M E M O R A N D U M NO. SAD: 02-80
 

TO:	Chief Fiscal Officers Vice Chancellors
FROM:	Robert L. Powell State Controller
SUBJECT:	Cash Close-out Guidelines for Fiscal Year 2001-02

Please observe the following guidelines in closing the 2001-02 fiscal year:

Imprest Cash Accounts: Imprest Cash Accounts should be reimbursed and closed out as of June 28, 2002. The amount for Imprest Cash should be deposited as an allotment deposit for the month of June 2002.  Refer to the Budget Manual, Section 4.

Travel Advances: All permanent and temporary travel advances must be repaid prior to June 27, 2002.  Refer to the Budget Manual, Section 5.

Sale of Surplus Property: G.S. 143-64.05 provides that any receipts, over the amount budgeted, from the sale of surplus property of State departments, institutions and agencies supported by appropriations from the General Fund must be deposited as non-tax revenue to the General Fund. To meet this requirement, agencies must initiate an on-line transfer in the Cash Management Control System (CMCS) to department code 9978, for the amount that actual receipts exceed the amount budgeted. On-line transfers must be received by the Office of the State Controller before 11:00 a.m. on June 28, 2002 and must include "Sale of Surplus Property" on page 2 in the Explanation of Transfer section.

Net Proceeds from Sale, Lease or Rental: G.S. 146-30 provides that the net proceeds from the sale, lease, rental or other disposition of lands by a state agency be deposited with the State Treasurer to be credited to the General Fund. The Wildlife Resources Commission, the proceeds derived from the sale of land or timber from land owned by or under the supervision and control of the Department of Agriculture, the Department of Environment and Natural Resources (State Parks) and the Department of Health and Human Services (John Umstead Hospital) are exempt from this provision.  Any agency not exempt from this provision and having funds derived from the sale, lease, rental or other disposition of lands must initiate an on-line transfer of these funds in the CMCS to department code 9978. On-line transfers must be received by the Office of the State Controller before 11:00 a.m. on June 28, 2002 and include "Net Proceeds from Sale, Lease or Rental" on page 2 in the Explanation of Transfer section.

General Fund Tax and Non-Tax Revenue Funds: Deposits dated June 28, 2002 will be processed by the Office of the State Controller, if such deposits are made and certifications are received by the State Treasurer through the CMCS no later than 2:00 p.m. on June 28, 2002. No revenue refunds or transfers will be processed after 11:00 a.m. on June 28, 2002. No revenue deposits will be processed after 2:00 p.m. on June 28, 2002 for the 2001-02 fiscal year.

General and Special Funds: Certifications of Deposit dated June 28, 2002 must be received by the State Treasurer no later than July 8, 2002. Payments of 2001-02 invoices must be made by June 28, 2002. No invoices should be paid in July using warrants dated June 28th. On-line transfers between codes of an agency may be executed after June 28th, but no later than July 8th. All settlement, or final June, requisitions must be received by the State Controller before 11:00am on July 8, 2002. Therefore, no setback deposits, transfers or requisitions will be processed after July 8, 2002.  Completed budget reports for the month of June must be filed no later than July 15, 2002.

Capital Improvement Funds: All Capital Improvement reports for the month of June must be filed no later than June 24, 2002. Capital Improvement reports should be completed and filed early and separately from reports covering current operations. Capital Improvement requisitions that are funded by bond appropriations must be received by the Office of the State Controller on or before 11:00 a.m. on Thursday, June 13, 2002 to be processed in the 2001-02 fiscal year. Other Capital Improvement requisitions for funds must be received by the Office of the State Controller on or before 11:00 a.m. on June 18, 2002 and Certifications of Deposit must be received by the State Treasurer’s Office by 2:00 p.m. on June 18, 2002 to be processed in the 2001-02 fiscal year.

Capital Improvement Reversions to the General Fund: Agencies should initiate an on-line transfer in the CMCS to department code 9973 for Capital Improvement items that are being returned to the General Fund. The budget code number should be indicated on page 2 in the Explanation of Transfer section. Transfers must be received by the Office of the State Controller before 11:00 a.m. on June 18, 2002.

Electronic Payments:  The last day to enter invoices into NCAS for vendor’s to be paid electronically is June 26, 2002.  Any payments processed on June 27th and/or June 28th will create a check and not an electronic payment.  The electronic payment vendor file will be restored on July 2, 2002.

Please review these guidelines carefully to insure that deadlines are met. Please file budget reports as early as possible, but certainly no later than the above dates. Any inquiries concerning these guidelines should be directed to Melody Tart at (919) 981-5486.

cc:  Julie Mitchel, OSBM
      Carol Newman, Department of the State Treasurer