Subject:Beginning to prepare for year-end

Posted - April 1, 2005

Another fiscal year end is approaching, marking our second year using FAST for our financial transaction processing. A year-end workgroup has been meeting to identify tasks and deadlines for successfully closing the 04-05 fiscal year. The workgroup plans to identify tasks that need to be completed in preparation for a smooth closing and will be communicating these dates as well as the “traditional” year-end dates beginning in April 2005.

What can you, as a department, do to begin preparation for this year-end?

  • Have you completed reconciliation for all of your official monthly reports?

All reports are now available through February 2005. Select your reports from the GOFAST page. Instructions for these reports are available at the URL. Please remember that you first need to choose fiscal year 2004-2005. Questions? Contact Lisa Corley at or 974-3430.

  • Have all of your requisitions been “approved”?

FAST Navigation-Purchasing – Requisitions – Review Requisition Information – Requisitions

-Use date parameters no earlier than 7/1/04. To minimize retrieval time, restrict your search to a few months at a time. Use the Department number and/or Requester ID to isolate specific areas. Choose a Req status of Approved, Pending or Denied to find ‘active’ requisitions that have not been canceled (X) or closed (C.)

-When the search returns a list of requisitions, click on the Status tab to see if requisitions have an “X” in the Purchase Order column. Questions? Contact Carlos Castillo at or 974-5728.

  • Have all of your dispatched Purchase Orders been “received” in FAST and the associated invoice(s) processed?

-Follow above navigation and instructions and look to ensure that all Requisitioned Purchase Orders have receipts (“X” in “on PO” column of status tab) and vouchers (“X” in “on Voucher” column of status tab.). Questions? For Purchasing, contact Carlos Castillo at or 974-5728. For Accounts Payable, contact Joyce Kiefert at or 974-5683

  • Do you have excess quantities/amounts on a Purchase Order, by line?

-If so, send a change order to your Purchasing Agent for cancellation by Purchase Order line number. Canceling remaining amounts is what closing is all about and will be done after the ‘deadline’ we establish for receipt and vouchering.

-Change requests are on the Fast Financials website under Forms,

the PFS Forms page, and in COMPASS

  • Is your external billing complete?

-Submit write-off requests to the AR Office (Glen Yeater - or 974-4315) no later than April 30. Refer to COMPASS for procedures.

-Complete June 2005 billings to outside customers by close of business on June 29, 2005. Status should be “RDY”.

-Billing corrections must be submitted to the AR Office on the following Word file; send by email to .

  • Have all of your cash deposits been recorded into FAST?

Expenditure and payroll expenditure transfers been processed?

Verify against your official monthly ledgers and follow up with the appropriate department, if needed.

Questions? Contacts:

Cash Deposits – Myrtis More; or 974-8050

Expenditure Transfers – Marc Gordon; or 974-7686

Payroll Expenditure Transfers – J.R. Reed-Payroll; or 974-8062; Marc Gordon-General Accounting; or 974-7686

NOTE: You may already be working on cleaning up some or all of the above items as a result of responding to the communication sent out by Budget and Policy Analysis.