The fiscal year-end for Stanford is August 31st. There are transaction processing deadlines in August and fiscal year-end activities that extend into mid-September. The fiscal year-end close activities include expenditure transactions and fund transfers associated with outstanding commitments, sponsored project cost sharing, the resolution of account deficits, the close-out of H&S operating budgets, and appropriate fund management best practices.
Perform final reconciliation of expenditures.
Ensure all payments associated with contractual obligations are complete
Ensure restricted funds are spent according to their fund authorization