With the LMU fiscal year ending on May 31, all Lions are reminded to complete all outstanding tasks before the following deadlines. As with any large organization, the university is bound by Generally Accepted Accounting Principles (GAAP) and cannot permit exceptions or accommodate requests for additional time.
Fiscal Year End Deadlines:
- June 6: petty cash confirmations due to the Controller’s office
- June 13: deferred summer revenue due to the Controller’s office. Please notify the office ASAP of any program completed prior to May 31, so it can be designated FY2023
- June 17:
- All P-card charges made prior to May 31 should be submitted in Workday, reviewed, and approved. For charges made prior to May 31 for activity occurring after May 31, please indicate “FY2024” in the Memo field of the expense report, with further details following (e.g., “FY2024 – Travel Summer 2023 …”). Submit expenses with adequate lead time for your supervisor to review and approve prior to June 17.
- All purchases made through Connect to Supplier Website in Workday (Amazon, Office Depot, CDW) that have been physically received must be reconciled in Workday. Make sure to update the receipt date in Workday with the date the goods were physically received.
- All FY2023 deposits (credit card, cash, check) must be submitted either through Workday or via a paper cashier deposit form to the Cashier’s Office. Please separate deposits for FY2023 and FY2024 into two distinct cashier deposit forms, one for each year.
- All invoices must be submitted in Workday by 4 p.m. PDT. Please indicate “FY2023” in the Memo field for any charge belonging to that year, with further details following (e.g., “FY2023 – May 2023 catering”). Any purchase of physical goods received May 10 – June 7 and greater than $1,000 requires receiving documents along with the invoice. Any invoice submitted after June 17 will reflect FY2024.
For any questions, please contact the LMU Controller’s Office at 310.338.2714 or controllers.office@lmu.edu. The office expresses its appreciation for your understanding and assistance meeting these deadlines, to ensure a successful and timely yearend close.