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Fiscal Close Updates

Below is a consolidated view of all fiscal close related updates that are released to campus. Content is subject to change. Be sure to review these pages frequently for updated guidance.

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Budget & Finance Weekly Digest subscribers will receive a limited-edition newsletter, The Fiscal Close Bulletin. Issued from May to July from financesupport@ucsd.edu, The Fiscal Close Bulletin will provide you weekly updates and guidance related to Fiscal Close. 

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FY 21-22 Updates

Date Update
05/23/22

Update: Friendly Reminder from IPPS!

In preparation for Fiscal Year-End Closing, please reconcile Procurement Card, Travel & Entertainment Card and CTS card charges as soon as possible. In the upcoming weeks, through the end of June, we will send reminders to individual cardholders who have outstanding expenses.

  • For P-card expenses, one must reconcile them within 30 days
  • For Travel and Entertainment (Events) expenses, they must be reconciled within 45 days of the business travel end date or the event date

Recommended Department Actions before June 30, 2022

  • Move Transactions from Available Expenses to applicable or new Expense Reports and complete the Report Header fields, ensuring that the desired COA (Optional: Project, Task, Funding Source) fields are populated
  • Make sure that no OP values are selected for chart strings
  • Submit Expense Reports and obtain all appropriate levels of approvals by the Ledger Cutoff Dates for Travel, Events and Non-Events expenses
  • Submit Expense Reports and obtain Financial Unit approvals for P-card expenses once a month. To post to the ledger for FYE, make sure they are approved by your Financial Unit approvers before fiscal year end

IPPS will accrue Concur expenses with transaction dates of June 30, 2022 or before in the GL with Project numbers.  Please note the below:

  • Concur expenses with P-card, T&E card, CTS and Payment to Employee charges not reconciled (i.e. all statuses except for ones with “Sent for Payment”) will be accrued as follows:
    • Transactions not assigned to expense reports will be accrued against the Financial Unit and Project populated in the employee’s profile.
    • If the employee does not have a Financial Unit and Project populated in the profile, transactions will be accrued against the default project associated with the employee’s Primary [Payroll] Assignment Financial Unit
05/16/22

Friendly Reminder from IPPS!

In preparation for Fiscal Year-End Closing, please reconcile Procurement Card, Travel & Entertainment Card and CTS card charges as soon as possible. In the upcoming weeks, through the end of June, we will send reminders to individual cardholders who have outstanding expenses.

  • For P-card expenses, one must reconcile them within 30 days
  • For Travel and Entertainment (Events) expenses, they must be reconciled within 45 days of the business travel end date or the event date

Recommended Department Actions before June 30, 2022

  • Move Transactions from Available Expenses to applicable or new Expense Reports and complete the Report Header fields
  • Make sure that no OP values are selected for chart strings
  • Submit Expense Reports and obtain all appropriate levels of approvals by the Ledger Cutoff Dates for Travel, Events and Non-Events expenses
  • Submit Expense Reports and obtain Financial Unit approvals for P-card expenses once a month. To post to the ledger for FYE, make sure they are approved by your Financial Unit approvers before fiscal year end.
05/09/22

Final Local Approval Deadlines for UCPath Direct Retros/Funding Entry Freeze

Below are the final local approval deadlines for UCPath Direct Retros:

  • Monday, May 16 @ 5:59am: Biweekly Final Local Approval for posting in May
  • Friday, May 20 @ 5:59am: Monthly Final Local Approval for posting in May
  • Tuesday, July 5 @ 5:00pm: Monthly/Biweekly Final Local Approval for posting in June
    • Note: the deadline has been extended for Fiscal Close
  • The above deadlines are very important to departments performing corrections associated with Payroll on Project "Zero"/No project/Project "000000".

The Fiscal Year End Funding Entry Freeze will be on June 24 to June 30. Do not approve any Funding Entry during this period, as it may interfere with the FYE rollover processes.

05/09/22

Foundation Transfers, PPM 410-5 and PPM 410-6

Advancement Services is reviewing balances of gift funds and will ask your business unit for help to comply with the following:

  • Gift and Foundation Accounting will be transferring balances from the Foundation to campus ledger for Foundation funds where the campus expendable is in deficit or the Foundation expendable is less than $500 with no recent transfer activity. These transfers will post on May 31, 2022. If you want to ensure these transfers are going into a particular project or financial unit, please submit a Request for Funds form by May 20, 2022.
  • A notice of gift funds non-compliant with PPM 410-5 will be sent to fund holders and business officers to help prepare a carryforward request or spending plan, due September 30, 2022. More information can be found on the Policy on Expenditure of Gift Funds webpage.
  • All units with gift funds are responsible for developing and providing timely and impactful stewardship reports to donors on the use of and expenditure of their gifts. The Office of Gift Policy and Donor/Fund Stewardship will be asking for a narrative of the use of endowed gifts for the period July 1, 2021 to June 30, 2022 and a stewardship report of expendable (current-use funds) gifts of $1 million or more, to be submitted by July 29, 2022. If you have any questions, please email fundstewardship@ucsd.edu.
Resources: 
05/03/22

AP Expense Accruals

IPPS will be posting AP expense accruals during FYE 2022. The accrual entries will post in the GL with project numbers for all AP invoices in Oracle by the AP June ledger cutoff date of 7/8/22.

  • IPPS will accrue for expenses dated on or before June 30 including:
    • Oracle AP invoices in the system that are not validated (not accounted to GL/PPM). This does not include invoices entered in payment compass that are not yet keyed into Oracle.
    • Oracle AP invoices in the system that are validated but pending approval (not accounted to GL/PPM). This does not include invoices entered in payment compass that are not yet keyed into Oracle.
    • Concur expense reports with Pcard, T&E card, or CTS card charges that are posted in Concur but not reconciled by card holders
    • Concur cash advance that are assigned to travelers with trips that have not been completed or reconciled
  • Recommended departmental actions before FYE 2022:
    • Minimize outstanding invoices within Oracle by having Requesters and Financial Unit Approvers review/approve assigned invoices/transactions as soon as possible; work with the AP team to resolve any invoice hold issues.
    • Minimize outstanding transactions within Concur by adding charges to Expense Report(s), coding, and obtaining final approval no less than on a monthly basis.
05/03/22

Submission Deadline: Interlocation Transfer of Funds

Interlocation Transfer of Funds (ILTF) to other UC's must be submitted by May 15, 2022 for Fiscal Year 2022. As a reminder, there is no ILTF processing in June.

Resources:

05/03/22

Close/Inactivate Travel/Event Requests

If you have Concur Travel or Event Requests with projects that are closing, and all associated Expense Reports have been processed, then your Travel/Event Requests should be closed to lift the commitments. Concur users/delegates can do so by following these steps:

  1. Navigate to the Travel/Event Request 
  2. Click the Close/Inactivate Request button at the top right of the open Request

Note: Travel and Event Requests automatically close 120 days past the Business Travel End Date or Event Date, respectively.

Fiscal Close Bulletin: Archive

Find answers, request services, or get help from our team at the UC San Diego Services & Support portal or call the Finance Help Line at (858) 246-4237.