SUBJECT:  Fiscal Closing - 2001/2002 PPM 300-60

Fiscal Closing instructions for 2001/02 are available in PPM 300-60, Fiscal Closing, at http://adminrecords.ucsd.edu/ppm/docs/300-60.html. All departmental bookkeepers and other personnel involved in the Fiscal Closing process should become thoroughly familiar with this issuance.

There will be two closing ledger cycles, the Preliminary and the Final. The deadlines for entries to the June Preliminary ledger are included in Supplement I. No departmental activity affecting fiscal 2001/02 will be allowed after the Preliminary Ledger cutoff dates. Any entries or corrections that represent current year activity must be made by the appropriate Preliminary Ledger dates. However, any significant error found in the June Preliminary Ledger that may be considered material should be reported to General Accounting and/or the appropriate Vice Chancellor Office for evaluation.

Balances in the General Fund or other current unrestricted funds will not lapse at the department level. Generally all such budget balances, whether positive or negative, will automatically be carried forward to the new fiscal year in the same department where they resided as of year-end. Note, however, the carry-forward process does not change any budgetary controls that may be required within specific Vice Chancellors' areas, which will be specified in closing instructions provided by each Vice Chancellor's Office.

In general, the June ledger cycle should be treated the same as any other ledger cycle during the year, that is, no extraordinary effort should be made to include entries in the June ledger, with the following exceptions:

1. Self-Supporting activities should continue to record inventories and accruals as specified in instructions sent to those activities.

2. Special and Specific State Appropriations (funds 18xxxx, 199xxx, excluding 19900A) may lapse depending on the authorizing Agency and may require additional closing steps. Please contact Robin Posner (x40859) for more information on these funds.

3. Efforts should be made to correct material errors in the ledgers by the June Preliminary Ledger deadline.

In addition, normal monthly guidelines should be followed in processing check requests, travel advances, petty cash reimbursements, etc., to ensure timely reporting of University liabilities.

Please bring this material to the attention of those concerned. Additional copies of this issuance can be obtained by printing the pdf files provided at the beginning of each Supplement.

See http://adminrecords.ucsd.edu/ppm/docs/300-60.html

Questions concerning fiscal closing may be directed to Ken Billmeier, extension 44995, or Dennis Beeson, extension 48533.

                                                Nick Johnston
                                                Manager, General Accounting