Year-end schedule
The University is prohibited from having a cash deficit at the end of the year. Therefore, the year‐end expenditure process is managed to ensure that all cash balances remain positive. To accomplish this and provide departments the opportunity to manage their budgets more effectively the following schedule is established.
Note: Dates are subject to change to accommodate deadlines established by Virginia Department of Accounts.
END-OF-YEAR SCHEDULE
| Date | Event |
|---|---|
| March 31 Close of business | Cut‐off for creating the base files for FY 24 budget implementation. Permanent budget reallocations after this date will not be included in FY 24 budget implementation. |
|
May 5 Close of business |
ARMICS certification deadline for VPHS and Provosts units |
|
May 26 Close of business |
ARMICS certification deadline for Central units |
|
June 9 4:30 PM |
Invoices submitted to Accounts Payable after this time are at risk of not being processed in FY 23 |
| June 21 Close of business | Deadline for departments to enter PHAREDS adjustments |
| June 22 5:00 PM | Last day to create new funds and orgs |
| June 23 Close of business | Final supplemental payroll, if needed, will be posted |
| June 23 Close of business | Final Bank of America Procurement Card transactions for fiscal year will be posted |
| June 26 4:00 PM | Decentralized service center billing deadline – No additional FY 23 charges after this date |
| June 26 Close of business | Last day for travel encumbrances to post |
| June 29 Close of business | Deadline to process changes to purchase orders in RealSource |
| June 29 5:00 PM | Deadline to create FY 23 purchase orders (POs) in RealSource; Note: As time permits, POs and invoices with 3‐way match will process for payment through 10:00 AM on June 30 |
| June 30 12:00 PM | Cashier closes for FY 23 |
| June 30 12:00 PM | Transaction approval authority for Banner Finance users will be removed at 12:00 PM; inquiry access remains in place. Note: Journal entries must be approved for the entries to post in FY 23 |
| July 3 | Banner Finance system will be available for inquiry only so that year‐end processing can be completed |
| July 3 | VP offices should forward significant current budget reallocation entries to the Controller’s Office at: finsecurity@vcu.edu |
| July 3 | VP Offices should forward any additional request for current budget allocations to the VCU Budget Office for approval |
| July 6 | E‐print reports will be available |