03-a-019 - Closing of Fiscal Year 2003 and Opening of Fiscal Year 2004 (April 14, 2003) (Supersedes 02-a-016) (Superseded by 04-a-016)
|INFORMATIONAL CIRCULAR NO. 03-A-019||(Supersedes02-a-016)|
|DATE:||April 14, 2003|
|SUBJECT:||Closing of Fiscal Year 2003 and Opening of Fiscal Year 2004|
|A & R CONTACT:||Central Accounting Services Section|
|Annette Witt||(785) 296-8083||(firstname.lastname@example.org)|
|Payroll Services Section|
|Steve Banning||(785) 296-7059||(email@example.com)|
|Office of the State Treasurer|
|Carol Sprague||(785) 296-4151||(firstname.lastname@example.org)|
|SUMMARY:||Schedule of Accounting Events Relative to Fiscal Year Closing|
This Informational Circular provides the scheduled dates for closing fiscal year 2003 and beginning fiscal year 2004. 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/.<------- Broken link
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). However, for the fiscal year 2003 closing, the cutoff date of Friday, July 11, 2003, has been selected providing eight business days during which 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.
- 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 Message Panel. 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.
- FY2003 documents receive a higher processing priority than do FY2004 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 Jerry Serk, 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 2003 and 2004 documents must be batched separately.
- During the concurrent processing period, STARS batch sheets for FY2003 transaction year should have a batch date of "06/30/03", an effective date of "06/30/03" and BFY of 2003.
- During the concurrent processing period, STARS edits FY2004 transactions charged to "expenditure only" type accounts against fund level receipts (both FY2003 and FY2004). FY2003 transactions edit only against FY2003 receipts.
- The available cash in prior fiscal year "receipt and expenditure" type budget units will not be available to fund FY2004 expenditures until FY2003 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 FY2003 and FY2004 documents may be processed in the SOKI3+ system; FY2004 interfund vouchers require a BFY of 2004 for both the receipt and expenditure transactions and FY2003 interfund vouchers process as normal. FY2004 JV documents must use a BFY of 2004 throughout. The operator must choose the appropriate BFY when initiating a JV or receipt voucher during concurrent processing.
- Beginning July 15th through year-end closing, agencies should not release any SOKI3+ transactions with a BFY of 2003. Only transactions with a BFY of 2004 will be processed during this period.
- On July 22nd, after year-end processing is complete, all fiscal year 2004 SOKI3+ transactions, including encumbered expenditures can be processed and released for upload to STARS.
- All SOKI3+ transactions not uploaded to STARS on July 14th in the final FY2003 upload will be FY2004 business; any SOKI3+ interfund receipt transactions will need to have BFY 2004 and any SOKI3+ unencumbered interfund expenditure transactions will require an encumbrance number and appropriate transaction code changes.
The scheduled dates for closing FY2003 and beginning FY2004 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 22||Year-end closing information at ASTRA meeting.|
|June 2||Annual review of housing, food service and other employee maintenance rates (DA-171).|
|June 2||Agencies may begin entering on-line DA-118 transactions.|
|June 13||Last payroll off-cycle for fiscal year 2003 in which agencies can enter adjustments/reversals. This off-cycle normally would run on June 16 but has been rescheduled due to the SHARP 8.0 upgrade. Review any outstanding checks and process paycheck reversals prior to June 13, 2003. Any checks issued in this off-cycle will be dated June 20, 2003 and charged to fiscal year 2003.|
|June 13||Accounts and Reports, Payroll Services will insert a new row in the SHARP department budget tables effective dated June 8, 2003 which reflect a budget end date of June 5, 2004 and fiscal year of 2004.|
|June 16||Fiscal year 2004 valid funds tape and valid PCA tape sent to State Treasurer.|
|June 17||Preliminary fiscal year 2004 Central Chart of Accounts mailed to agencies.|
|June 17||Process payroll encumbrances for Friday, June 20 on-cycle pay date (last FY2003 on-cycle).|
|June 20||Informational Circular to all agencies regarding fiscal year rate changes in payroll deductions and contributions.|
|June 20||Liquidate payroll encumbrances for the on-cycle pay date of June 20.|
|June 23||Last payroll off-cycle to be run for FY2003 transactions and will have a paycheck date of June 26, 2003. This is the first payroll off-cycle to be run in SHARP 8.0. Agencies can enter Supplementals for the pay period ending June 7, 2003 but must send any adjustment/reversal transactions for payroll periods ending June 7, 2003 and prior to Payroll Services Section for entry.|
|June 24||Process payroll accounting transactions created for true EFT reversals and cancelled checks and encumbrances from the June 23 off-cycle.|
|June 26||Liquidate payroll encumbrances for the Monday, June 23 payroll off-cycle (checks dated June 26, 2003).|
|June 27||Regents establish Payroll Clearing Fund indexes in STARS for FY2004.|
|June 27||Updates to payroll position pool definitions for FY2004 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 3, 2003 (first on-cycle paychecks charged to FY2004). Updates should be entered with an effective date of June 9, 2003.|
|July 1||FY2004 transactions accepted for processing; beginning of concurrent processing period for final fiscal year 2003 transactions; fiscal year 2004 appropriation transactions loaded in STARS nightly cycle.|
|July 1||SOKI3+ system allows FY2004 transactions beginning at 8:00 A.M.|
|July 1||Process payroll encumbrances for the Thursday, July 3 on-cycle paycheck date and encumbrances from the June 30 off-cycle (checks dated July 3); process accounting transactions created for true EFT reversals and cancelled checks from the June 30 off-cycle.|
|July 2||On-line entry of STARS expenditures against BFY2004 appropriated and limited funds; FY2004 appropriation transactions process in the July 1st STARS nightly batch cycle.|
|July 3||Final FY2003 credit card receipts and credit card clearing fund fees and charges processed by the State Treasurer.|
|July 3||Liquidate payroll encumbrances for the July 3 on-cycle paycheck date and June 30 off-cycle; process accounting transactions created for true EFT reversals and cancelled checks and encumbrances from the July 2 off-cycle.|
|July 7||DA-35 electronic files (prior period funding Payroll adjustments) must be received by 5:00 P.M.|
|July 7||Liquidate payroll encumbrances for the July 2 payroll off-cycle (checks dated July 7).|
|July 11||State Treasurer accepts final fiscal year 2003 receipt vouchers from agencies until 3:00 P.M.|
|July 11||SOKI3+ receipt documents for FY 2003 must be entered by 3:00 P.M for final fiscal year 2003 receipt transactions.|
|July 11||Electronic transmission of FY2003 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 FY2003 until 5:00 P.M. No firm encumbrances are allowed for State General Fund.|
|July 11||Agencies entering STARS payment vouchers on-line (not dataset) must have final documents for fiscal year 2003 entered by 5:00 P.M.|
|July 11||SOKI3+ journal voucher and interfund voucher documents for FY 2003 must be entered by 5:00 P.M.|
|July 14||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 14||SOKI3+ closed to agency users. (JV, IFV and Order Modules)|
|July 14||SOKI3+ open for FY2004 receipts.|
|July 14||Final FY 2003 SOKI3+ upload to STARS.|
|July 15||SOKI3+ open for all FY2004 transactions.|
|July 15||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 16||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 17||Final processing of June 2003 transactions expected; end of the concurrent processing period (STARS will be open to Accounts and Reports Staff only).|
|July 18||Begin processing for monthly and annual reports and statements, processing of closing and opening entries and preparation of opening and closing transaction reports.|
|July 22||June 2003 monthly STARS reports expected to be mailed to agencies.|
|July 22||Resume processing of July 2003 (FY2004) transactions.|
|July 25||FY2003 closing reports and FY2004 opening reports expected to be mailed to agencies.|
|August 31||Forms DA-82, Certification of Inventory and DA-87, Annual Capital Asset Reporting and updates to the Master List of Real Property are due in Accounts and Reports.|