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Simple steps to prepare for the end of the fiscal year

Fiscal-year-end deadlines

  •     Monthly pay cycle: June 1-30, 2014 (Pay ID 06/30/14)
  •     Biweekly pay cycle: June 8-21, 2014 (Pay ID 06/21/14)

All expenses paid during this time period are charged 100 percent to fiscal year 2013-14.

June2014Calendar

Suggestions for a seamless year-end payroll

1. Time collection

Process time collection batches early to avoid last-minute problems.
Confirm your backup person is trained and available to assist.
Be accurate and timely to help ensure correct fiscal year charges.

2. Overpayments

Departments receive full credit for overpayments fully recovered by June 30, and prorated credit for overpayments partially recovered by June 30.
Remaining amounts will be credited when repaid.

3.    Hand-drawn Warrant Requests

Submit requests early to avoid last-minute problems.
Requests received with complete information by noon Tuesday, June 24, will be included in the fiscal year 2013-2014 payroll.

4.    Payroll Expense Transfers (PET)

PET for charges incurred on or before Monday, June 30, may be processed through Monday, July 14.
The journal date must be June 30.
Transactions approved by 5 p.m. July 14, will be included in the fiscal year 2013-14 payroll.
For processing questions, contact your campus accounting office. 
If you have technical difficulties when creating a PET, contact Shelley Brown at shelley.brown@cu.edu

5.    Reports to Ensure Pay Accuracy

Use your payroll reports to confirm the accuracy of employee pay.
Salary charges need to be as correct as possible for the fiscal year close.

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