Written by Arianna Williams.
The Fiscal Year 2025 close-out schedule is now available. This important schedule of fiscal year end events will be critical for departments who, at this time of the year, will be preparing for the end of the university’s accounting period. This is important for accurate financial reporting, compliance and strategic planning. Accurate fiscal year end reporting ensures university financial integrity by reviewing records, reconciling balances and preparing for audits, thus reducing the risk of misstatements.
Evaluate your Budgets
Evaluating budget performance during this time is crucial. It offers insights into spending patterns, helping with future financial planning and ensuring compliance with university spending policies and procedures. Also, analyzing financial trends during this process helps identify growth areas, adjust budgets and create strategies for improvements. Clear communication with departments is vital for transparency and alignment with university goals.
A well-organized approach to year-end closeout sets the stage for a successful new year, streamlining operations and positioning the departments for sustainability. Preparing early in key areas ensures a smooth transition into the next fiscal year.
Fiscal Year-End Reminders
Journal Vouchers
- Campus vouchers must be entered and approved at all levels by 5 p.m. on June 13 for June processing.
- The last date to approve and route journal vouchers to the University Controller’s Office correcting equipment transactions with voucher dates July 1, 2024 – May 31, 2025 is on June 24.
- The last day to approve online journal vouchers is June 30, 2025 by 3 p.m.
Travel Reimbursements
Travel reimbursements must be uploaded and approved at all levels by 5 p.m. on June 13 for June processing.
Imprest Account Reimbursement
Reimbursement requests for imprest checking and petty cash accounts must be approved and received by the University Controller’s Office with proper documentation by June 23 for June processing.
Interdepartmental Transactions
The last day to approve and route interdepartmental transactions, sales entries and journal entries to the University Controller’s Office with proper documentation is June 24 for June processing.
Deposits
All non-student account receivable checks must be received in the University Controller’s Office, Accounts Receivable by 10 a.m. on June 30 for June processing.
Accounts Payable
The last day to authorize accounts payable express checks for June is June 24. The last accounts payable check writing for June is June 25.
For questions or concerns, please contact the University Controller’s Office at university-controllers@ncsu.edu.