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Reminders for Prior and Current Fiscal Years

November 3, 2022

Campus colleagues,

Please review this important information about financial activities in the prior and current fiscal years. I encourage you to share this with your direct reports or those who might not have ready access to email.

Financial Report Review

The 2021-22 Fiscal Year and related financial activities have closed. As a reminder, campus users are not able to submit adjustments for revenues, expenditures or budget for activity from prior fiscal years. Any requests related to actuals and budget for prior-year activity will not be processed. If you have extenuating circumstances (e.g. grant-related activity), please submit supporting documentation to the Controller’s Office (actuals; email ) or to Financial Planning & Analysis (budget; use ) for review.

Please note that if an adjustment is approved, it will be processed in the current fiscal year and not reflected in the prior year’s financial records. Adjustments may impact the balance and budget availability for the current year. If an expenditure adjustment is processed in the current year on any funds that do not carry forward, the expenditures will be applied toward the current year’s budget allocation.

Approvals for expenditure adjustments in the current fiscal year do not imply approval to carry forward any prior-year funding.

Monthly Activity Review and Deadlines for Fiscal Year 2022-23

In preparation for the close of the fiscal year ending June 30, 2023, the following monthly review deadlines have been established to ensure timely review and submission of items and processes critical to closing the fiscal year. Carefully review these deadlines as they may impact school or departmental planning and differ from deadlines in previous years.

Each month, the Division of Finance and Administration will notify the campus community that month-end close processes have been completed. Campus users are required to complete a review of Oracle financial reports, including a review of both the budget and actual results for each area of financial ownership. Requests for corrections and/or questions should be submitted using the appropriate ServiceNow Ticket no later than the 25th day of the following month. All necessary support, including original transaction detail and the reason or the correction, must accompany each request.

Please note that DFA will provide a more robust year-end checklist after the winter curtailment.

Thank you,

Amanda Preston-Nelson | Associate Vice Chancellor and Controller