Known Issue: We’ve corrected the issue where available balances in FY22 appeared inflated in reports that included commitments.
Estimated Time to Resolution: Resolved.
Details: A timing issue with fiscal year end resulted in spend commitment liquidations processed between July 1 and July 12 having the potential to liquidate a commitment within FY22, but the corresponding FY21 commitment did not carry forward, leaving a negative commitment in FY22. This may have caused available balances for FY22 to appear inflated in reports that include commitments. Modernization and the Controller’s Office worked together to resolve the issue using a journal (JE0000067477), and are discussing how to avoid a similar issue in future fiscal years.
The initial core fund budgets for FY22 have successfully been loaded, and core fund carryforward and non-core fund budgets will soon follow. Please contact the Budget Office at email@example.com if you have questions.
As part of fiscal year end close, core funds carryforward was scheduled for July 23. This will now occur on July 30 instead.
As a reminder, FY2021 core fund budget amendments must be completed by noon tomorrow. Any in-flight budget amendments will be canceled at close of business on Friday, July 23 to prepare for the carryforward process the following week.
We’re extending part of the fiscal year end schedule to give central units time to process financial activities that must be reported to the state. FY21 will still close in Workday today.
What this does impact is the amount of time before you’ll see the roll forward of assets, liabilities, and retained earnings. We are targeting completing processing by July 19. We will inform you once carryforward is posted and available in Workday.
Happy New Fiscal Year! As of today, we have both FY2021 and FY2022 open in Workday. Please double-check to make sure you’re choosing the right dates and year as you finish up year end postings, and that you select the correct year when running reports.
You can find all the fiscal year end deadlines and additional resources on the Fiscal Year End web page.