[Msoadm] FY26 Fiscal Close Weekly Update – 5/21 to 5/28

[Asirra Suguitan]

Dear Colleagues,

As we continue through FY26 Fiscal Close activities, we would like to share
important reminders, upcoming deadlines, recent updates, and available
support resources for the upcoming weeks.
Key Upcoming Deadlines & Reminders

Please review the upcoming deadlines and activities scheduled over the next
7–10 days. Some deadlines may continue appearing in multiple weekly updates
leading up to the due date to help support awareness and planning.

Responsible Office/Contact

Deadline

Cutoff Time

Action

Description

Financial Planning & Analysis

05/21/26

5:00 PM

Inter-location Transfer of  Funds (ITF)

Memos requesting transfer of funds (budgetary) between campuses must be in
the FP&A by this deadline. This cut off date/time applies to all UC
Campuses.

ITF allocations not appearing on the May ledgers will not be processed
until the new fiscal year. Please be sure to coordinate with the “sending”
campus as soon as possible to receive your ITF allocations.

General Accounting (Accounting Office)

05/22/26

5:00 PM

Review BC60 transactions for classification criteria

Review BC60-Inventorial Equipment for correct classification and initiate
corrections. Review all transactions posted to BC60 to ensure the item
purchased meets the criteria for Inventorial Equipment: a unit cost of
$5,000 or more including sales tax, freight, and installation charges, and
a useful life of 12 months or more.

Particular attention should be given to transactions charged to Sponsored
Projects and/or classified as 560260-Rental Allowance, 560290-Animals, and
560295-Furniture. In most cases, the $5,000 per unit cost is not met, and
these transactions are operating expenses. These items must be reclassified
to an appropriate expense account, such as 541000 - Furniture Non
Inventorial or 541370 - Lab Supplies Other.

This is an ongoing activity that should be performed throughout the fiscal
closing process. Direct questions to equipment at ucr.edu.

General Accounting (Accounting Office)

05/22/26

5:00 PM

Review Fabrications to close out

Ensure fabrications are closed out and reported to General Accounting for
assignment of a property number. In the event a fabrication does not result
in a functional piece of equipment that meets inventorial equipment
criteria (i.e., unit cost of $5,000 or more and a useful life of 12 months
or more), prepare and submit a cost transfer request to reclassify all
expenses from account 560220 (Equipment Fabrication) to the appropriate
operating expense accounts. Direct questions to equipment at ucr.edu.

Accounts Payable (Accounting Office)

05/26/26

5:00 PM

PCard Expense Reports approved in Concur

Please ensure all outstanding charges from prior statements are immediately
distributed to an appropriate COA and approved. Unit PCardholders and/or
designated Department Admins are responsible for distributing charges
weekly in Concur or risk revocation of the cardholder’s privileges. As a
reminder, designated department approvers must take action by reviewing and
approving in Concur so the transactions can be submitted to Oracle.

Academic Personnel & Accounting Office

05/28/26

5:00 PM

Identify Salary Cap Payroll (UCPath) Adjustments

Department Financial Managers, Department FAOs, and Organization CFAOs
should review salaries paid on capped awards/projects to ensure compliance
with the Agency Salary Cap limitations and initiate payroll expense
transfers as appropriate.

Note: NIH cap include Payroll Direct Costs + Indirect Costs

Campus NIH guidelines revised on 3/23/2026:
https://academicpersonnel.ucr.edu/compensation#local-compensation-policy-and-
Change Log Updates

There were no updates to the FY26 Change Log this week.

We encourage you to review the Change Log regularly to ensure you are
working from the most current information.
Fiscal Close Resources & Upcoming Office Hours

All FY26 Fiscal Close resources are available on the Fiscal Close webpage
<https://accounting.ucr.edu/FY26-Year-End-Close>, including the Schedule &
Deadlines, Change Log, Key Contacts, Office Hours recordings and materials,
reports, forms, and training resources.

For questions, please contact the responsible office listed in the Key
Contacts section, or email fyclose at ucr.edu if your situation is not
addressed.

Departments are also encouraged to attend upcoming Fiscal Close Office
Hours for questions and support.

Link to Join: https://ucr.zoom.us/j/95091586921

   -

   Wednesday, June 3 | 1:00–2:00 p.m.
   -

   Thursday, June 18 | 2:00–3:00 p.m.

Thank you for your support in achieving a successful fiscal close.

Sincerely,

*Asirra Suguitan*
Associate Vice Chancellor and Campus Controller
Business & Financial Services
http://bfs.ucr.edu/
[image: ucr-logo-email]
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