04-a-016 - Closing of Fiscal Year 2004 and Opening of Fiscal Year 2005 (April 20, 2004) (Supersedes 03-a-019) (Superseded by 05-a-018)
Posted on 10/21/2021 at 12:49 PM by Kansas Department of Administration
|INFORMATIONAL CIRCULAR NO. 04-A-016||(Supersedes03-a-019)|
|DATE:||April 20, 2004|
|SUBJECT:||Closing of Fiscal Year 2004 and Opening of Fiscal Year 2005|
|A & R CONTACT:||Annette Witt||(785) 296-8083||(email@example.com)|
|Central Accounting Services Section|
|Steve Banning||(785) 296-7059||(firstname.lastname@example.org)|
|Payroll Services Section|
|Carol Sprague||(785) 296-4151||(email@example.com)|
|Office of the State Treasurer|
|SUMMARY:||Schedule of Accounting Events Relative to Fiscal Year Closing|
This Informational Circular provides the scheduled dates for closing fiscal year 2004 and beginning fiscal year 2005. Additional information concerning fiscal year end closing and DA-118 List of Outstanding Obligations instructions is contained in the Division of Accounts and Reports Policy and Procedure Manual filing nos. 14,002 and 14,003. The Policy and Procedure Manual is located at http://www.da.ks.gov/ar/ppm/ppm01001.htm. Other web resources available for fiscal year end processing information can be found at http://www.da.ks.gov/ar/yearend/.
K.S.A. 75-3002 establishes the state fiscal year as commencing on the first day of July in each year and closing on the thirtieth day of June of the succeeding year. To allow state agencies time to process as much old year business as possible, the old year records normally remain open through the second Monday of July (PPM No. 14,002). So, for the fiscal year 2004 closing, the cutoff date will be Monday, July 12, 2004. Between July 1 and July 12, the Statewide Accounting and Reporting System (STARS) will process old and new fiscal year business concurrently.
The workload both at your agency and the Division of Accounts and Reports is greatly increased during the fiscal year end closing period. We ask that you use the following reminders and guidelines to help facilitate the fiscal year end processing.
- State Treasurer cash management fees for June 2004 will probably not be billed to agencies in time for payment in FY2004 business; agencies must encumber for payment of this obligation if not paid in FY2004.
- No Budget Worksheets will be printed from STARS. The Budget Worksheet data from STARS will be electronically loaded into the Budget Management System by August 11th.
- The dates provided on this document that relate to fiscal year closing and opening activities will be revised, as necessary, by the Division of Accounts and Reports. Any revisions to payroll encumbrance or other processing dates will be posted on the SHARP Customer Service Website, http://www.da.ks.gov/SHARP/. Revisions to STARS processing dates will be posted on the STARS News Display and notice of revisions to SOKI3+ processing dates will be sent via email to all users.
- Normal hours of availability of STARS is 8AM to 5PM Monday through Friday; 24 hours on holidays and Saturdays, unless a special STARS cycle is requested; Sundays from 1PM through Monday, unless otherwise noted on the STARS news screen.
- SHARP is available from 7AM to 6PM Monday through Friday and 1PM to 6PM Saturday and Sunday. The cutoff for receiving SHARP interface files is 5PM.
- SOKI3+ system is available 24 hours a day except for a maintenance period between 7PM and 8PM daily.
- FY2004 documents receive a higher processing priority than do FY2005 documents during the concurrent processing period.
- There is a two or three day period after the third Monday in July in which no daily transactions are processed.
- Transactions characterized as emergency payments requiring immediate attention during this time should be batched separately and sent to the attention of Jo Ann Remp, Division of Accounts and Reports, Central Accounting Services Section, 900 SW Jackson, Room 351-S, Topeka, Kansas.
- State agencies should review the May monthly reports and process the necessary corrections through the SOKI3+ journal voucher system before June 30.
- Transaction year 2004 and 2005 documents must be batched separately.
- During the concurrent processing period, STARS batch sheets for FY2004 transaction year should have a batch date of "06/30/04", an effective date of "06/30/04" and BFY of 2004.
- During the concurrent processing period, STARS edits FY2005 transactions charged to "expenditure only" type accounts against fund level receipts (both FY2004 and FY2005). FY2004 transactions edit only against FY2004 receipts.
- The available cash in prior fiscal year "receipt and expenditure" type budget units will not be available to fund FY2005 expenditures until FY2004 is closed and balances carried forward.
- In order to check balances in STARS during concurrent processing, agencies need to remember to make the appropriate selection for "prior month".
- If your agency would like to receive reports for June business after July 1, you must ensure that the appropriate report request record is entered into STARS.
- During the concurrent processing period, both FY2004 and FY2005 documents may be processed in the SOKI3+ system; FY2005 interfund vouchers require a BFY of 2005 for both the receipt and expenditure transactions and FY2004 interfund vouchers process as normal. FY2005 JV documents must use a BFY of 2005 throughout. The operator must choose the appropriate BFY when initiating a JV or receipt voucher during concurrent processing.
- Beginning July 14th through year-end closing, agencies should not release any SOKI3+ transactions with a BFY of 2004. Only transactions with a BFY of 2005 will be processed during this period.
- On July 21st, after year-end processing is complete, all fiscal year 2005 SOKI3+ transactions, including encumbered expenditures can be processed and released for upload to STARS.
- All SOKI3+ transactions not uploaded to STARS on July 13th in the final FY2004 upload will be FY2005 business; any SOKI3+ interfund receipt transactions will need to have BFY 2005 and any SOKI3+ unencumbered interfund expenditure transactions will require an encumbrance number and appropriate transaction code changes.
The scheduled dates for closing FY2004 and beginning FY2005 are as follows:
|April 26||Letter advising agencies to prepare Real Estate Encumbrance Renewals (affected agencies only).|
|May 20||Letter requesting agencies to review outstanding encumbrances.|
|May 21||Year-end closing information at ASTRA meeting.|
|June 1||Agencies may begin entering on-line DA-118 transactions.|
|June 2||Annual review of housing, food service and other employee maintenance rates (DA-171).|
|June 14||Accounts and Reports, Payroll Services will insert a new row in the SHARP department budget tables effective dated June 6, 2004 which reflect a budget end date of June 5, 2005 and fiscal year of 2005. Agencies should refrain from entering any rows with an effective-date greater than or equal to June 6, 2004 until after the FY05 insert has been completed.|
|June 15||Fiscal year 2005 valid funds tape and valid PCA tape sent to State Treasurer.|
|June 15||Process payroll encumbrances for Friday, June 18 on-cycle pay date (last FY2004 on-cycle).|
|June 16||Preliminary fiscal year 2005 Central Chart of Accounts available to agencies on the Accounts and Reports website at http://www.da.ks.gov/ar/genacct/CoA/.|
|June 18||Informational Circular to all agencies regarding fiscal year rate changes in payroll deductions and contributions.|
|June 18||Liquidate payroll encumbrances for the on-cycle pay date of June 18.|
|June 21||Last payroll off-cycle to be run for FY2004 in which agencies can enter adjustments/reversals. Review any outstanding checks and process paycheck reversals prior to June 21, 2004. Any checks issued in this off-cycle will be dated June 24, 2004 and charged to fiscal year 2004.|
|June 21||Last payroll off-cycle to be run for FY2004 transactions and will have a paycheck date of June 24, 2004.|
|June 22||Process payroll accounting transactions created for true EFT reversals and cancelled checks and encumbrances from the June 21 off-cycle.|
|June 24||Liquidate payroll encumbrances for the Monday, June 21 payroll off-cycle (checks dated June 24, 2004).|
|June 25||Regents establish Payroll Clearing Fund indexes in STARS for FY2005.|
|June 25||Updates to payroll position pool definitions for FY2005 must be entered into SHARP by 6:00 P.M. in order to be reflected in the charges for the on-cycle paychecks dated July 2, 2004 (first on-cycle paychecks charged to FY2005). Updates should be entered with an effective date of June 7, 2004.|
|June 29||Process accounting transactions created for true EFT reversals and cancelled checks from the June 28 off-cycle.|
|July 1||FY2005 transactions accepted for processing; beginning of concurrent processing period for final fiscal year 2004 transactions; fiscal year 2005 appropriation transactions loaded in STARS nightly cycle.|
|July 1||SOKI3+ system allows FY2005 transactions beginning at 8:00 A.M.|
|July 1||Process payroll encumbrances for the Friday, July 2 on-cycle paycheck date and encumbrances from the June 28 off-cycle (checks dated July 2); process accounting transactions created for true EFT reversals and cancelled checks from the June 30 off-cycle.|
|July 1||State Treasurer cash management fees for June 2004 will probably not be billed to agencies in time for payment in FY2004 business; agencies must encumber for payment of this obligation if not paid in FY2004.|
|July 2||On-line entry of STARS expenditures against BFY2005 appropriated and limited funds; funds available if FY2005 appropriation transactions processed in the July 1st STARS nightly batch cycle.|
|July 2||Liquidate payroll encumbrances for the July 2 on-cycle paycheck date and June 28 off-cycle.|
|July 5||DA-35 electronic files (prior period funding Payroll adjustments) must be received by 5:00 P.M.|
|July 6||Final FY2004 credit card receipts and credit clearing fund fees and charges processed by the State Treasurer.|
|July 6||Liquidate payroll encumbrances for the June 30 payroll off-cycle (checks dated July 6).|
|July 12||State Treasurer accepts final fiscal year 2004 receipt vouchers from agencies until 3:00 P.M.|
|July 12||SOKI3+ receipt documents for FY 2004 must be entered by 3:00 P.M for final fiscal year 2004 receipt transactions.|
|July 12||Electronic transmission of FY2004 expenditure and encumbrance datasets to BDAS must occur by noon. Supporting batched documents must be received in the Central Accounting Services Section by 5:00 P.M.|
|July 12||Central Accounting Services Section accepts final expenditure and encumbrance batches (including DA-118 batches submitted for data entry) from agencies for FY2004 until 5:00 P.M. No firm encumbrances are allowed for State General Fund.|
|July 12||Agencies entering STARS payment vouchers on-line (not dataset) must have final documents for fiscal year 2004 entered by 5:00 P.M.|
|July 12||SOKI3+ journal voucher and interfund voucher documents for FY 2004 must be entered by 11:59 P.M.|
|July 13||Agencies entering payment vouchers on-line (not dataset) in STARS with a June effective date must have paper documents into the Central Accounting Services Section by 12:00 noon to avoid transactions being deleted from STARS. Vouchers processed under delegated audit authority should be released by the agency by 12:00 noon.|
|July 13||SOKI3+ closed to agency users until 3:30 P.M. (JV, IFV and Order Modules)|
|July 13||SOKI3+ open for FY2005 receipts.|
|July 13||Final FY 2004 SOKI3+ upload to STARS.|
|July 13||SOKI3+ open for all FY2005 transactions at 3:30 P.M.|
|July 14||Agencies may enter DA-118's on-line (not dataset) until 5:00 P.M. No firm encumbrances are allowed for State General Fund.|
|July 15||Agencies entering DA-118's on-line (not dataset) must have paper documents delivered to the Central Accounting Services Section by 12:00 noon to avoid transactions being deleted from STARS.|
|July 16||Final processing of June 2004 transactions expected; end of the concurrent processing period (STARS will be open to Accounts and Reports Staff only).|
|July 19||Begin processing for monthly and annual reports and statements, processing of closing and opening entries and preparation of opening and closing transaction reports.|
|July 21||June 2004 monthly STARS reports expected to be mailed to agencies.|
|July 21||Resume processing of July 2004 (FY2005) transactions.|
|July 26||FY2004 closing reports and FY2005 opening reports expected to be mailed to agencies.|
|August 31||Forms DA-82, Certification of Fixed Asset Inspection and DA-87, Annual Capital Asset Reporting and updates to the Master List of Real Property are due in Accounts and Reports.|