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UC DAVIS: ACCOUNTING & FINANCIAL SERVICES April 9, 2004 IMPORTANT, PLEASE IMMEDIATELY DELIVER TO DEPARTMENTAL ACCOUNTING STAFF DEANS, DIRECTORS, DEPARTMENT CHAIRPERSONS AND CAMPUS ADMINISTRATIVE OFFICERS RE: Fiscal Closing 2003-04 Instructions Following are the closing instructions for the 2003-04 fiscal year. Processes for departments for the annual fiscal close will be similar to regular monthly fiscal period closings. The purpose is to follow generally accepted accounting principles and match revenues and expenditures to the period incurred. With few exceptions, balances will not be drawn off at fiscal close. Balances will be reappropriated in the new fiscal year in the DaFIS object consolidation and full accounting unit (FAU) that the funds are currently budgeted in for this fiscal year. This applies to credit and overdraft balances. Departments may wish to process Current Budget Adjustments as appropriate to align current year budgets with actual expenditures. Review the May ledgers carefully and process any necessary adjustments. Achieving this on a monthly basis reduces workload at fiscal year-end. Process all 2003-04 business as soon as possible. Please note the references to year-end document processing in the Outline of Departmental Due Dates. These documents will be used only at year-end. Fiscal Closing Forums will be as follows (location MU II PLEASE REGISTER at http://dafis.ucdavis.edu/oes/ through the DaFIS Training Enrollment System): Tuesday April 13 2:30PM -- 4:00PM Tuesday April 27 10:00AM -- 11:30AM Wednesday May 5 2:30PM -- 4:00PM Note: The PowerPoint file that will be presented at the forums will be available on April 14, 2004 at http://accounting.ucdavis.edu/FiscalClose/. It is very important that all necessary staff (staff that must approve DaFIS documents) be available during the critical due dates in the Outline of Departmental Due Dates. For your use in completing fiscal close 2003-04, please review the Fiscal Closing Preparation Checklist, Outline of Departmental Due Dates, and the Reappropriation Outline available on the web at http://accounting.ucdavis.edu/FiscalClose/ (Fiscal Closing 2003-04 instructions in PDF or Word 6 format). Thank you in advance for your effort and consideration. Sincerely, J. Michael Allred Associate Vice Chancellor Finance/Controller 04-040
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