Medical Center Fiscal Close Information

These instructions are intended to assist in coordinating the needs of the UCI Medical Center with the requirements of the University, the Accounting & Fiscal Services Department, and other service departments. This year’s fiscal year-end closing process will follow the same general timeline as the previous year's schedule with minor changes to certain cutoffs.

  • Download Memo (not available yet): 2017-18 Fiscal Year-End Close Information & Dates (PDF Format)

Summary of Key Fiscal Close Dates

This information will be on this year's Fiscal Closing Workshop slides (PPT Format) when ready.

Action Item
Deadline Notes
DV and TEM Cutoff
June 22 Do not hold if you miss deadline. We will make every effort up to 6/22/18 to approve.
AP Invoice Processing Cutoff
June 29 Last day for Medical Center to upload to PDP is June 29. See Feeder System Deadlines.
Cash Collection
June 29
1 p.m.
Submit deposits by 1 p.m. on June 29. See deadlines page for more information.
KFS Maintenance Changes June 29 Last day to initiate any KFS Maintenance Changes is June 29.
Accounting Reviewer Bypass July 02 – July 18 Accounting Reviewer Bypass (BA, BAT, GEC & DI documents ONLY)
Recharges Complete July 6 The cutoff for feeder systems that send data to PDP (those that generate payments) is June 30. Feeder Systems that feed only to General Ledger have a cut-off date of July 5. This is mandatory to allow departments two days to make adjustments in their accounts before July 7, 2017.
Prelim July 11 Last day for KFS initiated documents where Fiscal Period 12 has been selected (drop down). These must be FINAL except for BAs & BATs, GECs, and YEDAs
YEDAs and YERAs Available July 12 See the YEDA page for more details.
YEDA, YERAs, & GEC Cutoff

July 18

Last Day for Fiscal Period 12 FINAL KFS initiated documents: BAs & BATs, GECs, and YEDAs.

Interim

July 18

Period 12 will close in KFS, and certain non-final docs will be canceled (GEC, BA, BAT, YEDA) 

YEAV and other Year End User Documents Cutoff

Aug 01

The Following 5 Documents Are Available Only For Year End Users Through Aug 01.

Budget

Financial Processing

June Final

Aug. 01

July Close

Aug. 7

  

Full UCI Medical Center Fiscal Year End Closing Schedule

The Medical Center Schedule download as an Excel Spreadsheet will be ready soon.

Preliminary Ledger

Due Date

Step No.

Organization Responsible

Description of Action

6/21 HC001 Hospital & Clinics/Campus (P/R)

Payroll -First Cutoff for:

  • Payroll Expense Transfers
  • Late/Reduce Pay
  • Additional Pay adjustment transactions (including leave time reporting)

In order to be reflected in June payroll ledger, these transactions should be prepared and scheduled for processing no later than June 21, using Pay Cycle "B1" and Pay Period End Date "061618" in the EDAT submenu within PPS (Payroll/Personnel System).

6/25 HC002 Hospital & Clinics Payroll - Second Cutoff for:
  • Payroll Expense Transfers
  • Late/Reduce Pay
  • Additional Pay adjustment transactions (including leave time reporting)
In order to be reflected in June payroll ledger, these transactions should be prepared and scheduled for processing no later than June 25, using Pay Cycle "MO" and Pay Period End Date "06/30/18" in the EDAT submenu within PPS (Payroll/Personnel System).
6/29 HC003 Campus (Kitty) coordinates with Alice Lui Current Fund Equipment and Software capitalization - CAM: Finalized ARG/Asset Global Add document by 7PM 6/29 for FY17-18.
6/30 HC004 Hospital & Clinics Complete annual inventory of Storehouse, Pharmacy, Cafeteria, etc., as applicable
7/2 HC005 Hospital & Clinics/Campus (P/R) Payroll - Third Cutoff for:
  •  Payroll Expense Transfers
  • Late/Reduce Pay
  • Additional Pay adjustment transactions

Absolute last chance for:

  • June 2018 Z payments for the School of Medicine

In order to be reflected in June payroll ledger, these transactions should be prepared and scheduled for processing no later than July 2, using Pay Cycle “XX” and Pay Period End Date "060118" in the EDAT submenu within the Payroll/Personnel System (PPS).

7/2 HC006 Hospital & Clinics Submit statement of cash collected by the close of business on 6/30, but not deposited until the next workday, and prepare accruals as necessary.
7/5 ADDED - HC007 Hospital & Clinics/Campus (P/R)

Payroll – Fourth Deadline for:

  •  Payroll Expense Transfers

Absolute Last Chance for:

  • Late/Reduce Pay
  • Additional Pay adjustment transactions

In order to be reflected in June payroll ledger, these transactions should be prepared and scheduled for processing no later than July 5, using Pay Cycle “B2” and Pay Period End Date "063018" in the EDAT submenu within the Payroll/Personnel System (PPS).

This is the absolute last Pay Cycle to be used for Late/Reduce Pay and Additional Pay Adjustment to be included in 2017-18 business. Any payroll that is not paid out by the July 5 B2 cycle deadline will not be accrued into the 2017-18 fiscal year.

7/6 HC008 Hospital & Clinics Cutoff for entries into the June Preliminary General Ledger affecting campus accounts using any KFS recharge process.
7/6 HC009 Hospital & Clinics Cutoff for all recharge activity, including feeder systems, IB document, SB document, and DI document. All documents must be final by COB on 7/6 to be included in 17/18. The feeder/recharge cutoff gives departments two days to make adjustments to ledgers before the Interim deadline. The cutoff for feeders does not include the PDP feeder - just feeders that are recording recharges.
7/6 HC010 Hospital & Clinics (P/R) Review Labor Distribution Ledgers (PPP 5302) and prepare correcting entries as necessary. (Available for reviewing on EDL July 6)
7/6 Friday ALL DIVISIONS

FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE PRELIMINARY LEDGER
**Note that the Campus' Prelim deadline is 7/11 this year. We're listing 7/6 as the Med Center Prelim deadline because Campus will be sending the KFS data file to the MC during evening processing on 7/6. It will take 2 days for MC to process this file, so we decided to transmit it on Friday instead of waiting for the Campus deadline.

Interim Ledger

Due Date

Step No.

Organization Responsible

Description of Action

7/9 ADDED - HC011 Hospital & Clinics/Campus (P/R)

Final Deadline for Payroll Expense Transfers

In order to be reflected in June/July payroll ledger, these transactions should be prepared and scheduled for processing no later than July 9, using Pay Cycke "XX" and Pay Period End Date "070118" in the EDAT submenu within the Payroll/Personnel System (PPS).

Reminder: Only Payroll Expense Transfers encoded with a Pay Period End Date of 07/01/18 or earlier will be processed into the June/July ledger. DO NOT process any other transactions on this cycle (LX, RX, AP, FT). THEY WILL BE DELETED.

This is the absolute last Pay Cycle to be used for expense transfers to be included in prior year business. Ledgers will be updated with these payroll transactions on July 10.
7/9 HC012 Campus (Kitty) coordinates with Alice Lui Current Fund Equipment and Software reconciliation - Review CAM to GL variances and process GECs to move noncapitalizable items from capitalizable expense object code as needed
7/9
5:00 PM
HC013 Hospital & Clinics Final cutoff for electronic accrual of June invoices ('MACR'). Due at campus OIT from Hospital & Clinics no later than 5:00 PM on 7/9.
7/10 ADDED - HC014 Hospital & Clinics/Campus (P/R)

Review Labor Distribution Ledgers (PPP 5302) and prepare correcting entries as necessary. (Available for reviewing on EDL July 10)

7/10 - 7/18 HC015 Hospital & Clinics / Campus (Srey) Review all entries for compliance with policies and review for appropriate descriptions and coding for proper accountability. Also review all entries to preclude “invalid suspended transactions,” as well as correcting any that exist. Any corrections made must be communicated to the Hospital & Clinics.
7/10 - 7/18 HC016 Campus coordinates with Cynthia Projects that are 90% complete or have notice of Beneficial Occupancy or are placed in use at 6/30 will be capitalized.
7/10 HC017 Hospital & Clinics

Based on physical inventory that was taken, record inventory balances and adjust expenditures accordingly (accrual).

Dr: 114610 Storehouse ( KFS Obj. J357)
114620 Pharmacy ( KFS Obj. J357)
114630 Department & Miscellaneous ( KFS Obj. J358)
Cr.: 42XXXX-63000-XX-XXXX ( MC Exp. Acct)
7/10 HC018 Campus (Kitty) coordinates with Alice Lui Current Fund Equipment, Software Capitalization - CAB: Complete all period 12 CAB AP/GL to CAM by 7PM
7/12 HC019 Hospital & Clinics Reclass depreciation and disposal expense to unexpended balance. Test run on 7/10. N/A for Balance Type AC; recorded under Balance Type MD.

Equipment Buildings
Dr: 119850-63000 0500* (source) 
Cr: 42XXXX-63000-0X-7274 

Dr: 119850-63000 0725 (source)
Cr: 42XXXX-63000-0X-7272


* The total 0500 should equal entries on 119710-76095 Transaction Code 3050.
7/14 HC020 Campus (Kitty) coordinates with Wan Tung Provide FY17-18 MC Debt Obligations and Leases worksheet to campus 
7/14 HC021 Campus (Kayoko) coordinates with Renee Craven Provide FY17-18 MC and School of Medicine Non-cancellable leases worksheet to campus 
7/17 HC022 Hospital & Clinics Capital Leases:
Capitalize equipment purchased from borrowed funds, non-cancelable lease agreements and installment contracts.

Capitalization:
Dr: 101807-01992 (K129, K137, K138) Equipment Cr: UC01992-C176 Invested in Plant

Record outstanding liabilities pertaining to Capital Leases/Installment Purchase Contracts:
Dr: 101992-01992-3085 Cr: 101966 (M134) Liabilities – Capital Leases (GE)
Dr: 101992-01992-3085 Cr: 101970 (M138) Liabilities – Capital Leases (Other)

Record principal payments on Capital Leases/Installment Purchase Contracts as a reduction of the Liability:
Dr: 101966 (M134) Liabilities – Capital Leases (GE) Cr. 101992-01992-3529 (UC01992-C529)
Dr: 101970 (M138) Liabilities – Capital Leases (Other) Cr. 101992-01992-3529 (UC01992-C529)

To reclassify payments on Capital Leases as changes in fund balances:

Fiscal Year End During Year (Information)

Cr: 42XXXX-6307X-03-XXXX - Principal Dr: 42XXXX-6307X-03-XXXX -Principal
Cr: 42XXXX-6309X-03-XXXX - Interest Dr: 42XXXX-6309X-03-XXXX -Interest
Dr: UC6307X X544 - Principal Cr: Cash - Principal
Dr: UC6309X X544 - Interest Cr: Cash - Interest
Dr: UC01725 B150 - Principal
Dr: UC01725 B250 - Interest
Cr: UC01725 C045 - Principal
Cr: UC01725 C045 - Interest
7/18
8:00PM
Wednesday All Divisions FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE INTERIM LEDGER

Worksheet (TB1) and Final Ledgers

Due Date

Step No.

Organization Responsible

Description of Action

7/19 - 7/25 HC023 Hospital & Clinics Bank Loans:
Record outstanding liabilities pertaining to Bank Loans (Only those recorded in Plant Funds using transaction code A550):
Dr: MC-UC01992-C623 Cr: MC-UC18882-M130 Liabilities – Other Borrowings

Record principal payments on Bank Loans as a reduction of the Liability:
Dr: MC-UC18882-M130 Liabilities – Other Borrowings Cr: MC-UC01992-C527

To reclassify payments of principal and interest on Bank Loans as changes in fund balances:

 Fiscal Year End During Year (Information)

Cr: 42XXXX-6307X-03-XXXX - Principal Dr: 42XXXX-6307X-03-XXXX - Principal
Cr: 42XXXX-6309X-03-XXXX - Interest Dr: 42XXXX-6309X-03-XXXX - Interest
Dr: UC6307X X544 - Principal Cr: Cash – Principal
Dr: UC6309X X544 - Interest Cr: Cash – Interest
Dr: UC01724 B140 - Principal
Dr: UC01724 B240 - Interest
Cr: UC01724 C045 - Principal
Cr: UC01724 C045 - Interest
7/19 - 7/25 HC024 Campus (John) coordinates with Cynthia Record other noncurrent liabilities at 6/30/18 as well as the current portion associated with their non-current liabilities on reversing journals.
7/19 - 7/25 HC025 Campus (John) coordinates with Renee Craven Transfer operating gain or loss to Hospital & Clinics Unexpended Balance to Reserve for Improvements:

Gain - Dr: MC- UC63000 - X725 Loss - Dr: MC- UC75080 - X725
Cr: MC- UC75080 - X725 Cr: MC- UC63000 - X725
7/19 - 7/25 HC026 Hospital & Clinics Review Hospital trial balance to be prepared by Hospital & Clinics to make certain accounts are in agreement with campus General Ledger, Fund Summary, and Hospital subsidiary General Ledger.
7/19 - 7/25 HC027 Hospital & Clinics Financially transfer an amount from the Reserve for Equipment Replacement to special fund of the Unexpended Balance account that is required to fund the purchases for equipment:

Dr: MC- UC75080 - X725 Cr: MC- UC63010 - X725
7/19 - 7/25 HC028 Hospital & Clinics Record depreciation allowance on hospital records only:

Dr: Invested in Plant Cr: Depreciation Allowance
7/19 - 7/25 HC029 Hospital & Clinics / Campus To reclassify payments of principal and interest on Regents’ Advances (internal loans) as changes in funds balances. Reclassification automated. No action required by Hospital.
7/19 - 7/25 HC030 Hospital & Clinics / Campus To reclassify payments of principal and interest on Loans as changes in fund balances. Reclassification automated. No action required by Hospital.
7/19 - 7/25 HC031 Hospital & Clinics Review Equipment Reserve to verify that the amount recorded in Step HC016 equals the amount depreciated:

119710-76095 = 42XXXX-63000-05-72XX
7/25 Wednesday
July 25
FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE WORKSHEET (TB1) LEDGER
8/1 Wednesday
August 1
FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE FINAL LEDGER

Action After Final Ledger

Due Date

Step No.

Organization Responsible

Description of Action

8/8

HC032

Hospital & Clinics

Send final financial statements (including balance sheet, statement of operations, and analysis of surplus and reserves) of Teaching Hospitals. Note: In accordance with Accounting Manual Chapter H-576-67 and letter from D. Alter/J. Turek to AO/HFD dated 7/10/85, these statements must be accompanied by a formal reconciliation from hospitals on any difference in revenue, expenses, and balance sheet items (accounts receivable, accounts payable, deferred income, etc.) between hospital figures reported on statements and those figures on the final University general ledger. Financial statements with the reconciliation should be sent to Peggy Arrivas and one copy to the campus Accounting Office with detail, attention John Douglas (email or Zot 1050).