Year End Information

Texas Woman's University's fiscal year begins September 1, 20xx and ends August 31, 20xx.

Deadlines are established annually to assist departments in completing fiscal year purchases and payments, as well as planning for the new fiscal year.

• Funds 10, 12, and 14 are closed at the end of each year.  All remaining balances are removed and new funds are budgeted for the new fiscal year.  
• For Funds 10, 12, and 14, consumable items must be ordered, received, and paid for in the same fiscal year.   It is important to anticipate this issue in a timely manner at the end of the fiscal year so that merchandise can be received and paid for before the fiscal year closes.  
• Travel expenditures must be reimbursed using funds from the fiscal year in which the travel occurred.    
• Departmental accounts beginning with Funds 11 and 19 must follow end of the year deadlines. Open Purchase Orders will be transferred to the next fiscal year.  
• Grant contracts have various award year end months. The deadline for encumbering funds is the 15th of the month the grant year ends (i.e. grant ends March 31, encumbrances close March 15).