Important Fiscal Year End Deadlines 2025 for Business and Financial Services

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Stay updated on the critical deadlines for fiscal year end 2025 including cash balances, expenditure/revenue corrections, payroll procedures, facility services work orders, and purchase order schedules. Ensure compliance with the dates to manage financial operations effectively.

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FISCAL YEAR END DEADLINES 2025 Barb Burows Business Services Rebecca Bunn Financial Services These Dates are subject to change! Watch for changes on emails or handouts closer to FYE.

Cash Balances All funds must have positive cash balances by June 2, 2025. To verify your fund balance, pull the General Ledger report in Banner Web Reports using your fund. **Please note that you do not need to check fund balances on general operating funds (funds beginning with 61xxxx). Please contact Rebecca Bunn at x1682 if you have any questions or need additional information.

Expenditure/Revenue Corrections: All requests for journal corrections to be made for FY24 should be received in Financial Services & Payroll on or before 5:00 PM July 7, 2025. The Finance Expenditure Correction form can be found Online at: https://www.msubillings.edu/intranet/forms/index.htm Please contact Rebecca Bunn at x1682 if you have any questions or need additional information.

Payroll: EPAF s: All EPAFS for Employees with a start date before July 1, 2025 must be completed and approved by June 30, 2025. All EPAF s for payroll corrections for FY25 should be submitted to Financial Services & Payroll by July 7, 2025. Timesheets for Pay #15 ending on July 11, 2025: All Timesheets in MyInfomust be submitted by 11 pm on Friday, July 11, 2025. All Timesheets in MyInfomust be approved by 11 pm on Monday, July 14, 2025. All paper timesheets must be turned into Payroll on Monday, July 14, 2025.

Facility Services Work Orders May 15th Deadline for all departments to request non-emergency Facility Services work orders for FY25.

Purchase Order/DPO Schedule Please Note: All dollar amounts shown represent Total Contract Value (TCV), which includes the value of any potential renewals. PURCHASES FOR CURRENT FISCAL YEAR, FY 2025 Purchases exceeding $150,000will need to go through MSU Bozeman, as MSU Billings cannot spend over this amount within its delegated authority. If you have something of this magnitude on the horizon, please contact Business Services immediately. Other Purchases (Above $10,000) need to be turned in to Purchasing according to the following timetable to ensure adequate time for bids to be awarded: Procurements that require Competitive Bidding: RFP Tuesday, April 1st IFB - Tuesday, May 6th Procurements that do not require a competitive process above $10,000: Tuesday, June 3rd Purchases/Orders outside of the guidelines above must be made by: June 13th

Purchasing Cards The last day to use the University Credit Card is June 13th. No purchases can be made with the University Credit Card after June 13th, with exception to expenses for employees in current Business Travel. All Chrome River Expense Reports must be routed through approvals by June 22nd. Accounting techs please advise your card holders and staff/department of this cut-off date.

Change Fund Reconciliation Any Department with approved change funds. Reconciliation of those funds is required by June 30th. If you do not have an approved change fund make sure any campus money is deposited by 11AM on June 30th.

Cash Deposit/Refunds All cash deposits must be receipted in the Business Services, Cashier window by 11 am, Thursday June 30th.

Invoices/BPAs/Travel Reimbursements Vendors: All invoices with BPAs (Banner Payment Authorizations) must be received by Business Services, Accounts Payable, by Noon, July 7th. Please process invoices as soon as possible before June 30th; this will greatly reduce last day workloads and the number of accruals. Please anticipate your needs early and order accordingly; acquire items only in a reasonable quantity that will be consumed in the current fiscal year.

Accruals Accruals are processed for expenditures to outside sources for which the goods or services were ordered in FY24, prior to the June 13thcutoff but have either not been received or have not been paid. There are two Types of Accruals. A Accrual B Accrual

Accruals Continued. If an invoice is not received by June 30th, please use the following guidelines for all departments, regardless of funding source: Purchases/Orders valued at less than $1000 will not be accrued. Business Services will automatically review the PO s and DPO s on file and research if any need to be accrued. Notify Business Services of any orders outstanding. Submit and/or contact Business Services about any outstanding order(s) or payments.

Future Purchases PURCHASES FOR NEXT FISCAL YEAR FY 2026 Purchase Order s/DPO s involving FY 2026 funds may be sent prior to July 1, 2025; however, the Department must indicate the following on the Purchase Request: NOTE: THIS IS A JULY FY2026 ORDER.