With the end of another fiscal year upon us, please take note of the dates below to ensure accurate information is recorded by the Business Office for the current fiscal year, which ends on Wednesday, May 31.
Carefully review your departmental budgets and current year expenditures and be certain to submit any interdepartmental transfers prior to 4 p.m. on Friday, May 26.
If there are reallocations that unit managers wish to make in their area budgets heading into the new fiscal year, they should submit those no later than Monday, May 8, to David Ansell at firstname.lastname@example.org. (As a reminder, “reallocations” do not change the bottom line of the unit.)
Important dates to remember
- Friday, May 12 — Last day purchase orders will be issued for current fiscal year.
- Friday, June 2, at 10 a.m. — Deadline for extra payroll items (advising, independent studies, etc.) for the year ending May 31, 2023.
- Wednesday, June 14 — All reimbursements for direct expenses must be submitted and approved in Chrome River for year ending May 31, 2023.
- Wednesday, June 14 — All invoices must be submitted and approved for payment in Chrome River by this date. All invoices submitted after June 14 will be charged against the next fiscal year, fiscal year 2023-24.
Salaried Employees’ Vacation
Vacation for salaried employees must be used by the end of their contracts, May 31. All requests for vacation to be used by this date must be submitted through the payroll portal by Friday, May 19. Any remaining vacation not used or requested for use prior May 31 will be forfeited. The new vacation will be issued effective June 1. 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.
U.S. Bank/Chrome River expenses
All charges incurred and posted on your May 2023 Chrome River expense report will be charged against the current 2022-23 fiscal year. All charges incurred and/or processed after the May report will automatically be charged against the new 2023-24 fiscal year. Please note: U.S. Bank charges are often delayed in posting by vendors. If you make purchases in late May, these charges may post to your June statement, thus being charged to the new year. If expense reports are not submitted timely, your card may be suspended.
Annual policies review
We ask all employees of the university to review the university’s business policies on an annual basis. These policies are located on the Business Office page which can be accessed from smumn.edu under the Students, Faculty & Staff heading in the upper left. Once in the policy, use “CTRL F” to search for specific topics.
If you have any questions regarding the above deadlines or activities, please contact Alex Ludford at email@example.com or Ext. 6692.
Thank you for being good stewards of Saint Mary’s University of Minnesota resources!
by Kelly Boice and David Ansell