2024 Fiscal Year-End Closing Dates and Procedures
Sent: April 12, 2024 1:20 pmThe following fiscal year-end update is being sent to all business managers in the College of Arts & Sciences with a copy to finance staff.
Attached is the campus fiscal year-end deadline memo as well as a document with College specific year-end deadlines. Please note that some College deadlines are before the campus deadlines. This period is important to allow the Dean’s Office to balance the College’s overall budget and ensure that we (as a major campus unit) close the year properly. In particular, the College has set a deadline of June 14th for all journal entries. After that point, all journal entries (including basic entries like correcting journals) will route to the Dean’s Office for approval before posting. The Dean’s Office may approve some journal entries after 6/14 if they only affect trust or OSR funds, but approval is not guaranteed for any journals submitted after COB on June 14th.
To assist units with preparing for year-end, the Dean’s Office will be holding a training session to go over the year-end processes and helpful reports. The session will be on Wednesday, May 1st, from 10:30-11:30am and will be offered virtually via Zoom. All department managers and any staff with fiscal year-end responsibilities are encouraged to attend. A calendar invite will be sent to managers and finance staff next week.
For units served by the finance shared services team, please note that the first deadline is in two weeks on April 26th. Departments must have the paperwork to set up an Independent Contractor to receive payment in FY2024 submitted in RASR by the 4/26 deadline.
Please reach out to your department’s assigned budget analyst with any questions and refer to the attachments as you prepare for year-end in your unit.
| Division | Contact Name | |
| Fine Arts & Humanities | Charu Gunachandran | charu@live.unc.edu |
| Natural Sciences & Mathematics | Lindsay Gangl | lmgangl@unc.edu |
| Social Sciences & Global Programs | Heather Yousef | hyousef@unc.edu |
| Undergraduate Education | Katrina White | katrina_white@unc.edu |
Attachments: