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Information for 2022 Fiscal Year-End Closing Period

May 9, 2022

FROM: Olga Weider, Assistant Vice President and University Controller

SUBJECT: Information for 2022 Fiscal Year-End Closing Period

The 2021-22 fiscal year ends on June 30, 2022, and the scheduled date for closing the General Ledger for the 2021 fiscal year is July 13, 2022.

Each year, a schedule of fiscal-related deadlines associated with this period is provided to help guide everyone’s efforts. This schedule, along with accompanying resources to support year-end processes may be found at https://www.fa.ufl.edu/directives/fiscal-year-end-schedule-and-resources/. Supplementary information, including videos, links to resources, and downloadable calendar reminders, are available on this page.

Year-end closing requires coordinated efforts to ensure all financial activities are accurately recorded. All departments should review and reconcile their ledgers, verifying that all invoices, travel expenses, and payroll transactions pertaining to the 2022 fiscal year have been recorded accurately and all corrections have been posted. Before closing, departments and units should also ensure the accuracy of any outstanding encumbrances (purchase orders and travel authorizations) for the year so that budget balances for state funds can be accurately carried forward.

During the month of June, please use the prompted department financial reports in Enterprise Analytics. If there are transactions that are not reflected, or are incorrect, please take the necessary action by the specified deadline to ensure they are posted correctly to the ledger. Actions to be taken may include budget transfers, expense transfers, payroll corrections, and deposit corrections.

If you have questions about any of the processes associated with the year-end closing period, please contact the associated office listed on our website.

Published: May 18th, 2022

Category: News