Fiscal Year End Instructions
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Fiscal year 2021 runs from July 1, 2020 – June 30, 2021. The process of closing the books for the fiscal year 2021 will soon be underway and below are some important deadlines for departments.
Departments are strongly encouraged to review their budgets and general ledger reports on a monthly basis. Review reports for any unusual or incorrect items and submit an Expenditure Correction Form to correct charges as necessary. Doing so will ensure the overall accuracy of the University’s financial information as fiscal year 2021 draws to a close.
Fiscal Year End 2021
***Please note these dates are tentative and are subject to change.
- Fiscal Year End Important Dates & Deadlines
- Fiscal Year End Training 2021 (PowerPoint)
- All cash and fund balances must be positive by June 1, 2021
- Completed Non-Capital Fixed Asset Inventory returned to Rebecca Emter by June 30, 2021
- Expenditure Correction Forms (also available in Docusign) to Financial Services by July 7, 2021
- June Recharges due to Financial Services by July 6, 2021
The Fiscal year 2021 closing period will run from July 1 – July 23, 2021. Final FY21 reports can be run in Banner Web Reports after July 23. Please contact Financial Services if you have any questions or need additional information.
Fiscal Year End Tips
Below are some reminders for departments to ensure that Fiscal Year End runs as smoothly as possible.
- Submit Foundation Reimbursement Requests for FY21 as soon as possible before June 30.
- Be sure that all p-card transactions & travel reports for FY21 are completed in Chrome River by June 21, 2021.
- Review dates on invoices to be sure that we are paying them in the correct Fiscal Year (FY21 or FY22). If unsure, please contact Financial Services at x2131 or Business Services at x2140.
- Submit BPA’s for all invoices as soon as possible.
Fiscal Year End contacts:
Accountant – Expenditure Correction Forms