To employees responsible for budget and financial management functions, fiscal year 2017-18 is now closed in CFS (Common Financial System). The Finance Data Warehouse may be utilized to report on the full year of 2017-18 fiscal activity. All future transactions and budget transfers should be directed to the open fiscal year, 2018-19.
Fund balances on the actuals ledger will be available at the fund level by July 23. Please note that for a specific listing of funds, CERF Funds (48xxx), Miscellaneous Trust (65183), and Auxiliary (78005 and 78006) Funds, fund balance will be posted at the division or department level.
Budget will be allocated to support the encumbrances that were outstanding on June 30, 2018 in funds 70000 (CSU Operating); and SSETF funds (70018, 70019, and 70020). These entries will be completed by July 24. The Office of Budget Planning & Financial Management will consult with division budget officers in the event that closing encumbrance balances exceeded departments’ balances available.
The annual review and reconciliation between position listing reports and salary budgets for CSU Operating fund 70000 is currently underway. Once finalized, 2018-19 salary budgets for CSU Operating fund 70000 will revert to the Centralized Compensation Pool and budget will be allocated to departments each month to match payroll expenditures, similar to the monthly benefits budget allocation. A separate announcement will be shared as the budgets revert to the Centralized Compensation Pool.
Thank you to everyone who contributed to a successful closing of 2017-18!