Tag Archives: Fiscal Year End

Fiscal Year 2024-2025 Close

To employees responsible for budget and financial management functions, fiscal year 2024-2025 is now closed in CFS (Common Financial System). The CFS Data Warehouse may be utilized to report on the full year of 2024-2025 fiscal activity. All future transactions and budget transfers will be directed to the open fiscal year, 2025-2026.

Thank you to everyone who contributed to a successful closing of 2024-2025!

Finance & Business Services – Friendly Reminders

As we are in the home stretch of Fiscal Year 2024-2025, your FABS team has some friendly reminders.

June Deadlines

June 6: Last day to submit Interagency Financial Transactions (IFT) to Accounting Services.

June 13:

  • Last day to approve HR Expense Adjustments in FTS.
    • This module will be turned off after this date and made available again on July 1. All adjustments requested after the deadline will require justification and approval from a division’s Finance Advisory Council representative. 
  • Last day to submit department chargebacks and billing requests to outside customers to Accounting Services.
  • Last date to submit Petty Cash reimbursements to the Bursar’s Office.

June 25:

  • Last day to approve Budget and Expense Journal Transfers in FTS.
  • Cash and check deposits must be submitted to the Bursar’s Office by noon.
    • Deposits received after this date will be processed in the next fiscal year.

Although the deadline for submitting purchase and payment requests for the current fiscal year has passed, FTS remains available for the submission of Requisitions, Direct Payments, Reimbursements, and Travel Authorizations/Travel Reimbursements. Please note that these expenses will be processed and charged to Fiscal Year 2025–26.

Refer to Fiscal Year End 2024-2025 Deadlines for details.

Please share this message with any staff or faculty you feel should be notified. Feel free to reach out to FinanceConnect with any questions at financeconnect@sjsu.edu.

 

 

 

Strategic Sourcing – Contracts & Procurement Services- Friendly Reminders

Your Strategic Sourcing team has a few friendly reminders to help you prepare for the Fiscal Year End!

May Deadlines

May 12th: Last day of GoCard billing cycle (May statement). Purchases posted to this cycle will go against the 2024-25 funds. Charges incurred after this day will be expensed in 2025-26 (June statement).

May 12th: Requisitions and PO Change Orders

  • Requisition for 24/25 FY must be fully approved in FTS by this date.
  • Blanket Orders & Service Orders for 24/25 FY must be fully approved in FTS by this date.
  • PO Change Order Requests for 24/25 FY must be approved by this date.

May 16th: Last day of ProCard billing cycle (May statement). Purchases posted to this cycle will go against the 2024-25 funds. Charges incurred after this day will be expensed in 2025-26 (June statement).

May 30th:

  • Employee Travel for 24/25 FY must be fully approved in FTS by this date.
  • Non-Employee Travel Reimbursement for 24/25 FY must be fully approved and submitted to Payment Services’ Travel Desk by this date.
  • Direct Payment & Employee Reimbursements for 24/25 FY must be fully approved in FTS by this date.
  • Final day to submit PO invoices for 24/25 FY in FTS e-Invoice.

Other:

  • Use the Header Comments field to provide extra details or instructions to Contracts & Procurement Services (for Requisitions) or Payment Services (for Vouchers).
    • Examples include delivery instructions or supplier contact information (name and email).
  • FTS requests must be approved in FTS by 5 p.m. on the due date to meet the deadline.

Submit your purchase requests now and avoid the crunch! Please plan – we are here to help if you have any questions.

Full list of 2024/25 FYE Deadlines

Please share this message with any staff or faculty you feel should be notified. Feel free to contact our Strategic Sourcing team for any questions at strategicsourcing-c-ps@sjsu.edu.

Wishing you all a great and successful month!