SSEA FAQ

During the year, the cash balance of all UC funds participate in the Short-Term Investment Pool (STIP). Distribution of the interest earned (surplus balances) or charged (deficit balances) will be in accordance with the procedures in Business and Finance Bulletin A-60, Short-Term Investment Pool Distribution of Income. Current campus procedures dictate that the STIP be recorded in the respective Vice Chancellors’ STIP funds

Activities that have non-UC users must use ISIS billing services by completing a detail code and/or category code and submitting to Student Billing Services. Billings must be recorded no less than monthly. Activities will not initiate Recharge or other billing transactions in advance of providing goods and services, except when required by federal awards.  Progress Recharges or billings may be made for jobs in process.

When an activity is no longer in operation, you must notify the GA contact to coordinate the closing of the fund(s). The funds need to zero-out prior to inactivating the index and numbers. If the activity had a Renewals and Replacement Reserve fund and/or Differential Income fund, those balances have to be zero and the funds and index numbers need to be inactivated. It is imperative to close the funds to avoid additional charges. In addition, if the activity has balance sheet accounts, such as credit card clearing accounts or accounts payable accounts, those accounts must be cleared also.

The remaining inventory of an activity that is to be closed should be transferred at cost to another departmental activity or transferred to surplus sales in accordance with campus policy.

There may be specific fiscal closing entries that are required. An instruction document is prepared each fiscal year, “Recharge & Other Income-Producing Activities Fiscal Closing Special Items Instructions”. The document is available by the end of April. All SSEAs must refer to this document for entries that may be required for your activity.