Financial Administration

Part II - Preaudit Steps

I. Fiscal Year Designation
  1. Invoices for Materials and Services

    1. Telephone

      1. Internal: Code to year that transfer is dated.

      2. External: Code to year of invoice date.

    2. Utility Bills

      Code to year in which the meter reading is made. Disregard fiscal year overlap.

    3. Freight and Express Bills

      1. Code to date of shipment.

      2. If shipment is part of a capital purchase, code to date of purchase.

      3. After the fiscal year cut-off date, code to the new fiscal year.

    4. Rent and Rentals: Code to year of rental due date.

    5. Subscriptions and Memberships

      Code to the fiscal year in which the service begins. When possible, avoid overlap of two charges to same year.

  2. Payments for Services

    Code to the year in which the service is received. If services overlap fiscal years and are encumbered, code to the date of encumbrance. If not encumbered, code to the fiscal year in which they are primarily received.

  3. Travel

    1. Code to year of departure when possible.

    2. After the fiscal year cut-off date, code to the new fiscal year.

  4. Credit Memos

    If possible, code to fiscal year where the purchaes which resulted in the credit memo occurred.

  5. Surplus Sales

    If the sale occurs in the same year of the original purchase, record as a refund of expenditure to the original funding source.

    If the sale occurs in a subsequent year, and the original funding source was GPR, handle in accordance with the coding for prior year vendor refunds as listed in Appendix C. If the original source was Program Revenue, record as revenue (receipts or sales credits) in accordance with Appendix D.

  6. Third Party Sales (Upgrades and Replacements)

    Code as refund of expenditure applied to the total purchase price of new equipment if the transactions occur in the same fiscal year. However, if the budget included the full cost of the new equipment, and the original purchase was with GPR, code as GPR earned in the fiscal year of receipt.

  7. Trade-in Credits

    Code as refund of expenditure by purchase order date of the new purchase, if encumbered. Code as a refund of expenditure by invoice date of new purchase, if not encumbered.

  8. Refunds


  9. In all cases where a refund occurs in the same fiscal year as the original expenditure, the refund (negative expenditure) should be deposited using the original fund and coding. Refer to Appendix C for situations where a refund occurs in a subsequent fiscal year.