We are writing to provide you with important information and upcoming deadlines related to Budget & Planning fiscal close.

Current year temporary transfers will be processed until 5pm on Tuesday, July 7. We will not be able to grant any extensions after this deadline. Departments should conduct a pre-close ledger review ahead of this deadline to:

  • Prepare transfers of resources to support instructional workload
  • Review Activity Code Sources
  • Calculate YTD Net Operating (Surpluses)/Deficits
  • Process temp transfers to align corresponding revenue/funding sources to specific program and activity codes

Please do not initiate transfers to reallocate account subgroup balances within a single fund.

The following FinHub reports are useful to reference when looking at budgets and actuals:

  • Budget vs. Actuals Report (Report Area = Operating Financials)
  • Budget Transactions Report (Report Area = Budget Planning)

Elimination of Subgroup Transfers

Effective immediately for current and future fiscal close cycles, departments no longer need to submit budget adjustments to zero out budget-to-actual balances within individual natural account subgroups, formerly known as "Subaccounts" (i.e. Salaries, Supplies, Travel, etc.) 

Moving forward, account subgroups within a FRU/fund can retain positive or negative variances between budgets and actuals at fiscal close. All natural account financial balances within a single FRU/fund will be automatically consolidated and swept into that fund’s total year-end carryforward balance and displayed as beginning balance forward in the next fiscal year. Annual Plan results will determine the loaded account subgroup budgets for the following year, not the in-year variance.

This will help to reduce administrative hours spent identifying subgroup variances and processing transfers to eliminate deficits or clear surpluses. Transfers should still be conducted to clear financial deficits that exist at the FRU/Fund level [Net Operating (Surplus)/Deficit in the “Budget vs. Actual - Summary” report].

Program & Activity Code Revenue and Expense Alignment

If your department uses Program or Activity Codes to isolate and track specific departmental expenses for events or initiatives (e.g., conferences, specialized programs), intentional action is required to ensure the source side includes the appropriate amounts by codes. Failure to balance Program or Activities by sources and uses could result in a negative carryforward within the code and a positive carryforward within the 000-Program or 000000-Activity, which will obscure results.

Carry Forward 

Ending carry forward balances for FY26 will be calculated after fiscal close, likely in August or September. At that time, the Budget Office will review campus balances from FY26 and begin the carry forward process for FY27.  

For specific questions or further assistance with any of these process updates, please reach out to your designated control point or email bap-inquiry@ucsb.edu.