To All Fiscal Agents:
As the community prepares for the conclusion of the academic year, it must also prepare for the close of the fiscal year. The fiscal year begins on July 1 and ends on June 30. There are certain procedures that must be followed by the Finance Division in order to properly close the financial records for 2011. These procedures, for the most part, are mandated by Generally Accepted Accounting Principles (GAAP) which are promulgated by the Financial Accounting Standards Board (FASB) and the Government Accounting Standard Board (GASB). In order to meet these guidelines, careful planning is required. It is important to meet the attached deadlines in order to ascertain that charges are properly charged in the appropriate fiscal year.
Please view the schedule: