Transcript Lapse Guidelines

LAPSE
GUIDELINES FOR
FISCAL YEAR-END
BALANCES
Lapse Guidelines – Educational & General Funds
 Disposition of E & G balances are based on each Vice
President’s direction for their areas
 Prior to year end, Budget Office sends year end balance reports
to Primary Financial Area Reps for processing budget transfers
 E&G remaining balances should be zero
 Any negative balances are addressed and cleared
 Certain accounts are not subject to the lapse, including VP
reserves, GIT & lab fees
 Special Items & Research Development Funding must be
fully expended in FY 2015 since this is the 2nd year of the
biennium.
Lapse Guidelines - Designated Funds
 Disposition of centrally funded Designated account balances are
based on each Vice President’s direction for their areas.
 Prior to year end, Budget, Planning & Development Office will
provide negative year end balance reports to Primary Financial
Area Reps for processing budget transfers
 Budget Transfers are completed as determined by VP Area
 Any negative balances are addressed and cleared as appropriate
Certain Designated Accounts are not subject to lapse and
roll forward:
 Most designated accounts sourced from fees
 Facilities & Administration (F & A) accounts
Centrally funded E&G and Designated Cost Centers
Recap by VP Area - FY 2015
 President’s Office – department balances at year end will roll forward
 Academic Affairs – department balances in E&G cost centers will lapse to
VPAA reserve and designated balances at year end will roll forward. The
Provost will lapse amounts that exceed the 30% cap of the designated tuition
operating budgets.
 Business Affairs – department balances at year end will roll forward
 Community Services – department balances at year end will roll forward
 External Relations – department balances will lapse to VP External Relations
reserve
 Research – departmental balances will lapse to VP Research reserve
 Student Affairs – department balances will lapse to VP Student Affairs reserve
For questions, please contact your Financial Area Representative
Remaining Balance - Service Centers
 Not subject to lapse (carry forward 100%)
 Any surplus/deficit exceeding 10% requires special
exception and approval of AVP-Financial Affairs
 Monitored by Controller area
 Subject to Service Center Policy for compliance with
OMB Circular A-21.For questions please contact:
- Shannyn Adkins x4229
Remaining Balances - Other Fund Groups
Year-end balances in the following funds are not subject
to lapse (carry forward 100%):
 Grant and Contracts
 Auxiliary Enterprise
 Gift/Restricted Funds
 Plant Funds