Fiscal Year 2018-19 Close

To employees responsible for budget and financial management functions, fiscal year 2018-2019 is now closed in CFS (Common Financial System). The Finance Data Warehouse may be utilized to report on the full year of 2018-19 fiscal activity. All future transactions and budget transfers should be directed to the open fiscal year, 2019-20.

Budget

The following processes will be completed by July 24:

70000 Encumbrance Roll

  • Budget will be allocated to support the encumbrances that were outstanding on June 30, 2019 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 closing encumbrance balances exceeded departments’ balances available.

70000 Compensation Pool

  • As a reminder, Fund 70000 salary budgets were 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 2018-19!

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!