Budgets that continue from the 2019-2021 biennium into the 2021-2023 biennium:.We recommend if you are creating a Contract Request (CR), Requisition (S) or Non-PO Invoice with a budget that expires on that the transaction be held until July 8th when the new budgets are available.Budgets that expire on 6/30/21 cannot be used to make payments use of expired budgets will delay payment.Re-set your Preferences with a new 2021-2023 biennium on July 8th (see our Tutorials webpage for training on changing Ariba Preferences) Expired 2019-2021 budgets are removed from Ariba default budget Preferences.Budgets that expire in the 2019-2021 biennium ():.July 8th is the first day budgets for the 2021-2023 biennium will be available in Ariba.You can learn more about any planned system downtime, or unavailability on the System Availability page. It is important to note that various systems may be unavailable, for the processing of transactions. The Biennium Cutoff Dates are the final dates on which various transactions must be received, and or processed, to ensure recording for biennium business. To comply with Washington State accounting procedures for closing out the current Biennium, the University's books of account will be held open for a limited time during the month of July to record transactions processed after June 30 relating to business of the expiring fiscal period. What does this mean to the University of Washington?
#Budget calendar printable 2019 series
There are a series of steps leading up to this cutoff. Biennium close occurs when transactions can no longer be put into the old biennium. Biennium crossover is the period of time when the old and new biennias are both open. For a short period of time, two separate sets of records are open, one for the new biennium and one for the old. This allows UW to record its financial transactions to the appropriate time period. At the UW a biennium begins in July of an odd year and concludes at the end of June two years later.įor a month or so after the day a given biennium ends (which is usually June 30), we continue to record revenues and expenses that pertain to the old biennium in the old biennium. During a biennium revenue and expenses are recorded.Īt the conclusion of the biennium the records are closed and a new set of records is opened and a “new” biennium is created. Each two-year period is called a “biennium”. Many governmental organizations, including the University of Washington (UW), divide their accounting records into two-year periods. Payment Information During Biennium CloseĬutoff Dates Calendar What is Biennium Close? Important: Please check calendar below for revised biennium dates in the coming months.