If you manage state C-FOPs, please note that the lapse period for the 100026 state fund is ending soon. As this deadline approaches, please keep the following points in mind:
- Reconcile Regularly: Review and reconcile your C-FOPs throughout the remainder of the lapse period. This will help identify any misclassified expenses that require correction before the lapse period ends (such as expenses that belong on the 100026 state fund but are currently posted elsewhere).
- Verify the Appropriateness of Expenses: As part of your reconciliation process, review expenses currently posted to the 100026 state fund to ensure they are appropriate. Also confirm that any expenses intended for the 100027 state fund have not been inadvertently charged to the 100026 state fund. See below for the rules surrounding these requirements:
- The 100026 state fund can only be used for goods or services that were received or contracted for on or before 6/30/26.
- The 100027 state fund can only be used for goods or services received or contracted for on or after 7/1/26.
- Complete Final Budget Adjustments: If budget adjustments are needed to address surplus or deficit balances, work with your college or campus budget office to ensure all adjustments are completed before the lapse period ends.
- Process Any Necessary Labor Redistributions: If any final labor redistributions are needed on the 100026 state fund, refer to the previously issued guidance: Labor Redistributions on FY26 State Funds During the Lapse Period.
- Be Aware of the August Closing Date: Per the FY27 Month-End Closing Schedule, August business officially closes on Thursday, 9/3/26. After this date, the 100026 state fund will be terminated in Banner (effective 8/31/26), and no additional transactions will be permitted.
Contact
For further assistance on this topic, contact UAFR’s state fund subject matter experts at uafrstatefunds@uillinois.edu.
