Year-end schedule

The University is prohibited from having a cash deficit at the end of the year. Therefore, the year‐end expenditure process is managed to ensure that all cash balances remain positive.  To accomplish this and provide departments the opportunity to manage their budgets more effectively the following schedule is established.   

Note: Dates are subject to change to accommodate deadlines established by Virginia Department of Accounts.

END-OF-YEAR SCHEDULE

DateEvent
March 31 Close of business Cut‐off for creating the base files for FY 23 budget implementation. Permanent budget reallocations after this date will not be included in FY 23 budget implementation.

May 13 Close of business

ARMICS certification deadline for VPHS and Provosts units

May 27 Close of business

ARMICS certification deadline for Central units

June 10  4:30 PM

Invoices submitted to Accounts Payable after this time are at risk of not being processed in FY 22
June 21 Close of business Deadline for departments to enter PHAREDS adjustments
June 22 5:00 PM Last day to create new funds and orgs
June 22 Close of business Final supplemental payroll, if needed, will be posted
June 23 Close of business Final Bank of America Procurement Card transactions for fiscal year will be posted
June 24 Close of business Last day for travel encumbrances to post 
June 24 Close of business Decentralized service center billing deadline – No additional FY 22 charges after this date
June 24 Close of business Deadline to process changes to purchase orders in RealSource
June 24 5:00 PM Deadline to create FY 22 purchase orders (POs) in RealSource;
Note: As time permits, POs and invoices with 3‐way match will process for payment through 1:00pm on June 30
June 30 12:00 PM Cashier closes for FY 22
June 30   3:00 PM Transaction approval authority for Banner Finance users will be removed at 3:00 PM; inquiry access remains in place.  
Note: Journal entries must be approved for the entries to post in FY 22
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 2 VP Offices should forward any additional request for current budget allocations to the VCU Budget Office for approval
July 6 E‐print reports will be available