Happy New Fiscal Year!

Happy new year — metaphorically speaking. While bringing in a new fiscal year might not seem as exciting as the arrival of a new calendar year, it’s certainly a perfect time to reflect, celebrate and plan. So, as Sunday, July 1, 2018, marked the commencement of Valencia’s new fiscal year, we invite you to join us in reflecting on FY 17-18 and dreaming of all the opportunities to come in FY 18-19.

For starters, the new fiscal year is a great time to take a breath and re-organize. 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 18-19 agenda.

This is also a great time to breathe a budgetary sigh of relief, since new fiscal years bring new budgets (and a two percent raise for eligible staff). 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. If you have procurement or contract questions, please email ValenciaProcurement@valenciacollege.edu.

We wish you the best in this new fiscal year.

Leave a Reply

Your email address will not be published.

Related Posts

    Have You Received a Check to Deposit?

    Tuesday, January 18, 2022 Valencia’s Business Operations and Finance team is centralizing the locations that process checks received by the College. Please send any checks you receive directly to the West Campus Business Office, mail code 4-6. This will reduce the amount of time between receipt and deposit of checks. Include the following information so that […]

    Financial Update Town Halls: Submit Your Questions

    Tuesday, January 12, 2021 Do you have questions about how the pandemic is impacting Valencia College’s funding? Want to know what to expect for your budget? Get the answers to all these questions and more at Valencia’s Financial Update Virtual Town Halls on Tuesday, January 19 and Thursday, January 21, 2021. Click the button below to submit […]