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Year-End Deadlines & Instructions

2022-2023 State Fiscal Year-End Deadlines & Instructions

In preparation for the end of the fiscal year, July 1, 2022 – June 30, 2023 (FY 2023), and to comply with state regulations and provide for timely preparation of financial statements, please see the deadlines for concluding financial activity for the current fiscal year. This schedule takes into consideration all the activities that must be coordinated to reconcile funds for the current fiscal year, prepare the annual financial statements, and carry forward restricted balances to July 1, 2023 – June 30, 2024 (FY 2024).

In planning, note a few important reminders:

  • On a monthly basis, please review your budget entries, purchase order balances, and pre-approvals in Chrome River for those encumbrances that are open or partially paid for expenses and complete the transactions so encumbrances can be removed. 
  • Monitor invoices that are due so payment can be made in a timely fashion and submit receiving reports to accountspayable@louisiana.edu. Goods and services must be received by June 30, 2023, to be paid or accrued with FY 2023 unrestricted funds.
  • Payments for goods and services received after June 30, 2023, will be recorded in FY 2024.
  • All purchases, regardless of source, must be paid or accrued at fiscal year-end if received by June 30, 2023.

Administration and Finance is available to assist with any questions. While every effort is made to adhere to the deadlines provided, dates are subject to change.

Revenues/Receivables

  • Please submit a list of all revenues earned through June 30 that have not been received. These amounts will be set up as accounts receivable by the comptroller. All receivable information must be submitted by July 14 on the Receivables form.
  • If applicable, please inform Angie Smith immediately of any revenue earned from credit card transactions that were processed on or before June 30, 2023, and not deposited with Departmental Cashiers prior to July 1, 2023, to ensure those transactions are recorded in the correct period and to the correct accounts. NOTE:  This involves any department that accepts and processes credit card transactions.
  • If applicable, please inform Angie Smith of any wired funds that were received on or before June 30, 2023, and not deposited with Departmental Cashiers prior to July 1, 2023, to ensure those transactions are recorded in the correct period and to the correct accounts.

Expenditures/Payables

Purchase Orders

  • Any invoices (associated with purchase orders) for goods or services received on or before June 30, must be submitted as soon as goods or services are received for payment to be made. Please submit these invoices by July 13 or earlier. If you have not yet received an invoice for goods or services applicable to FY 2023, please make every effort to contact vendors to send an invoice to Accounts Payable by the July 13 deadline.
  • If a vendor cannot provide you with an invoice before the deadline, an accounts payable entry will be recorded. To facilitate this entry, please complete the Payables form and submit it by July 14.
  • For purchase orders, please cancel or alter any purchase orders where the goods or services will not be received by submitting a Purchase Order Change Request form.

LaCarte Cards

  • Any items/invoices purchased on the LaCarte card and received by June 30, 2023, but that will not be paid by the LaCarte card until after July 5, 2023, should have an accounts payable entry recorded. Please complete the "Payables" form and submit it by July 14.

Interdepartmental Charges

  • All interdepartmental charge forms applicable to June 2023 (or prior) must be submitted to Financial Services by July 14.

Year-End Forms
Receivables (Excel)
Payables (Excel)
Purchase Order Change Request (fillable PDF)
Contract Alteration (fillable PDF)

Chrome River Transactions and LaCarte

  • Travel and Special Meals - Expenses paid with a LaCarte card for travel, special meals, and invited guest visits must be processed in Chrome River by the 15th of the month following the statement date in which the transactions appear on the cardholder's eWallet. All other expenses for travel, special meals, and invited guest visits must be reconciled in Chrome River within 30 days of the completion of the travel/special meals/invited guests visit.
  • LaCarte General Purchases - General purchases paid with a LaCarte card must be fully approved and reconciled by the 15th of each month following the statement date in which the transactions appear in the cardholder's eWallet.
  • If Chrome River Expense Reports are not submitted by July 15, the cardholder’s LaCarte card will be inactivated for noncompliance of LaCarte regulations.

Encumbrances for State-Funds

  • FY 2023 Requisitions: Please monitor the approvals on requisitions that must be processed prior to June 30, 2023, and notify the approvers to process timely. If a purchase order will not be issued for FY 2023, please recall the requisition, and reenter it as FY 2024 with a transaction date of July 1, 2023. View instructions for changing the fiscal year on a requisition.
  • FY 2023 Purchase Orders:  Please monitor the purchase orders for receipt of goods and services and payments. If goods and services will not be received prior to June 30, 2023, the purchase order will be encumbered in FY 2024 unless it is canceled.
  • Travel and Special Meals ending prior to June 30, 2023:  If there is an encumbrance for a pre-approval in Chrome River where the Expense Reports are completed and advance payments are completely reconciled, the balance of the Preapproval will be expired and doing so, will unencumber the unspent balance of the Preapproval.
  • View instructions on how to check your encumbrances.


State-Funded FY 2023 deadlines

Monday, May 1

The last day to submit requisitions funded by Operating Fund (Fund 1000) in Banner is May 1, 2023, except for Dean’s Enhancement accounts for which the last day is June 5. There is no deadline for other funds; however, requisitions processed after May 1, 2023, requiring formal bidding (requiring a 21-day advertising period) or contract negotiation must be awarded, and goods/services received by June 30, 2023, otherwise the award will be issued a purchase order to be paid in FY 2024 unless canceled.

Monday, June 5

Pre-approval requests for travel, special meals, and invited guest’s expenditures that will be completed prior to July 1, 2023 and funded with Operating Funds (Fund 1000) or Dean’s Enhancement Accounts must be completely approved in Chrome River by June 5, 2023. 

The last day to submit requisitions funded by Dean’s Enhancement accounts, except for purchases that require bidding is June 5.

Friday, June 30

The last day to receive goods and services to be funded with FY 2023 funds is June 30. Goods and Services received after June 30, 2023, will be charged to FY 2024 Budget. All Chrome River Expense Reports must be submitted and fully approved in Chrome River for purchases charged to Operating Funds (Fund 1000) and Dean’s Enhancement Funds. All Purchase Order Change Requests submitted to Purchasing to cancel balances of purchase orders funded in FY 2023 will be processed. 

The remaining balance of standing orders funded with Operating Funds (Fund 1000) will be canceled on June 30. If there is a pending invoice to be paid after this date, please notify the Office of Purchasing so an amount can be left for payment to be made. To adjust a balance or change the funding source, please prepare a Purchase Order Change Request (PUR-114) and submit it for approval by following the posted electronic submission guidelines on the Purchasing website.

Wednesday, July 12

Receiving reports with final invoices to be paid with FY 2023 funds must be submitted to Accounts Payable via email at accountspayable@louisiana.edu showing delivery by June 30.

Friday, July 14

All receivable information must be submitted on the Receivables form by July 14.

For invoices not received by Accounts Payable, the Payables form must be submitted to Accounts Payable. LaCarte card charges that have not been processed by the vendor for goods and services received on or before June 30, 2023, must also be included on the Payables form.

All interdepartmental charge forms applicable to June 2023 (or prior) must be submitted to Financial Services

Saturday, July 15

Last day to submit each cardholder’s signed bank statement and LaCarte card report (Firm Paid Items) to Purchasing for statements up to and including July 5.

Sunday, July 30, 2023

Unreconciled charges on LaCarte cards will be allocated to the cardholder through Payroll.

Expenses funded by funds other than the Operating Fund

Pre-approval for travel, special meals, and invited guests as well as purchases funded by General Restricted funds, grant funds, and auxiliary funds will continue to follow normal procedures subject to the availability of funds in the requesting department and charged to the Fiscal Year in which it occurs.

FY 2024 Funding

Requisitions for goods and services funded with FY 2024 Operating Funds (1000 Fund) must be entered in Banner with a July 1, 2023, transaction date and can be submitted anytime.  If the transaction date is entered prior to July 1, the system will assume that funding is for FY 2023.  If the requisition is submitted with incorrect dates, it will be necessary to recall the requisition, revise the transaction date to "7/01/2023." Unfortunately, Banner will require the deletion of all items on the requisition and the necessity to reenter the items. The requisition will require the full approval process.

Requisitions processed after May 1, requiring formal bidding (requiring a 21-day advertising period or approval from the Division of Administration such as professional services) may require the purchase order to be issued for FY 2024 if goods/services cannot be delivered prior to June 30. It is important to notify the Office of Purchasing if funding is not available in FY 2024 and if the bid or award must be canceled.

Contacts for Questions or More Information

Purchasing

Finance

Administrative Services

Administration and Finance staff can also be contacted through Microsoft Teams.