Year End Policy

  1. Year-end reminders listed below pertain to all accounts; restricted, endowment, grants and operating accounts. Only exceptions for capital equipment and supply cut-off dates are Grants and/or Contracts that have an end date through June 30th.
  2. Capital Equipment including computer hardware and software purchases cut-off is the last Friday in April.
  3. Supply purchases cut-off is the 2nd Wednesday in May.
  4. Please keep in mind that the delivery date determines when items are actually charged to your account. Orders for year ending May 31 must be received on campus by May 31st and invoiced by June 6th. Please be cognizant that large expenditures may be pro-rated between fiscal years depending upon the nature of the expense. i.e. maintenance contracts, service agreements, etc.
  5. Checks received by departments for donations, expense reimbursements, etc. should be processed/deposited timely. Checks and deposits should not be held in the department.
  6. Cash, checks, and credit card charges should be brought to the Cashiers no later than 4:00 p.m. on June1. Checks dated May 31st or earlier must be posted in this fiscal year. Thus, for the time period of June 1st through June 7th, please separate your check deposits into those checks dated May 31st or earlier and those dated after May 31st. All cash and credit card charges received during this time period are to be included with the post May 31st check deposit. For Cyber Source processors, all May reports and transactions, including May 31st, must be to the Cashiers by the fifth business day after the year end date of May 31st.
  7. All petty cash funds need to be cleared before May 31.
  8. Budget line-item sub code transfers will not be processed after April 30th. Therefore, please carefully review March reports for any changes. If the account you are using is in a deficit, you will be asked to charge the expense to another account.
  9. Capital equipment records need to be accurate for year-end audit work. If you have removed capital equipment from service please complete the Property Control Form located on the Controller’s Office website: http://www.bradley.edu/controller/policy/ and return it to the Controller’s Office by May 1st.
  10. For persons who are responsible for departmental account budgets, grants, etc., please review budget/accounting reports as quickly as possible:
    • Departmental budgets which show expenses above 83% used on the March budget printouts should be reviewed and any problems resolved by May 5th.
    • Investigate all outstanding purchase orders (especially blankets orders). All encumbrances must be cleared by year-end. Call Purchasing x3227 or x3228 with any questions.
    • There are 5 student payrolls remaining for the fiscal year

If you have any questions regarding the following accounts, please contact the individuals listed:

  • Operating accounts (11-xxxx, 12-xxxx)
    Allyn Kosenko
    (309) 677-3130
  • Restricted accounts (13-xxxx, 26-xxxx, 29-xxxx)
    Ben Egolf
    (309) 677-3129
  • Grant accounts (27-xxxxx, 28-xxxxx)
    Terry Kenny
    (309) 677-3490
  • Endowment accounts (21-25xxxxx)
    Dennis Koch
    (309) 677-3119
  • Accounts Payable/Purchasing questions :
    • Diane Smith
      (309) 677-3229
    • Eileen Benne
      (309) 677-3227