Fiscal Year-End Deadlines & Procedures

Accounts Payable

  • Check Request Policy

Under the COVID-19 policy all new business should be pre-approved using a Purchase Order.   Please see instructions under “Purchase Order Request Procedure”.  A separate check request is not required for transactions using the Purchase Order System.                                   

Deposits

End of the fiscal year deposits to be included in this year’s budget must be in Finance no later than June 30, 2021. Checks dated prior to June 30 must be deposited in the current fiscal year. Please look around your desks and file cabinets to see if there are any lingering items that need to go to the bank. If you are taking vacation during the July 4 holiday, please send your deposits over BEFORE you leave.

Petty Cash

Please submit all petty cash reconciliations to the Finance Department by Monday May 10, 2021. Remember to submit all receipts, cash, and reconciliation reports before this deadline. 

Purchase Orders

The end of the fiscal year is approaching and with that we would like to inform you of a few requirements for year-end purchases. First and foremost, please refer to the recently posted Purchasing Policy. Please remember that if you order goods and services, they need to be physically received/completed by June 30, 2021. Goods and services received after June 30, 2021 will be charged to the 2022-student year. Therefore, all Purchase Requisitions/POs for this fiscal year need to be entered by May 31, 2021. 

Your GFU Visa can be used until June 01, 2021. Concur Expense Reports and Visa Reports for 2020-21 must be submitted by June 30th. Any reports created and submitted after July 1st will be reflected in the 2021-22 budget

If you have questions or concerns please contact Matt Hammar by email or call ext. 2162.

University Visa cards:

To ensure a clean cut-off between FY2020-21 and FY21-22 spending, the last day to use your university Visa card for FY21 purchases is Friday June 18 , 2021. Please refrain from using your card for any purchases after this date. 

If you have questions or concerns please contact Matt Hammar at ext. 2162 or Kathi Becker at ext. 2166.