To employees responsible for budget and financial management functions, fiscal year 2019-2020 is now closed in CFS (Common Financial System). The Finance Data Warehouse may be utilized to report on the full year of 2019-20 fiscal activity. All future transactions and budget transfers should be directed to the open fiscal year, 2020-21.
The following processes will be completed by July Month End Close:
Budget will be allocated to support the encumbrances that were outstanding on June 30, 2020 in funds 70000 (CSU Operating) and SSETF funds (70018, 70019, and 70020). Office of Budget Planning & Financial Management will consult with division budget officers in the event that encumbrance balances exceed departments’ available year end balance.
As a reminder, Fund 70000 (CSU Operating) salary budgets will be reverted to the Centralized Compensation Pool, which allocates budgets based on monthly payroll after the monthly Labor Cost Distribution process completes, similar to the monthly benefits budget allocation
Please contact your Office of Budget Planning & Financial Management team member should you have any questions. Thank you to everyone who contributed to a successful closing of 2019-20!