Drake printers/copiers are leased from and maintained by Laser Resources Inc. (LRI). Our current lease period expires this summer and we are entering into a new agreement with LRI. As part of this lease renewal, we are re-evaluating campus needs and trying to more effectively manage printing costs.

A project team, made up of staff members from ITS, Student Services, Finance, and LRI representatives, meets weekly. In June, LRI staff held initial meetings with representatives across campus to discuss printing, scanning, and copying needs for their departments.

Through information gathered in these interviews, it was determined that Drake would be unable to reduce the number of devices as much as originally anticipated. As a result, Drake will be keeping some of the current fleet of devices in addition to leasing new ones. There will still be a reduction in the number of printers, but in a way that better aligns with departmental needs.

LRI is currently working on a proposal to take back to the project team. Once that proposal has been reviewed, follow up meetings will be held to inform departments of expected printer changes and the replacement timeline for their area.

More specific information on which devices will be in each location, and other changes, will be shared in future OnCampus articles.

The project team has created an initial Frequently Asked Questions (FAQ) page at drake.edu/its/printing. Additional questions and answers will be added as the project progresses and more information becomes available.

—Kris Brewster, ITS

With the University’s fiscal year-end (June 30, 2021) approaching, below are recommended guidelines for efficient and effective year-end processing of purchases.

Accounting for departmental expenses:
In accordance with generally accepted accounting principles, Drake is required to report transactions in the proper fiscal period. For that reason, expenses are recorded in the period when goods are received and/or services are rendered. In short, items expensed to a FY21 budget will need to be received before ‘end of day’ on June 30, 2021. Factors such as budget allocation, invoice receipt, or payment issuance would not have an impact on the application of expenses within a fiscal period.

Exceptions to this general rule apply when a benefit of service or receipt of item extends into multiple fiscal years. In such cases, the following guidelines will be applied.

• Expenses less than $5,000: will be charged against the fiscal year in which the majority of the expense will be incurred. (For example, if a subscription is purchased for $3,000 and covers the period of 7/1/20 through 12/31/21, the expense would be charged to FY21)
• Expenses greater than or equal to $5,000: will be split into the fiscal years according to the percentage of benefit received during each fiscal period. (For example, if a subscription is purchased for $10,000 that covers a period of 7/1/20 through 6/30/22, $5,000 would be charged to FY21 and $5,000 charged to FY22)

The University’s guidelines for year-end purchases are subject to external audit. As you make purchases during this period leading up to and overlapping our fiscal year end, it is important to note when the goods or services were received so they are expensed according to reporting requirements. If the timing of receipt is not clearly noted on the invoice, it would be beneficial to help call the receipt date to accounting’s attention by clearly marking the appropriate fiscal year for the expense, based on the above guidelines, on the pay request.

Please contact Jeni Baugher at x4509 or Jenifer.Baugher@drake.edu with any questions you might have.

Year-end timeline:
In order to facilitate efficient and effective year-end processing, the following timeline is recommended for the fiscal year ending June 30, 2021.

— Jenifer Baugher, Accounting