Preparing for FY24 Year End
In preparation for the close of the fiscal year ending June 30, 2024, UC Merced Financial & Accounting Services has established the following deadlines to ensure timely review and submission of items and processes critical to closing the fiscal year.
Review these deadlines carefully as they may have an impact on departmental planning and differ from those in previous years. It is essential that departments supply the necessary information outlined below by close of business (5 p.m.) on each of the specified deadlines. Please note: Dates are subject to change depending on other systemwide deadlines.
| ✔️ Outgoing Requests for Interlocation Transfer of Funds (ITF). | |
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✔️ Requests for new chart string segments for FY2024. ✔️ Final day to enter Purchase Requisitions for equipment, services and supplies for FY 2024. Please note that all equipment services and supplies must be received and invoiced by June 28, 2024, to use FY 2024 budget. |
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| Tuesday, June 4, 2024 |
✔️Final day to issue all Non-Catalog Purchase Orders. Please note that all goods and services must be received and invoiced by June 28, 2024, to use FY 2024 budget. |
| Wednesday, June 5, 2024 |
✔️Payroll Monthly Pay Period (subject to change). ✔️Payroll Expenditure Transfers (Direct Retros) – last date for UC Merced Payroll Services to receive expense transfers for processing into FY 2024. |
| Friday, June 7, 2024 |
✔️Payroll Bi-Weekly Pay Period (subject to change). ✔️ May Budget File and Staffing List due to UCOP. |
| Friday, June 14, 2024 |
✔️Procurement Card Transactions (including all Gift Card Purchases) – all receipts are to be submitted no later than June 14. All Procurement Card transactions must be fully reconciled, approved and paid by June 28, 2024. ✔️Final day to enter Travel and Reimbursement Transactions in Concur. ✔️Final day to place catalog orders – all goods and services must be received and invoiced by June 28, 2024. ✔️Oracle and Concur system approvals must be completed. |
| Thursday, June 20, 2024 |
✔️Final day to receive Accounts Payable invoices for guaranteed processing in FY 2024. ✔️Submit service requests to AP: Invoice Hold Resolutions/Payment Requests/Wire Requests/Petty Cash Reimbursements. |
| Friday, June 21, 2024 |
✔️All adjustments for Cashiering for previously posted transactions. |
| Friday, June 28, 2024 |
✔️All Cash/Checks/Credit Card receipts to be deposited in Cashiering ✔️Gift Card and Distribution listing ✔️Intercampus Recharge Request/Intercampus Request for Reimbursement ✔️IOC Recharges/IRR claims between campus locations (Tentative dates) |
| Wednesday, July 3, 2024 |
✔️UC Merced Foundation Monetary Transfer |
| Monday, July 8, 2024 |
✔️Cost Transfers (AP) |
| Friday, July 12, 2024 |
✔️Recharges (both PPM & Non-PPM). ✔️Financial Journals/Cost Transfer/Adjustment Requests (GL & PPM). ✔️June Budget File and Staffing List due to UCOP. |
| Friday, July 19, 2024 |
Fiscal year-end Accruals: ✔️Accrue expense for goods received on campus or services completed by 6/30/2024 but not recorded in ledger (Non-PPM Only). ✔️Provide Financial and Accounting Services documentation requesting approval to accrue expenses, documentation (invoice/receiving) showing received date or date of services and chart string to be charged. |
| Wednesday, July 31, 2024 |
✔️Budget Transfers and Adjustments |
| Post-FYE Close | ✔️Carry-Forward Fund requests are due to Financial Planning & Analysis two weeks post-final close. Notification will be sent once fiscal year is closed. |
Please note:
- Late transactions or documents received after the deadlines listed above may not be processed by June 28, 2024, and therefore could be charged to Fiscal Year 24/25 budgets.
- All goods or services must be received and invoiced by June 28 to be accounted for in FY23/24. The creation of a purchase order only does not guarantee funds will be available if expenses are invoiced in FY24/25. Please be sure to follow the applicable UC Merced accrual and carry-forward processes for expenses that need to be accounted for in the upcoming fiscal year.
- All items submitted to the campus shared services department should be submitted five days before the cutoff dates above to ensure deadlines are met.
- All journal entry requests received in the department by the deadlines above will be processed in FY23/24.
- Reminders of these deadlines will be sent to UC Merced financial staff and stakeholders at least two weeks before each deadline. If you have questions about FY24 close, please email the Financial & Accounting Services team at accounting@ucmerced.edu.
