Year-End Closing Schedule

Pre-Closing

Monday, June 6 Generation of the following reports:
  1. General Funds Budget Reversion Report by RC
  2. Outstanding Orders by RC
  3. Negative Cash Balances for 20-66 Accounts
  4. Prior Year Report of June Activity by RC
  5. General Ledger—FMS Only
  6. General Fund Balance Sheet
Thursday, June 30 Last day for billing and encumbrance transactions

First Closing

Monday, July 4

Indiana University recognizes Independence Day

Tuesday, July 5

Cut-off for Fiscal Year 2016: AP Invoices that were received on or before July 5 and dated on or before June 30, 2016.

Wednesday, July 6

First closing at 5 P.M. Entries submitted to FMS for posting due in by noon.

CAMS Processing of GECs for Fiscal Year 2016 AP invoices

Thursday, July 7

Publish the First Closing Standard Reports

Campuses/Central Administration generate the following Closing reports:

  1. General Funds Budget Reversion Report by RC
  2. Outstanding Orders by RC
  3. Negative Cash Balance Listing for 20-66 Accounts
  4. Positive Cash Balance Listing for 20-66 Accounts
  5. Summary of General Fund Income by RC
  6. First Day Standard Reports to all Accounts (Budget, ICR, & Inactive Reports Not Printed at First Closing)
  7. Fund Statement
  8. General Ledger—FMS Only
  9. General Fund Balance Sheet

Run June Depreciation (batch process sets create date for assets created from July 1 through July 7 to June 30, 2016) – Run beginning of batch

Second Closing

Wednesday, July 13

Second closing at 5 P.M. (excluding Auxiliaries)

Last day for 68 Clearing Account Entries

Thursday, July 14

Campuses/Central Administration generate the following Closing reports:

  1. General Funds Budget Reversion Report by RC
  2. Listing of Transactions Posted After First Closing
  3. Negative Cash Balances for 20-66 Accounts
  4. Positive Cash Balances for 20-66 Accounts
  5. Fund Statement
  6. General Ledger–FMS Only
  7. General Fund Balance Sheet
Saturday, July 16 NACUBO Annual conference begins in Montreal

Final Closing

Monday, July 18

All auxiliary vouchers must be entered and approved

Tuesday, July 19

NACUBO Annual Conference ends

Wednesday, Thursday & Friday,
July 20, 21, & 22

Campus Closing Meetings—Allow at least a half day after auxiliary entries are complete for ASET review.

Monday,
July 25

Final closing at 5 P.M. Entries submitted to FMS for posting due in by noon.

 

CAMS Final Snapshots

Tuesday,
July 26
Publish the Final Closing Standard Reports

Campuses/Central Administration generate the following Closing reports:
  1. General Funds Budget Reversion Report by RC
  2. Listing of Transactions Posted After Second Closing
  3. Outstanding Orders List by RC
  4. Negative Cash Balances for 20-66 Accounts
  5. Positive Cash Balances for 20-66 Accounts
  6. Summary of General Fund Income by RC
  7. Distribute MOS, MOD, Inactive Report, ICR, and All Budget Reports
  8. Final Fund Statement
  9. Final General Ledger–FMS Only
  10. General Fund Balance Sheet
Wednesday, July 27 Run July Depreciation–Run beginning of batch