Happy New Fiscal Year

It’s hard to believe that we are already in fiscal year 2019-2020, as Monday, July 1, 2019, officially marked the commencement of Valencia’s new fiscal year. Now is the perfect time to reflect on FY 18-19, celebrate accomplishments and plan for opportunities to come in FY 19-20.

For starters, the new fiscal year is a great time to take a breath and reorganize. Perhaps for you that means reorganizing last year’s paperwork cluttering your desk, actually filing your files or making the first mark in your FY 19-20 agenda.

This is also a great time to breathe a budgetary sigh of relief, since new fiscal years bring new budgets. Of course, with those new budgets come responsibility.

To help us transition into the new year, Assistant Vice President of Budgets and Analysis Oscar Cristancho Mercado offers us some tips:

Budget Tips

  1. Review your budgets frequently, and reach out to the Budget Office for assistance with planning and projecting fiscal year expenditures.
  2. Monthly budget reports are available to assist you with your ongoing planning. Ask the Budget Office how to receive an automatically generated monthly report.
  3. Gift cards are not allowed to be purchased with College funds.
  4. Food, T-shirts or any other personnel-use items cannot be charged to a fund one Operating Budget.
  5. If you are the budget manager of several indexes, you may transfer between those indexes to cover needed expenses.
  6. If you are making a purchase for two different budget managers, there’s no need to transfer the funds to one budget manager; just split the requisition between the two indexes.
  7. If you have a change in budget managers, please send an email to the Budget Office.

Procurement and Contract Tips

  1. Prior to submitting requisitions in Banner, please send all contracts to Yaremis Fullana, managing director, procurement, for review and to obtain final signatures.
  2. Encourage suppliers and contractors to use Valencia’s agreements to avoid delay in review and possible negotiation of terms in outside agreements. You can find these agreements in Atlas, in the Employees tab. Under Employee Support, click on Tools and then Valencia Forms.
  3. When entering your requisitions in Banner, include the proper number of quotes, the proposal, your fully executed agreements and renewals, and contract numbers.

If you have any budget questions, please email the Budget office at BudgetOffice@valenciacollege.edu. For any procurement questions, please email ValenciaProcurement@valenciacollege.edu. For any contract related questions please contact Lora Lee Johnston-Kavey, director, contracts and records, at ljohnston@valenciacollege.edu or 407-299-5000, extension 3048.

We wish you the best in this new fiscal year.

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