If you manage state C-FOPs, please note that the lapse period for the 100025 state fund is ending soon. See below for some important tips to keep in mind as this deadline approaches, which will help ensure the accuracy of the system’s audited financial statements:
- Reconcile Regularly: Review and reconcile your C-FOPs regularly during the remaining days of the lapse period. This will help ensure that any expenses that belong on the 100025 state fund (but are currently posted elsewhere) are reclassified to the state fund before the lapse period ends.
- Verify Appropriateness of Expenses: As you reconcile, ensure that all expenses that have already posted to your 100025 state C-FOPs are appropriate. Also, ensure that none of those expenses were meant for the 100026 state fund. See below for guidance:
- The 100025 state fund can only be used for goods or services that were received or contracted for on or before 6/30/25.
- The 100026 state fund can only be used for goods or services received or contracted for on or after 7/1/25.
- Budget Adjustments: If there are any final budget adjustments that need to be processed (e.g., to address surplus or deficit balances), work with your college or campus budget office to complete any final budget adjustments before the end of the lapse period.
- Labor Redistributions: If any final labor redistributions are needed on the 100025 state fund, consult the previously issued guidance in the following link: Labor Redistributions on FY25 State Funds During the Lapse Period.
- August Closing Date: Per the FY26 Month-End Closing Schedule, August business officially closes on Thursday, 9/4/25. After this date, the 100025 state fund will be terminated in Banner (termination date: 8/31/25), and no further transactions will be allowed.
Contact
For further assistance on this topic, refer to UAFR’s applicable subject matter experts, who can be found by searching for “State Funds” in the Business & Finance Who to Ask list.
