1. Fiscal Year-End Close Review
FY18

2. Year-End Close Considerations
What is my year-end position for all department and faculty controlled accounts?
Do I expect additional transfers in or out of my accounts?
Have I used department controlled funding that is appropriate for the expenditures?
Will I have deficits to fund or surpluses to pull back?

3. Year-End Close Expenditure Processing
Ensure that expenditure transactions for the fiscal year are posted and posted correctly to your accounts.
Be aware of transaction processing deadlines
Make any necessary expenditure corrections via ijournal or labor distribution adjustment

4. Year-End Close Expenditure Processing
Key deadlines for expenditure processing:
Monday, Aug 13, 5pm
AP invoice, Expense Request, and Travel Card
Wednesday, Aug 15, 3pm
Org suspense LDAs for pay periods thru 7/31/18
Friday, Aug 24, 4pm
PCard approval

5. Year-End Close Expenditure Processing
Key deadlines for expenditure processing:
Thursday, Sep 6, 3pm
Labor Distribution Adjustments
Thursday, Sep 6, 5pm
iJournal Public approval
Detailed calendars of the University fiscal year-end close dates are available on Fingate:

6. Year-End Close Fund Transfers
Ensure that there is sufficient funding to cover your fiscal year expenditures.
Estimate your year-end final expenditures
Request the transfer of outstanding funding commitments
Confirm that department controlled restricted funding is appropriate for the expenditures

7. Year-End Close Fund Transfers
Key dates and deadlines for fund transfers:
Monday, Aug 20, 5pm
1) HandSOn commitment reports posted to the Repository
2) Provide your liaison with cost-share funding amounts and sources for non-academic salary expenditures
3) Provide your liaison with faculty salary savings confirmation, revisions, and distribution instructions (depts only)
Monday, Aug 27, 5pm
Provide your liaison with HandSOn commitment instructions to
process or hold transfers

8. Year-End Close Fund Transfers
Key dates and deadlines for fund transfers:
Tuesday, Sep 4, 5pm
Upload to the Repository your annotated OB and Non-OB reports with year-end close instructions
Friday, Sep 7, 5pm
1) If necessary, upload to the Repository your annotated OB and Non-OB reports with revised year-end close instructions
2) Provide your liaison with your OB savings request narrative

9. Year-End Close Fund Transfers
Key dates and deadlines for fund transfers:
Monday, Sep 10, 5pm
Provide your liaison with endowment capitalization and income exception instructions

10. Allowable Fund Transfers

11. HandSOn Commitment Review
HandSOn commitment reports will be posted to the Repository by Monday, Aug 20, 5pm.
Download the report from your Non Salary View/ Funding Commitments folder.
Review and annotate your report with transfer instructions.
Upload your annotated report to your WIP folder by Monday, Aug 27, 5pm.

12. Cost-Share Funding
Fund transfers for cost-share accounts should be made by your liaison and not OSR.
Your liaison may contact you with a report for your review and instructions, otherwise,
Login to the Revenue and Fund Management Reporting dashboard in OBI.
Run a Fund Statement report for your Organization using the most recent Fiscal Year To Date.

13. Cost-Share Funding Using the SU Fund Statement Summary:
Subtotal by Award Number
Scroll down to your cost-share awards (WAxxx)
For those with Available Balance deficits, drill down on Expense Amount to identify expenditures that are not academic salary and benefits
Provide your liaison with funding amounts and sources for non-academic salary expenditures by exporting the report, adding your instructions, and uploading your annotated report to your WIP folder by Monday, Aug 20, 5pm.

14. Faculty Salary Savings (departments only)
H&S has a policy to provide faculty and departments with all or a portion of faculty academic salary savings due to direct salary charges to grants and contracts.
Login to the H&S Financial Dashboard in OBI.
Run the Faculty Salary G&C Savings report for your Position Org Name using the most recent GL Period Fiscal Year.

15. Faculty Salary Savings (departments only)
Verify salary savings, export the report, and annotate your report with any corrections, projections, and transfer instructions.
Upload your annotated report to your WIP folder by Monday, Aug 20, 5pm.

16. Resolve Non-Operating Budget Overdrafts
Designated, expendable gift, endowment, and university research funds should end the fiscal year with a balance ≥ $0.
These funds may end the fiscal year with a deficit of < $1,000.
Cost-share accounts must be fully funded.
Sponsored Project award balances (awards beginning with P-V) are not reviewed as part of this year-end balance analysis.

17. Resolve Non-Operating Budget Overdrafts
Deficits in your Non-OB accounts may be due to:
Dean’s Office or President/Provost fund transfers have not yet been made
Incorrect expenses or over-expended funding
Too much funding transferred to support your Operating Budget
Infrastructure charges on fund transfers

18. Resolve Non-Operating Budget Overdrafts
Corrective actions may include:
Transferring incorrect or excess expenditures using LDA by 3pm or iJournals by 5pm, Thursday, Sep 6
Pulling back Operating Budget support and including this information in your Non-OB and OB close instructions due Tuesday, Sep 4, 5pm
Request a fund transfer from an appropriate source to cover the deficit by including this information in your Non-OB funding instructions due Tuesday, Sep 4

19. Resolve Non-Operating Budget Overdrafts
Login to the H&S Financial Dashboard in OBI.
Run a Non-OB report for your Organization using the most recent GL Period.
Provide your liaison with funding amounts and sources to resolve deficits by exporting the report, adding your instructions, and uploading your annotated report to your WIP folder by Tuesday, Sep 4, 5pm.

20. Resolve Non-Operating Budget Overdrafts
Following the Soft Close on Thursday, Sep 6:
1) Run the Non-OB report
2) Validate your instructions
3) Only if there are significant changes, export the report, add your revised instructions, and upload your annotated report to your WIP folder by Friday, Sep 7, 5pm
Remember to factor in applicable 8% infrastructure charges (ISC).

21. Operating Budget Close
During fiscal year-end close we are matching funding by project to expenditures by project to balance operating budget projects to $0.
Non graduate aid funding allocation provided by HSDO is available to support expenditures in all OB PTAs.

22. Operating Budget Close
Graduate aid funding allocation provided by HSDO can only be used to support expenditures in Grad Aid OB PTAs.
Diversity funding allocation and expenditures will be reviewed by GUS.
Surpluses will be pulled back to HSDO
Deficits may be funded by an additional allocation or may require department funding

23. Operating Budget Close
Login to the H&S Financial Dashboard in OBI.
Run a OB report for your Organization using the most recent GL Period.
Provide your liaison with funding amounts and sources to resolve deficits and pullback amounts for unexpended restricted funds by exporting the report, adding your instructions, and uploading your annotated report to your WIP folder by Tuesday, Sep 4, 5pm.

24. Operating Budget Close
Following the Soft Close on Thursday, Sep 6:
1) Run the OB report
2) Validate your instructions
3) Only if there are significant changes, export the report, add your revised instructions, and upload your annotated report to your WIP folder by Friday, Sep 7, 5pm
Remember to factor in applicable 8% infrastructure charges (ISC).

25. Budget Savings
Graduate aid surplus will be transferred to your Grad Aid Savings account.
Non graduate aid surplus will be reviewed by HSDO and, based on the YE close information, department/program reserves, and your narrative, all or a portion may be pulled back to HSDO or transferred to your Budget Savings account.
Your liaison will work with you to complete the required forms to request applicable budget savings
Submit your budget savings request narrative no later than Friday, Sep 7, 5pm

26. Finance Web Site and Repository
The H&S Finance web site has reports, policies, procedures, training, and calendar information for year-end close.
Instructions for using the Repository to access and upload reports and other documents is available on the H&S Finance web site.

27. Finance Web Site and Repository

28. Finance Web Site Quick Links

29. Finance Web Site Calendar

30. H&S Financial Dashboard
The H&S Financial Dashboard is a suite of on-demand, customized OBI reports to support your annual business processes, including year-end close.

31. H&S Financial Dashboard

32. Fiscal Year-End Close Review