Balance Info out of date during the Fiscal Year End (most of July)

Due to fiscal year-end processing, ONLY the transaction, personnel, and proposal data is updated between July 1st and about July 26th.

Balances, and all other data that is not on the Personnel, Transactions or Proposals pages, display data as of June 30th until regular updates continue on or after July 26th.

Here are the details:

The account budgets and ending balances from one fiscal year are not loaded into the next fiscal year until the fiscal year closes. This means the balances available for us to use in the datamart are wildly wrong. Rather than show incorrect data, we show data that's out of date.

Technically, what happens is that the account balance from the prior fiscal year is in the "year-end" period. This is a sort of virtual 13th month. The balance is kept there until all the year-end processing is complete, at which point the remaining balance is transferred to the next fiscal year. Meanwhile all the expenses during July are reflected in in the July period, not the year-end period. Since the July period has no beginning balance or budget, the resulting balance for July is normally zero or negative, which is not what you want.

What if you need to know your current available funds balance? The best option is probably to ask your research administrator or financial staff. They can use Web Financials to sum up the year end period and July period and make allowances for accounts that revert to $0 (not normal for research or faculty discretionary accounts).