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Start preparing for fiscal-year end

Before the fiscal year ends on June 30, add a few important tasks to your to-do list:

  • We encourage you to start the fiscal year right by confirming the accuracy of your department’s account statements (including payroll expense transfers) and employees' pay records.
  • Do you have faculty members leaving in May? If so, those who are currently on a 9-pay-12 schedule must be paid for the remainder of their contracts in May 2015.
  • 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.
  • Faculty members must submit pay election forms by June 30. If an academic-year contract faculty member does not choose to be paid on a  9-pay-12 contract, he/she will be defaulted into a 9-pay-9 contract. Remember: This cannot be changed until the next academic year. Please direct faculty in your area to the proper forms  to get started:

Important June payroll change

Please note: To comply with State of Colorado rules, CU will now issue June pay for monthly employees on July 1. 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.

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