Cut Off
The College’s fiscal year ends on June 30, 2023. As required by regulation, the College must close its accounting records for the fiscal year and prepare for our annual audit. Please note the following deadlines identified to accomplish the complete and accurate closing of the accounting records. We greatly appreciate your assistance.
*Please note that while working remotely the Controller’s office is receiving mail at Shared Services.
|
Transaction |
Deadline |
Questions To |
Documentation |
|
Petty Cash |
Thursday, June 22 |
Student Accounts Controller’s Office Abby O’Connor |
Submit all receipts and/or cash totaling the full amount that the department received for FY23 petty cash. Please make an appointment with Abby O'Connor to verify the total unspent Petty Cash. |
|
Cash Deposit |
Friday, June 30 by noon |
Student Accounts Controller’s Office Abby O’Connor |
Submit all checks and cash received on or before June 30, 2023. |
|
Cash Advances/ Spend Authorizations |
Friday, July 7 |
Accounts Payable Shared Services Joanne Thornton |
Submit reconciling spend authorization through Expense Reports in Workday for funds spent on or before June 30, 2023, and/or remit cash due back to the College (if applicable). |
|
Supplier Invoices |
Friday, July 14 (i) |
Accounts Payable Shared Services Joanne Thornton
OR Kathy Moitoza |
Enter and submit all Supplier Invoices in Workday supporting valid services or products/equipment received by the College on or before June 30, 2023. |
|
Reimbursements/ Expense Reports |
Friday, July 14 |
Accounts Payable Shared Services Joanne Thornton |
Submit summary and supporting documentation for expense reimbursements (including travel) incurred on or before June 30, 2023. |
|
PCards (including travel cards) |
Tuesday, July 18 |
Procurement Shared Services Sarah Pettengill |
Complete PCard verifications (through full approval process) for transactions incurred on or before June 30, 2023. Please ensure the transaction date and document date are in sync with Workday. |
| Accrued Expenses | Tuesday, July 18 (i) |
Accounting Controller’s Office Kathy LeBeau |
Submit description of any service or product (including the vendor and estimated cost) received by the College on or before June 30, 2023, for which the invoice has not yet been received by the College or paid in advance. |
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(i) Note that while it is important and appreciated that we have this information by the deadlines noted for both audit and closing purposes, please continue to provide this information to the Controller's Office if received after this date. |
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Prepaid Expenses
Shared Services reviews all transactions over $5,000 to determine if an expense should be prepaid (charged to FY24). The date the services or products are received determines which fiscal year incurs the expense, not the date the services or products are ordered or paid.
Budget Deferral
The finance office appreciates your efforts to restrain below-line spending during this challenging year. We would be glad to work with you and your Senior Staff leader during the close process to discuss the disposition and potential carryover of a portion of surplus funds in the context of departmental needs, institutional needs, and the overall financial results of the College. Please contact Alex Houn (alexhoun@amherst.edu) if you would like to request a carryover.
Budget Reports (BVA Reports)
It is important that each cost center review the AMH BVA by Cost Center report in Workday carefully so that any necessary adjustments can be made before the fiscal year is officially closed and audited.
Please contact Kathy LeBeau klebeau@amherst.edu with any questions. Thank you for your continued assistance.