Updated on August 9, 2023 at 3:00 PM
The Financial System for Fiscal Year 2024 is open and new transactions can be entered. The Beginning Budget and Actual Balances on the Wolfpack Reporting System Reports will have zero dollar amounts until the carry forward process and/or current year transactions are posted in Financials.
Below are specific dates by which the Central Offices will complete the carry forward processes:
1. Budget Balances for Capital Improvement funds – 07/05/2023. COMPLETE.
2. Budget Balances for Contracts & Grants (Ledger 5s) – 07/01/2023. COMPLETE.
3. Budget Balances for State funds (Lower Ledger 2s and 3s, and all Ledger 4s), F&A (Upper Ledger 2s), ETF, Student Fees, Auxiliaries, Service Centers, and other Upper Ledger 3s – 07/30/2023. COMPLETE.
4. Budget Balances for Foundations (Ledger 6’s) – 07/31/2023. COMPLETE.
5. The initial Beginning Balances for all Ledgers for Fiscal Year 2024 have been initially completed. Please Note: June Close will have an impact on these balances and once the year-end process has been finalized by the University Controller’s Office, any permanent adjusting entries processed during the 13th month could change the Beginning Balances.
6. Remaining purchase order encumbrance balances have been rolled to Fiscal Year 2024. Reconciliation will begin July 1st and will address any balance issues in Fiscal Year 2024 as they are identified. Please report any encumbrance issues to Monica O’Brien in the Procurement & Business Services Department for research and possible correction.
7. Salary Encumbrances for Contracts & Grants (Ledger 5’s) – 07/01/2023. COMPLETE.
8. Fellowship Encumbrances – 07/01/2023. COMPLETE.
Announcement posted on June 26, 2023 at 10:56 AM
Due to year-end processing, the Financial System will begin nightly batch processing at 4:00 p.m. on Friday, June 30 and is expected to run until 7 a.m. on Saturday, July 1. Please plan on signing out of the Financial System prior to 4:00 p.m. on Friday, June 30th. All transactions for Fiscal Year 2023 should be entered and approved prior to 4 p.m. on Friday, June 30th.
As a reminder the Fiscal Year 2023 Close Out Schedule can be found on the University Controller’s Office website at: https://controller.ofa.ncsu.edu/resources/deadlines-and-schedules/
The Financial Reporting System and the WolfPack Reporting System (WRS) will not be impacted by the additional processing requirements.