Fiscal Year-End Reminder for Departments

As we approach the end of the fiscal year, please note the following accounting policies:

For Budget Officers

• Invoices & Credit Card Charges: Only expenses for materials received or services rendered on or before June 30, 2025 will be recorded as 2024-25 expenditures.
• Post-July Expenses: Materials received or services rendered on or after July 1, 2025 will be recognized in the 2025-26 fiscal year.
• Conference Expenses: Registration, hotel, and airfare for conferences occurring on or after July 1, 2025 will be charged to 2025-26, regardless of when payment is submitted. Expenses are recorded based on the event date, not the payment date.

For All Departments

• Travel Reimbursements: Submit reimbursable expenses promptly, within the 60-day limit set by the IRS.
• Year-End Reimbursements: Expenses incurred before June 30 must be submitted within 15 days of the fiscal year-end.