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.
It is critical to enter correct dates in SWIFT modules. The updated Defining Dates in SWIFT quick reference guide lists important and/or required dates defined by module.
Processing payments against FY 21 field purchase orders and blanket orders has been updated to a deadline date of 8/13/2021. Agencies must close or cancel any open blanket orders and process FY21 obligations using FY22 funds after this date.
Date Module Function Action
8/13/2021 PO Fiscal Year Close Deadline for Agencies to process BFY field purchase orders (FPO)
8/13/2021 AP Fiscal Year Close Deadline for Agencies to process payments against blanket purchase orders (BPMs and APKs using PLACEHOLR supplier)
The updated 2021 Agency Annual Schedule is available on Minnesota Management and Budget's Budget and Accounting Instructions webpage.
Lonie Goldsberry is one of the trainers on the SWIFT Training team.
How long have you been with Minnesota Management and Budget (MMB)?
I have been with MMB almost two years. I have been with the State of Minnesota for nine years. Besides MMB, I have worked Advance IT Minnesota (housed at Metropolitan State University), Century College, and Minnesota Department of Employment and Economic Development.
What's your favorite part of your job?
Helping users become problem solvers with their SWIFT transactions.
Fun Fact:
I am community faculty at Metropolitan State University and teach psychology courses. I have three grandchildren. This is Elliott on Nana night!
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 [email protected] 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:
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.
