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 14
  • FY22 Recharge Center rate proposals due to OFA
June 04
  • Last day for FY21 committed (commit type “C”) encumbrance transactions, including deletes, to AP (including travel encumbrances) by 5:00 PM
  • Last date to submit FY21 Budget Revisions for all funds to OFA
  • FY22 Continuation Budget due to OFA
  • Last date for position attribute changes in Banner
June 12
  • Dates of physical inventory and inventory instructions due to OFA
  • Submit all FY21 petty cash receipts for reimbursement (petty cash activity that occurs after this date may process as FY21 until June 30)
June 18
  • Last day for any changes to PCNs
June 23
  • FINAL Calendar Year 2020 Labor Reallocation Run (R15-27) - Runs at 1:00 PM
June 29
  • FINAL Calendar Year 2021 Labor Reallocation (R01-R13) at FY21 Staff Benefit Rates
June 30
  • Last day for match revenue transfers for FY21
    • 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 4:00 PM with Business Office
    Close all cashier sessions by 6:00 PM
  • Last date for issuing and delivering FY21 checks (non-payroll)
  • Date goods or services must be received or invoiced to be FY21 accounts payable
  • List undelivered checks
  • Physical inventory cutoff date
  • Record last check number used (AP, hand pay & PR)
  • FY21 fiscal year ends
July 02
  • Position (PCN) attribute adjustments resume
  • Units with inventories must submit inventory lists (with copies of count sheets), associated inventory reconciliation and JVs to OFA
  • FY21 JVs submitted to OFA by this date are guaranteed to post to FY21
  • After this date and until July 14, JVs are posted to FY21 only if time permits
July 05-06
  • Holiday
July 07
  • FINAL R12 Labor Reallocation at FY21 Staff Benefit Rates (runs at 1:00 PM)
July 09
  • Last day for electronic file feeds from Geophysical Institute and Facilities Services subsystems by 12:00 PM
July 10
  • R14 payroll period posts to Banner
July 13
  • MUST submit FY21 unrestricted travel expense reports in Concur
July 14
  • Last day for FY21 encumbrance transactions, including deletes, by 3:00 PM
  • Last day AP canceled checks are reissued
July 15
  • ONLY FY21 R14 Labor Reallocation (June 21-30) at FY21 Staff Benefit Rates (runs at 1:00 PM)
July 16
  • Detail of debit fund balances (deficits) on restricted/event funds and JV to record
  • Deadline for entering/tagging FY21 fixed asset equipment
  • OFA closes at 12:00 PM
July 17
  • General Ledger Roll
  • Encumbrance Roll
  • Budget Roll
July 21
  • 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.

FY21 travel expenses require processing prior to the fiscal year rollover in order to hit FY21 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 FY22 travel prior to July 1, 2021 with no further action needed, as these charges are applied in the fiscal year in which the expense report is processed (FY22).
  • All FY21 travel (start date prior to July 1, 2021) must have an expense report processed, approved and submitted for payment by July 16, 2021.
    • Concur expense reports processed after July 16 are charged to FY22 regardless of travel dates.
    • In order to ensure meeting this processing deadline, we recommend submitting Concur expense reports before July 14, 2021.
  • For local mileage reimbursements not processed through Concur, submit complete mileage documentation to OFA at uaf-travel-ofa@alaska.edu before July 14, 2021

For Fund 1 FY22 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, "FY22 travel" and the correct accounting to be charged.
  • Email a copy of the purchase and the authorization to OFA at uaf-ofa-travel@alaska.eduwith the subject line “FY22 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 FY21 local mileage reimbursements not processed through Concur, submit complete mileage documentation to OFA at uaf-travel-ofa@alaska.edu before July 14, 2021. 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:

FY22 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 (FY21) and the trip will be paid against FY21 money.
  • Fund 1: If the trip starts after July 1 (FY22), ensure that the transaction date of the encumbrance has a date of July 1, 2021.

Keep in mind that any FY21 open encumbrances on Fund 1 will become committed encumbrances in FY22. Make sure these encumbrances are correct by verifying account codes and dollar amounts. Release any FY21 encumbrances on Fund 1 if there will be no reimbursement paid to the traveler. This will prevent unnecessary encumbrances from becoming committed in FY22.

 

Downloadable PDF: Year-End Travel Instructions


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