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.

Summary of Key Fiscal Close Dates

This information was primarily taken from this year's Fiscal Closing Workshop slides (PPT Format).

Action Item
Deadline Notes
DV and TEM Cutoff
June 23 Do not hold if you miss deadline. We will make every effort up to 6/30/17 to approve.
AP Invoice Processing Cutoff
June 30 Last day for Medical Center AMS to upload to PDP is June 30. See Feeder System Deadlines.
Cash Collection
June 30
1 p.m.
Submit deposits by 1 p.m. on June 30. See deadlines page for more information.
KFS Maintenance Changes June 30 Last day to initiate any KFS Maintenance Changes is June 30.
Accounting Reviewer Bypass June 30 – July 14 Accounting Reviewer Bypass (BA, BAT, GEC & DI documents ONLY)
Recharges Complete July 5 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 7 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 Available July 8 See the YEDA page for more details.
YEDA & GEC Cutoff

July 14

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

Interim

July 14

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

July 28

The Following 5 Documents Are Available Only For Year End Users Through July 28.

Budget

Financial Processing

June Final

July 28

July Close

Aug. 7

  

Full UCI Medical Center Fiscal Year End Closing Schedule

Click here to download the Medical Center Schedule as an Excel Spreadsheet.

Preliminary Ledger

Due Date

Step No.

Organization Responsible

Description of Action

6/22

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 22, using Pay Cycle "B1" and Pay Period End Date "06/17/17" in the EDAT submenu within PPS (Payroll/Personnel System).

6/26

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 26, using Pay Cycle "MO" and Pay Period End Date "06/30/17" in the EDAT submenu within PPS (Payroll/Personnel System).

6/30

HC003

Hospital & Clinics

Complete annual inventory of Storehouse, Pharmacy, Cafeteria, etc., as applicable

6/30

HC004

Campus (Kitty) coordinates with Alice Lui

Current Fund Equipment and Software capitalization - CAM: Finalized ARG/Asset Global Add document by 7PM 6/30 for FY16-17.

7/3

HC005

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

HC006

Hospital & Clinics

Cutoff for entries into the June Preliminary General Ledger affecting campus accounts using any KFS recharge process.

7/5

HC007

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 7/5 to be included in 16/17. 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

HC008

Hospital & Clinics/Campus (P/R)

Payroll - Final Cutoff 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 6, using Pay Cycle "XX" and Pay Period End Date "07/03/17" in the EDAT submenu with PPS (payroll/personnel system). Reminder: Only transactions encoded with a Pay Period End Date of 06/30/17 or earlier will be processed into the June/July payroll ledger. Please 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. If you have payroll expenses or transfers of expense that need to be accrued, you must process them into one of the automated cutoffs identified above.

7/7

HC009

Hospital & Clinics (P/R)

Review Labor Distribution Ledgers (PPP 5302) and prepare correcting entries as necessary. (Available for reviewing on EDL July 7)

7/7

HC010

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 capitaliazble expense object code as needed

7/7 - 5PM

HC011

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 7/7.

7/7

Friday

ALL DIVISIONS

FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE PRELIMINARY LEDGER

Interim Ledger

Due Date

Step No.

Organization Responsible

Description of Action

7/8 - 7/14

HC012

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 - 7/14

HC013

Campus (Sam) 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

HC014

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

HC015

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

HC016

Hospital & Clinics

Reclass depreciation and disposal expense to unexpended balance. Test run on 7/7. N/A for Balance Type AC; recorded under Balance Type MD.

Equipment

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

Buildings

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

*The total 0500 should equal entries on 119710-76095 Transaction Code 3050.

7/14

HC017

Campus (Kitty) coordinates with Wan Tung

Provide FY16-17 MC Debt Obligations and Leases worksheet to campus

7/14

HC018

Campus (Kayoko) coordinates with Renee Craven

Provide FY16-17 MC and School of Medicine Non-cancellable leases worksheet to campus

7/14

HC019

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
  • Dr: 101992-01992-3085
  • Cr: 101966 (M134) Liabilities–Capital Leases (GE)
  • 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)
  • Dr: 101970 (M138) Liabilities–Capital Leases (Other)
  • Cr. 101992-01992-3529 (UC01992-C529)
  • Cr. 101992-01992-3529 (UC01992-C529)

  


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

Fiscal Year End

  • Cr: 42XXXX-6307X-03-XXXX -Principal
  • Cr: 42XXXX-6309X-03-XXXX -Interest
  • Dr: UC6307X -- X544 -Principal
  • Dr: UC6309X -- X544 -Interest
  • Dr: UC01725 -- B150 -Principal
  • Dr: UC01725 -- B250 -Interest
  • Cr: UC01725 -- C045 -Principal
  • Cr: UC01725 -- C045 -Interest

During Year (Information)

  • Dr: 42XXXX-6307X-03-XXXX -Principal
  • Dr: 42XXXX-6309X-03-XXXX -Interest
  • Cr: Cash -Principal
  • Cr: Cash -Interest

7/14
8PM

Friday

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

7/15 - 7/21

HC020

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
  • 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

  • Cr:  42XXXX-6307X-03-XXXX
    -Principal
  • Cr:  42XXXX-6309X-03-XXXX
    -Interest
  • Dr:  UC6307X -- X544 -Principal
  • Dr:  UC6309X -- X544 -Interest
  • Dr:  UC01724 -- B140 -Principal
  • Dr:  UC01724 -- B240 -Interest
  • Cr:  UC01724 -- C045 -Principal
  • Cr:  UC01724 -- C045 -Interest

During Year (Information)

  • Dr:  42XXXX-6307X-03-XXXX
    -Principal
  • Dr:  42XXXX-6309X-03-XXXX
    -Interest
  • Cr:  Cash -Principal
  • Cr:  Cash -Interest

7/15 - 7/21

HC021

Campus (John) coordinates with Cynthia

Record other noncurrent liabilities at 6/30/17 as well as the current portion associated with their non-current liabilities on reversing journals.

7/15 - 7/21

HC022

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
  • Cr: MC- UC75080 - X725

Loss -

  • Dr: MC- UC75080 - X725
  • Cr: MC- UC63000 - X725

7/15 - 7/21

HC023

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.

7/15 - 7/21

HC024

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

7/15 - 7/21

HC025

Hospital & Clinics

Record depreciation allowance on hospital records only:

  • Dr: Invested in Plant
  • Cr: Depreciation Allowance

7/15 - 7/21

HC026

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.

7/15 - 7/21

HC027

Hospital & Clinics / Campus

To reclassify payments of principal and interest on Loans as changes in fund balances. Reclassification automated. No action required by Hospital.

7/15 - 7/21

HC028

Hospital & Clinics

Review Equipment Reserve to verify that the amount recorded in Step HC016 equals the amount depreciated:

  •  119710-76095 = 42XXXX-63000-05-72XX

7/21

 

Friday  - July 21

FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE WORKSHEET (TB1) LEDGER

7/28

 

Friday - July 28

FINAL CUTOFF FOR ALL KFS DOCUMENTS AFFECTING JUNE FINAL LEDGER

Action After Final Ledger

Due Date

Step No.

Organization Responsible

Description of Action

8/4

HC029

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).