End of Fiscal Year Payroll Procedures

The fiscal year 2008 closing for the Regular payroll will follow the same process as in prior years.  Following the charging of payroll for the pay period ending June 3, 2008, an additional accrual charge will be posted for the last thirteen days of the fiscal year.  These exact charges will be reversed at the beginning of 2009 fiscal year.

The same technique will be applied to the Contract payroll by posting the additional accrual charges of the last 20 days of the fiscal year, in the pay period that ends May 27, 2008.  These exact charges will be reversed at the beginning of the 2009 fiscal year.

Below is a detailed description of the manner in which charges will be applied or credited by Fiscal Year.  The employee’s paycheck or deposit advice and payroll records are unaffected by this procedure.

These fiscal year payroll procedures are consistent with the fiscal year closing requirements and procedures published by the General Accounting Division of the Comptroller of Maryland.  If specific circumstances adversely affect your Agency, please contact Mary F. Leonard of the General Accounting Division for assistance at 410-260-7366.

REGULAR PAYROLL SYSTEM
End of Fiscal Year Payroll Procedures
June 3 through July 1, 2008 Pay Period Ending Dates

June 3, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the agency’s FY 2008 accounts.
2. R*STARS transactions will be processed against FY 2008.
3. The accrual will be made to wages and all subsidies.

June 17, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the Agency’s 2008 accounts.
2. R*STARS transactions will be processed against FY 2008.

June 18, 2008

This is the last day for receipt in the Central Payroll Bureau of check cancellations to be credited to FY 2008.  Check cancellations received after this date will be credited to FY 2009 Agency accounts.

July 1, 2008

The charges that were issued through R*STARS to accrue the final 13 days of June to FY 2008 will be exactly reversed in FY 2009 to Agency accounts.

July 1, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the Agency’s 2009 accounts.
2. R*STARS transactions will be processed against FY 2009.

CONTRACT PAYROLL SYSTEM
End of Fiscal Year Payroll Procedures
May 27, 2008 through July 8, 2008, Pay Period Ending Dates

May 27, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the Agency’s FY 2008 accounts.
2. R*STARS transactions will be processed against FY 2008.
3. An additional charge will be issued through R*STARS that will accrue the final 20 days of June to FY 2008, i.e. the period of June 11th to June 30, 2008.  The accrual will be made to wages and all subsidies.

June 10, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the Agency’s FY 2008 accounts.
2. R*STARS transactions will be processed against FY 2008 accounts.

June 18, 2008

This is the last day for receipt in the Central Payroll Bureau of check cancellations to be credited to FY 2008.   Check cancellations received after this date will be credited to FY 2009 Agency accounts.

June 24, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the agency’s FY 2009 accounts.
2. R*STARS transactions will be processed against FY 2009 accounts.

July 1, 2008

The charges that were issued through R*STARS to accrue the final 20 days of June to FY2008 will be exactly reversed in FY 2009 accounts.

July 8, 2008 Pay Period Ending Date

1. Wages and all payroll subsidies will be charged to the Agency’s FY 2009 accounts.
2. R*STARS transactions will be processed against FY 2009.