Five tasks you need to complete before fiscal year end; new deadlines to review
Be sure you’re ready for the close of Fiscal Year 2017 by reviewing this list of important tasks and reminders.
Five steps for year-end payroll:
1. Upload My Leave and CU Time files
- Upload time collection files early to avoid last-minute problems.
- Confirm a backup staff member is trained and available to assist you.
- Be accurate and timely to ensure correct fiscal year charges.
2. Correct overpayments
If you overpay an employee during one fiscal year and the employee pays back the money in another, Employee Services can only give your department a prorated, partial credit for the funds recovered through the fiscal year in which the money was paid.
3. Request handdrawn warrants
- Submit requests early to avoid last-minute problems.
- Requests received with complete information by noon Wednesday, June 28 will be included in the fiscal year 2016-2017 payroll.
4. Run reports to ensure accurate pay
- Use your payroll reports to confirm payments are accurate.
- Correct salary charges as soon as possible to ensure an accurate fiscal year close.
5. Run leave sweeps query and notify employees
- Run the new leave sweeps query, which identifies employees who have exceeded leave accrual maximums.
- Encourage affected employees to use or donate their time.
Fiscal Year 2016-2017: Important Dates and Deadlines
Monthly Pay Cycle
Pay period: June 1-30, 2017
Pay ID 06/30/17, charged 100 percent to fiscal year 2016-17
Time collection closes: 5 p.m. Wednesday, June 21
Run payroll register report: Monday, June 26
Check stops and advice pulls due: 10 a.m. Wednesday, June 28
Pay date: Monday, July 3
Biweekly Pay Cycle 1
Pay period: May 21-June 3, 2017
Pay ID 06/03/17, charged 100 percent to fiscal year 2016-17
Time collection closes: 5 p.m. Thursday, June 8
Run payroll register report: Monday, June 12
Check stops and advice pulls due: 10 a.m. Wednesday, June 14
Pay date: Friday, June 16
Biweekly Pay Cycle 2
Pay period: June 4-17, 2017
Pay ID 06/17/17, charged 100 percent to fiscal year 2016-17
Time collection closes: 5 p.m. Friday, June 23
Run payroll register report: Tuesday, June 27
Check stops and advice pulls due: 10 a.m. Thursday, June 29
Pay date: Friday, June 30
Other Deadlines and Information
Noon Wednesday, June 28
- Time collection deadline for final off-cycle payroll for fiscal year 2016-17
- Termination for cause handdrawn warrant request deadline. Please note: Handdrawn check requests received after this deadline cannot be guaranteed to be included in fiscal year 2016-17 accounting
Friday, June 30
- Pay will be issued for employees paid biweekly on June 30.
- This the last day employees can schedule or donate vacation or sick leave balances that exceed CU’s allowed maximum. We will run sweeps after we confirm July 2017 payroll.
- University staff employees will maintain all sick leave as there is no maximum for this group.
- Classified staff who have accrued sick time above the maximum allowance will have those excess hours converted to vacation hours, using a 5-to-1 ratio (e.g., 5 sick hours = 1 vacation hour).
Monday, July 3
CU will issue June pay for monthly employees on July 3. Please remind employees to review their financial obligations; the university is not responsible for overdraft charges or fees incurred by employees as a result of this change in pay date.
Tuesday, July 4
Employee Services will be closed for Independence Day.
Payroll calendar updates
- Deadlines have been extended for the OC062217 off-cycle payroll. The upload deadline has been moved from June 27 to June 28. The payroll will process at 6 a.m. on June 29 to assure it confirms in time to pay on June 30.
- The OC070217 payroll has been removed from the calendar because no off-cycle payroll for the new fiscal year will process during the week of July 3. This is due to the biweekly payroll running at the end of the week with a PPE date of July 1 (the earliest date in the new fiscal year). Running an off-cycle payroll with a later date would cause the biweekly payroll to error.
To view the updated payroll calendar, click here.