Fiscal Year Close Known Issue
The Fiscal Year Close (Step 15 of the Finance EOY Process) may display an incorrect failure status after users select Process Status. The process generally continues running and completes successfully.
LEAs should confirm completion by logging out of Finance and logging back in, verifying both School Year and Account Period update and reviewing validation reports such as the General Journal and Finance Inquiries.
A full Finance backup is strongly recommended before starting the Fiscal Year Close and is required for troubleshooting.
TCC is working on a fix that will be released in a future release.
Program Intent Codes (PIC) Reminders
Beginning in 26-27, PIC 26, 28, 29 and 30 will be removed from the FASRG and may no longer be used. The use of PIC 24 is strongly encouraged but not required. When reporting expenditures in PIC 24, the expenditures will be automatically rolled into PIC 11 for reporting purposes. LEAs can use PIC 11 or PIC 24 for expenditures previously coded to PICs 24, 26, 28, 29, or 30.
As a reminder, we had suggested maintaining the original PIC codes in Budget, while you were still updating the budget data for the 25-26 year. If handled this way, the “old” PICs will still exist in Budget until you are ready to complete the Finance EOY Process and move your budget into Finance for the new year.
Then, prior to moving your approved budget into Finance, create a backup of your budget, by going to Budget > Utilities > Export by File ID and export File ID “N”. Next, crosswalk all of the account codes with the PICs that are going to removed to the appropriate PIC, via the Budget > Utilities > Mass Change Account Codes > Mass Crosswalk utility. This will allow you to update the account codes in Budget, so that they are correct when you move budget to Finance.
After this is done, we recommend that in Budget, you crosswalk those accounts back to what their PIC code was before, so they will exist in budget next year when you work on finalizing the 25-26 year in Budget for historical purposes. The other option would be to import the budget backup made prior to completing the mass crosswalks.
As a reminder, the EOY processes for June Fiscal Year-Ends were reviewed in trainings held earlier this month. If you were unable to attend, please review the recordings that are located on the IMS Business website > Trainings/Recordings page.
If you have any questions regarding these announcements or have any questions regarding the EOY Processes, please submit an ESC-16 ASCENDER ticket.