The Year-End Financial Checklist is an annual process coordinated by the University Controller’s Office to ensure units complete required fiscal year‑end activities and confirm the accuracy of their financial reporting, internal controls, and overall financial oversight. The checklist activities support timely financial close, strengthen accountability, and help the University meet state, federal, and audit reporting requirements.
How the Process Works
Each year on June 1, the Controller’s Office distributes a web‑based checklist form to designated departmental or unit contacts. These contacts are responsible for:
- Distributing checklist questions to the individuals within their unit who manage cash handling, revenue, expenses, payroll, inventory, reconciliations, grants, or other financial processes.
- Collecting and consolidating responses from sub-units or departments as needed.
- Entering responses into the web form and attaching required explanations or documentation for any “No” or “N/A” answers.
- Submit the completed checklist through the online system.
Review and Approval Workflow
Once submitted:
- The Unit Contact reviews the consolidated responses and marks the checklist as reviewed.
- The checklist is then routed to the Dean or Unit Head for final approval, confirming the organization’s year‑end financial activities, oversight practices, and compliance with University policy.
Sub-unit checklists (if used) feed into the master checklist but do not require approval; they serve as input for the main unit-level submission.
Purpose of the Checklist
The checklist helps ensure that:
- Units maintain appropriate financial oversight and internal controls.
- Financial results are complete, accurate, and properly recorded in Workday.
- Material issues are identified early and communicated to the Controller’s Office.
- University leadership can sign required state, federal, and audit certifications with confidence.
- Areas needing additional training, clarification, or policy guidance are surfaced before year-end reporting deadlines.
Deadlines/Timeline
- Early June – Checklist released.
- Mid-July – Recommended deadline for sub-unit submissions.
- Late July – Final deadline for the approved Master Checklist.