Financial Services Year-End Closing Guidelines 2013 – 2014

fiscal-year-end-1314-groveA message from Jackie Lasch, Assistant Vice President, Financial Services

As we approach the end of fiscal year 2013 – 2014, financial services would like to assist you in best utilizing your remaining funds. Although financial processes cannot stop because of fiscal year end, required cut-off dates are necessary to accurately record financial transactions in the proper fiscal year, in accordance with generally accepted accounting principles and audit guidelines.

Remember, if financial transactions are not fully completed by the cut-off dates that are listed in the Fiscal Year-End Closing Guidelines and Timeline memorandum, the expense or obligation will carry over to fiscal 2014 – 15 without additional funding. Funds that are not expended by fiscal year end are considered part of “fund balance.”

Click below to read the complete memorandum including all cut-off dates.

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