Financial/Accounting FAQs
Q: When will General Fund allotments “collapse?”
A: All General Fund balances at the close of the fiscal year shall lapse to the surplus account of the
General Fund, with the exception of statutory or budget bill authorized allotments. Beginning July 1, the
Division of Statewide Accounting Services (SAS) may override documents paid from the General Fund
(i.e., Fund 0100) provided combined funds are available in Object Types 01 (Personnel), 03 (Operating),
04 (Grants), and 06 (Capital Outlay). Please contact your Statewide Accountant for an override.
Q: How are new accounting structures established?
A: New accounting structures (Fund, Function) are established on an SAS-14 form and processed through
the Office of the State Budget Director (OSBD).
Q: When will encumbrances “rollover” to the New Year?
A: All 2008 budget fiscal year encumbrances (other than Capital Funds) will roll to Fiscal Year 2009 (FY09)
at close of business on Thursday July 3, 2008. Capital Project encumbrances require no action since
their budget fiscal year remains the same throughout the life of the project.
Q: When is the last day to make payments from FY08?
A: The last day to make any type of payment for FY08 is Thursday, July 10. Payments made after July 10
will pay from FY09 funds. The last day to make payments against encumbering awards will be Thursday,
July 3.
Q: Can FY08 payments post after June 30?
A: FY08 payments may be made via eMARS until close of business on Thursday, July 10. The Budget Fiscal
Year (BFY = 2008); Fiscal Year (FY = 2008) and Period (Period = 13) must be entered on the payment
document.
Q. When is the Hard Close for June (Period 12)?
A: The June Hard Close will be Thursday, July 3.
Q: When are the closing dates for period 13?
A: The Period 13 Soft Close will be Thursday, July 10. The Hard Close will be Thursday, July 17.
Q: Can FY08 receipts post after June 30?
A: FY08 revenue for the General Fund (0100) and Transportation (1100) Funds cannot post to FY08 after
June 30. Receipts for all other funds (done on CR documents) must be in the Treasury no later than the
COB on Wednesday, July 9.
Q: Where can I find a listing of the last dates that documents may be processed?
A: Refer to the Closing Memo FY2008 document posted one the eMARS Web site @
http://finance.ky.gov/internal/eMARS/ for Last Day to Process Old Year documents.
Procurement FAQs
Note: In each FAQ scenario in this section the amount of the payment must not exceed the balance amount of the contract.
Q: How do I liquidate encumbrances that should not roll over to the new fiscal year?
A: For all encumbering awards (PON2/PO/CT/DO), Copy Forward and create a zero dollar PRC. Mark it Final
in the Reference section, Ref Type field on both Commodity and Accounting lines. This PRC must be
processed by COB July 3, 2008.
Q. How do I pay the balance of an award (PON2/PO/CT/DO) in the New Fiscal Year that expired on
6/30/2008 for services/commodities received prior to 6/30/2008?
A. The service dates on the payment document should reflect the actual dates of service, and will occur
within the service dates of the award. Payments against expired award are permitted.
Q. How do I pay against a Master Agreement in the New FY that expired on 6/30/2008 for
services/commodities received prior to 6/30/2008?
A. If you generally make payments directly referencing a Master Agreement (MA) document, the MA will
not be found on URCATS after the expiration date. It will be necessary to create a Delivery Order (DO),
prior to MA expiration if payment is not anticipated until after June 30.
