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Fiscal Year End / Biennium Reporting

MyFDs will always post to the current open month, and therefore the "Current" period is set as the default for MyFD JVs. The only time "Prior Fiscal Year" is available is during fiscal year end and biennium close.

A fiscal year is named for the calendar year in which it ends

  • i.e. Fiscal Year 2017 runs July 2016 - June 2017

A biennium is named for the calendar year in which it starts

  • i.e. Biennium 2017 runs July 2017 - June 2019

There are two fiscal years in each biennium, so Biennium 2017 includes Fiscal Year 2018 and Fiscal Year 2019

MyFD Month Close occurs on JAMDYPEOM3/JAMDAYEOM3 on the Financial Accounting System (FAS) Production Schedule, except during Biennium Close and Fiscal Year Close.

Note that the MyFD Home page publishes the month close message the following day. This is because the close typically happens at night and campus will not see the update until visiting the MyFD Home page the following day.

To view the FAS Schedule, please visit the Learn About FIN webpage provided by Financial Accounting. On this webpage, under Schedules, select either the Detail or Summary FAS processing schedules. The calendar will show the scheduled JAMDYPEOM3/JAMDAYEOM3 for the current calendar year as well as past years: http://f2.washington.edu/fm/fr/resources/learn-about-fin

During Biennium Close, the final June month close occurs on JAMOLDDYPEOM/JAMOLDDAYEOM in July.

During Fiscal Year Close, the final June month close occurs on JAMDYP12AEOM/JAMDAY12AEOM in July.

Dean's Day access must be granted in ASTRA for the budget you are transferring from, not the budget you are transferring to. Check ASTRA to make sure that your access is correct for the budget you are transferring from. If your access looks accurate, please contact us at myfdhelp@uw.edu to review the transaction.

You can transfer to or from a GRANT budget from a closed biennium, as long as the grant still exists in the current biennium. Additionally, both the transfer to and transfer from budget(s) must be open to expenditure transfers. You may not transfer to or from a state budget from a closed biennium.

During the Biennium Crossover periods (June, July, and August of odd years), MyFinancial.desktop (MyFD) may not display Budgeted Amounts. Budgeted amounts for biennial budgets are not available until late August, after all final calculations for the closing biennium are complete. Until this time, there are no budgeted amounts available in the University's financial systems, including FIN/FAS and the Buget System (BGT)

Even though we know the budgeted amount for grants, during the Biennium Crossover period, all budgeted amount data becomes unavailable in the University's financial systems. When the budgeted amounts for biennial budgets become available, budgeted amounts for ALL budget types, including grants, are uploaded to the Budget System and Financial Systems; this generally occurs in late August. At this point, the budget balance for grants will be re-displayed in MyFinancial.desktop.

Journal Voucher

MyFDs will always post to the current open month, and therefore the "Current" period is set as the default for MyFD JVs. The only time "Prior Fiscal Year" is available is during fiscal year end and biennium close.

Reconciliation

MyFD Month Close occurs on JAMDYPEOM3/JAMDAYEOM3 on the Financial Accounting System (FAS) Production Schedule, except during Biennium Close and Fiscal Year Close.

Note that the MyFD Home page publishes the month close message the following day. This is because the close typically happens at night and campus will not see the update until visiting the MyFD Home page the following day.

To view the FAS Schedule, please visit the Learn About FIN webpage provided by Financial Accounting. On this webpage, under Schedules, select either the Detail or Summary FAS processing schedules. The calendar will show the scheduled JAMDYPEOM3/JAMDAYEOM3 for the current calendar year as well as past years: http://f2.washington.edu/fm/fr/resources/learn-about-fin

During Biennium Close, the final June month close occurs on JAMOLDDYPEOM/JAMOLDDAYEOM in July.

During Fiscal Year Close, the final June month close occurs on JAMDYP12AEOM/JAMDAY12AEOM in July.

Transfer of Expenses

Dean's Day access must be granted in ASTRA for the budget you are transferring from, not the budget you are transferring to. Check ASTRA to make sure that your access is correct for the budget you are transferring from. If your access looks accurate, please contact us at myfdhelp@uw.edu to review the transaction.