WEEKLY:

Vendor payments are processed every Thursday (unless otherwise notified). 

(Note: in order to maximize the College’s cash flow, vendor payments are issued based on the terms of the invoice).

 Employee Reimbursements are also processed every Thursday (unless otherwise notified). These will be directly deposited into the employee's bank account. A direct deposit notificatiion will be sent to the employee once the reimbursement is processed. 

All reimbursement vendor payment requests must be in the Controller’s Office by end of the day on the Friday before the check run in order for the request to be processed in that week.

YEAR-END:

Items Purchased:

Items physically received prior to July 1 will be charged to the current year’s budget. 

Items physically received July 1 or after will be charged to next year’s budget.

Services:

If a third party performs services for the College prior to July 1, the cost of those services will be charged to the current year’s budget. 

If a third party performs services for the College on July 1 or after, the cost of those services will be charged to next year’s budget. 

Dates appearing on the associated invoice will be used to determine when delivery of items or performance of services has occurred. The above holds true regardless of the date of the purchase or when the respective invoice is received and paid.

All departments that have received any goods or services prior to July 1 that have not recived an invoice must complete the Expense Capture Form.

See the 2013 Year End Closing memo for a complete description of all processing due dates.

Download the FY13 Expense Capture Form.