Kentucky State University Business Policies and Procedures Manual
Responsible position(s):
Controller
Required documents and access:
Banner
Frequency and timing:
Annually after period 12 month-end has been completed
Steps:
Entries to post to accrual period:
Changes in accrued PTO
Changes in accrued assets/liabilities related to Pensions/OPEB
Accrued lease/bond interest payable
Bad debt allowance / write off
Current portion of debt and lease liabilities calculations
Deferred revenue for tuition or grant prepayments
Non-current portion of prepaid expenses
Investment accruals
Discount on pledges/grants receivable
Fixed assets adjustments
Fiscal Year-end Close
Once the audit has been issued and all audit adjustments have been posted, the fiscal year can be closed in the system.
Responsible position(s):
Controller
Required documents and access:
Banner - refer to Ellucian for step-by-step system requirements
Frequency and timing:
Annually after the audit has been issued