06-a-006 - Closing of Fiscal Year 2006 and Opening of Fiscal Year 2007 (April 14, 2006) (Supersedes 05-A-018) (Revised by 06-a-009)
|INFORMATIONAL CIRCULAR NO. 06-A-006||(Supersedes 05-A-018)|
|DATE:||April 14, 2006|
|SUBJECT:||Closing of Fiscal Year 2006 and Opening of Fiscal Year 2007|
|A & R CONTACT:||Annette Witt||(785) 296-8083||(firstname.lastname@example.org)|
|Central Accounting Services Section|
|Steve Banning||(785) 296-7059||(email@example.com)|
|Payroll Services Section|
|Lucinda Anstaett||(785) 296-4151||(firstname.lastname@example.org)|
|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 2006 and beginning fiscal year 2007. 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 2006 closing, the cutoff date will be Wednesday, July 12, 2006 to allow two additional processing days. 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 2006 will probably not be billed to agencies in time for payment in FY2006 business; agencies must encumber for payment if this obligation is not paid in FY2006.
- Budget Worksheet data from STARS will be electronically submitted to the Division of the Budget by August 10th for loading into the Budget Management System.
- 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 7AM 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 6PM and 7PM daily.
- FY2006 documents receive a higher processing priority than FY2007 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 2006 and 2007 documents must be batched separately.
- During the concurrent processing period, STARS batch sheets for FY2006 transaction year should have a batch date of "06/30/06", an effective date of "06/30/06" and BFY of 2006.
- During the concurrent processing period, STARS edits FY2007 transactions charged to "expenditure only" type accounts against fund level receipts (both FY2006 and FY2007). FY2006 transactions edit only against FY2006 receipts.
- The available cash in prior fiscal year "receipt and expenditure" type budget units will not be available to fund FY2007 expenditures until FY2006 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 FY2006 and FY2007 documents may be processed in the SOKI3+ system; FY2007 interfund vouchers require a BFY of 2007 for both the receipt and expenditure transactions and FY2006 interfund vouchers process as normal. FY2007 JV documents must use a BFY of 2007 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 2006. Only transactions with a BFY of 2007 will be processed during this period.
- On July 21st, after year-end processing is complete, all fiscal year 2007 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 FY2006 upload will be FY2007 business; any SOKI3+ interfund receipt transactions will need to have BFY 2007 and any SOKI3+ unencumbered interfund expenditure transactions will require an encumbrance number and appropriate transaction code changes.
The scheduled dates for closing FY2006 and beginning FY2007 are as follows:
|April 26||Letter advising agencies to prepare Real Estate Encumbrance Renewals (affected agencies only).|
|May 19||Letter requesting agencies to review outstanding encumbrances.|
|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||Fiscal year 2007 valid funds tape and valid PCA tape sent to State Treasurer.|
|June 15||Preliminary fiscal year 2007 Central Chart of Accounts available to agencies on the Accounts and Reports website at http://www.da.ks.gov/ar/genacct/CoA/.|
|June 16||Informational Circular to all agencies regarding fiscal year rate changes in payroll deductions and contributions.|
|June 23||Regents establish Payroll Clearing Fund indexes in STARS for FY2007.|
|June 26||Accounts and Reports, Payroll Services will insert a new row in the SHARP department budget tables effective dated June 18, 2006 which reflect a budget end date of June 17, 2007 and fiscal year of 2007. Agencies should refrain from entering any rows with an effective-date greater than or equal to June 18, 2006 until after the FY2007 insert has been completed.|
|June 26||Last payroll off-cycle for fiscal year 2006. Review any outstanding checks and process paycheck reversals prior to June 26, 2006. Any checks issued in this off-cycle will be dated June 30, 2006 and charged to fiscal year 2006. Any supplementals or paycheck reversal/adjustment transactions entered after this date will be charged to fiscal year 2007.|
|June 27||Process payroll accounting transactions created for true EFT reversals and cancelled checks and encumbrances from the June 26 off-cycle. Process payroll encumbrances for Friday, June 30 on-cycle pay date (last FY2006 on-cycle).|
|June 28||First payroll off-cycle for FY 2007. Checks will be dated July 3.|
|June 29||Process payroll accounting transactions created for true EFT reversals and cancelled checks from the June 28 off-cycle with check date of July 3.|
|June 30||Liquidate payroll encumbrances for the Monday, June 30 on-cycle paycheck date.|
|July 1||Special STARS cycle for FY2007 appropriation transactions to be processed.|
|July 3||FY2007 transactions accepted for processing; beginning of concurrent processing period for final fiscal year 2006 transactions.|
|July 3||On-line entry of STARS expenditures against BFY2007 appropriated and limited funds.|
|July 3||SOKI3+ system allows FY2007 transactions beginning at 8:00 A.M.|
|July 3||Process payroll encumbrances for the June 28th off-cycle and liquidate encumbrances for the June 28th off cycle with check date of July 3.|
|July 3||State Treasurer cash management fees for June 2006 will probably not be billed to agencies in time for payment in FY2006 business; agencies must encumber for payment of this obligation if not paid in FY2006.|
|July 6||Final FY2006 credit card receipts and credit card clearing fund fees and charges (via Paymentech, American Express and Discover Card) processed by the State Treasurer. All Paymentech, American Express and Discover Card transactions to this date are credited to FY2006. All Paymentech, American Express and Discover Card transactions after this date are credited to FY2007.|
|July 7||DA-35 electronic files (prior period funding Payroll adjustments) must be received by 5:00 P.M.|
|July 7||Updates to payroll position pool definitions for FY2007 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 14, 2006 (first on-cycle paychecks charged to FY2007). Updates should be entered with an effective date of June 19, 2006.|
|July 12||SOKI3+ receipt documents for FY 2006 must be entered by 3:00 P.M. for final fiscal year 2006 receipt transactions.|
|July 12||Electronic transmission of FY2006 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 DA-118 encumbrance batches by data set from agencies for FY2006 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 2006 entered by 5:00 P.M.|
|July 12||SOKI3+ journal voucher and interfund voucher documents for FY 2006 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 7:00 A.M. to 3:30 P.M. (JV, IFV and Order Modules)|
|July 13||SOKI3+ open for FY2007 receipts.|
|July 13||Final FY 2006 SOKI3+ upload to STARS.|
|July 13||SOKI3+ open for all FY2007 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 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 2006 transactions expected; end of the concurrent processing period (STARS will be open to Central Accounting Services 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 2006 monthly STARS reports expected to be mailed to agencies.|
|July 21||Resume processing of July 2006 (FY2007) transactions. STARS re-opens.|
|July 25||FY2006 closing reports and FY2007 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.|