FY26 Fiscal Close Weekly Update – 5/21 to 5/28

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@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@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-