The SWIFT Financial Management System (FMS) will be unavailable on Friday, August 20, 2021, beginning at 6 pm for hard close. The system will become available on Monday, August 23, 2021 at 6 am.
What happens at hard close?
First, the fiscal year (accounting year) is closed and agencies can no longer enter an accounting date prior to July 1, 2021, meaning nothing further can be processed against that year.
• This facilitates reporting by allowing Minnesota Management and Budget to develop the Annual Comprehensive Financial Report (ACFR) 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 2021 appropriations, depending on the appropriation type, are either closed or rolled 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.
Reminder to Buyers: Please be aware the system downtime includes the Supplier Portal. Avoid scheduling solicitation events to close early next week as responders may need extra time to submit bid responses.
The PO Reconciliation (PO Close) job is scheduled to run this weekend as part of the hard close activities. 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 end document processing options and tips.
Remember, you can prevent the PO Close job from closing a fully matched purchase order by selecting the “Hold From Further Processing” checkbox on the purchase order header if you wish to increase the purchase order later.
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 |
|
Overview of Creating Purchase Orders |
Aug 24, 2021 |
9:00 a.m. – 10:30 a.m. |
|
Introduction to SWIFT Navigation |
Sept 8, 2021 |
9:30 a.m. - 11:30 a.m. |
|
Introduction to SWIFT Reporting |
Sept 15, 2021 |
9:30 a.m. - 11:30 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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