University of Alaska Foundation Fiscal Year End Procedures for 2010

by Kathleen McCoy  |   

These fiscal year-end closing instructions are provided to facilitate the closing of the UA Foundation's general ledger for June 30, 2010. We are committed to providing timely receipts to our donors and accurate year-end financial information for financial statement purposes.

  • All requests for FY10 transfers between projects must be received in Foundation Accounting by June 21, 2010.
  • All revenue for fundraising events that occurred any time in FY10 must be deposited in the Foundation's bank account no later than June 30, 2010. This may require first having a check cut from the university for any proceeds due the Foundation. If this date cannot be met for any reason, please contact Susan Freel at (907) 450-8122 for additional instructions.
  • All gifts physically received by a University representative by June 30, 2010 will be reported as FY10 income. Credit card gifts made to the Foundation will be considered FY10 revenue if transmitted to the bank, in advance of bank deadlines, by June 30, 2010.
  • All check requests for expenses incurred through June 30, 2010 must be received in Foundation Accounting by July 30, 2010.
  • All fund-raising events held in FY10 must have completed event profit and loss information to Linda Hall by July 30, 2010.
If for any reason full compliance with a year-end closing instruction is not possible, it is critical that this be communicated directly to Susan Freel at (907) 450-8122 or well in advance of the due date.
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