OFFICE OF THE ASSISTANT VICE CHANCELLOR -
BUSINESS AND FINANCIAL SERVICES
April 16, 1996
KEY ACADEMIC AND STAFF ADMINISTRATORS/ KEY SUPPORT STAFF
SUBJECT: Significant Changes to the 1995/96 Fiscal
Closing Process
The purpose of this message is to alert you to major changes to the fiscal closing process this year. These changes are designed to reduce year end closing work load for everyone involved, and significantly reduce the time required to accomplish the closing.
A University-wide work group, including representatives of the San Diego Campus, all other campuses, Office of the President, and the University's external auditors, has been working for several weeks on a project to shorten and simplify the year end fiscal closing process. All campuses and Office of the President are now participating in the implementation of the changes required to accomplish this goal.
In a few weeks, the General Accounting Division of BFS, in coordination with each Vice Chancellor's Office, will be distributing detailed fiscal closing instructions and time frames.
In the intervening time, you are strongly encouraged to begin reviewing operating ledgers and other sources of financial information. If that information indicates that adjustments may be required to balance funding sources with expenditure transactions, you should begin immediately to make those adjustments based on this preliminary information. The redefined fiscal closing schedule may not permit adequate time to accomplish all of this activity after June 30.
Please watch for future messages and meeting opportunities which will explain in detail the significant changes that can be anticipated this fiscal year end.
Donald A. Larson
Assistant Vice Chancellor and
Accounting Officer