EIU Business Office

FY24 Year-End Information

Please review the year-end timeline below for dates that may affect your department/area. These are the final dates that FY24 transactions will be processed through Banner. We encourage you to make requests (such as budget transfers, journal entries, requisitions, summer tuition waivers, etc.) as early as possible.

Additionally, departments should be aware that service departments will be billing for work done through June 30. Departments should contact individual service departments (see the listing of service departments below) for their cutoff dates to accept work to be done by June 30.

Timeline

• Ongoing
• In the next few months, please review open purchase orders and ensure that the orders and amounts are still needed. Invoices should be submitted to Accounts Payable.
 
• Jan. 5
• Requisitions requiring Board of Trustees’ approval (over $250,000) must be completed and approved.
 
• Feb. 9
• Requisitions requiring sealed bids ($100,000 to $249,999) must be completed and approved.
 
• March 8
• Requisitions between $50,000 and $99,999 must be completed and approved.
 
• April 5
• Requisitions under $49,999 should be completed and approved.
 
• May 31
• All invoices, travel, P-Card approvals, payroll redistributions, budget transfers, internal transfers (journal entries), and equipment tagging forms should be provided to the appropriate department through May 31.
 
• June 14
• All equipment orders, including P-Card, must be completed and approved. If P-Card Equipment Forms are required, these should be submitted to Accounting.
 
• June 27
• Stop using P-Card for FY24. All P-Card transactions must have a post date (not the transaction date) on or before June 30 in order to post to FY24.
• All P-Card transactions with a post date on or before June 26 must be approved. Procurement will address remaining transaction dates of on July 1.
• All equipment information needed for purchases after June 14 should be submitted to Accounting.
 
• July 1
• Departments should determine what invoices are still needed from vendors. Any goods or services received by June 30 should be charged to FY24. Any goods or services received July 1 or after should be charged to FY25. If you are missing invoices for goods or services that should be charged to FY24, contact the vendor to obtain copies of those invoices.
 
• July 5 (noon close)
• All FY24 transactions for grants should be submitted to the appropriate office (Payroll for payroll redistributions, Accounts Payable for invoices or Request for Payment forms, and Accounting for internal transfers (journal entries)). These transactions should be processed by those departments by July 10.
 
• July 12 (noon close)
• If applicable to your area, submit inventories for resale.
• For non-grant orgs, any payroll redistributions should be submitted to Payroll.
• For non-grant orgs, all FY24 invoices, request for payment forms, and travel vouchers must be received by Accounts Payable with proper approval. If the payment is for goods or services delivered prior to June 30, it must be charged to FY24. Goods or services received after June 30 should be charged to FY25.
• All internal University transfers (Union invoices, transfers between orgs, etc.) and corrections should be received by the Business Office.
• Service departments should provide their billings through June 30 to the Business Office.
 
• July 19 (noon close)
• The Business Office will roll all open FY24 purchase orders and work orders to FY25.
 
• Aug. 7
• Human Resources to provide compensated absences liabilities.
 
• August 12 (or as soon as the State’s numbers become available)
• Accounting to record amounts provided by other state agencies.
• All reserve transfers and last-minute transfers recorded.

Thank You

Thank you for your cooperation and assistance in helping Eastern report accurate financial information and meeting the State's deadlines for financial reporting.

Service Departments

Service departments (and the department to contact) include:

• Campus Projects (Facilities, Planning and Management)
• Garage and Fleet (FP&M)
• Maintenance Materials/Janitor Supplies (FP&M)
• Personnel Security Checks (Human Resources)
• Postage (Mail Services)
• Telecommunications (ITS)
• The Daily Eastern News (Student Publications)
• Union Bookstore
• Copy Express
• Utilities (FP&M)