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  5. XV.7 Budget Allocations

XV. End of Year

Guide to Financial Operations

XV.7 Budget Allocations

XV. End of Year
Guide to Financial Operations

State agencies will need to be proactive in working with the Division of Budget as early as possible in the allocation of funds to ensure that:

  • There is sufficient segregation authority available in SFS so all payments can be properly processed by the end of March
  • All necessary segregations are in place for any mandatory payments that are required to be paid during the “blackout period” when SFS is not operational.

Agencies need to do the following prior to fiscal year-end (FYE):

  • Resolve budget exceptions on transactions so the transaction can move forward to completion.
  • Approve transactions through the highest agency level so the transactions workflow to OSC for approval or delete them, if not needed.
  • Find transactions that may be lost in workflow and take the proper action to move the transaction forward in workflow. Determine the root cause of the workflow problems and resolve.

Why is it important to resolve budget exceptions and move transactions through the workflow at FYE?

  • Transactions with budget errors may result in agencies losing funding as transactions with errors cannot roll over into the new fiscal year.
  • Many transactions that are not successfully budget checked and fully approved by OSC by the end of the fiscal year will be denied and deleted causing re-work at the agencies.
  • If needed, SFS/OSC will work with agencies to resolve any outstanding transactions that have budget errors to return funding back to the budget where possible.

Prior to March 31, State agencies also need to ensure that any Budget Journals Pending in Workflow are handled. Any unposted Budget Journal, Budget Transfer and/or InterUnit Budget Transfer will be deleted.

Agency Workflow Administrators can review pending work items via SFS. Navigation: SFS Applications > PeopleTools > Workflow > Monitor Worklist > Review Work Items Via Context. For additional instruction on this topic, visit the job aids published to SFS Coach. SFS Coach is accessible from the SFS home page after logging in with your SFS user ID and password.

Guide to Financial Operations

REV. 09/11/2015