Departments

• Accounts Payable - Processes invoice payments to vendors and travel reimbursements to Staff & Faculty
• General Accounting - Financial reporting, annual audit and financial statements, general ledger oversight, account reconciliations, chart of account maintenance, accounting guides and procedures for FIT departments.
• Strategic Sourcing & Contracts - Responsible for overseeing, administering, facilitating, monitoring and controlling the university’s procurements.
• Student Financial Services - Contains Student Accounting & Account Management Departments; responsible for collecting student payments; account refunds; 1098T Tax Information; other student accounting issues
• Tax and Compliance - Federal, State and International tax issues, taxable fringe benefits, unclaimed property tax and unrelated business income.
• Treasury - Manage banking relationship, credit card processing

For easy access, please click on one of the links on the left navigation panel. The Controller’s staff is here to serve you.

Fiscal Year-End Closing Schedule for FY25

Area	Action Items	Department Responsibilities	Deadline
Purchase Requisitions	Last day to submit FULLY APPROVED purchase requisitions to Procurement for posting against FY25 budget. Note: All purchases, whether for items or services, must be received by 4pm, June 30th to be charged against the FY25 budget.	All	June 13, 2025
Roll Forward	Department must identify roll-forward PO which have budget split between FY and notify Strategic Sourcing.	All	June 13, 2025
Prepaid Purchase Order	Identify prepaid Pos	Accounting and Strategic Sourcing	June 13, 2025
Procurement Card purchases	Note: If vendors do not charge end of month transactions until July 1 or after, the purchases will post against the FY26 budget.	All	June 27, 2025
Expense Report and P Card Reconciliation	Procurement card transactions through June 30th must be reconciled. Weekly reconciliation is recommended at fiscal year-end.	All	July 10, 2025
Cash & Checks	All cash and checks collected in FY25 MUST be deposited at the Cashier's Office no later than 3pm	All	June 30, 2025
Inventory	Inventory must be taken as of close of business. Reports are due to the Office of the Controller by July 10.	Aviation	July 10, 2025
Receivers	All receivers for products received or services rendered as of June 30th must be entered into Workday.	All	June 30, 2025
Cash Register	Reconciliation of all cash register transactions as of June 30.	All Business and Retail Operation Sites	June 30, 2025
Supplier Invoice and Miscellaneous Payment Requests	All payment requests related to products received or services performed on or before June 30 must be fully approved by 4:00 July 10 or will charge to FY26 budget	All	July 10, 2025
Development	Gift in Kind listing and Pledge Balance Confirmation due to the Office of the Controller.	Development	July 8, 2025
Work Orders	Construction in Progress work order schedule	Facilities	July 8, 2025
Space Inventory	Space Inventory listing due to the Office of the Controller	Facilities	July 8, 2025
Journal Vouchers	Last day to submit journal vouchers to the Office of the Controller for FY25 processing.	All	July 10, 2025
Student Accounts Receivable	All FY’25 student accounts receivable reports must be run. Reports are due to the Office of the Controller by June 30.	Student Accounting	June 30, 2025
Payroll	All Payroll Accounting Adjustments need to be created and approved	All	June 30, 2025

 

For further clarification, please contact petersons@fit.edu or mkisner@fit.edu