Happy New Fiscal Year!

While bringing in the 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 Saturday, July 1, 2017, marked the commencement of Valencia’s new fiscal year, we invite you to join us in reflecting on FY 16-17 and dreaming of all the opportunities to come in FY 17-18.

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 FY17-18 agenda. (Maybe it’s all of the above.)

This is also a great time to breathe a budgetary sigh of relief, since new fiscal years bring new budgets (and a three 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. Read The Juice for the FY17-18 Budget Schedule of Activities — coming soon.
  4. Gift cards are not allowed to be purchased with College funds.
  5. Food, T-shirts or any other personnel-use items cannot be charged to a fund one Operating Budget.
  6. If you are the budget manager of several indexes, you may transfer between those indexes to cover needed expenses.
  7. 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.
  8. 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 Candice Mountz, director, contracts and records, 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.

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