Year-End Carryforward Details Available from Accounting Services - 07/14/09

The Accounting Services office has released its summary for the 2009-10 year-end carryforward applicable to all University funds. The summary includes information concerning positive or negative balances for budgeted and nonbudgeted funds, earmarked-funds reservations and commitments.

The summary for year-end carryforwards document is accessible on the Accounting Services Web site.

With regard to the year-end carryforward, Accounting Services also advises:

Salary and Wage Payable Accounts. Staff may find an amount listed on their salary and wage payable accounts for payroll charges due in June but payable in July. The charges will be reversed in July, when the payroll is actually paid, and those month-end transactions will have a posting date of the first day of the month.

Year-end Close Periods. Two similar updates (6/31 and 6/32) will be available for departments to bring their FY (fiscal year) 2009 books up to date. Necessary documents must be in the JV (journal voucher) upload format and with an indication that they are for FY 2009. These updates were tentatively scheduled for July 13 and July 21. Until the second close is complete, departments’ beginning balances for July may change.

Operating Periods. Departments should run their reports for the prior fiscal year on periods 0-12. Accounting Services will utilize periods 13-16 for financial report entries. Staff who run reports using periods 13-16 may obtain inaccurate departmental information.

For more information about year-end carryforwards, please contact Kay Parker or Stacy Umlauf at