Sponsored Projects Accounting Year End Reminders

All journal vouchers (JVs) relating to WBS elements/grants and cost share are due in the office of Sponsored Projects Accounting by 4:30 p.m. on the following dates:

• June 11 - For charges posted prior to 6/1/07

• June 29 - For charges posted between 6/1/07 and 6/15/07

• July 6 - For charges posted between 6/16/07 and 6/30/07; and cost share funding journal vouchers

If a budget revision is required in order to process a JV, an acceptable budget revision request must be received by OSPA two weeks prior to the JV deadline.

If the journal voucher has both cost centers and WBS elements/grants, the SPA deadline applies.

Journal vouchers received after the appropriate deadline will not be processed.  Each date is a specific deadline according to the timeframe in which the expense was posted.  Therefore, if a JV for expenses that posted May 3, 2007 is received after the June 11th deadline, but before June 29th, it is considered late and may NOT be processed.

Any JVs not processed by year end will be DELETED in SAP and returned to the applicable department.  If the JV is eligible for new year processing, it will need to be re-entered in the system and submitted for processing after July 6.

In order to “meet” the deadline and expedite the processing of your documents, please make sure all the following guidelines have been met:

• Required budget revisions must be processed by OSPA prior to JV submittal
• Documents will NOT be held in SPA pending budget revisions; they will be returned
• If the JV is parked using the “Save as Complete” button, the user will be notified of budget problems
  
  
• Required original signatures are on the document according to timeliness
• <90 days - Approval signature
• 91-120 days - Principal Investigator and Department Chair/Director
• >120 days - Principal Investigator, Department Chair/Director and Dean
• Any signature authority notices should be submitted to SPA prior to year end or attached to any applicable JVs
  
  
• Required documentation is attached
• Copies of procard edit, DAV, travel voucher, invoices/payment confirmations, etc.
  
  
• Detailed explanation is included on the document or attached as a memo including the answers to the following:
• What was the error?
• When did the error occur?
• How did the error occur?
• What steps have been put in place to prevent this error from occurring again?
• If charging a grant, how does the expense benefit the project?

Due to the large volume of journal vouchers to be processed at year-end, we will be unable to notify you regarding problem documents, such as lack of explanation, documentation, etc.  Instead, the documents missing the required information will be returned.  Please take advantage of the following information on our website for guidance to insure your document will be processed:

• Business procedure manual for JVs:  http://www.uky.edu/Regs/BPM/E-4-1.pdf
• Frequently-asked-questions:  http://www.uky.edu/EVPFA/Controller/spahome/spafaqidiv.html
• Cost transfer policy:  http://www.uky.edu/Regs/BPM/Append2.html

Should you have additional questions, please contact Becky Tharp at rlthar2@email.uky.edu or 257-3662.