FISCAL YEAR
ACTIVITIES CHECKLIST

Beginning of Fiscal Year

	Run carryforward report and verify that the correct fund balance has been posted to the correct account.
	Run Budget to plan report to obtain the detail view (CO) and the higher level view (FM) of the current fiscal year budget.
	Reconcile accruals/Deferrals to actuals

	Reconcile charges to Statement of Accounts.
	Review Payroll Distribution Report.
	Review 5 monthly Management Reports and distribute to Chairs/Unit Heads.

	All invoices for goods/services received are paid and no payments for goods/services not received.
	Prepare year-end accruals for goods/services received but not yet received (>=$5k). All detail calculations must be correct in backup and must agree with proposed journal entry.
	Prepare deferrals for funds received but services not yet rendered.
	Review budgeted revenues to ensure the actuals have been recorded.
	For academic departments, prepare and process CRC salary & benefit recovery for the fiscal year.
	Review Academic salary account to verify transfers in/out have been processed and variances explained.
	Submit Accounts Receivable invoices for external customers to 215 Huron St.
	Ensure all bank deposits have been recorded in FIS.
	Post any outstanding parked documents.
	Submit carryforward spending plan for operating accounts to the Finance Office (Forcast # 3).
	Review Negative FM balances and make necessary corrections.
	Clear all outstanding balances in inactive accounts.
	Reconcile and replenish petty cash.
	Record all outstanding expense recoveries.
	Settlement of accountable advances due before April 30th.
	Clear old purchase orders.
	For departments/units with budgeted endowment income, ensure endowment income has been credited by Financial Services and verify the amount is correct based on the payout rate and the number of units as shown in the annual budget handout.