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Finance

Fiscal Year End Deadlines & Procedures

Fiscal Year 2023-24 (FY24) ends June 30, 2024
Fiscal Year 2024-25 (FY25) starts July 1, 2024

A fiscal year is the time period that is considered one “reporting” year for a business entity. Many businesses and grants use different fiscal years, such as a grant that begins in April and ends at the end of March.

麻豆社 Fox University’s fiscal year runs from July 1 to June 30. Shorthand is often used to refer to a particular fiscal year. For example, all of these refer to Fiscal Year 2023-24:

Deposits

The last bank deposit for the fiscal year will be Friday, June 28, 2024.  Please submit your deposit to finance by noon on the 28th for your cash/checks to be included in that deposit.

The last day for deposits to be recorded by finance and affect the FY24 budget will be July 8, 2024.  Any deposits received after July 8, 2024 will be recorded in the FY25 year.

Petty Cash

Please contact Patrick Culligan at pculligan@georgefox.edu or 503-554-2163 if you have questions about the petty cash due dates below.

If Your Department Is Closed for the Summer

Please submit all petty cash reconciliations to Finance by Friday, May 17, 2024. Remember to submit all receipts, cash, and reconciliation reports before this deadline.

If Your Department Is Operating During the Summer

Please submit all petty cash reconciliations to Finance by Friday, June 28, 2024. Remember to submit all receipts, cash, and reconciliation reports before this deadline.

Procurement/Vendor Payments

Goods and/or services must be received on or before June 30, 2024, to be included in FY24. The purchase order (PO) should be “received” in PeopleSoft and the invoice submitted to Accounts Payable as soon as possible once the goods and/or services are complete.

The final cut-off date to submit a completed PO and invoice for payment in FY24 to Accounts Payable is Monday, July 8, 2024.

If you have concerns about June purchases, please contact Frank Charles at fcharles@georgefox.edu or 503-554-2006.

Non-Employee Check Requests  

Non-employee check requests must be submitted through before they can be paid through Accounts Payable. Please have all forms submitted in Timekeeping by Friday, June 14, 2024, to allow for processing and routing to Accounts Payable on or before Monday, July 8, 2024. Non-employee check requests must be received in Finance on or before July 8, 2024, to be included in FY24. Any non-employee check requests received after July 8, 2024, will be included in FY25.

Non-employee expense reimbursements for expenses incurred on or before June 30, 2024, must be submitted with all authorizations and received by Finance on or before Monday, July 8, 2024, to be included in FY24.

If you have questions on requisitions or payments, please contact Frank Charles at fcharles@georgefox.edu or 503-554-2006, or Patrick Culligan at pculligan@georgefox.edu or 503-554-2163.

University Visa Cards

All transactions posted to your credit card by U.S. Bank after the bank’s cut-off date of Tuesday, June 25, 2024, will be listed on your July 25, 2024, credit card statement and will be recorded in the next fiscal year (FY25).

Concur Reports

Concur reports must be submitted for approval by Monday, July 8, 2024, to allow approval and processing time.

All Concur approvers must complete all approvals on or before Friday, July 12, 2024. Concur reports received by Finance after July 12 will be included in FY25.

If you have questions or concerns, please contact Kathi Becker at kbecker@georgefox.edu or 503-554-2166.

Error Correction Forms and Interdepartmental Charges (IDCs)

Please have any Error Correction Forms or IDCs for FY24 to Finance as soon as possible, but no later than Monday, July 8, 2024.

If you have questions or concerns, please contact Bruce Owen at bowen@georgefox.edu or 503-554-2169.
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