After that date, all petty cash disbursements will be charged to FY 1998-99. The only exceptions to this will be pay documents for faculty scheduled for summer school. A memo outlining closing procedures specific to grants and contracts is forthcoming. Departments responsible for maintaining student deposit accounts and student receivable accounts will be contacted separately to confirm outstanding balances as of June 30, 1998. As always, if an account goes into credit balance, it needs immediate attention.
Prompt action is even more important during the closing period.
As previously stated, these dates should ensure an orderly closing process, and are necessary to meet our annual reporting deadlines. Thank you for your continued cooperation. This threshold for materiality has been agreed upon with the external auditors.