Fiscal Year End
Business and Finance: Year-End Processing
Activities and Deadlines:
| Friday, May 1, 2026 | Requisitions that require sealed bids for products and services $100,000 or more must be entered and approved in Voyager |
| Friday, May 15, 2026 | Audits, pre-audits, in-range adjustments, and promotions for FY26 due to Human Resources |
| Friday, May 22, 2026 |
Approved budget revisions for travel and supplies for FY26 to Budget and Finance. In accordance with approved university policy, any budget account which reflects an aggregate over-run on travel, operating and equipment at the end of the fiscal year may have the amount of the over-run deducted from the following year’s allocation. The reviewing official will identify the source for which the reduction will be made. |
| Friday, May 29, 2026 | Process FY26 purchase requisitions that do not require sealed bidding (less than $100,000) |
| Monday June 1, 2026 | The last day for spending (check requests, purchase requisitions, procards, and punchouts) in Voyager using 2025-2026 funds is June 1, 2026. This includes university, grant and foundation accounts. |
| Monday June 1, 2026 | Receipt all items received before June 1st and all invoices received that have not been sent to AP. All purchase orders created prior to 7/1/25 should be closed. Contact procurement to close these purchase orders. |
| Monday June 1, 2026 | Department Financial Managers should review salaries paid on capped awards/project to ensure compliance with the Agency Salary Cap limitations and initiate payroll expense transfers as appropriate. Salaries charged to NIH awards/projects cannot exceed the cap and are subject to audit disallowances. |
| Wednesday, June 10, 2026 | Last day for approved Labor Distribution Schedules for FY26 |
| Wednesday, June 10, 2026 | Non-exempt/Biweekly ICPs, Salary Changes, FTE Changes for inclusion in the 6/18/26 Biweekly Payroll |
| Thursday, June 18, 2026 | All FY26 blanket purchases ordered are cancelled by Purchasing |
| Monday, June 22, 2026 |
All petty cash and new loan activity (Perkins, SGA, short-term loans, etc.) ends for FY26. All Petty Cash funds will be called and counted prior to June 30th and are subject to re-count by Internal Audit or State Audit. |
| Friday, June 25, 2026 | Non-exempt/Biweekly ICPs, Salary Changes, FTE Changes for inclusion in the 7/2/26 Biweekly Payroll |
| Friday, June 26, 2026 | Last day to request a student balance of aid check disbursement |
| Monday, June 29, 2026 | Last day for HR onboarding (Onboarding will resume on July 13, 2026) |
| Tuesday, June 30, 2026 | All funds on hand must be deposited with the cashiers in Financial Services before 11:00 a.m. |
| Tuesday, June 30, 2026 | All Contract & Grant PPM project deficits must be cleared. Please note that clearing deficits at the Award level is not sufficient (each project must have a positive or zero balance) |
| Tuesday, June 30, 2026 | Finalize pending transactions that will resolve and eliminate deficits in all funding sources. Department financial management responsibilities include taking action on deficit situations throughout the year and completely resolving them by year-end. |
| June 22, 2026 - June 30, 2026 | Arrange and return outstanding gift card and distribution listings to the Bursar’s Office |
| Tuesday, June 30, 2026 | Last check run by 2pm. |
| Wednesday, July 1, 2026 | Orders for the new 2026-2027 fiscal year can be entered into Voyager. |
| Beginning Monday, July 6, 2026 | New year purchase requisitions will be entered into Voyager (FY27 budgets are available) |
| Monday, July 6, 2026 | New FY26 purchase orders are released to suppliers by Procurement |
| Tuesday, July 7, 2026 | All Account/Notes Receivable information must be submitted to Office of Financial Services. All requests and accounts/notes receivable information should be received by Erica Fletcher in the Office of Financial Services before 4:30 p.m. The accounts/notes receivable information should be listed in TBR format showing aging, accrued interest, deferred, etc., which has been provided to each department routinely recording accounts receivable. |
| Friday, July 10, 2026 | Last day for any June journal entries and approved budget revisions. |
| Friday, July 10, 2026 | Last day for any cost corrections and internal billings to capture FY26 transactions. |
| Wednesday, July 15, 2026 | LAST DAY TO RECEIPT ITEMS IN VOYAGER for FY26. Departments should continue to create receipts for FY27 in Voyager for goods and services as soon as they are received fully and in good order. |
Payroll:
| Payroll – Your department’s FY26 budget will be charged for all salaries and wages earned on or before June 30, 2026. Your department’s FY27 (next year’s) budget will be charged for all salaries and wages earned on or after July 1, 2026. Wages earned in the bi-weekly pay period beginning on May 31, 2026 and ending on June 13, 2026 will be paid on June 18, 2026. The payroll distribution report for June 2026 will reflect these charges. |
| Accounting will process an accrual prior to the preliminary June closing for the FY26 expense earned for the pay period June 14 through June 27 which is paid on July 2 . The payroll dates of June 28-30 will also be accrued, which is part of the pay period from June 28 through July 11 , paid on July 17 . The accruals will be automatically reversed in FY27. The payroll distribution report for June 2026 will not reflect these charges since they are paid in FY27 (July 2026). |
| Regular salaries for faculty and staff paid monthly are not accrued since they will be paid on June 30, 2026 |
Prepaid Expenses:
| Sometimes, especially during the latter part of the fiscal year, it is necessary to prepay expenses relating to the following year’s (FY27) budget. This often occurs with maintenance and service contracts, fees for seminars, membership dues, and subscriptions. Submit invoices to Accounts Payable marked “FY27 Prepaid Expense.” After verifying dates of service, AP will charge these expenses to a prepaid general ledger account in FY26. These payments will not be reflected on your FY26 budget. |
| In July 2026, Accounts Payable will prepare the documentation for Financial Accounting to prepare the journal entry (Oracle category = Prepaid) to charge these expenses to the appropriate departments. The payments will be reflected on your FY27 budget. |
Deferred Income:
| When ETSU receives income in advance of providing the service, it is considered deferred
income. The income is recorded in the year the service is rendered, not when the payment is received. If you receive a payment in FY26 for services to be provided in FY27, let Financial Accounting know to record the income in your department's deferred income account. |
Forms & Travel Expense Reimbursements:
| Procurement Services & Accounts Payable will verify the accrual of Purchase Orders and Invoice Payment Forms >$5,000 and Travel Expense Reimbursements for FY26 starting Monday June 23 until Friday, July 4 at 4:30 p.m. The goods or services must have been received by June 30 and the travel date must have started on or before June 30. |
Purchase Orders:
| At the close of business on Wednesday, July 2, purchase orders goods received in Oracle by Central Receiving on or before June 30 and not yet invoiced will be automatically accrued by the Procurement Services Office. These items will be charged to your department’s FY26 budget through the accrual process and will be reversed automatically in FY27. When the invoice arrives, it will be processed and paid in FY27, with no impact to your FY27 budget. |
| Create PO Receipts and Approve invoices for Payment. The Oracle PO status must be received and the invoice approved (if applicable) via Oracle workflow before the expense posts to the ledger and payment is issued. Please ensure related purchase orders are marked as received in Oracle when goods or services are received to avoid delays in payment to the supplier and posting of expenditures to the ledger. |
| Departments are responsible for preparing accrual entries for services. Invoices for services must be obtained from vendor and submitted to AP. |
Invoice Payment Forms:
| For all goods and/or services received on or before June 30 for which the vendor has not provided an invoice and goods not received in Oracle, departments should notify accounts payable to prepare an accrual journal enty. |
| Invoices and Reimbursable Receipts for goods or services received prior to June 30th will be charged to the current FY 25-26 budget. Any reimbursable invoices or receipts for goods or services received after July 1st will be charged to the new FY 26-27 and will need to be entered in Voyager Expenses. |
Procurement Card Purchases:
| The closing date for items to appear on your June procurement card statement from
US Bank is June 30. If you make last minute purchases the transactions may not be charged against your FY26 budget. |
Encumbrances:
| When an item is purchased on a purchase order, encumbrance entries are made automatically in the general ledger to record the anticipated expenditure. An encumbrance is not an expense; it is for information and budget planning purposes only. The actual expense is not charged to your department’s budget until the merchandise or service has been received and the invoice is paid. |
| Review Open Encumbrances: Each department should review purchase order encumbrances in Voyager against their accounts for items that should be unencumbered. (Ex. Blanket orders against which no additional orders will be placed, remaining items on the PO that have been canceled by the company, invoice was less than the PO amount and remaining encumbrance needs to be canceled, etc.). Send an email to Accounts Payable to request encumbrance removals for purchase orders. Only send notification to cancel a purchase order AFTER FINAL PAYMENT against the PO has been completed in Voyager. |
Criteria for Material Transactions:
ETSU has established the following criteria for determining whether a transaction
is material for reporting purposes:
|