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Fiscal Closing 2015–2016: Overview

The university's fiscal year ends June 30. Departments need to be aware of closing deadlines to ensure that transactions are recorded in the appropriate fiscal year.

Note: No departmental activity affecting 2015-2016 will be allowed after the preliminary ledger cutoff dates. Any entries or corrections that represent current year activity must be made by the appropriate preliminary ledger dates.

Specific guidelines and instructions

General Fund balances

Balances in the General Fund or other current unrestricted funds will not lapse at the department level. Generally, these budget balances, whether positive or negative, will automatically carry forward to the new fiscal year in the same department where they resided as of year-end. (In some cases, vice chancellor offices may restrict the amount of the balance carried forward.) It is campus policy that academic salary dollars (accounts 60xxxx) do not carry forward.

Note: Budgetary controls required within specific vice chancellor areas will be specified in closing instructions provided by each vice chancellor office.

June ledger cycle

The June preliminary ledger cycle should be treated the same as any ledger cycle. No extraordinary effort should be made to include routine transactions in the June ledger, with the following exceptions:

  • Self-supporting activities should record inventories and accruals as specified in instructions sent to those activities.
  • Special and Specific State appropriations (funds 18xxxx and 199xxx, excluding 19900A) may lapse depending on the authorizing agency and may require additional closing steps. Please contact Robin Alcalay, (858) 534-0859, if you have questions about these funds.

Normal monthly guidelines should be followed in processing check requests, travel, petty cash, and reimbursements.

Material errors are to be corrected by the June preliminary ledger deadline: July 15, 2016. After this date, material errors should be reported to General Accounting and/or the appropriate vice chancellor office for evaluation.

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