may2000

BU$INE$$ MATTER$
MAY, 2000
(from the Finance Division for distribution with the April, 2000 CUFS reports)

Important Due Dates

May 22 – All requests for purchase order (requisitions) for fiscal year 2000 due in Purchasing
May 26 – Budget packets (in duplicate) due in the Budget Office; 2001 administrative contracts (signed) due in the Vice President for Finance Office
June 19 – All first summer session and academic year contracts (signed) due in the Vice President for Finance Office
June 30 – end of the fiscal year
July 9 - 1st close reports distributed
July 13 – all corrections and adjustments to 1st close due in the Vice President for Finance Office
July 14 – last day for 2nd close Grant transactions
July 17 – 2nd close reports distributed
July 24 – All second summer session contracts (signed) due in the Vice President for Finance Office
August 18 – end July close
September 9 – end August close

1999-00 Fiscal Year Closing Reminders

Please review the 7979 object code for each of your accounts. This code should have a zero balance at June 30. All corrections for these entries should be submitted to Pat Thompson via email at thompson@ohio.edu.
Please review all rotary and fund 08 accounts for a positive balance at year end. It is imperative that these accounts carry a positive balance going in to the new fiscal year.
All general program units will receive 100% carry-forward at June 30, 2000. Departments should contact their budget unit manager to see how this will affect their individual budgets. Please keep this in mind when you are planning your year-end spending. The 100% carry-forward should help eliminate some of the year-end “rush” to spend budget dollars and give budget units the opportunity to manage their funds wisely and save across years for major purchases.
The University will be closing the books in July. There will be very little time to review June reports and only major corrections will be made after June 30. Therefore, it is imperative that all departments review their April and May CUFS reports and complete all necessary FY 00 transactions and corrections in a timely manner.

2000-01 Fiscal Year Information

The standard benefit expense rates for fiscal year 2001 have been determined. These rates can be found on the Vice President for Finance web site at: http://www.finance.ohiou.edu/budget/stanbenexp01.htm.

Budget preparation information for fiscal year 2000-01 has been distributed to planning units. On or before May 26, 2000, budget packets are due in the Budget Office, HDL Center, Room 276. You may contact the Budget Office at 593-1897 with questions.

Purchasing, Accounts Payable – Transactions

All accounting transactions (request for purchase order, request for payment, requisitions, etc) submitted between now and June 30, 2000 should have the fiscal year to be charged (either FY 00 or FY 01) boldly noted in the body of the transaction. All unmarked transactions will be charged against the budget year in which they are received. For questions, please contact Purchasing at 3-1960 or Accounts Payable at 3-1877.

Purchasing Card Transactions

All purchasing card transactions posted through April 14 appear in the April 2000, CUFS reports.

CUFS report recipients: please remind your staff to look up BU$INE$$ MATTER$ on the web at: http://www.finance.ohiou.edu/ and click on “Fiscal News”

Reminder: all changes in CUFS report distribution (name, address, accounts) for Foundation accounts should be reported to: Karyn Davis via email at davis@ohio.edu,
changes for all other accounts should be reported to: Texanna Well via email at wellt@ohio.edu