Year-End Adjustments: What to Expect

After we close the books on this fiscal year, there will be a brief period when adjustments can be made in order to address budget deficits.  Departments can perform these transactions between July 1 and July 14.  

Here are a few guidelines to follow:

• Transfers should be the primary activity being performed.
• Do not change the fund source.
• All transactions will be routed to central finance for approval.
• Accruals should not be initiated within departments.
• Activity during this two-week time frame will not be seen in FY24 balances until August 1

Questions or concerns?  Please contact us at askfinance@virginia.edu. 

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Don't miss any Fiscal Year-End Close Dates - check out the calendar of dates on the UVAFinance website.