University Accounting and Financial Reporting has announced due dates and timelines for the next scheduled Biennial Inventory cycles. Based on all university Biennial Inventory cycles being completed in calendar year 2021, units will not be required to complete and certify the Biennial Inventory cycle in calendar year 2022. All cycles will be due for certification and completion in calendar year 2023.
Future Biennial Cycles And Due Dates
- UIC
- Cycle start date- July 1, 2022
- Certification due date- March 31, 2023
- Cycle close date- June 30, 2023
- UIS
- Cycle start date- September 1, 2022
- Certification due date- May 31, 2023
- Cycle close date- August 31, 2023
- UIUC
- Cycle start date- December 1, 2022
- Certification due date- August 31, 2023
- Cycle close date- November 30, 2023
- Systems Office
- Cycle start date- December 1, 2022
- Certification due date- August 31, 2023
- Cycle close date- November 30, 2023
With this change, all university units will be completing their future Biennial cycle certifications on the odd calendar year and there will no longer be any university units certifying inventories on the even calendar years. This change is being implemented based on all university units completing their assigned cycles in 2021. The expectation is this change will make the Biennial cycles consistent and easier to manage for units moving forward.
Units can also find the newly updated Biennial due dates in the Business Updates - CFO and the Equipment Management Bulletin.
Contact
For questions regarding the new Biennial cycle due dates and future schedules, please contact Magdalena Jach at mj20@uillinois.edu or 312-585-9171, or Juana Rodriguez at juana@uillinois.edu or 312-585-7321.
