Year-End Closing Guidelines
Guidelines must be set to ensure the accounts of the University are properly and timely closed for the fiscal year. Your cooperation in observing these dates will be most appreciated.
The carryforward policy was implemented to reduce the amount of unwise spending decisions that appear to have occurred in the past, with a rush to not only initiate, but to pay and close open purchase orders by year-end. The current policy encourages good stewardship by allowing units to use their funds wisely to make financially responsible purchasing decisions at year-end. Questions about the carryforward policy, and how your unit can assure that year-end spending is done wisely and efficiently, can be directed to your Financial Officer.