The Office of the Provost will host a retirement open house for Nancy Geiger, student information analyst, on Thursday, June 20 from 2–4 p.m. in Levitt Hall. Nancy is retiring after 35 years of service to the university. Please join us for a celebration of her service and to wish her well.

Jenny Tran-Johnson, Office of the Registrar

Coping with the loss of a close friend or family member may be one of the hardest challenges that many of us face. Everyone reacts differently to death and employs personal coping mechanisms for grief.

Employee & Family Resources (EFR) offer a variety of Employee Assistance Program (EAP) benefits to full-time Drake employees and their family members, including phone-based support, an online chat feature (http://www.efr.org/chat/), and in-person counseling. You may call EFR 24/7 at 1-800-327-4692 or visit them at www.efr.org/myeap.

Drake also provides time off without loss of pay to attend a funeral, make funeral arrangements, or assist you in the grieving process for a member of your immediate family.  A copy of the Bereavement Leave Policy can be found on the Employee Home page of myDrake under the Human Resources icon at the top of the page.

With the University’s fiscal year-end (June 30) 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 FY19 budget will need to be received before June 30, 2019.  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 7/1/18 through 12/31/19, the expense would be charged to FY19)
• 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 7/1/18 through 6/30/20, $5,000 would be charged to FY19 and $5,000 charged to FY20)

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 orjenifer.baugher@drake.eduwith 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, 2019.

Heather Travis, Finance and Administration