01-a-019 - Closing of Fiscal Year 2001 and Opening of Fiscal Year 2002 (April 19, 2001) (Supersedes 00-a-018) (Superseded by 02-a-016)
|INFORMATIONAL CIRCULAR NO. 01-A-019||(Supersedes Informational Circular 00-a-018)|
|DATE:||April 19, 2001|
|SUBJECT:||Closing of Fiscal Year 2001 and Opening of Fiscal Year 2002|
|A & R CONTACT:||Annette Witt||(785) 296-8083||(email@example.com)|
|SUMMARY:||Schedule of Accounting Events Relative to Fiscal Year Closing|
This Informational Circular provides the scheduled dates for closing fiscal year 2001 and beginning fiscal year 2002. 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. However, to allow state agencies time to process as much old year business as possible, the old year records remain open through the second Monday of July (PPM No. 14,002). For the fiscal year 2001 closing, that date has been extended to Wednesday, July 11, 2001. During this period the Statewide Accounting and Reporting System (STARS) processes 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.
- FY2001 documents receive a higher processing priority than do FY2002 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.
- State agencies should review the May monthly reports and process the necessary corrections through the SOKI3+ journal voucher system before June 30.
- Transaction year 2001 and 2002 documents must be batched separately.
- During the concurrent processing period, STARS batch sheets for FY2001 transaction year should have a batch date of "06/30/01", an effective date of "06/30/01" and BFY of 2001.
- During the concurrent processing period, STARS edits FY2002 transactions charged to "expenditure only" type accounts against fund level receipts (both FY2001 and FY2002). FY2001 transactions edit only against FY2001 receipts.
- The available cash in prior fiscal year "receipt and expenditure" type budget units will not be available to fund FY2002 expenditures until FY2001 is closed and balances carried forward.
- During the concurrent processing period, both FY2001 and FY2002 documents may be processed in the SOKI3+ systems; FY2002 interfund vouchers require a BFY of 2002 for both the receipt and expenditure transactions and FY2001 interfund vouchers process as normal. FY2002 JV documents must use a BFY of 2002 throughout.
- Beginning July 13th through year-end closing, agencies should not release any SOKI3+ transactions with a BFY of 2001. Only transactions with a BFY of 2002 will be processed during this period.
- On July 23rd, after year-end processing is complete, all fiscal year 2002 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 FY2001 upload will be FY2002 business; any SOKI3+ interfund receipt transactions will need to have BFY 2002 and any SOKI3+ unencumbered interfund expenditure transactions will require an encumbrance number and appropriate transaction code changes.
- Transactions characterized as emergency payments should be batched separately and sent to the attention of Jerry Serk, Division of Accounts and Reports, Central Accounting Services Section, 900 SW Jackson, Room 351-S, Topeka, Kansas.
The scheduled dates for closing FY2001 and beginning FY2002 are as follows:
|April 17||Letter advising agencies to prepare Real Estate Encumbrance Renewals (affected agencies only).|
|May 21||Letter requesting agencies to review outstanding encumbrances.|
|May 24||Year-end closing information at ASTRA meeting.|
|June 1||Annual review of housing, food service and other employee maintenance rates (DA-171).|
|June 1||Agencies may begin entering on-line DA-118 transactions.|
|June 15||Fiscal year 2002 valid funds tape and valid PCA tape sent to State Treasurer.|
|June 18||Preliminary fiscal year 2002 Central Chart of Accounts mailed to agencies.|
|June 18||Accounts and Reports, Payroll Services will insert a new row in the SHARP department budget tables effective dated June 10, 2001 which reflect a budget end date of June 8, 2002 and fiscal year of 2002.|
|June 18||Process payroll encumbrances for Friday, June 22 on-cycle pay date (last FY2001 on-cycle).|
|June 19||Informational Circular to all agencies regarding fiscal year rate changes in payroll deductions and contributions.|
|June 22||Review any outstanding checks and process paycheck reversals prior to June 25, 2001, which is the last off-cycle payroll charged to FY2001. Any checks issued in this cycle will be dated June 28, 2001 and charged to FY2001.|
|June 22||Liquidate payroll encumbrances for the on-cycle pay date of June 22.|
|June 25||Last payroll off-cycle to be run for FY2001 transactions and will have a paycheck date of June 28, 2001.|
|June 26||Process payroll true EFT reversals and cancelled checks and encumbrances from the June 25 off-cycle.|
|June 28||Liquidate encumbrances for the Monday, June 25 payroll off-cycle.|
|June 29||Regents establish Payroll Clearing Fund indexes in STARS for FY2002.|
|June 29||Updates to payroll position pool definitions for FY2002 must be entered into SHARP by 5:00 P.M. in order to be reflected in the charges for the on-cycle paychecks dated July 6, 2001 (first on-cycle paychecks charged to FY2002).|
|July 2||FY2002 transactions accepted for processing; beginning of concurrent processing period for final fiscal year 2001 transactions; fiscal year 2002 appropriation transactions loaded in STARS nightly cycle.|
|July 2||SOKI3+ system allows fiscal year 2002 transactions beginning at 8:00 A.M.|
|July 3||Process payroll encumbrances for the Friday, July 6 on-cycle paycheck date and encumbrances from the July 2 off-cycle; process true EFT reversals and cancelled checks from the July 2 off-cycle.|
|July 6||Liquidate payroll encumbrances for the July 6 on-cycle paycheck date and July 2 off-cycle; process true EFT reversals and cancelled checks and encumbrances from the July 5 off-cycle.|
|July 9||DA-35 electronic files (prior period funding Payroll adjustments) must be received by 5:00 P.M.|
|July 10||Liquidate encumbrances for the July 5 payroll off-cycle (checks dated July 10).|
|July 11||State Treasurer accepts final fiscal year 2001 receipt vouchers from agencies until 3:00 P.M.|
|July 11||Electronic transmission of FY2001 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 11||Central Accounting Services Section accepts final expenditure and encumbrance batches (including DA-118 batches submitted for data entry) from agencies for FY2001 until 5:00 P.M.|
|July 11||Agencies entering STARS payment vouchers on-line (not dataset) must have final documents for fiscal year 2001 entered by 5:00 P.M.|
|July 11||All SOKI3+ documents for FY 2001 must be entered by 5:00 P.M.|
|July 12||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.|
|July 12||SOKI3+ closed to agency users.|
|July 12||Final FY 2001 SOKI3+ upload to STARS.|
|July 13||SOKI3+ open for FY2002 transactions.|
|July 16||Agencies may enter DA-118's on-line (not dataset) until 5:00 P.M.|
|July 17||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 18||Final processing of June 2001 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 23||June 2001 monthly STARS reports expected to be mailed to agencies.|
|July 23||Resume processing of July 2001 (FY2002) transactions.|
|July 27||FY2001 closing reports and FY2002 opening reports expected to be mailed to agencies.|
|August 6||DA-404, DA-406 and DA-410 Budget Worksheets.|