Fiscal Year-End

If any of these duties are your responsibility and you plan to be out of the office, ensure someone will accomplish these tasks by their due date. These are firm dates in order for us to meet our deadlines. Any exception to the listed deadlines requires approval by OFA.

Refer to UA's Year-End Finance Closing Instructions (PDF) for full details of process requirements.

May 13
  • FY23 Recharge Center rate proposals due to OFA
June 3
  • Last day for FY22 committed (commit type “C”) encumbrance transactions, including deletes, to AP (including travel encumbrances) by 5:00 PM
  • Last date to submit FY22 Budget Revisions for all funds to OFA
  • FY23 Continuation Budget due to OFA
  • Last date for PCN attribute changes in Banner
June 13
  • Dates of physical inventory and inventory instructions due to OFA
  • Submit all FY22 petty cash receipts for reimbursement (petty cash activity that occurs after this date may process as FY22 until June 30)
June 28
  • FINAL FY22 Labor Reallocation Run & Pay (2022 R01-R26) using FY22 Staff Benefit rates and posting to FY22 Finance period
June 29
  • Last  FY22 Labor Reallocation (2021 R14-R26) using FY22 Staff Benefit Rates
June 30
  • Last day for match revenue transfers for FY22
    • Reminder: All match funds must have, at minimum, a zero balance (actual expenditures to revenue)
    • Submit match budget requests (original or revision) to OGCA in advance
    • OFA will not approve any revenue transfer in excess of the approved budget
  • Deposit all cash receipts including credit card deposits by 3:00 PM with the Office of the Bursar.
    Close all cashier sessions by 5:00 PM
  • Last date for issuing and delivering FY22 checks (non-payroll)
  • Date goods or services must be received or invoiced to be FY22 accounts payable
  • List undelivered checks
  • Physical inventory cutoff date
  • Record last check number used (AP, hand pay & PR)
  • FY22 fiscal year ends
July 1
  • Units with inventories must submit inventory lists (with copies of count sheets), associated inventory reconciliation and JVs to OFA
July 4/5
  • Holidays
July 6
  • Position (PCN) attribute adjustments resume

 

  • FY22 JVs submitted to OFA by this date are guaranteed to post to FY22; after this date and until July 15, JVs are posted to FY22 only if time permits
July 7
  • LR 2022 R01-R13 Labor Reallocation at FY22 Staff Benefit Rates and posting to FY22 Finance period
July 8
  • Last day for electronic file feeds from Geophysical Institute and Facilities Services subsystems by 12:00 Noon
  • Last day to submit complete and accurate Concur expense reports for guaranteed processing in FY22
July 9
  • R14 payroll period posts to Banner
July 13
  • Last day for FY22 encumbrance transactions, including deletes, by 3:00 PM
  • Last day AP canceled checks are reissued
July 14
  • LAST FY22 Labor Reallocation Run (2022 R01-R14) using FY22 Staff Benefit Rates and posting to FY22 Finance period
July 15
  • Detail of debit fund balances (deficits) on restricted/event funds and JV to record
  • Deadline for expense report processing in FY22
  • Deadline for entering/tagging FY22 fixed asset equipment
  • OFA closes at 12:00 Noon
July 16
  • General Ledger Roll
  • Encumbrance Roll
  • Budget Roll
July 20
  • All Cycle 12 Balance Sheet Reconciliations due to OFA
  • Recons for loan fund accounts due to OFA
  • Analysis of doubtful loans due to OFA
  • Listing of loan receivables due to OFA
  • Year-end Encumbrance Report due to OFA
  • Extended cycle balance sheet reconciliations due to OFA
  • Plant fund capitalization schedule due to OFA
  • Capital improvement expenditure schedules (fund 1 & 5) due to OFA
  • Recon of allowance for doubtful accounts due to OFA

 

Note: All dates listed on the calendar are hard deadlines for the purpose of UAF processing. 

Downloadable PDF: UAF Year-End Key Dates


Travel

Since Concur does not establish encumbrances in Banner for travel expenses, any trips processed in Concur are automatically paid out from the current fiscal year's funding once reviewed and keyed for payment.

FY22 travel expenses require processing prior to the fiscal year rollover in order to hit FY22 funding. Contact the Travel Customer Service Office (TCSO) for help with expense reports and card transactions that need resolution before the fiscal year ends.

  • Purchases made with the Travel Agency Card or UA Travel Card are held on a general ledger until assigned to and processed on an expense report in Concur. You can request and book Fund 1 FY23 travel prior to July 1, 2022 with no further action needed, as these charges are applied in the fiscal year in which the expense report is processed (FY23).
  • All FY22 travel (start date prior to July 1, 2022) must have an expense report processed, approved and submitted for payment by July 15, 2022.
    • Concur expense reports processed after July 15 are charged to FY23 regardless of travel dates.
    • In order to ensure meeting this processing deadline, we recommend submitting Concur expense reports before July 8, 2022.
  • For local mileage reimbursements not processed through Concur, submit complete mileage documentation to OFA at uaf-travel-ofa@alaska.edu before July 12, 2022

For Fund 1 FY23 travel purchases such as lodging deposits for non-employees or registration fees that require purchasing before July 1 on a ProCard with approved waiver:

  • Reconcile in PaymentNet 4 to the UAF prepaid travel balance sheet using accounting 103010-no org-0446. In the notes section put the Request ID, "FY23 travel" and the correct accounting to be charged.
  • Email a copy of the purchase and the authorization to OFA at uaf-ofa-travel@alaska.edu  with the subject line “FY23 Prepaid Travel,” the Request ID and the traveler’s last name.
  • After June 30 and before July 31, the ProCard reconciler must prepare a JV to move amounts encumbered on 103010-no org-0446 to the correct funding source.

For FY22 local mileage reimbursements not processed through Concur, submit complete mileage documentation to OFA at uaf-travel-ofa@alaska.edu before July 12, 2022. Contact the Travel Customer Service Office (TCSO) for assistance with submitting local mileage reimbursements.


Encumbrances are no longer required for local mileage reimbursements. However, if you are still using general encumbrances for reimbursements on local mileage:

FY23 Local Mileage Encumbrances

  • Fund 3: Process as normal, keeping in mind that when a trip starts and finishes in the same fiscal year the date establishing the encumbrance in Banner should reflect that year's date.
  • Fund 1: If the trip is going to start before July 1 and complete before July 31, encumber the travel in this year (FY22) and the trip will be paid against FY22 money.
  • Fund 1: If the trip starts after July 1 (FY23), ensure that the transaction date of the encumbrance has a date of July 1, 2022.

Keep in mind that any FY22 open encumbrances on Fund 1 will become committed encumbrances in FY23. Make sure these encumbrances are correct by verifying account codes and dollar amounts. Release any FY22 encumbrances on Fund 1 if there will be no reimbursement paid to the traveler. This will prevent unnecessary encumbrances from becoming committed in FY23. 

 


Our staff are happy to answer questions and help navigate the year-end process.