Fiscal Year End

Fiscal year-end procedures are now available for reimbursement and payment requests and purchasing cards (pcards).

Reimbursement and Payment Requests

• All Reimbursement and Payment Request forms to be paid against your FY22 budget need to be submitted to the Controller’s Office by Friday, July 15. Requests received after this date will be reviewed for materiality as to whether an accrual will be made to charge it to FY22, or if it will be paid against your FY23 budget.
• Expenses submitted prior to June 30, but are for travel or events that occur during FY23 will be accrued and paid against your FY23 budget. Just because your budget has additional funds at the end of the fiscal year, doesn’t mean that the expenses will be charged against your FY22 budget. For instance, if a plane reservation is made on June 15 for travel in July, or later, that expense will reflect in FY23.
• Please note that all goods and services must be received by June 30. The Controller’s Office will review all orders for service date and time of delivery to ensure purchases are received by June 30. Any deliveries received after June 30 will need to be processed against your FY23 budget.

Questions can be directed to Lori Watson at duax@up.edu or X7337.

Purchasing Cards (Pcards)

• Most June pcard purchases will be charged to your FY22 budget, except those purchases that fall in one of the above outlined scenarios. In order for transactions to be charged to FY22 it is necessary for the transactions to be submitted by the vendor to the bank by June 30. 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 pcard at the end of the fiscal year. Backordered items or transactions not posted by June 30 may be charged to FY23 budgets. Making purchases during the last week of June is discouraged since it can be difficult to know when charges will be posted.
• Purchases for expenses to be charged to FY23 should be clearly identified as such in the description in Wells Fargo when reconciling your pcard. An example of a description should read “For travel to San Francisco July 2022 – FY23.” The transactions will be reviewed for accuracy and charged to the appropriate fiscal year.
• Please notify the Controller’s Office of purchases posted on your July 2022 pcard that should be charged to FY22 no later than Friday, July 22. Please submit an email to Lori Watson (duax@up.edu) with a listing of such charges. The request should include cardholder name, vendor and amount for each transaction. Please ensure that the invoices or receipts have been uploaded into Wells Fargo when the request is submitted. Requests without the necessary information will not be processed. The transactions will be reviewed for accuracy and charged to the appropriate fiscal year. Submissions received after July 22 will go against your FY23 budget.
• Please note: Making a notation in the Wells Fargo description is not sufficient notification to the Controller’s Office. July transactions are not reviewed by the Controller’s Office until mid-August which is too late for us to make adjustments. An email with the requested information is required.

Pcard related questions can be directed to pcard@up.edu.