Fiscal Year 2014 Closing Guidelines

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Each year at this time, the Financial Services department begins planning the fiscal year-end closing process. To begin this process, budget managers should review their departmental budget reports. Corrections and questions should be submitted to Financial Services as soon as possible, so that adjustments may be included in the May financial reports. Please attach a copy of any report containing an error or question to an e-mail and send it to Sheri Kline at s.kline@tcu.edu. These guidelines apply to all units of TCU and Brite Divinity School. Other important dates and guidelines are listed below.

Calendar

May 31             Last day of 2013-2014 fiscal year

June 9              Estimated date for preliminary delivered reports for May

June 13            Last day to submit 2013-2014 travel or other expense reimbursement forms to Financial Services

June 20            Last day to submit departmental corrections for 2013-2014 fiscal year

June 30            Last day to submit 2013-2014 invoices to Financial Services

General Instructions

Charges to fiscal year 2014 budgets must be for goods and services received or for expenses incurred before June 1, 2014. Expenses for fiscal year 2015 may not be paid from 2013-2014 budgets, nor may fiscal year 2014 obligations be charged to fiscal year 2015. The Financial Services staff will review invoices submitted before and after May 31 for proper fiscal year determination.

Budget managers can run and review fiscal year financial reports via PeopleSoft at any time. Preliminary delivered financial reports should be available on June 9. Questions and/or corrections regarding those reports should be submitted to Financial Services by June 20. Additional adjustments to the preliminary reports may occur due to year-end closing procedures in the Financial Services department. However, please remember that Financial Services cannot make any corrections to fiscal year 2014 amounts after year-end closing.

If you have questions or if we may assist you with closing procedures, please e-mail Peg Meroney, Director of Financial Operations, or Alisa Cody, Director of Accounting.