Operating Budget Year-End Closing Instructions
For instructions and deadlines for fiscal year-end close from the Controller’s Office, please go to the following link in Fingate:
The FY 16/17 year-end close process for the School of Humanities and Sciences has not changed from last year. At its most basic, the process is:
We use the H&S customized Year End Report as the tool to close the operating budget. H&S closes each project to zero.
1. BEG_BALANCE (Beginning Balance)
Finance moves the beginning balance to the appropriate projects in October. If the beginning balance is not 0.00, please request a correction.
Funding may be moved between operations accounts or to projects in other groups that are in deficit. Subject to budget savings decisions made by the Administrative Dean, surpluses in this group will be transferred to your budget savings fund. Note that your One-Time Account is included in this group.
3. GRAD_AID (Grad Aid, TA, Graduate Student Incidental, SGF, SIGF, and Diversity)
You may transfer funding between the first three projects and to Diversity, but never from Diversity. SGF and SIGF should already have zero balances. If there is a total deficit, you will need to fund it from appropriate departmental sources. Any net surplus will be moved to your Grad Aid Savings PTA.
The Undergrad Program project is settled separately from the Operations group because the funding source is the Stanford Fund. A surplus will be returned at year end to your AAMxx award where it will then carry forward as a fund balance each year. Deficits must be funded from departmental sources. The Provost’s Office strongly prefers that undergraduate funding is used in the year it is allocated.
Other non-base projects are settled individually with no transfers allowed between projects. Surplus departmental funding should be pulled back to the original source. Special arrangements must be made for surplus funding from non-departmental sources (such as the Dean’s Office, VPUE, or the Provost). Please indicate the funding source in Column O.
5. FAC_SALARY (Faculty Salaries)
The Dean’s Office guarantees funding for academic year faculty salaries for active faculty, funding shortfalls and pulling back surpluses at year-end. Please transfer non-salary expenses to an appropriate PTA. Please check those faculty on sabbatical are charged to the sabbatical account and faculty on other paid leave to their FZ or other faculty support account. Supplemental pay for the summer quarter cannot be charged to the Faculty Salary project.