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FIN: Fiscal Year 2016 is now open!

NCSU sysnews - Fri, 07/03/2015 - 08:06
--- FOLLOWUP POST: 2015-07-03 08:06:16 ---

The following tasks are now complete:

1. Budget Balances for Capital Improvement funds - 07/03/2015. Complete

2. Budget Balances for Contracts & Grants (Ledger 5's) - 07/06/2015. Complete

--- FOLLOWUP POST: 2015-07-02 11:57:07 ---

The following tasks are now complete:

5. The initial Beginning Balances for all Ledgers for Fiscal Year 2016 - 7/2/2015. Please Note: June 2015 Month-End Close will have an impact on these balances and once the year end process has been finalized by the University Controller's Office, any permanent adjusting entries processed during year end close process could change the Beginning Balances. Complete

7. Salary Encumbrances for Contracts & Grants (Ledger 5's) - 07/06/2015. Complete

8. Fellowship Encumbrances - 07/06/2015. Complete

--- ORIGINAL POST: 2015-07-01 06:57:39 ---

The Financial System for Fiscal Year 2016 is open and new transactions can be entered. The Beginning Budget and Actual Balances on the Wolfpack Reporting System Reports will have zero dollar amounts until the carry forward process and/or current year transactions are posted in Financials.

Below are specific dates by which the Central Offices will complete the carry forward processes:

1. Budget Balances for Capital Improvement funds - 07/03/2015.

2. Budget Balances for Contracts & Grants (Ledger 5's) - 07/06/2015.

3. Budget Balances for State (Lower Ledger 2's and 3's, and all Ledger 4's), F&A (Upper Ledger 2's), and Auxiliary/Fee (Upper Ledger 3's) funds - 07/31/2015.

4. Budget Balances for Foundations (Ledger 6's) - 07/31/2015.

5. The initial Beginning Balances for all Ledgers for Fiscal Year 2016 - 7/2/2015. Please Note: June 2015 Month-End Close will have an impact on these balances and once the year end process has been finalized by the University Controller's Office, any permanent adjusting entries processed during year end close process could change the Beginning Balances.

6. Remaining purchase order encumbrance balances have been rolled to Fiscal Year 2016. Reconciliation will begin July 1st and will address any balance issues in Fiscal Year 2016 as they are identified. Please report any encumbrance issues to Monica O'Brien (phone number - 919.513.3416 and email - mlobrien@ncsu.edu) in the Purchasing Department for research and possible correction.

7. Salary Encumbrances for Contracts & Grants (Ledger 5's) - 07/06/2015.

8. Fellowship Encumbrances - 07/06/2015.
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