Finance and Administration

TO: Department Heads, Budget Supervisors, and Administrative Staff

FROM: Tijana Stefanovic, Controller

SUBJECT: FISCAL YEAR 2024 (FY24) CLOSING DATES

DATE: May 1, 2024

Listed below are important dates and information to assist with year-end transactions and final adjustments to your FY24 budgets. Please circulate this memo to staff in your office responsible for processing invoices, deposits, payroll, journal entries, or other budget related activity.

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Below Process Must be submitted by:

• 1 Student Timesheet Wednesday, May 29th, 12 p.m.
• 1 Staff Biweekly Timesheet Friday, May 24th, 12 p.m.
• 2 Cash Receipts (includes credit card receipts) Friday, May 31st, 10 a.m.
• 2 Petty Cash Reimbursement Requests Monday, June 3rd, 5 p.m.
• 3 Credit Card Statement Packet to Allocator Monday, June 3rd, 5 p.m.
• 3 Credit Card Allocations submitted in GRAM Thursday, June 6th, 5 p.m.
• 3 Credit Card Approvals completed in GRAM Tuesday, June 11th, 5 p.m.
• 4 Payment Requests & E-Market Activity Monday, June 3rd, 5 p.m.
• 5 Journal Entries Monday, June 10th, 5 p.m.
• n/a Accounts Payable/Credit Card Adjustments Monday, June 10th, 5 p.m.
• 6 Grant Activity Date listed above for each process

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Below Expense Type Deadline

• 3 Credit Card Purchases Friday, May 24th
• n/a One card Purchases Friday, May 31st
• 4 Accounts Payable – Tangible Goods Goods physically received by Friday, May 31st
• 4 Accounts Payable – Services Services provided on/before Friday, May 31st

Below provides a more detailed explanation of the processes/expenses listed above:

1. Payroll

The last staff payroll for FY24 covers hours worked through Thursday, May 23, 2024, and the last student payroll for FY24 covers hours worked through Tuesday, May 28, 2024. If you have questions regarding payroll, please contact Christine Eigenbrot at extension 5252 or email payroll@brynmawr.edu.

2. Cash Receipts/Petty Cash Reimbursement Requests

Deposits (including credit card receipts) for credit to your FY24 budget need to be received in the Controller’s Office by 10 a.m. on May 31, 2024. Petty Cash Reimbursement requests for receipts dated 5/31 or before need to be received in the Controller’s Office by 5 p.m. on June 3, 2024. If you have questions regarding cash receipts or petty cash reimbursements, please contact Shawn Jackson at extension 5251 or email scjackson@brynmawr.edu.

3. Credit Card (CC) Process

All credit card allocations need to be submitted in GRAM by June 6, 2024, at 5 p.m. As was done in the past, transactions not submitted by the allocation deadline will be charged in FY24 to the cardholder’s default department and project (account 51899 misc. expense). The Expense Report process will still need to be completed in GRAM in June. If pre-payment was made for an expense that belongs in a future fiscal year, allocate to 1-10702-00000-99999. Follow the steps on the Glossary and Terminology page to process prepaid expenses. If you have questions regarding the CC process, please contact Patricia Szybowski at extension 5262 or email bmc_creditcard@brynmawr.edu.

4. Payment Requests & E-Market Activity

If the services were performed or the goods were received on or before May 31, 2024, the expense must be posted to FY24. All approved Payment Requests, E-Market quantity receipts for goods, and E-Market invoices/credit memos to be charged to FY24 budgets are due in the Controller’s office by 5 p.m. on June 3, 2024.

a. Payment Requests Please write “FY2024” clearly on the top of all Payment Request (Non E-Market) forms that should be charged to FY24 submitted between Tuesday, 5/14/2024 and Monday, 6/3/2024.

b. E-Market PO quantity receipts/invoices For invoices from Purchase Orders created in E-Market, the Receipt Date entered when creating the Quantity Receipt will determine which fiscal year the expense will be charged, if the Receipt Date is 5/31/2024 or earlier it will be charged to FY24 and if it is 6/1/2024 or later it will be charged to FY25. Please only record a 5/31/2024 receipt date for goods actually received on 5/31/2024.

c. E-Market Non-PO invoices/credit memos All non-PO invoices/credit memos where the service was performed on or before 5/31/2024 must be entered and approved in E-Market by 5 p.m. on 6/3/2024.

To indicate that your invoice/credit memo should be charged against your FY24 budget, please perform the steps in the Fiscal Year End Guide located on the Finance and Administration webpage under Purchases and Payments, Invoice Payments.

You are required to perform these steps for all non-PO invoices/credit memos entered in E-Market between Tuesday, 5/14/2024 and Monday, 6/3/2024.

If you have questions regarding payment requests, please contact Lisa Le at extension 5258 or email accountspayable@brynmawr.edu. If you have questions regarding BMC E-Market, please contact Donna MacIntosh at extension 5268 or email bmcemarket@brynmawr.edu.

5. Journal Entries

Any journal entries for FY24 created after May 31, 2024, must have a post date of 5/31/2024. The last day to post journal entries for FY24 is June 10, 2024. If you have questions regarding journal entries, please contact Tijana Stefanovic at extension 5632 or email journalentries@brynmawr.edu.

6. Grant Activity

Although government research awards often do not coincide with the College’s fiscal year, all transfers/allocations between FY24 operating budgets and government awards need to be completed by June 10, 2024, at 5 p.m. If you have questions regarding any grant activity, please contact Shawn Jackson at extension 5251 or email scjackson@brynmawr.edu.