All financial transactions are accounted for and reported on a fiscal year basis. This information will provide the schedule and FYE considerations.
For questions on this topic contact Accounting
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GL Transfer (XLS)
Accounting Periods
The College's tax and accounting period runs from June 1st through May 31st. The fiscal year name is determined by which calendar year May 31st falls in. The academic year consisting of a Fall 2023 semester and a Spring 2024 semester is FY24.
A fiscal year is further divided into accounting periods. Accounting periods are numbered starting with the first month of the fiscal year. Departmental financial information is updated daily but financial reports for a month end period are not final until transactions from internal service providers for the accounting period are processed. These include posting of transactions from transportation, pcard, telephone, dining, postage, printing, and college store. Accounting periods are typically closed by the 10th business day of the next calendar month with new CNAV reports usually available on the 11th business day.
| Transaction Date | Accounting Period | Final Month End CNAV Reports Available |
|---|---|---|
|
June 1-30, 20xx |
1 |
(A) |
|
July 1-31, 20xx |
2 |
(A) |
|
August 1-31, 20xx |
3 |
11th day of September |
|
September 1-30, 20xx |
4 |
11th day of October |
|
October 1-31, 20xx |
5 |
11th day of November |
|
November 1-30, 20xx |
6 |
11th day of December |
|
December 1-31, 20xx |
7 |
11th day of January |
|
January 1-31, 20xx |
8 |
11th day of February |
|
February 1-28, 20xx |
9 |
11th day of March |
|
March 1-31, 20xx |
10 |
11th day of April |
|
April 1-30, 20xx |
11 |
11th day of May |
|
May 1-31, 20xx |
12 |
11th day of June (B) |