2024 Year-End Deadlines and Processes

MAY

Orders using FY 2024 funding and that require a bid or Request for Proposal (RFP) must be submitted to Purchasing to ensure completion by the end of FY 2024.

FY 2024-funded orders needing to be in place Sept. 1, 2024 and requiring a bid or RFP must be submitted to Purchasing for processing.

JULY

Renewal orders based on current FY 2024 orders must be submitted to Purchasing by July 05, 2024 to ensure processing and completion by the end of the year. (Examples: space and equipment rentals/leases, maintenance and service contracts, copiers and multiyear bid awards for commodities.)

Encumbrances on educational and general (E&G) funds (funds that start with a 10) only roll one year. The encumbrance should be expended by the second year; otherwise, the encumbrances will be systematically closed July 26, 2024.

E&G encumbrances that rolled from FY 2023 to FY 2024 will not roll to FY 2025. If there is a legitimate business need to reestablish or keep an encumbrance open, contact Purchasing.

AUGUST

Electronic Personnel Action Forms (EPAFs) must be applied by August 16 to run on MN9 payroll.

Employee one-time payments (EOPs) for monthly employees must be fully approved by Aug. 16 for payment to post against FY24 funds.

Non-catalog TechBuy orders using FY 2024 funding and not requiring bids must be submitted to Purchasing by Aug. 20, 2024 to ensure completion by the end of the year.

Budget will release payroll encumbrances after the semimonthly 16 payroll has posted.

Aug. 26, 2024 (Monday)

All Direct Pay Forms in TechBuy using FY2024 funding must be submitted to Payment Services approval que by Aug. 26, 2024 to ensure completion by the end of the year.

Purchasing card (PCard) purchases for FY 2024 should be completed Aug. 28, 2024 to ensure posting by Aug. 31, 2024.

Aug. 30, 2024 (Friday)

• Travel pre-approvals to be applied against FY 2024 funds must be entered by 4:30 p.m. (MST). Please note: If travel will take place in FY2025 the system will automatically encumber the funds from FY2025 budget.
• FY 2024 travel expense reports and required documentation must be submitted and in the Travel Office approval que in Chrome River.

PO/encumbrance change requests to increases or release prior year encumbrances are due to Purchasing.

Punch-out and catalog TechBuy orders using FY 2024 funding must be submitted to the vendor by Aug. 31, 2024 to ensure completion by year end.

All purchase orders for FY 2024 must be completed, approved, and posted to Banner by close of business (5 p.m. MST). Any orders not completed by Aug. 31, 2024 will be posted in September against FY 2025 funding.

Labor redistributions (LRDs) must be submitted by Aug. 31 to post against FY24 funds.

Inventory Day: Consumable Supplies and goods for resale inventories must be counted. A count for all inventories in excess of $15,000 must be submitted to Accounting Services at accountingelp@ttuhsc.edu on a Consumable Supplies and Goods for Resale Inventory form available at: http://elpaso.ttuhsc.edu/fiscal/businessaffairs/accounting/Forms.aspx no later than three business days after August 31, 2024.

SEPTEMBER

All FY 2025 orders must have an accounting date of Sept. 1, 2024 or later.

No TechBuy punch-out orders using FY 2025 funding may be entered or submitted before this day.

EOPS for semimonthly employees must be fully approved by Sept. 1 for payment to post against FY24 funds.

Citi PCard statement close date is Sept. 3, 2024. Charges on the Sept. 3, 2024 statement will be applied to FY 24.

FY 2024 Non-Contract Revenue Accrual Invoice Forms (INs) are due to Accounting Services. The IN is available online Budget Revisions indicating funding transfers and other FOAP adjustments must be entered into the Budget Revision System so that related funding transfers can be processed prior to close: http://elpaso.ttuhsc.edu/fiscal/businessaffairs/accounting/_documents/collateral/Invoice%20Form%20IN.xlsx

FY 2024 consumable supplies/goods for resale inventory counts as of Aug. 31, 2024 are due to Accounting Services. The Inventory Form is available online: http://elpaso.ttuhsc.edu/fiscal/businessaffairs/accounting/_documents/collateral/Inventory%20Form%20for%20Consumable%20SuppliesGoods%20for%20Resale.pdf

FY 2024 holding accounts and unidentified wire claims are due to Accounting Services. The Holding Account Report is available online: http://elpaso.ttuhsc.edu/fiscal/businessaffairs/accounting/reports.aspx

Questions regarding fund balances for FY 2024 transaction details are due to Accounting Services.

FY 2024 cash receipts must be submitted through the Cash Receipts System and approved by intermediate approvers.

Sept. 5, 2024 (Thursday)

• FY 2024 invoices and receiving reports are due to Payment Services.

FY 2024 contract revenue accruals must be entered into the Contracting/Accounts Receivable System.

Other expense accruals and related supporting documentation must be received by Accounting Services at accountingelp@ttuhsc.edu on expense accrual form.

FY 2024 FiTS transactions (cost transfers (CTs), interdepartmental vouchers (IVs), internal purchase funding transfers (IPFTs), and revenue transfers (RTs)) must be entered and approved by department approvers.

PCard expense reports should be submitted throughout August as purchases are made. All expense reports allocations must be in the Pcard approval que by noon (MST).

The August 2024 accounting period (12 FY 2024) in Banner will close at the end of the day Sept. 10, 2024. An accrual period for FY 2024 will remain open for a period of time after that date. Any entries made during the accrual period will require approval from Accounting Services.

The FY 2024 roll to FY 2025 will take place Sept. 11, 2024. All financial systems will be closed to transaction processing from Tuesday evening through Thursday morning.

Budget will roll positions to FY 2025 Approved Status and encumber salaries for FY 2025. Cognos will be available and will reflect August Balances.

Questions regarding fund balances for FY 2024 after August close are due. FY 2024 funding deficits covered from backup FOPs (Funding Organization Program code) unless alternate FOP information is received by Sept. 12, 2024.

FY 2024 funding deficits will be covered from backup FOPs (Fund Organization Program code) Sept. 13, 2024.