2015-2016 Fiscal Year End Closing

In an Administrative Memo dated April 26, Assistant Vice President and University Controller Alan West reminded campus of the need to prepare for the annual closing of the fiscal year:

It is that time of year again to prepare for the annual closing of the fiscal year. The 2015-2016 fiscal year ends on June 30, 2016. The scheduled date for closing the General Ledger for the 2016 fiscal year is Wednesday, July 13, 2016.”

Please note the early deadline of May 5, 2016 for requisitions on appropriated funds for orders above $75,000 that require competitive bidding.

Year-end closing requires the coordinated efforts of Finance and Accounting and campus departments to ensure that all financial activity is accurately recorded. It is important that all departments review and reconcile their ledgers, verifying that all requisitions, invoices, travel expenses, and payroll transactions pertaining to the 2016 fiscal year, have been recorded accurately and all corrections have been posted.

The full text of the Administrative Memo is available here.