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OFFICE OF THE (340) 774-4750 COMMISSIONER Fax: (340) 714-9442 GOVERNMENT OF Mailing Address: Street Address: 2314Kronprindsens Gade 76 Kronprindsens Gade Charlotte Amalie, VI 00802 Charlotte Amalie, VI October 5, 2010 FINANCE MEMORANDUM _NO. 001-2011 TO: DEPARTMENTS AND AGENCY HEADS SPECIAL ATTENTION TO: Fiscal Officers and Supervisors of Accounts Federal Program Officers an FROM: : Angel E. Dawson, Jr. / Commissioner RE: Opening of Fiscal Year 2011 in ERP / Preparation As a result of your continued commitment and cooperation throughout Fiscal Year 2010, the Department of Finance (DOF) successfully opened Fiscal Year 2011 (FY’11) in the Enterprise Resource Planning (ERP) system, effective October 1, 2010. We are sincerely appreciative of your unwavering efforts to continuously provide us with constructive feedback related to improving the ERP system as well as our corresponding policies and procedures, both of which collectively serve to strengthen the overall internal control environment for the Virgin Islands Government (GVI). Until GVI formally issues its FY’09 audited financial statements, which we look forward to concluding by the second quarter of FY’11, the ERP system will be in “soft close” mode. Therefore, we take this opportunity to provide you with an enhanced understanding of what “soft close” mode means to your department/agency. In a “soft close” mode, balance sheet accounts, purchase orders (PO’s) and the budgets associated with multiyear funds are not rolled to the new-year as a result of having more than two (2) fiscal years open on the ERP system (e.g., FY’09, FY’'10 and FY’11). Memorandum No. 001-2011 October 5, 2010 This does not prevent invoice transactions from being processed against open PO’s or multiyear funds budgets in the new fiscal year; however, we recommend that the following points be adhered to during FY’11: All purchase orders (or encumbrances) prior to Fiscal Year 2008 (FY’08) must be closed in the ERP system by October 31, 2010. If DOF does not receive a properly executed justification letter (i.e., Agency Head) by October 31, 2010, encumbrances prior to FY’08 will be closed, without exception. o Please print the listing of your purchase orders so that an analysis can be performed. Maintain a record of all “pick ticket” transactions processed through the Department of Property and Procurement, as well as any PO’s that were more than or within the10% range of the original PO. o If reconciliation is not done you may receive “exceed available budget by a specific amount” error message. Submit in writing to the Commissioner of Finance, requests to roll multiyear funds, not flagged as such in the ERP system. o Payroll reconciliation needs to be done prior to submitting your request. All adjustments submitted to DOF for processing must have available budget. o Adjustments will not be processed without the available budget unless a request for roll up codes to be established is provided. All new grants need to be set up in the grants module before any budget or expenditure processing. o Spending from any new grants (2011) will be prohibited unless that grant has been established in the grants module. Once again, your usual cooperation and assistance in helping to facilitate the fiscal year end and year open process is greatly appreciated. Should you have any questions regarding this memo, please feel free to contact Ms. Clarina Modeste Elliott at (340) 774-4750 extension 2313.