The following communication was sent by Interim Controller Laura Bonner to Administrative Officers, Deans, Department Chairs, Directors, Vice Chancellors and Vice Provosts.
Key Takeaways
- The 2024-2025 Fiscal Close Calendar & Procedures website is now available
- Departments should closely monitor financial activities throughout the close period, which mainly occur between May 28 and July 14
- Departments must abide by year-end deadlines as exceptions are rarely granted
The UCLA Controller’s Office is pleased to announce that this year’s fiscal close calendar, related schedules, and resources are now available in full on the 2025 Fiscal Close Calendar & Procedures website.
A successful close requires a strong partnership between campus units and the Office of the Vice Chancellor & Chief Financial Officer. Together, we will ensure UCLA’s financial activity from July 1, 2024, through June 30, 2025 (the current fiscal year), is accurately recorded in UCLA’s general ledger and appropriately reported on the University of California annual financial report.
Recognizing the complexity of fiscal close, we’ve prepared detailed materials to help guide you and your department.
Calendar Overview
The Fiscal Close Calendar consolidates fiscal year-end activities and procedures for the CFO organization. It is designed to prepare departments for the Preliminary General Ledger close, with most activities scheduled to take place between May 28 and July 14, 2025.
The calendar is highly coordinated with many interdependent activities. Please carefully review the provided deadlines and reach out in advance if you have questions — there is little flexibility for exceptions.
NOTE: This year’s calendar includes a live activity feed that allows you to quickly view and add upcoming cutoff dates to your personal work calendar.
May
As announced in the May 2 communication, most procurement activities (e.g., requisitions, change requests, invoices) as well as reimbursement approvals are due May 30, 2025, for processing and payment in fiscal year 2024 - 2025.* Access the calendar for specific transaction details and considerations.
*PCard purchases are due May 28.
June – July
Campus departments must complete transactions by each deadline and closely monitor financial activity.
- Because deadlines vary by transaction type, departments should review the calendar in detail to ensure their financial activity is appropriately recorded.
- As an update this year, Accounts Payable and Travel Accounting will complete all non-exception processing by June 18 at 5:00 p.m., allowing campus to review the ledger on June 20 and submit all accruals by June 30.
- Most revenue and expense transactions will post before July 7. Central adjustments will post through preliminary close on July 14, 2025.
August – September
The central finance team will finalize close information and support an external audit for the UC annual financial report. Users will be able to review and report on transactions at the end of each month. However, due to the impact of ongoing fiscal year-end processes, final balances for July and August are not available in the ledger until September.
Please refer to the Schedule of Data Availability on our website for more information about General Ledger data availability for the June, July, and August final ledgers. Departments are encouraged to share this schedule with their IT and reporting teams.
Support Materials
Policies & Guidelines
Departments are asked to review policies and guidelines related to fiscal year-end procedures. This includes existing policies, such as the Disposition of Unexpended Balances and SAS 115 UCLA Key Internal Controls, and new guidelines / requirements for deficit resolution and year-end balancing.
Help Desk
Please submit any questions related to the annual close process to the associated activity owner listed on the 2025 Fiscal Close Calendar & Procedures website or via the general Fiscal Year-End Closure Inquiries form.
Targeted communications and reminders will be sent throughout the coming months, including:
- May: CAO/CFO Annual Certification Questionnaire and Fiscal Year 2024-2025 Inventory, Accrual, and Deferral forms and instructions
- June: Deficit Resolution Policy and Year-End Balancing Requirements
A successful close is of the utmost importance for UCLA’s financial stewardship, helping us remain accountable, transparent, and compliant with internal and external obligations. This process also allows us to provide the precise data that is critical to sound decision-making across the UC system.
Your efforts in managing the University's resources wisely and effectively are appreciated. Thank you for your contribution to an accurate and timely 2024-2025 close.
Sincerely,
Laura Bonner
Interim Controller
Office of the Vice Chancellor & Chief Financial Officer
