Fiscal Year End Reminders
As we approach the end of the 2024-2025 fiscal year (FY25), please take a few minutes to review the information and important dates below. Please remember, all budget managers are stewards of our limited financial resources and share the responsibility for fiscal management.
Department Expense review:
Please review the expenses posted to your department budget to ensure accuracy. You can access your department budget through the Nest or the links found on the Business Office webpage but remember, in order to access the budget reports, you must be on campus or connected to the VPN. If you find errors, please complete an inter-departmental transfer form (found on the Business Office webpage) and submit the completed form to the BusinessOffice@smumn.edu email.
Important Dates and Deadlines:
- May 31, 2025 = Fiscal Year End
- Monday, May 19, 2025 = Last day to request FY25 purchase orders
- May 31, 2025 = Last day for salaried employees to use FY25 vacation time
- Monday, June 2, 2025 = Deadline to submit FY25 extra payroll requests (advising, independent studies, etc.)
- Wednesday, June 18, 2025
- Deadline to submit expense reports / credit card charges
- Deadline to submit Out-of-Pocket reimbursement requests for FY25
- Deadline to submit invoices to be paid from FY25
Salaried Employees’ Vacation
Vacation for salaried employees must be used by May 31. Any remaining vacation not used or requested for use prior May 31 will be forfeited. The new vacation hours will be issued effective June 1 and will appear in your portal as soon as possible after May 31. Requests for use of vacation time for periods after June 1 may be submitted based on the knowledge that the new vacation will be added. Most hourly employees’ vacation is renewed on their anniversary date.
Thank you for your attention to this important information about the year ending May 31, 2025 and for being fiscally responsible.
Julie Alford, Interim Controller
David Ansell, Assistant Vice President for Finance
