Fiscal Year Closing Timelines and Procedures
Fiscal Year 2026
Procurement
June 1 - First day to begin processing fiscal year 2027 Purchase Requisitions in Unimarket.
Goods and services for FY27 Purchase Orders must not be received nor invoiced in Unimarket prior to July 1. When entering Purchase Requisitions, end users must be careful to select the appropriate fiscal year.
June 12 - Departments are to review and close all open fiscal year 2026 Purchase Orders that are no longer needed / order has been fulfilled.
June 22 - Last day to approve fiscal year 2026 Purchase Requisitions.
FY26 Purchase Requisitions must be fully approved by 4:45 pm on June 22. Purchase Requisitions not approved by 4:45 pm on June 22 will be cancelled and must be re-entered as a fiscal year 2027 Purchase Requisition.
June 23 - Purchase Requisitions entered into Unimarket will default to fiscal year 2027.
June 25 thru July 5 [5 business days] - Unimarket will be unavailable to the university community for fiscal year end processing. Note: these dates are subject to change.
July 6 - Unimarket is available to the university community.
August 3 - Budget checking becomes operational in Unimarket.
Accounts Payable
June 22 – Last day to submit invoices, check requisitions, T&E reimbursement requests, and wire requests to Accounts Payable
This is the last day to submit vendor invoices, check requisitions, T&E reimbursement requests, and wire transfer requests to Accounts Payable for processing as a fiscal year 2026 expense. Where applicable, fiscal year 2026 purchase orders should be referenced. Thereafter invoices will be accrued for expense recognition in fiscal year 2026 as determined by the Controller’s Office.
Human Resources and Payroll
June 11 - Compensation changes to biweekly payroll with check date of 6/26/2026 (BW13) due to Human Resources
This is the last day to submit Salary Change/Payment Authorization forms and electronic personnel action forms (ePAFs) to Human Resources for compensation changes and terminations to be included in the June 26th (BW13) biweekly payroll.
June 11 - Compensation changes to June monthly payroll (MN6) due to Human Resources
This is the last day to submit Salary Change/Payment Authorization forms and electronic personnel action forms (ePAFs) to Human Resources for compensation changes or terminations to be included in the June 30th monthly (MN6) payroll.
June 25 - Compensation changes to biweekly payroll with check date of 7/10/26 (BW14) due to Human Resources.
This is the last day to submit Salary Change/Payment Authorization forms and electronic personnel action forms (ePAFs) to Human Resources for compensation changes or terminations to be included in the July 11th biweekly (BW14) payroll.
Accounting
June 30 - IDTs and journal entry reclassification requests for fiscal year 2026 due
to General Accounting
This is the last day to submit Inter-Departmental Transfer requests and requests for Journal Entry Reclassifications to General Accounting for posting to fiscal year 2026. Please send IDT and JE Reclassification requests to [email protected] .
July 1 – Salary reclassifications to fiscal year 2026 due to Budget & Grants Accounting Offices
This is the last day to submit requests to correct fiscal year 2026 miscoding of salary activity. Adjustments to labor distributions impacting fund 100 should be submitted to [email protected]. Adjustments to labor distributions impacting restricted funds (funds beginning with 2, 5 or 6) along with salary reclassifications between operating budgets and restricted funds should be submitted to [email protected].
July 3 – Requests to accrue invoices to fiscal 2026 that are greater than $10,000 due to Controller’s Office.
This is the last day to request an accrual be made to fiscal year 2026 for goods or services received prior to June 30, 2026. Requests should only be made for invoices expected to be $10,000 or greater. Invoices received in Accounts Payable from July 1st until the end of the audit will be reviewed to determine if they pertain to fiscal year 2026. If so, they will be accrued into fiscal year 2026 by the Controller’s Office. Please send requests for accruals to [email protected] .
University-Issued Credit Card ("P- Card")
June 26 - accounting for P-card activity.
This is the last day to review and designate accounting for Bank of America P-card activity appearing on the June 22, 2026, Bank of America statement. Any activity that is not reviewed will be posted to each cardholder’s default Banner index.
July 10 – P-cards
This is the last day to submit June 2026 Transaction Allocation Reports to Card Compliance at [email protected].
Bursar
June 23 – Bursar-deposits and pre-processed credit card activity.
Please bring all outstanding deposits and pre-processed credit card activity to the Bursar’s office by 12:00 pm on Tuesday, June 23.
Budget
July 7 (target date) – FY26 Fund 100 operating budgets will be reflected in Banner [predicated upon Executive Cabinet approval].
Selected ‘pooled’ personnel budgets will initially be established at the appropriate VP level and be further distributed by September 1. Budget checking becomes operational on August 3 in Unimarket. Please send any budget questions to [email protected] in the Budget Office.