Rowan University
Welcome to Administration & Finance

Division of Finance

Bole Hall
201 Mullica Hill Road Glassboro, NJ 08028
Phone / 856.256.4125

Office Hours:
Monday - Friday
8:00 am - 4:30 pm

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News and Updates

Dated Posted
Title
5-5-2017
Finance Fiscal Year End Process 2017

Finance Fiscal Year End Process 2017

Fiscal 2017 Year End Closing Dates
Department Heads should review their unit's salary and non-salary accounts to ensure that all operating budgets are not in an actual or projected deficit. ACTUAL AND/OR PROJECTED DEFICITS MUST BE COVERED THROUGH BUDGET TRANSFERS NO LATER THAN 7/14/17.
June 16, 2017 Last day to process requisitions for FY17 goods and services. Please place your purchase order with appropriate documentation and required approvals to allow conversion to PO. Goods and/or services received by the close of the fiscal period June 30, 2017 will be charged to FY17 budget.
June 23, 2017 Office Depot orders should be placed by 6/23/17.
June 27, 2017 All Pcard transactions posted by the credit card company by June 30th will be charged against FY17. ** Cards used will be suspended from this date until 7/1/17.
June 30, 2017 Any open purchase orders at the close of FY17 (6/30/17) will be charged against FY18 budget.
June 30, 2017 Goods to be charged against FY17 budget must be physically and electronically received by the close of business day.
July 03, 2017 The Banner Finance System will be available for FY18 processing.
July 14, 2017 Submit invoices to record FY17 revenue to Accounting Services.
July 14, 2017 Last day to submit requests for Labor Redistribution corrections and adjustments (reallocation of salary and fringe).
July 14, 2017 Last day to post MDV's with a transaction date of June 30, 2017 for FY17 goods and services received on or before June 30, 2017.
July 14, 2017 Cutoff date for processing Accounts Payable documents to be recorded in fiscal year 2017. Such documents include MDVs, travel expense vouchers, and mileage.
July 14, 2017 Last day to submit budget transfers, journal entry requests, and DCAs.
Important Notes
1. Entering a requisition or purchase order does not guarantee that the expense will be processed and paid within the current fiscal year 2017.
2. Cutoff dates (excluding DCAs) do not apply to grant or capital funded accounts.
3. All invoices should be forwarded to the Accounts Payable department or sent to invoices@rowan.edu
4. FY17 Operational Budget surplus will not carry forward into FY18.
5. POs open at the completion of fiscal 2017 will carry forward to fiscal 2018 and charged to the fiscal 2018 budget.
6. Additional information regarding Fiscal Year End Close Out can be found here.

If there are any additional questions or concerns regarding the year-end closing process, please contact:

Accounting Issues: Rita Piccioni ext. 5492
Accounts Payable Issues: Ana Cardona-Parra ext. 4335
Budget Issues: Natalie Beury x 4123
Purchasing Issues: Chris Haley x 4149

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