Key 2017-2019 Biennium Close Cutoff Dates:
July 10, 2019: Recommended last day to transfer expenses which require central office review.
July 17, 2019: LAST DAY to submit expense transfers which require central office review.
July 24, 2019: LAST DAY for campus and central office users to submit expense transfers and MyFD JVs.
July 26, 2019: Dean's Day - Only users who have the ASTRA authorization of "Biennium Close JV/Transfer (Deans/VPs)" may submit expense transfers and approve JVs through MyFinancial.Desktop (MyFD). This should be used as a last resort. Every effort should be made to process expense transfers and JVs by July 24th for proper posting.
You can view the deadlines for MyFD on our Crossover Calendar.
What is a Fiscal Year and Biennium?
A biennium is made up of two fiscal years:
- Months 1 through 12 encompass the first fiscal year.
- Months 13-25 (25 represents the additional accrual period) encompass the second fiscal year.
Washington State Legislature defines a biennium as the two year period (made up of two fiscal years) running from July of an odd year through June of the next odd year (e.g. July 2017 - June 2019). University State Funds are budgeted, accounted for and reported to the State for the fiscal biennium. The process of closing a biennium is referred to as “Biennium Close.” The University of Washington generally plans and budgets funds for State Budgets on a fiscal year basis. They also generate an Annual Report on a fiscal year basis that presents an annual statement of the University of Washington’s Finances.
How will my budget be impacted by Fiscal Year and Biennium?:
All budgets are affected by fiscal year and biennium close processes. The biggest impact is to state budgets. It is important to understand the unique nature and processing times of each system. The following information is supplied to help highlight recommendations and unique charateristics of MyFD.
Budgeted and Transaction Amount Availability
- During Biennium Crossover periods, MyFD may not display budgeted or transaction amounts. Budgeted amounts are not available in the University’s financial systems, including FIN/FAS and the Budget System (BGT) for any budget type until after all final calculations for the closing biennium are complete.
- When budgeted amounts become available, they are uploaded to the Budget System and Financial Systems; this generally occurs in late August. There is a one day delay between the upload to FAS and the availability of data in MyFD.
Expense Transfers (Learn more)
- Campus individuals may only submit expense transfers for processing with the access role and action of "User/Expense Transfer" in ASTRA.
- Individuals with the access role and action of "User/Inquiry" in ASTRA may prepare expense transfers, which will then be submitted by the person(s) in their department with role and action of "User/Expense Transfer."
- MyFD is the only system through which you can process salary expense transfers.
Reconciliation (Learn more)
- We highly recommend that transactions be reconciled frequently during crossover periods. This will provide the opportunity to correct any errors you might find in order to meet processing deadlines.
Final reconciliation notices are displayed on the MyFD (application) homepage and sent in email notifications to our newsletter subscribers. These messages are usually updated in late August and indicate that all transactions have been processed and posted and that reconciliation activities may be completed (no further transactions will post).