General Information and Funds Carried Forward

Humanities Building

Please carefully review the closing dates on this website. Questions can be directed to your department financial manager or KFS Support ( Additionally, please keep in mind the following:

Action List Reminders

During the final weeks of Period 12, KFS users will receive daily Action List reminders to help ensure a timely closing process.

KFS Decision Support

Decision Support will be updated six nights per week, Sunday through Friday, during Fiscal Close (from July 2 through July 23).

June Ledgers

June "Final" Ledgers are anticipated to be available by the first weekend of August.

Potential Accruals

Special attention should be devoted to the review of transactions processed in July for potential accruals. Please contact the KFS Support ( as soon as possible if a material transaction should be evaluated for accrual consideration.

Review Balances and Financial Responsibilities 

Review balances and financial responsibilities for your department to ensure a complete and successful fiscal close.

Recommended Actions

In order to close in a timely manner, it is important that departments adhere to the cutoff dates outlined in this letter. In addition to meeting the cutoff dates, it is recommended that the following actions be taken in each campus department:

Ledger Reconciliation

Continue to promptly reconcile your monthly ledgers.

KFS Suspense Account 

Review the KFS Suspense Account Audit Report (RUCI158) to ensure that department salary and benefit expenses are not recorded against the KFS Suspense account (BF10002). Look for transactions posted against the KFS Suspense account and transfer them to the proper KFS accounts to ensure that these transactions are appropriately reflect in the department’s financials for the current fiscal year. Salary expenses hitting the KFS suspense account will need to be transferred via the Direct Retro Process (Salary Cost Transfer) by the UCPath deadline of noon on July 5, 2023, for the transactions to be reflected in the current fiscal year.

Object Codes 9995 & 9999 

Expenses recorded to object codes 9995 and 9999 must be transferred to the correct object code(s) prior to fiscal close. The Office of the President does not allow any expenses to be recorded under these object codes. Using the Fund Summary Report (FS0150D), please check both the asset and liability boxes to see transactions posted to 9995 and 9999.

Unclaimed Electronic Payments

Review the Unclaimed Electronic Payments Report under the "General Ledger - Campus Reports" section of KFS Decision Support to identify any unclaimed electronic payments. Use a General Error Correction (GEC) to move an unclaimed payment to the appropriate object code(s) and account(s). Ensure that all the supporting documents are attached to the GEC before submitting the GEC for approval. Departments should regularly review the Unclaimed Electronic Payments Report to ensure all payments are recorded properly and in a timely manner.

May Ledgers

Thoroughly review your May (Period 11) ledgers and make all necessary corrections and adjustments. Ensure all transactions will be processed in time to appear in June (Period 12) ledgers. Departments cannot process adjustments after the Period 12 ledger closes.

Accounts Open

Please ensure that all accounts and sub-accounts with balances are open in order to carry forward budgets into the new fiscal year.

Income in Control Accounts and Recharge Variances

Income in Control Accounts and Recharge variances both must be budgeted and aligned for fiscal closing.  Departments have the choice of budgeting and aligning Income and consolidation codes in operating accounts if they want to see aligned balances on various reports.

Accouting Lines

Review full accounting units (FAUs) provided to campus recharge units for recurring charges to ensure accuracy and to minimize corrections. Please ensure that KFS accounts submitted to recharge units are not closed to avoid transactions being rejected or posted to the continuation accounts.

Recharge Units

Recharges should be processed in a timely manner. Recharge units must ensure that all recharges are completed for the same fiscal year at fiscal close. All recharge income object codes must be appropriated to the proper operating budgetary object codes. 

Transaction Accrual/Deferral Criteria

Material transactions that were not recorded by the Period 12 deadline and are related to FY 2022-23 business must be accrued. To determine whether a transaction should be accrued or deferred for reporting purposes, UCI has established the following criteria:

  • The goods and/or services are received in FY 2022-23, but the expense is not reflected on the 6/30 campus ledgers (expense accrual).
  • Services are performed in FY 2022-23, but not billed (revenue accrual).
  • Revenue is received in FY 2022-23 for services to be conducted in FY 2023-24 and future fiscal years (revenue deferral).
  • Expenses that are recorded in FY 2022-23 for goods & services that will be received or occur in FY 2023-24 and future fiscal years (expense deferral).
  • The transaction value is greater than or equal to UCI’s accrual/deferral threshold. For the FY 2022-23 close, the threshold is $10,000. There are two exceptions to this rule:
    • For equipment, anything greater than or equal to $5,000 must be accrued.

For plant construction costs, anything greater than or equal to $35,000 must be accrued. YEDA documents cannot be accrued for plant construction costs. Departments must inform AP about anything great than or equal to $35,000

C&G Accruals

If departments have any accruals for contracts & grants funds, please provide the information to Griselda Duran ( in Contracts and Grants Accounting by July 13. Emails requesting expense accruals on C&G funds must include the following: Fund number, PO number, a brief explanation, and a copy of the invoice. Departments should not process any accruals for contracts & grants funds.

Funds Carried Forward

Unrestricted Funds

  • Unrestricted funds can only be carried forward if they are in a positive status. Funds will be carried forward and re-appropriated in July of FY 2023-24, in each departmental account/sub-account.
  • Campus departments will not be required to take any action during fiscal closing to carry forward these funds.
  • All unrestricted funds are required to be in a solvent condition at fiscal year-end. If you are unable to resolve this occurrence, please contact the Budget Office.

Restricted Funds

  • Contracts and Grants - balances will be carried forward and re-appropriated in July.
  • Gift Fund - accounts without current activities and with small balances should be reviewed by departments and closed out.
  • Endowment Fund balances will be carried forward and re-appropriated in July of FY 2023-24. Funds are required to be in a solvent condition at fiscal year-end.

Fiscal Close Workshops

The Accounting Office will be offering two Fiscal Close Workshop sessions on May 19 and 24.

In addition, we will be offering a workshop session directed toward Auxiliary and Sales & Service Enterprises on May 31. This session will cover the same topics as the first two workshops, with additional topics unique to auxiliary and sales & service enterprises.

More information and instructions for registering will be sent to campus departments via email in the near future.