MEMORANDUM. DATE: May 14, 2018 TO: Vice Presidents, Deans, Division Heads, Directors, Department Heads and Administrators

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1 MEMORANDUM DATE: May 14, 2018 TO: Vice Presidents, Deans, Divisin Heads, Directrs, Department Heads and Administratrs FROM: SUBJECT: Madeleine Mulet, CPA Assistant Cntrller - Financial Reprting and General Accunting Year-End Clsing Schedule Fiscal Year Ending May 31, 2018 We are rapidly appraching the year-end clsing f the bks. The infrmatin included in this memrandum will help ensure the clsing prcess is as smth as pssible fr yur areas f respnsibility. Please nte that this memrandum reflects infrmatin fr all departments, hwever, the Schl f Medicine may have earlier deadlines. The Office f Medical Finance has remitted ntificatin f year-end deadline infrmatin fr the Schl f Medicine under a separate memrandum. Please frward this infrmatin t anyne else in yur department wh is invlved in the year-end clse prcess. Included in this package are the fllwing year-end items: I. Pre-Year-End Preparatins II. What we need yu t d III. Deadlines IV. Key Cntacts V. Current Addresses fr Central Offices Please read the enclsed infrmatin carefully. The submissin dates represent the latest date an item/task will be accepted. It is imperative that the deadlines are adhered t in rder t clse the year smthly and accurately. Please d nt hesitate t cntact the Cntrller s Office if yu encunter any prblems, need clarificatin r have any questins. As always, yur cperatin and supprt are greatly appreciated.

2 I. PRE-YEAR-END PREPARATIONS The timeline recrding f expenses is critical t the University s ability t prduce accurate financial reprts and statements. Beginning tday, we ask that yu actively take measures t submit invices fr payment as sn as pssible. Steps t be taken shuld include the fllwing: A. Prcess purchase rder increases/changes t facilitate invice prcessing. B. Cntact yur vendrs and btain utstanding invices s yu can send t Accunts Payable via either f the fllwing: Physical Lcatin Gables One Twer Suite 400G (Lcatr Cde 2943) r umiamiap@miami.edu Fr the hspitals, please use the fllwing uhealthap@miami.edu C. Submitting as many invices t Accunts Payable by Wednesday, June 4th (via Wrkday submissin, r physical cpy) will psitively impact the external audit prcess as well as allws us t generate timely financial reprts fr Senir Leadership. II. WHAT WE NEED YOU TO DO A. Please designate a respnsible individual in yur area t be available thrugh August 31 st t answer questins pertaining t jurnal entries, analysis needed fr the auditrs, and ther infrmatin required fr the year-end clsing. B. Using the Key Cntact listing herein, cntact the applicable central ffice persnnel t address any questins yu may have thrughut the year-end clse prcess. C. Tax Return Preparatins: Infrmatin requests fr the University s varius tax returns will be sent ut within the next cuple f weeks. As applicable, please begin yur preparatin prcess fr cmpleting items requested in prir years and cntact the fllwing persn with any questin yu may have: Diana L. Rdriguez, CPA Assistant Cntrller - Tax DLR115@miami.edu Phne: P a g e

3 Reminder: - In all cases, submissin dates reflect when infrmatin must be received by central ffices - The Schl f Medicine may have earlier deadlines, please refer t mem frm Medical Finance III. DEADLINES A. ACCOUNTS PAYABLE AND ACCRUED EXPENSES: 1. Invices fr PO suppliers: Deadline fr submissin int ld year is Mnday, June 4 th. 2. Expense Reprts: Deadline fr submissin int ld year is Thursday, May 31 st. Please nte the fllwing: D nt cmbine multiple business events (i.e. varius meetings/trips) int ne expense reprt. Charges that ccurred in June and May shuld be input int separate expense reprts. 3. Nnemplyee and student reimbursements Due t system limitatins, deadline fr submissin int ld year is Friday, May 25 th. 4. Supplier Invices fr Check Request deadline fr submissin int ld year is Thursday, May 31 st. 5. Petty Cash Requests deadline fr submissin int ld year is Thursday, May 31 st. 6. Please DO NOT recrd any accrual jurnal entries fr ld perid invices submitted t Accunts Payable after Mnday, June 4 th. Yu shuld cntinue t submit these invices t Accunts Payable, but these accruals will be recrded by the Central Offices as deemed necessary. B. DEPOSITS - ADVANCEMENT: 1. Gift System depsits due Thursday May 31 st : Cash and check dnatins t be recrded int the Gift System must be delivered t yur depsit lcatin by 10:00 AM fr inclusin int fiscal year Last pickup f the NAC drp bx n the third flr will be at 2:00 PM. If there are any special circumstances, please cntact Mary Prats in the Develpment Office at Credit card dnatins must be faxed directly t Develpment Services at by 4:30 PM n Thursday, May 31 st. Yu can encurage yur dnrs t make their credit card dnatins nline. Online dnatins must be submitted nline by 11:59 PM n Thursday, May 31 st. Credit cards are autmatically charged when the nline giving frm is submitted. The link is: 3 P a g e

4 C. JOURNAL ENTRIES / AD HOC BANK TRANSACTIONS / INTEGRATIONS: 1. Jurnal Entries and Ad Hc Bank Transactins: The deadline fr all May jurnal entries and ad hc bank transactins t be submitted frm the field will be Wednesday, June 6 th. Any jurnal entries that d nt meet the Wednesday, June 6 th deadline will be subject t cancellatin. Please ensure all f yur jurnal entries have been submitted and apprved by Cst Center Managers, Prgram Managers, and any ther applicable parties by Wednesday, June 6 th. All jurnals need t make it t the queue f Accunting Managers in the Cntrller s Office by the end f the day n June 6 th t avid cancellatin. 2. Integratin Jurnals: The deadline fr all May integratin jurnals int Wrkday will be Wednesday, June 6 th. It is imprtant t nte that if yur daily integratin file includes bth May and June transactins, the May transactins must be identified/submitted in a separate file fr the transactins t be prperly psted in Wrkday in the crrect perid. After Wednesday, June 6 th, yu will n lnger be able t backdate any integratin jurnals and all integratin jurnals will be psted t June. D. PAYROLL ACCOUNTING ADJUSTMENTS: 1. Payrll accunting adjustment jurnals fr May FY18 must be submitted t ORA by Friday, June 1st. E. PURCHASING: 1. Change Orders: Ensure that all change rders are prcessed in a timely manner. The cut-ff date fr change rders t be prcessed and received in the Purchasing apprval bucket is Mnday, May 21 st. Purchasing cannt guarantee change rders received after Mnday, May 21 st will be prcessed in FY18. 4 P a g e

5 2. Clsing Purchase Orders: Ariba rders will NOT be accepted fr FY19. Please clse the purchase rder befre Wednesday, May 30 th. Prir t clsing a purchase rder, make sure all invices have been paid. Purchase rders, with the exceptin f subcntracts using a spnsred accunt, may nt need t be clsed. A new purchase rder is needed if an invice is received in late May and the purchase rder has already been clsed. 3. Capital Equipment: All capital equipment needs t be inviced, delivered and installed befre Thursday, May 31st. Capital equipment rders fr delivery this fiscal year need t be in Purchasing by Mnday, May 21 st at 1pm. F. TUITION, FEES AND FINANCIAL AID: 1. As in prir years, Summer A revenue and expenses will be recgnized in the ld year (FY 2018) and Summer B/C in the new year (FY 2019). As such, the Office f Financial Planning and Analysis (FP&A) will prcess all tuitin, fees and financial aid accruals and deferrals fr all campuses. If yu have any questins, please cntact FP&A directly at: FinancialPlanning@miami.edu. G. SALARY ACCRUALS FOR SUMMER A TEACHING (Gables / RSMAS nly): 1. Please DO NOT recrd any cmpensatin accruals fr Summer A teaching. The Office f Financial Planning and Analysis (FP&A) will prcess all cmpensatin accruals fr Summer A teaching based n activity pay entered in Wrkday as Summer 1 Teaching fr faculty, staff and students. If yu have any questins, please cntact FP&A directly at: FinancialPlanning@miami.edu. H. TRAVEL CARD AND P CARD EXPENSES (Gables / RSMAS nly): 1. Expenses paid via travel card and p card which are unrecnciled and sitting in the central suspense accunt will be allcated dwn t all budget units in the Gables / RSMAS campuses. FP&A will cntact the Business Officers at each campus fr input n the nature f the transactins and the driver wrktag t be used fr each jurnal entry. Fr additinal infrmatin, please cntact FP&A directly at: FinancialPlanning@miami.edu. 5 P a g e

6 IV. KEY CONTACTS LIST New prgrams/gifts/prjects Medical campus Sergi Sants All thers.. David Salzburg New grants (spnsred nly) Gables & Medical Campus... Rita Castaneda Travel reimbursements Disbursements Accunts Payable (invices, receiving reprts) UMHC/UMH/ABLEH Pat Viteri All thers... Hazel Burgess Purchasing Card (Pcard).. Sean Sadler Purchasing (Purchase Orders) Gables campus... Ignaci Calle Rsenstiel campus. Kenneth Pallais Medical campus... Julia Scardign Payrll Alicia Lpez DHRS Salary Jurnals & HR Wrkday PAA Office f Res. Administratin Gables & Medical.. William Caiaffa Office f Res. Administratin Rsenstiel campus... William Caiaffa Jurnal Entries: Medical campus... Sergi Sants All thers... Martha Archa General Accunting... Piedad Muñz Financial Reprting.... Liza Liber P a g e

7 V. CURRENT ADDRESSES FOR SELECTED CENTRAL OFFICES: CONTROLLER S OFFICE: Gables One Twer, 1320 S. Dixie Highway, Suite 150, Cral Gables, Fl r via interffice mail at: Gables One Twer, Suite 150, Cral Gables, Fl, LOC 2912 PAYROLL: Gables One Twer, 1320 S. Dixie Highway, Suite 760, Cral Gables, Fl r via interffice mail at: Gables One Twer, Suite 760, Cral Gables, Fl, LOC 2976 ACCOUNTS PAYABLE (ALL EXCEPT UMHC, ABLEH AND UMH): Gables One Twer, 1320 S. Dixie Highway, Suite 400, Cral Gables, Fl r via interffice mail at: Gables One Twer, Suite 400, Cral Gables, Fl, LOC 2943 DISBURSEMENTS: Gables One Twer, 1320 S. Dixie Highway, Suite 400, Cral Gables, Fl r via interffice mail at: Gables One Twer, Suite 400, Cral Gables, Fl, LOC 2942 PURCHASING CARD (PCARD): Gables One Twer, 1320 S. Dixie Highway, Suite 1235, Cral Gables, Fl r via interffice mail at: Gables One Twer, Suite 1235, Cral Gables, Fl, LOC 2956 OFFICE OF RESEARCH ADMINISTRATION- GABLES & MEDICAL Gables One Twer, 1320 S. Dixie Highway, Suite 650, Cral Gables, Fl r via interffice mail at: Gables One Twer, Suite 650, Cral Gables, Fl, LOC 2960 OFFICE OF RESEARCH ADMINISTRATION - RSMAS TEAM: 111 Science & Admin Bldg (SLAB), Rsenstiel Campus, LOC VK 7 P a g e