Budget & Fiscal Close

Budget Planning Resources FY 17-18

Fiscal Close

  •  Is a process that allows for a "cut-off" of financial activity so the university can generate annual financial reports for stakeholders. 
  • The university's fiscal year starts July 1 and ends June 30. It is divided into 12 periods that approximate the days of the month, and has an additional period (Period 13) during which final adjustments  (e.g., accruals, deferrals, transfers, etc.) are made. Fiscal Close occurs near the end of the university's fiscal year. Period 12 is June Preliminary and Period 13 is June Final. Below are some resources to help you prepare for Fiscal Close. 

General Fiscal Close Information

Undergraduate Education Fiscal Close Information 

Kuali Financial System

  •  Kuali Financial System (KFS) can be used to perform a variety of transactions, from Purchasing to Accounts Payable, Capital Asset Management to Labor Distribution. KFS is based upon the same financial system from which our previous system was created, and will take our financial processing into the future.