Fiscal Year 2017-18 Close

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 Balance

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

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!

Fiscal Year 2016-17 Close

To employees responsible for budget and financial management functions, fiscal year 2016-17 is now closed in CFS (Common Financial System).  The Finance Data Warehouse may be utilized to report on the full year of 2016-17 fiscal activity.  All future transactional and budget activity should be directed to the open fiscal year, 2017-18.

For 2017-18, the Office of Budget & Financial Planning will be allocating budget to departments to support the encumbrances that were outstanding on June 30, 2017 in funds 70000 (CSU Operating); and SSETF funds (70018, 70019, and 70020).  These entries will be completed by Friday, July 21.

Fund balances on the actuals ledger will be available at the fund level  on July 21. Please note that for a specific listing of funds, CERF Funds (48xxx), Miscellaneous Trust (65183), and Auxiliary (78005 and 78006) Funds, fund balances will be posted at the division or department level.

During the coming fiscal year, the Office of Budget & Financial Planning will evaluate if and how the budget ledger may be leveraged to designate fund balance at the division and/or department level.

Thank you to everyone who contributed to a successful closing of 2016-17!

Fiscal Year 2015-16 Close

To employees responsible for department budget and financial management, fiscal year 2015-16 is now closed in CFS (Common Financial System); therefore there will be no more transactions or adjustments for that year. Complete fiscal year financial reports are finalized and now available in the Finance Data Warehouse.

All periods in fiscal year 2016-17 are now open. The Budget & Risk Management Office has transferred funds to departments for encumbrances that were outstanding on June 30, 2016 in funds 70000 (CSU Operating); and SSETF funds (70018, 70019, and 70020) will be completed by Monday, July 25.

Please note that fund balances will post to departments by Monday, July 25 for the following funds: CERF Funds (48xxx), Miscellaneous Trust (65183), Housing Operations (71000), Health Services (51000), ITS Projects (64006), MLK Special Projects (64009), and Cost Recovery – Auxiliary (78005 and 78006) Funds.

Another smooth year end close. Thanks to everyone who contributed to our success!