Fiscal Year Accounting

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

To Related Forms

GL Transfer (PDF)

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 2019 semester and a Spring 2020 semester is FY20.

FY 2021 Year End Memo (PDF)

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)

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

To Related Forms

GL Transfer (PDF)

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 2019 semester and a Spring 2020 semester is FY20.

FY 2021 Year End Memo (PDF)

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)