Summit – Year End and New Fiscal Year

In July, prior to the close of the FY16 fiscal year, users may not see all of their Fiscal Year Fund Balance type funds (i.e. PI Overhead & Department Discretionary) in Summit. If the fund has not had any activity in FY17, the fund will not be listed on the Summary page in Summit. Once the initial close of FY16 is done on Friday, July 15th, the FY16 ending balances will be carried forward as the FY17 beginning fund balances and users will see all of their Fiscal Year Fund Balance type funds in Summit. 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 FY16 is done on Friday, July 15th. If the user changes the ‘Through Fiscal Period’ back to 2016-12 (Jun, 2016), the user will see all of their Fiscal Year Fund Balance type funds and the ending balance at June 30, 2016.