SWIFT Update July 28, 2016
Year End Hard Close – FMS Availability
The SWIFT Financial Management System (FMS) will be unavailable on Friday, August 12, 2016, beginning at 6 pm for hard close. The system will become available on Monday, August 15, 2016 at 6 am.
What happens at hard close?
At a high level, two important things happen at hard close:
First, the fiscal year (accounting year) is closed and agencies can no longer enter an accounting date prior to 7/1/2016, meaning nothing further can be processed against that year. This facilitates reporting by allowing MMB to develop the Comprehensive Annual Financial Report (CAFR) against data that can no longer be changed. It also performs the important function of closing income statement activity into fund balance to create an accurate starting point for the new fiscal year.
Remember, the fiscal year is different from the budget fiscal year (BFY). Budget fiscal year (budget period or budget date) is used to control spending authority as required by law and is not closed as part of this process.
Second, any unencumbered balances in BFY 2016 appropriations, depending on the appropriation type, are either closed or balanced forward. Exceptions include continuing or education aids appropriation types where the closing process does not affect unencumbered balances. After the close, agencies can make payments against encumbrances and can cancel encumbrances if no longer needed. Agencies can still deposit receipts to the closed budget fiscal year.
Purchasing Update: Equity Select PO Documents Can Now Reference Contracts
We recently rolled out two new Equity Select document types for Targeted Group, Economically Disadvantaged, or a Veteran-Own Business vendors: DTG (Direct TG/ED/VO) and BTG (Blanket TG/ED/VO). Tying the new document types to contract types gives us the best opportunity to report how well we are utilizing the new Equity Select procurement method. Contracts may now be referenced on both the BTG and DTG document types.
• For Agency Good Contracts (AGC) and Agency Service Contracts (ASC), you may use either document type that is appropriate (DTG or BTG).
• For Professional/Technical Service Contracts (PTK), only BTG document type is available.
• The Equity Select document types can only be tied to contracts established by the Agency, not Statewide contracts established by MMD.
The Equity Select procurement method allows you to directly select a TG/ED/VO business for purchases up to $25,000 without using a solicitation process. When you use Equity Select, use either DTG (Direct TG/ED/VO) or BTG (Blanket TG/ED/VO) as the SWIFT purchase order document type for entering either: 1) a purchase order for a one-time purchase up to $25,000; or 2) multiple purchase orders against an Agency contract (AGC, ASC, or PTK) that has a value, including all extensions, up to $25,000.
For questions about which vendors are eligible for Equity Select, contact The Office of Equity in Procurement:
• Phone: 651-201-2402
• Email: firstname.lastname@example.org
For questions about entering purchases in SWIFT, contact the SWIFT help desk.
Reminder: Purchase Order Close Job Scheduled for July 29th and Hard Close Weekend
Due to the large number of purchase orders processed by agencies each fiscal year, the PO Reconciliation (PO Close) job will be run three times this year, instead of the usual two, to assist in closing FY 2016 purchase orders.
• The first PO Close job was run on May 13th
• The next PO Close job is scheduled to run on Friday, July 29th
•The job is scheduled to run again on the FY 2016 hard close weekend of August 12th
The PO Close job closes purchase orders that have been fully matched by setting the PO status to “Complete”. See the SWIFT Procurement Year End Processing Tips document for additional information about the PO Close job along with other procurement year document processing options and tips.
Remember, you can prevent the PO Close job from closing a fully matched order by clicking the “Hold From Further Processing” checkbox on the PO header page should you plan on increasing the order at a later dat
Reminder: New Security Role Required for SWIFT EPM Data Warehouse Year End Reporting
FY 2016 year end reporting data will be available in the SWIFT EPM Data Warehouse.
A snap shot of data was taken at soft close (June 30) and will be taken at hard close (August 12). The snap shot data will include general ledger, journal records, voucher records, KK ledger, budget records, AR records, payment records, purchase order records, billing records and bilateral netting data. The EPM point-in-time data tables will include the prefix “PS_X_FR_”. More detail about the SWIFT EPM Data Warehouse Year End reporting can be found on the SWIFT Data Warehouse Bulletin page (see the May 17, 2016 Bulletin).
Staff who need access to this financial data will need to request a new security role: M_EPM_FSCM_FINRPT (Year-End Financial Reporting Data). To do this, complete and submit the Request for Access to SWIFT Statewide Systems form. The form and instructions can be found on the SWIFT Security Access Forms page.
The SWIFT EPM Data Warehouse data will be the year end reporting tool for FY 2016 and going forward. FY 2015 Year End reporting will continue to be available from the FMS Year End Reporting link on the SWIFT menu.
SWIFT Help Desk
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:
• Issue Description
• Business Unit
• Module (Accounts Payable, Purchase Orders, etc.)
• Transaction ID (Voucher ID, PO ID, etc.)
• Error Message Print Screen
Additional assistance can be found on the SWIFT Reference Guide page.
To find SWIFT training, open Employee Self-Service and select the Learning folder. Then, search the Catalog using the keyword “SWIFT” to find and enroll in classes currently scheduled. Classes are free of charge and open to everyone.
SWIFT Update Mailing List
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.