The University's fiscal year end is June 30. Each fiscal year end
the University closes its financial records and prepares financial
statements in accordance with generally accepted accounting principles
(GAAP). These statements are audited by a qualified external firm
selected by the Board of Regents' Finance Committee. In addition, the
University reconciles its general ledger accounts and reviews operating
account activity monthly to provide reasonable assurance that the
financial records are not misleading or contain material errors.
The purpose for gathering and reporting financial information are to:
The Controller's Office maintains the financial records of the
University. Each financial transaction is recorded in the accounting
system by date, description, account, and dollar amount. This
information, available online, is used to prepare monthly and annual
Note: Financial records for the McGeorge School of Law prior to 7/1/05 are maintained by that campus.
The responsibility for financial reporting is shared between the
Controller's Office and the schools and departments of the University.
Expenditure Authorization Policy.
Contact Financial Reporting for additional information.
Expenditure Authorization Policy