Fiscal Year End Closing 2018

Fiscal Year End Reminders:

July Reports– Prior to the close of the FY18 fiscal year on Friday, July 13, users may not see all of their Fiscal Year Fund Balance type funds (i.e., PI Overhead and Department Discretionary funds) in SUMMIT

o If the fund has not had any activity in FY19, the fund will not be listed on the Summary page in SUMMIT. Once the initial close of FY18 is done on Friday, July 13, the FY18 ending balances will be carried forward as the FY19 beginning fund balances, and users will see all of their Fiscal Year Fund Balance type funds in SUMMIT.
o If a user’s fund has had activity in July, the fund will be listed on the summary page in SUMMIT, but the beginning fund balance will be 0.00 until the initial close of FY18 is done on Friday, July 13.
o If a user changes the “Through Fiscal Period” filter back to 2018-12 (Jun, 2018), the user will see all of their Fiscal Year Fund Balance type funds and the ending balance at June 30, 2018.

For more details, please see the full memo at:https://www.uml.edu/Today/Submissions/2018/2018-06-01-16-44-20-FY-2018-Year-End-Close-Dates-and-Pr.aspx