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Kalamazoo College
(c)CMMcGuire-20131114-0761

Fiscal Year End 2016-2017

As the end of the fiscal year approaches, we remind you of important dates that need to be met for the Business Office to prepare for the external financial audit. If you have questions about these dates please contact the Business Office at BusinessOffice@kzoo.edu

 Purchasing & accounting due dates for expenditures made in budget year 2016-17: 

May 19 – last day to submit purchases through Information Services

June 16 - last day to place orders with Staples

July  12 - last day to submit invoices/expenses*, & transfer of expenses between accounts

July 10 - last day to submit credit card account number changes in IntelliLink

 For more information on the above cut-off dates, please see below

May 19 – Purchases through Information Services

All purchase requests must be made to IS by this date, thereby enabling IS sufficient time to place your order, and for your order to be received prior to the end of the fiscal year. Orders received after this date will be processed in June and will apply to your 2017-18 fiscal budget. If you have questions please contact Don.Mack@kzoo.edu.

June 16 – Staples orders

All Staples orders must be made by June 16, providing sufficient time for the Business Office to receive final invoices from Staples for year-end processing.  The Staples account will be inactive from June 17 through June 30th and orders should not be made during this period.

July 12 – Submitting of 16-17 invoices/expenses* to Accounts Payable 

Reimbursement for expenses that occur on or before June 30, 2017 can only be paid if they are received in the Business Office by July 12.  If you are traveling for College business at the end of June and will not return until July, please contact the Business Office before you leave to make arrangements for your expense reimbursement.

2016-17 and 2017-18 Budget Spending

Please note that items purchased and received on campus by June 30 will be recorded in the 2016-17 fiscal year. Purchases not in inventory by June 30 will be paid in July out of the 2017-18 fiscal year budget. Invoices for services or travel that occur during 2017-18 fiscal year, but are due to be prepaid before June 30 will be paid timely but charged to 2017-18 budgets after July 1.  This is reviewed by external auditors and compliance is mandatory. 

*Receipts older than 90 days cannot be reimbursed.

July 12 - Requests to transfer expenses in 16-17

Transfers between accounts must be received by the Business Office no later than July 12.

July 10 – Last day to submit VISA card information

The June credit card statements (5-30-17 through 6-28-17) should be updated with account numbers in IntelliLink by July 10. Please remember that account numbers can be entered in IntelliLink as charges appear. You do not have to wait for the statement end date. Statements that are not updated will be charged to the default account. Also, mistyped account numbers will error out during the posting process and be changed back to the default number. Please review your account numbers for accuracy. Please note that signed VISA card statements and receipts are also due in the Business Office no later than July 10.

Thank you!