LET S GET FI$CAL! From the desk of the Controller. A Newsletter from the Controller s Office

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1 LET S GET FI$CAL! Office hrs: Mon-Thur- 7:30-5:00 Friday- 8:00-Noon Cashier Window hrs: Mon-Thur- 8:00-4:30 Friday- 8:00-11:30 Sign up for Direct Deposit on Warrior Web Last check runs for FY2018: State-June 26 Local-June 28 A Newsletter from the Controller s Office From the desk of the Controller Thank Summer 2018 Year-end is upon us. Please finalize all your receipts, disbursements and account reconciliations during the month of June to result in a timely and accurate year-end close of the financial records. Our external auditors, Moss Adams, performed their interim audit testing in May. Thank you to everybody who provided them information and helped make their week here efficient. The auditors will return in August for final testing. Thanks to all the LCSC staff for your professional efforts and supporting documentation to result in accurate financial records to help assist in the year-end financial statement preparation. LCSC departments have been working collaboratively to meet the General Data Protection Regulation (GDPR) and the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA). All staff have taken the state cyber security training and our IT department is diligently keeping us aware of current cyber-attacks. It is good to see all these endeavors make LCSC compliant and keep our information safe. The Controller s Office wants to provide the information you need to perform your duties. Remember to refer to our website, which contains a wealth of information such as tutorials, forms, and advice. Please give us a call or send us an if you have a question. Enjoy our beautiful sunny weather this summer through all the fun activities available in our valley! Teresa Cole

2 Hi! I m Kalene Eilers. I recently joined the LC Controller s Office. I came from a small town, similar to LC Valley where I attended college at Southern Utah University on a rodeo scholarship. I graduated and was a Middle School Office Manager for 10 years before moving to Lewiston. My family and I have only lived here for five years, but it feels like home! My husband and two boys, ages 8 and 10, keep me very busy! We are an outdoor family and spend all our free time camping, fishing, hunting, 4- wheeling and playing baseball! My husband coaches two teams which means April through July is usually baseball 4-5 nights a week! We love being involved with our kids and Lewiston is a great place to be able to do that! I m excited for our future with LCSC! I joined the LCSC team in the Controller s Office in May. I am looking forward to this fresh new start after working many years in the medical billing field. I was born and raised in the Lewis-Clark Valley where I met my husband, Ken of 37 years now. We have four grown sons, Caleb, Jacob, Andrew, and Seth, three lovely daughter in laws, Chelsey, Darcie, and Mikayla, two grandchildren, Brayden and Peighton, as well as two female Chihuahuas named Ginger and Gracie. In my free time I love to take care of my garden, camp with my family in the summers, and watch good movies. I am very thankful for my new job and love working for such a great college.

3 Fiscal Year Check List O Mark calendar for P-card year-end lock down June O Request any journal entries for FY18 by June 25 O Mark calendars for last state (6/26) & local (6/28) check runs O Return inventory tag information ASAP for year-end processing O Make sure all online RQ s are approved prior to June 29 O Make deposits for FY18 processing by 4:30 p.m. on June 28 O Clean up old encumbrances prior to June 30 O Submit annual MCD forms to Purchasing by June 29 Cash Management Corner FY18 DEPOSIT CUTOFF Please have all FY18 deposits to the Cashier by 4:30 PM on Thursday, June 28 th. The Cashier s window is only open until 11:30 AM on Friday, June 29 th, so the June 28 th deadline ensures that we will have enough time to process your deposit. Deposits received after the Thursday, June 28 th cutoff but before closing on Friday, June 29 th, will be posted in FY18 only if time allows. Please note that deposits containing errors or incomplete information may be delayed if we are unable to obtain the necessary information to post them by closing on Friday, June 29 th. DONATIONS As many of you are aware, the process for depositing donations received by LCSC departments changed effective July 1, The new process has greatly improved the reporting of donations to the Foundation and increased awareness of donations in general. We appreciate everyone s willingness to accommodate the changes and encourage you to contact us with any questions or concerns. RAFFLES As a non-profit organization, we are required by the Idaho Gaming Commission to record all raffle activity conducted by LCSC departments or clubs to ensure that we are in compliance with the State of Idaho Charitable Gaming regulations. If you are planning to have a raffle, please coordinate with Kirstin Jeppsen at least 2 weeks prior to advertising or selling raffle tickets for your event. Please refer to the Raffle Information Sheet located on the Controller s Office website for more information, or contact Kirstin Jeppsen.

4 PETTY CASH & CHANGE FUNDS Effective April 15, 2018, Cash Management started overseeing Change Funds as well as the cash aspect of Petty Cash funds. Accounts Payable will continue to oversee Petty Cash expenses and reimbursements. To establish, change or close an existing Petty Cash or Change Fund, please contact Cash Management. On Change Funds, the revenue limit requiring a deposit within 48 hours has been increased from $200 to $500. All other policies and procedures will remain intact at this time. ADVANCE NOTICE FOR CHECKS MAILED TO LCSC The mail room sends most checks they receive in the mail directly to the Cashier. If your department is expecting a check, please cashier@lcsc.edu with the payer s name and expected check amount. When the check comes in, the cashier will follow-up with the appropriate individual. If you know the check total and what account(s) those funds should be deposited into, you can a deposit slip to cashier@lcsc.edu ahead of time so the deposit can be processed as soon as the check arrives. Letting us know ahead of time ensures prompt processing of your deposits as well as provides us with a contact for any questions. For questions or more information, please contact Lauren Grijalva. DID YOU KNOW? The Controller s Office has two (2) mobile credit card processing devices that can be leased by LCSC departments and clubs. If you are planning an event and would like more information on how you can accept credit cards, please contact Kirstin Jeppsen for more information. REMINDERS The cashier window closes at 4:30 PM daily or 11:30 AM on Fridays during summer hours. If you need to make a deposit, please plan to arrive at least 15 minutes prior to closing to allow time to process your deposit. Deposits that arrive close to or after closing, will be held and processed the following business day. If you arrive after the window is closed but the office is still open, please drop your deposit off inside to be processed the following business day. All payments should be kept secure until a deposit can be made with the cashier. This includes cash, checks or credit card information. Only authorized individuals should have access to payments or payment information. Deposits should be made at least weekly and should be brought to the cashier window in-person (not sent via campus mail). For additional information, please contact Kirstin Jeppsen at Ext. 2350/knjeppsen@lcsc.edu or Lauren Grijalva at Ext. 2351/cashier@lcsc.edu

5 F9 Reports Due to numerous fiscal year end processes, the June FY2018 F9 reports will reflect transactions through June 30. We will be updating your accounts with year-end adjusting entries until July 16. Final FY2018 balances will be available on your June F9 reports July 18. This is the one time of the year that changes can be made to the F9 reporting trees. Contact Bev Hill with any changes you would like by July 16. FY2019 F9 reports will be available after year-end closing on July 30. Online RQ s & ICP s Just a few reminders when inputting online requisitions: Input club account RQ s only after you have the club signatures Use the AP.Type WAP for fund 10 appropriated accounts only Add the associated Dean/Provost/VP if RQ is over $2,000 in the next approval block Add the associated Dean/Provost/VP if the RQ is for the department head. They can t approve a reimbursement to themselves Do not change the due date on either the RQ or ICP. This may delay the processing of your document Only input those RQ s that can be approved by noon on the last day of each month Year-end deadlines for RQ s & ICP s: Enter only those ICP s that can be approved by noon on June 22 nd Enter only those RQ s that can be approved by 10:00 a.m. on June 29 th FY2019 RQ s & ICP s can be input starting Monday, July 2 nd P-Card Points To reflect expenditures in the correct fiscal year and due to Bank of America cutoff dates, do not use your P-Card from June 18 - June 30. As in previous years, June P-Card charges will be charged against FY2018 budgets. Be sure to allow for these charges in your budget planning. Please review and approve your June transactions by 5:00 p.m. July 5. With Tuesday the 4 th being a holiday this is a short review period. The data will be swept by BOA on Thursday, July 6 th. The June F9 reports will reflect May P-Card charges with a date of 06/01/18 and June P-Card charges with a date of 6/30/18. Did you know that the sweep date for the Pcard is updated monthly on the Pcard website? Take a look: No P-Card usage June 18 - June 30 All P-Cards will be suspended during this time

6 Policy Changes Numerous fiscal policy changes are in the works to be announced later this summer, to include P-Card, Clubs, Gift Cards, and Student Travel policies and procedures. An invitation with dates will be sent out to all departments. Watch your s in July for the dates and locations. You don t want to miss this important administrative meeting. Student Accounts Summer School Summer session 2 begins June 11 and fee payment is due that same day. Employees enrolled in session 2 should check their bill on Warrior Web now to confirm their paperwork was received to reflect reduced fees and submit payment no later than June 11. Please contact Student Accounts with any questions you have about your bill or payment. Fall Semester Fall tuition and fees will be posted to student accounts by July 19. Until then students can view an estimated bill on Warrior Web using the Projected Fees by Term link. This link does not project anticipated financial aid funding, nor does it reflect special reduced rates (e.g., employee reduced fees). Fall fee payment deadline is August 24, 2018, the FIFTH day of the semester. Fees can be paid at the Cashier s Window or mailed to the college at any time. Payments can be made on Warrior Web beginning July 19, after charges have been posted. We accept VISA, MasterCard, Discover Card and American Express (2.5% service fee); no service fee to pay with cash, check or electronic check! Federal Regulations Federal financial aid is like a paycheck, it must be earned! Federal funding is typically disbursed early in the semester to pay tuition and buy books; however, students must attend classes and earn the funding each day as the semester progresses. LCSC has to return unearned aid for students who withdraw before earning their aid (or fail all their classes). This usually leaves the student with a balance to repay LCSC. Students must attend 60% of the semester to earn all their aid. Encourage students who consider dropping or withdrawing to meet with Student Accounts staff to understand what financial impacts might occur. The federal requirement to earn aid is also why faculty need to document that the student started their class. Though the deadline to confirm enrollment is day 5, students greatly benefit if enrollment is verified sooner. Submitting enrollment confirmation as soon as possible allows for earlier aid disbursement, which helps students obtain books more quickly and reduces their stress about finances. It also takes the payment pressure off so they can focus on their class work. The first review to release federal aid is August 22! Attendance must be posted no later than NOON on Friday, August 24. Thank you for helping get the word out, especially to adjunct faculty!

7 Residual Funds Students who have completed the financial aid process two weeks before the semester begins are eligible to receive up to $2,500 of residual funds before attending classes to help with books and supplies. Students still have to have their attendance confirmed to retain the funds that are advanced. Students who are not eligible to receive funds before school starts must wait for faculty to confirm that they participated in class to have aid disbursed. Delays in verification delays their ability to purchase books and could cause them to incur late fees. We continue to encourage students to sign up for direct deposit to receive residual funds electronically. It saves the college money, is safer and more secure for students, there is no line and they get residual funds sooner! More than half of our students have requested electronic processing or paper checks. Encourage our students to Go Green and sign up for direct deposit! LCMail Do you take classes? Help us keep you in the loop on fee payment deadlines and residual funds by checking YOUR LCMAIL. We send s when charges are billed, aid is disbursed, residual funds are released, and (oh no!) late fees are posted! When we send an about your bill, be sure to check your account activity on Warrior Web. Our is your reminder to pay your bill timely and confirm that your paperwork has been processed to reduce your fees. As always, refer students who have questions about tuition and registration charges, payment plans, late fees, residual funds, refunds, and the financial consequences of dropping classes or withdrawing to Student Accounts in the Controller s Office! We are here to help them with their financial issues! WebNow With the year-end deadlines for the last check runs for FY18 approaching, be sure to log into WebNow and approve invoices promptly. Please notify us if you re going to be on vacation the last week of June. Have a Safe & Fun Summer!

8 Important Summer Dates to Remember: June 11 Summer session 2 fee payment deadline June 15 Last day to submit FY2018 ID s June P-Cards suspended June 22 Last day to submit FY2018 travel claims June 22 Last day to input ICP s June 25 Last day for journal entries requests from depts June 26 Last FY2018 State account check run June 27 Last day for new account setup & component additions June 28 Last FY2018 Local account check run June 28 FY18 deposits accepted until 4:30 p.m. June 29 Cashier window closes at 11:30 a.m. no additional deposits posted in FY18 July 1 July 2 July 4 July 6 July 9 July 16 July 17 July 17 July 18 July 19 July 30 Fiscal Year 2019 begins *Happy New Year* FY19 requisitions and ICP s can be input Campus Closed June P-Card approval deadline June P-Card data uploaded into Colleague FY18 activity closes at noon Cashier window closes at 2:00 p.m. for year-end close FY2018 Year End Close * Colleague unavailable between 3-4pm Final FY2018 F9 reports available Fall student charges can be viewed on Warrior Web FY2019 F9 reports available August 10 First Financial Aid posting for Fall 2018 August 16 Residual funds in student bank accounts (submitted Intent to Attend) August 17 Residual paper checks released August 20 Fall Semester begins August 20 Enrollment confirmation begins August 24 Last day to pay Fall semester fees without late fees August 27 External financial auditors, Moss Adams LLC, arrive. Be prepared to present P-Card documentation as needed.