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.
FY23 Key Date | Year-End Closing Process | |||
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May 26 |
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June 7 |
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June 12 |
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June 29 |
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June 30 |
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July 1 |
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July 3/4 |
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July 5 |
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July 6 |
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July 7 |
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July 9 |
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July 13 |
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July 13 |
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July 14 |
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July 15 |
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July 21 |
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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.
FY22 travel expenses require processing prior to the fiscal year rollover in order to hit FY22 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 FY23 travel prior to July 1, 2022 with no further action needed, as these charges are applied in the fiscal year in which the expense report is processed (FY23).
- All FY22 travel (start date prior to July 1, 2022) must have an expense report processed,
approved and submitted for payment by July 15, 2022.
- Concur expense reports processed after July 15 are charged to FY23 regardless of travel dates.
- In order to ensure meeting this processing deadline, we recommend submitting Concur expense reports before July 8, 2022.
- For local mileage reimbursements not processed through Concur, submit complete mileage documentation to OFA at uaf-travel-ofa@alaska.edu before July 12, 2022
For Fund 1 FY23 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, "FY23 travel" and the correct accounting to be charged.
- Email a copy of the purchase and the authorization to OFA at uaf-ofa-travel@alaska.edu with the subject line “FY23 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 FY22 local mileage reimbursements not processed through Concur, submit complete mileage documentation to OFA at uaf-travel-ofa@alaska.edu before July 12, 2022. 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:
FY23 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 (FY22) and the trip will be paid against FY22 money.
- Fund 1: If the trip starts after July 1 (FY23), ensure that the transaction date of the encumbrance has a date of July 1, 2022.
Keep in mind that any FY22 open encumbrances on Fund 1 will become committed encumbrances in FY23. Make sure these encumbrances are correct by verifying account codes and dollar amounts. Release any FY22 encumbrances on Fund 1 if there will be no reimbursement paid to the traveler. This will prevent unnecessary encumbrances from becoming committed in FY23.
Our staff are happy to answer questions and help navigate the year-end process.