2014-2015 Closing of the Books

Thank you for all your assistance in following the year-end closing instructions.  The accuracy and timeliness of year-end closing are critical to the preparation and audit of the final annual financial statements for the Oregon University System as well as individual annual financial statements for EOU, Oregon Tech, SOU and WOU.  The closing instructions are divided into two groups: 1) Banner FIS Year-end Closing Instructions, and 2) Banner Fixed Assets Year-end Closing Instructions.

Institutions are encouraged to submit schedules before their due dates when practicable.

Except where otherwise specified, all schedules and information requested in the Closing Instructions are to be submitted to the University Shared Services - Financial Reporting Services (USSE-FRS) SharePoint site.  Check with your Business Officer to determine who has access to the site. 

We have divided 'Detailed Instructions and Deadlines' for the Banner FIS Year-end Closing Instructions into the following categories:
CB Closing of the Books - Tasks that must be completed to close the books, converting accounting records from modified accrual to full accrual per GAAP, through period 14
FS Preparation of Disclosures for Financial Statements - Additional information we will need to prepare the financial statements and related notes or to provide information for the State of Oregon Comprehensive Annual Financial Report (CAFR)
EA Preparation of Requests from the External Auditors - Information that external auditors will be reviewing as part of their audit of the financial statements

The Banner Fixed Assets Year-end Closing Instructions are separately presented.  These procedures are critical to ensure that:

  • All capital assets are recorded in the Banner Fixed Assets module
  • Banner Fixed Assets module reconciles to Banner FIS

Schedule templates are available on SharePoint