Sent to the KFS-Update mailing list on July 8, 2016
All campus units must submit their accruals and deferrals and final budget alignment and error corrections no later than Friday, July 15. No exceptions will be made because processing late accruals and deferrals would require other previously processed closing steps to be revised or amended.
Departments must close the fiscal year in a solvent condition. All KFS documents must be in Final status to be included in the period. At the end of the day on July 15, any GEC, BA, BAT, YEDA, AV, or DI documents for Period 12 and Period 1 of 2016/2017 that are not in Final status will be canceled by the system.
It is recommended that any fiscal year 2016/17 documents be initiated after July 15 to avoid unintended system cancelation. If a transaction in a canceled document should be recorded in Period 1, it will have to be re-entered or copied.