Year-end Schedule
The University is prohibited from having a cash deficit at the end of the year. The year‐end expenditure process is managed to ensure all cash balances remain positive. The following schedule provides departments the opportunity to manage their budgets effectively and in a timely manner.
Note: Dates are subject to change to accommodate deadlines established by Virginia Department of Accounts.
Last Updated: April 21, 2025
Important Dates
| Date | Activity |
|---|---|
| March 31 Close of business |
Cut‐off for creating the base files for FY 26 budget implementation. Permanent budget reallocations after this date will not be included in FY 26 budget implementation |
| May 2 Close of business |
ARMICS certification deadline for VPHS |
| May 9 Close of business |
ARMICS certification deadline for Provost units |
| May 23 Close of business |
ARMICS certification deadline for Central units |
| June 18 Close of business |
Deadline for departments to enter PHAREDS adjustments |
| June 23 Close of business |
Final supplemental payroll, if needed, will be posted |
| June 24 4:00pm |
Final Bank of America Procurement Card transactions for fiscal year will be posted |
| June 24 Close of business |
Decentralized service center billing deadline – No additional FY 25 charges after this date |
| June 24 Close of business |
Last day for travel encumbrance to post |
| June 26 4:00 PM |
Last day to create new funds and orgs |
| June 27 5:00 PM |
RealSource access is removed for year-end processing |
| June 30 12:00 PM |
Cashier office closes for FY 25 |
| June 30 2:00 PM |
Transaction approval authority for Banner Finance users will be removed; inquiry access remains in place Note: Journal entries must be approved for the entries to post in FY 25 |
| July 1 | Banner Finance system will be available for inquiry only so that year‐end processing can be completed |
| July 1 | VP offices should forward significant current budget reallocation entries to the Controller’s Office at: finsecurity@vcu.edu |
| July 1 | VP offices should forward any additional request for current budget allocations to the VCU Budget Office for approval |
| July 2 | E‐print reports will be available |