Agencies should not roll forward appropriation balances into budget period 2021 or process actual transfers for budget period 2021 before July 1. Minnesota Management and Budget (MMB)'s SWIFT Module Support will be monitoring for 2021 transfers and will have agencies reverse transactions with a transfer correction for those transfers that are processed before July 1. Agencies can process anticipated transfers (XATs) prior to July 1 in order to set up expense budgets and encumbrances.
As we approach the end of the fiscal year (FY), it is important to ensure that outstanding 2020 accounting transactions are complete. To the extent possible, these transactions should be fully processed by June 30.
1. Identify and process all known receipt and expenditure corrections related to FY 2020.
2. Deposit at the bank and record in SWIFT all miscellaneous cash receipts received on or before June 30.
3. Review transactions to make sure they are fully processed in SWIFT. Here are some resources to help with this review:
4. Review and close negative encumbrances.
You can identify them by running the M_PO_GBL_NEG_ENCUMB_KK query in the Query Viewer.
5. Statewide Indirect Cost invoices are due June 30.
Agencies should make all effort to pay them timely. The invoices do not include the federal portion as this is paid separately.
6. Federal Indirect Cost Payments.
Agencies need to process their federal receipt vouchers for the indirect costs timely as well to be included in the reverse bilateral netting process. Please see Budget and Accounting Instructions Document 2 for details on how to enter Federal Indirect Cost Vouchers. You can find it on the SWIFT Budget and Accounting Instructions page.
The reverse bilateral netting process will be run on the following dates:
• June 23, 2020
• July 7, 2020
• July 21, 2020
• August 4, 2020
• August 18, 2020
7. FY 2020 Transfers.
Agencies are to complete any known FY 2020 transfers by June 30, so that the fiscal year and the budget year are the same. This helps to minimize manual adjustments in the ACFR reporting.
8. BFY 2020 Year-End Spending.
All goods and services must be encumbered according to MMB Statewide Operating Policy 0901-02, Fiscal Year-End Closing Transactions – Pre-Encumbrances/Requisitions, Encumbrances/Purchase Orders, Expenditures/ Payment Vouchers. Payments for services rendered or goods ordered after June 30 must be made from BFY 2021.
For questions about processing these transactions, contact the SWIFT Help Desk.
SWIFT will be unavailable on Tuesday, June 30, 2020, beginning at 6 p.m. for soft close. The system will become available Wednesday, July 1, 2020, once soft close is complete. A system notification email will be sent to users when the system becomes available.
Reminder to Buyers: Please be aware of the system downtime. This includes the Supplier Portal. Avoid scheduling events to close on July 1st. Depending on when the system comes up, bidders and suppliers may or may not have time to enter bid responses if an event is scheduled to close on July 1, 2020.
A new Statewide Cost Code MSP has been established. State agencies may begin using this code to track costs related to the Minneapolis/St. Paul Peacetime Emergency as of May 28, 2020. For more information, refer to the Statewide Cost Code for Minneapolis/St. Paul Public Safety Peacetime Emergency memo.
The SWIFT training team is following the guidance from the Governor’s office on Supporting State Workforce through COVID-19. We are offering online training through webinars, one-on-one sessions, and video tutorials.
To find and enroll in SWIFT webinars, open the Self Service or Administrative Portal and select the ELM tile. On the Learning Management page, select Find Learning on the left menu. On the Find Learning page, enter “SWIFT” in the Description field and choose Search. Seats are available in the following webinars:
|
Webinar |
Date |
Time |
|
SWIFT Create, Correct, and Verify Direct Journal Deposits |
June 23, 2020 |
1:30 pm to 3:00 pm |
|
SWIFT Enter Deposits and Apply Payments for Accounts
|
June 24, 2020 |
1:30 pm to 3:00 pm |
|
SWIFT Use Maintenance Worksheets to Manage Customer
|
June 25, 2020 |
1:30 pm to 3:00 pm |
|
Introduction to SWIFT Webinar (Navigation) |
June 17, 2020 |
9:30 am to 11:30 am |
|
Introduction to SWIFT Webinar (Reporting Tools) |
June 26 2020 |
9:30 am to 11:00 am |
|
SWIFT Create a Contract Shell Webinar |
June 16, 2020 |
8:30 am to 10:00 am |
|
SWIFT Overview on Creating Contract Documents Electronically Webinar |
June 25, 2020 |
8:30 am to 10:00 am |
You can find reference guides on all modules in SWIFT on the Training Guides and Resources page.
Contact the SWIFT Help Desk for any questions, concerns or issues you have with SWIFT:
651-201-8100, option 2 or by email SWIFTHelpDesk.MMB@state.mn.us Hours: 7:30 a.m. to 4:00 p.m., Monday through Friday; closed holidays. When emailing the SWIFT Help Desk, be sure to include all details regarding the issue.
Information to include with your message:
The SWIFT Update is sent to the SWIFT Newsletter subscription list. Use the links at the bottom of the page to subscribe or unsubscribe to the SWIFT Newsletter subscription list.
