Minnesota Management and Budget (MMB) executed a successful soft close on June 30, 2021.
The impact on agencies for budget period 2021 appropriations is:
• Agencies cannot create new encumbrances (POs) against budget period 2021 appropriations (except type 02 - continuing).
• Agencies creating vouchers for budget period 2021 must reference an existing encumbrance (except type 02 - continuing).
• Agencies need to cancel all requisitions.
• Agencies can still deposit receipts for bills and receivables created against budget period 2021.
These are critical tasks that agencies need to accomplish in the next few weeks to ensure a successful hard close on August 20, 2021.
The close period is July 1 through August 20, 2021. When entering transactions in the close period, do not let the Accounting Date default to the current date. Also, see instructions in the
Annual Budget and Accounting Instructions - Document 3 when it becomes available.
A. Transfers
• Transfers made between July 1 and August 20 for Budget Period 2021 must have a Journal Date of the current date for the Accounting Date to reflect the date the cash moved. Agencies should be aware of the dates to ensure the correct date is entered.
B. Receipts
• Make sure that all miscellaneous cash receipt transactions for Budget Fiscal Year (BFY) 2021 have a matching accounting Fiscal Year (FY) of 2021. Use an Accounting Date of June 30, 2021 or a prior date.
• For SWIFT receipts that were deposited at the bank by June 30 but the deposit entry in SWIFT was not recorded by June 30, use an Accounting Date of June 30, 2021 and a Received Date of when you deposited the receipt at the bank.
• Process correcting direct journal entries for FY 2021 with an Accounting Date of June 30. These must be processed no later than August 20, 2021. See the Annual Budget and Accounting Instructions - Document 3 for further details and exceptions.
• For miscellaneous cash receipts that you receive July 1, 2021 or later that relate to FY 2021, ensure that the Accounting Date and the Received Date are the date your agency deposited the money in the bank.
C. Payments
• For payments, the Accounting Date is based on the Received Date of the goods or services. This Received Date may cause the Budget Date to be different. The goods or services must be received by June 30 to be in accounting FY 2021.
D. Indirect Cost Payments
• If you make indirect cost payments after June 30 that relate to FY 2021, enter the Accounting Date of June 30, 2021. Change this field manually; do not let this date default as SWIFT will default it to the current date.
E. Capital Assets
• The SWIFT Asset Management module (AM) will close for FY 2021 activity at the hard close this year on August 20. Agencies should complete all FY 2020 AM transactions on or before that date. FY 2021 transactions entered between July 1 and August 20 must have an accounting date of June 30 or prior if they are to be recorded as FY 2021 transactions.
• ACFR Asset Certification reports will be available in the OBIEE Data Warehouse to aid in completing the Asset Certifications. The Capital Asset Certification worksheets and instructions will be emailed for agencies to complete on August 2 and due back August 27, 2021. Send capital asset certification questions to Travis.Creel@state.mn.us.
Please complete all mass expense transfers, prior period adjustments, business expense reimbursements and expense transfers, and any other adjustments as soon as possible to avoid having insufficient time to correct unexpected errors.
BFY 2021 Closing Deadlines:
• 7/9/2021 - BFY 2021 All other Position Funding updates must be completed by noon.
• 7/19/2021 - BFY 2021 Relocation Expense reports must be received by noon.
• 7/22/2021 - BFY 2021 Business Expense, Travel Advance Settlements and Business Expense Transfers must be completed by the end of the day.
• 7/23/2021 - BFY 2021 Prior Pay Period Adjustments and Retroactive Pay Adjustments must be completed by the end of the day.
• 7/30/2021 - BFY 2021 Mass Expense Transfers must be completed by noon.
For more information, please refer to the Budget Fiscal Year 2020 Closing Deadlines for Payroll memo dated June 4, 2021.
Agencies must clear up Over-the-Limit (OLT) rows in the grants module prior to hard close. Over-the-Limit rows represent transactions processed against a grant agreement which have exceeded the established Contract Billing Limit. OLT rows will cause complications with SEFA reporting, and may require your agency to make manual adjustments to the report if not resolved by hard close.
Run the M_GM_GBL_GRNT_OVER_LIMIT_TRANS query in SWIFT to obtain a list of Over-the-Limit transactions for your agency.
To resolve OLT rows:
• Agencies can process a Contract Amendment to increase the Contract Billing Limit. Steps for this are provided in the Add or Reduce Grant Funding Quick Reference Guide. After completing the Contract Amendment, the OLT rows should disappear following overnight batch processing.
• If total grant expenditures exceed the reimbursable amount of the grant, agencies should process expenditure corrections to move expenditures.
If you have questions or issues regarding resolving OLT rows, please contact the SWIFT Help Desk.
An agency may add a project and or activity that relates to an existing contract, but failed to associate the project/activity to the contract. When this happens, the expenditures are excluded from SEFA reporting.
Agencies should run the M_GM_GBL_UNBILLED_REIMB_ROWS query in SWIFT to obtain a list of 2021 reimbursable transactions without contract numbers.
Steps to add a project and or activity to a contract is in the Add Projects and Activities Quick Reference Guide. After completing, please email MMB at AgencyAssistance.MMB@state.mn.us to run the Pricing job to create the billable rows. Once the billable rows are created, the expenditures will properly reflect on SEFA reporting.
If you have questions or issues regarding resolving possible missing expenditures, please contact the SWIFT Help Desk.
The SWIFT training team is 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:
|
Webinars |
Date |
Time |
|
SWIFT Budget Journal Administration |
July 20, 2021 |
9:00 a.m. – 11:00 a.m. |
|
Introduction to SWIFT Reporting |
July 21, 2021 |
9:30 a.m. – 11:30 a.m. |
|
Overview of Accounts Payable |
Aug 3, 2021 |
9:30 a.m. – 10:30 a.m. |
|
Billing Part 1 |
Aug 4, 2021 |
9:30 a.m. – 11:00 a.m. |
|
Billing Part 2 |
Aug 4, 2021 |
1:00 p.m. – 2:30 p.m. |
|
Strategic Sourcing, Part 1: Create, Post, and Approve Events |
Aug 4, 2021 |
9:30 a.m. – 11:30 a.m. |
|
Create a Contract Shell |
Aug 5, 2021 |
9:00 a.m. – 10:00 a.m. |
|
Strategic Sourcing, Part 2: Analyze and Award Events |
Aug 11, 2021 |
9:30 a.m. – 11:30 a.m. |
|
Overview of Creating Purchase Orders |
Aug 24, 2021 |
9:00 a.m. – 10:30 a.m. |
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:
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