1. FY2019 Closing

2. What is Closing? Purpose: F&A Expectations: BA Expectations:
Closing is the process to finalize all financial activity for the current year
Closing allows for accurate financial reporting & budgeting within fiscal years
F&A Expectations:
Provide accurate and timely information within the Closing Reports
Review Closing reports and follow up on any issues identified
Review all supporting documents for accrual and prepaid expenses
Continue monitoring through year-end to ensure proper recording of expenses and revenue
BA Expectations:
Timely completion of Closing Reports
Processing of transactions & entries in connection with Closing timeline
Provide information & support for accrual and prepaid expenses
Continue to review through July 8th to ensure items identified as accruals have not been posted
Ensure restricted funds (including endowed chairs) have been spent appropriately (or maximized for salary) and balance is accurate

3. Key Dates to Remember Closing Reports Closing Workshop & Training:
Round 1 Distributed Thursday, May 16th – Complete by Friday, May 31st
Round 2 Distributed by Monday, June 10th – Complete by Friday, June 21st
Closing Workshop & Training:
Monday, May 20th – Huntsman Hall F75, 10:30am – 12pm
All are welcome to attend – New BAs highly encouraged to attend
Accrual & Prepaid Detail & Support:
Submit by Monday, June 24th with all accompanying support
Please continue to monitor the General Ledgers for expenses you have accrued so that we do not double book
Payroll Reallocations:
Deadline to complete – Monday, June 24th
Endowments:
All requests sent to: by Friday, May 24th
Please include fund number, Resp Org, Fund Name and amount to be reinvested/liquidated