120/500/810/820)

  • As of Friday, April 14th you may process requisitions for purchase order agreements and long delivery date purchase orders against the FY18 budget. 
  • Departments should review their previous year agreements by accessing the PeopleSoft Query “BC_PO_Agreements” and create new agreements by Tuesday, April 25th.   This will assure continuation of service without interruption.
  • New FY18 requisitions for blankets and normal purchase items can be processed on Thursday, June 1st.
  • Only FY18 requisitions for agreements and long lead time items will be approved prior to Wednesday, May 31st

Please remember:  

  • The "Budget Date" on requisitions for agreements and long lead time items should be 6/3/17 for all FY18 orders created before June 1, 2017. 
  • The "Due Date" on requisitions for agreements for the full fiscal year should be 5/31/18.

Instructions for completing FY17 requisitions are described in Creating an Agreement Requisition.

Questions can be directed to Procurement at purchase@bc.edu or 2-3055.

 

’17/'18 Graduate Financial Aid

Payroll Stipends (Service Stipends) - Accounts 53320, 53330, 53340, 53350, 53360

  • All FY17 service stipends must be entered, adjusted and approved by Wednesday, May 3rd.
  • FY18 budgets will be available by Friday, April 14th, and at this time users can begin to create service stipends for Summer 2017 as well as Academic Year 2017-2018. Salary encumbrances will be created for service stipends processed between Friday, April 14th and Friday, May 26th and will be reflected in the FY18 budget available balance.
  • When creating awards for Summer 2017 or Academic Year 2017-2018, change the School Year to 2018.

Non-Service Stipends - Account 62010

  • All FY17 non-service stipends must be entered, adjusted and approved by Wednesday, May 3rd.
  • FY18 budgets will be available Friday, April 14th and at that time users can begin to create non-service stipends for Summer 2017 as well as Academic Year 2017-2018. Encumbrances will be created for non-service stipends processed between Friday, April 14th and Friday, May 26th and will be reflected in the FY18 budget available balance.
  • When creating awards for Summer 2017 or Academic Year 2017-2018, change the Current Year to 2018.

Scholarship (Tuition Remission) - Accounts 61020, 61030, 61040, 61050, 61060

***FURTHER UPDATES WILL BE FORTHCOMING***

  • All FY17 scholarship awards must be created, adjusted and approved by Friday, May 12th to provide the Student Financial Services Office with sufficient time to review and approve the awards before the fiscal year closes on Wednesday, May 31st

Other reminders:

  • As of the FY17 close, any unspent awards or un-awarded funds will be cancelled and the funds no longer available. 
  • You may not use 2017-2018 scholarship funds to cover charges for the 2016-2017 fiscal year. 
  • You may not use 2016-2017 funds to cover 2017-2018 costs. 

Keep in mind Summer 2017 is part of the 2017-2018 fiscal year.

Questions can be directed to Student Services at studentservices@bc.edu or 2-3300.

 

'18 Student Hires

  • Hourly student job requests can be created now for Summer 2017.
  • FY18 Summer hires can be created beginning Friday, April 14th (Except Funds 2xx and 6xx).
  • For further information go to Student Employment, Summer Information on the website of Student Services

Questions can be directed to Student Services at studentservices@bc.edu or 2-3300.