05-a-018 - Closing of Fiscal Year 2005 and Opening of Fiscal Year 2006 (April 7, 2005) (Supersedes 04-A-016) (Superseded by 06-a-006)
|INFORMATIONAL CIRCULAR NO. 05-A-018||(Supersedes 04-A-016)|
|DATE:||April 7, 2005|
|SUBJECT:||Closing of Fiscal Year 2005 and Opening of Fiscal Year 2006|
|A & R CONTACT:||
Central Accounting Services Section
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 2005 and beginning fiscal year 2006. 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/default.htm.<------- 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 2005 closing, the cutoff date will be Tuesday, July 12, 2005 to allow an additional processing day. 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 2005 will probably not be billed to agencies in time for payment in FY2005 business; agencies must encumber for payment if this obligation is not paid in FY2005.
- 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 issued as a SHARP message to subscribers of the SHARP listserv. After issuance, SHARP messages are also posted on the SHARP Customer Service Website at http://www.da.ks.gov/SHARP/documents/message.htm. 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.
- FY2005 documents receive a higher processing priority than do FY2006 documents during the concurrent processing period.
- There is a two or three day period beginning the third Tuesday in July during 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 2005 and 2006 documents must be batched separately.
- During the concurrent processing period, STARS batch sheets for FY2005 transaction year should have a batch date of "06/30/05", an effective date of "06/30/05" and BFY of 2005.
- During the concurrent processing period, STARS edits FY2006 transactions charged to "expenditure only" type accounts against fund level receipts (both FY2005 and FY2006). FY2005 transactions edit only against FY2005 receipts.
- The available cash in prior fiscal year "receipt and expenditure" type budget units will not be available to fund FY2006 expenditures until FY2005 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 FY2005 and FY2006 documents may be processed in the SOKI3+ system; FY2006 interfund vouchers require a BFY of 2006 for both the receipt and expenditure transactions and FY2005 interfund vouchers process as normal. FY2006 JV documents must use a BFY of 2006 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 2005. Only transactions with a BFY of 2006 will be processed during this period.
- On July 21st, after year-end processing is complete, all fiscal year 2006 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 FY2005 upload will be FY2006 business; any SOKI3+ interfund receipt transactions will need to have BFY 2006 and any SOKI3+ unencumbered interfund expenditure transactions will require an encumbrance number and appropriate transaction code changes.
The scheduled dates for closing FY2005 and beginning FY2006 are as follows:
|April 26||Letter advising agencies to prepare Real Estate Encumbrance Renewals (affected agencies only).|
|May 18||Letter requesting agencies to review outstanding encumbrances.|
|May 19||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 13||Accounts and Reports, Payroll Services will insert a new row in the SHARP department budget tables effective dated June 5, 2005 which reflect a budget end date of June 4, 2006 and fiscal year of 2006. Agencies should refrain from entering any rows with an effective-date greater than or equal to June 5, 2005 until after the FY06 insert has been completed.|
|June 13||Fiscal year 2006 valid funds tape and valid PCA tape sent to State Treasurer.|
|June 14||Process payroll encumbrances for Friday, June 17 on-cycle pay date (last FY2005 on-cycle).|
|June 15||Preliminary fiscal year 2006 Central Chart of Accounts available to agencies on the Accounts and Reports website at http://www.da.ks.gov/ar/genacct/CoA/.|
|June 17||Informational Circular to all agencies regarding fiscal year rate changes in payroll deductions and contributions.|
|June 17||Liquidate payroll encumbrances for the on-cycle pay date of June 17.|
|June 20||Last payroll off-cycle for fiscal year 2005. Review any outstanding checks and process paycheck reversals prior to June 20, 2005. Any checks issued in this off-cycle will be dated June 23, 2005 and charged to fiscal year 2005. Any supplementals or paycheck reversal/adjustment transactions entered after this date will be charged to fiscal year 2006.|
|June 21||Process payroll accounting transactions created for true EFT reversals and cancelled checks and encumbrances from the June 20 off-cycle.|
|June 23||Liquidate payroll encumbrances for the Monday, June 20 payroll off-cycle (checks dated June 23, 2005).|
|June 24||Regents establish Payroll Clearing Fund indexes in STARS for FY2006.|
|June 24||Updates to payroll position pool definitions for FY2006 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 1, 2005 (first on-cycle paychecks charged to FY2006). Updates should be entered with an effective date of June 6, 2005.|
|June 28||Process accounting transactions created for true EFT reversals and cancelled checks from the June 27 off-cycle.|
|July 1||FY2006 transactions accepted for processing; beginning of concurrent processing period for final fiscal year 2005 transactions; fiscal year 2006 appropriation transactions loaded in STARS nightly cycle.|
|July 1||SOKI3+ system allows FY2006 transactions beginning at 8:00 A.M.|
|July 1||Process payroll encumbrances for the Friday, July 1 on-cycle paycheck date and encumbrances from the June 29 off-cycle (checks dated July 5); process accounting transactions created for true EFT reversals and cancelled checks from the June 29 off-cycle.|
|July 1||State Treasurer cash management fees for June 2005 will probably not be billed to agencies in time for payment in FY2005 business; agencies must encumber for payment of this obligation if not paid in FY2005.|
|July 2||On-line entry of STARS expenditures against BFY2006 appropriated and limited funds; funds available if FY2006 appropriation transactions processed in the July 1st STARS nightly batch cycle.|
|July 1||Liquidate payroll encumbrances for the July 1 on-cycle paycheck date and June 29 off-cycle.|
|July 5||DA-35 electronic files (prior period funding Payroll adjustments) must be received by 5:00 P.M.|
|July 6||Final FY2005 credit card receipts and credit clearing fund fees and charges processed by the State Treasurer.|
|July 12||State Treasurer accepts final fiscal year 2005 receipt vouchers from agencies until 3:00 P.M.|
|July 12||SOKI3+ receipt documents for FY 2005 must be entered by 3:00 P.M. for final fiscal year 2005 receipt transactions.|
|July 12||Electronic transmission of FY2005 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 by data set from agencies for FY2005 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 2005 entered by 5:00 P.M.|
|July 12||SOKI3+ journal voucher and interfund voucher documents for FY 2005 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 FY2006 receipts.|
|July 13||Final FY 2005 SOKI3+ upload to STARS.|
|July 13||SOKI3+ open for all FY2006 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 18||Final processing of June 2005 transactions expected; end of the concurrent processing period (STARS will be open to Accounts and Reports Staff only).|
|July 19||Begin year end closing cycles and processing for monthly and annual reports and statements, processing of closing and opening entries and preparation of opening and closing transaction reports. (STARS available to Central Accounting Services staff only between closing cycles).|
|July 21||June 2005 monthly STARS reports expected to be mailed to agencies.|
|July 21||Resume processing of July 2005 (FY2006) transactions.|
|July 25||FY2005 closing reports and FY2006 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.|