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.

Contact us

Banner Finance helpline
(804) 828‐0388

Email: finsecurity@vcu.edu

END-OF-YEAR SCHEDULE

DateEvent
March 31 Close of businessCut‐off for creating the base files for FY 21 budget implementation. Permanent budget reallocations after this date will not be included in FY 22 budget implementation.

May 14 Close of business

ARMICS certification deadline for VPHS and Provosts units

May 28 Close of business

ARMICS certification deadline for Central units

June 16  4:30 PM

Invoices submitted to Accounts Payable after this time are at risk of not being processed in FY 21
June 17  3:00 PMLast day to create new funds and orgs
June 23 Close of businessDeadline for departments to enter PHAREDS adjustments
June 24 Close of businessFinal supplemental payroll, if needed, will be posted
June 24 Close of businessLast day for travel encumbrances to post 
June 24 Close of businessDecentralized service center billing deadline – No additional FY 21 charges after this date
June 24 Close of businessBank of America Works P-Card transactions for May 15 through June 15 will be posted
June 25 Close of businessDeadline to process changes to purchase orders in RealSource
June 25 5:00 PMDeadline to create FY 21 purchase orders (PO’s) in RealSource;
Note: As time permits, PO’s and invoices with 3‐way match will process for payment through 1:00pm on June 30
June 30 12:00 PMCashier closes for FY 21
June 30   3:00 PMTransaction 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 21
July 1Banner Finance system will be available for inquiry only so that year‐end processing can be completed
July 1VP offices should forward significant current budget reallocation entries to the Controller’s Office at: finsecurity@vcu.edu
July 2VP Offices should forward any additional request for current budget allocations to the VCU Budget Office for approval
July 6E‐print reports will be available
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