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SPA Fiscal Year-End Close Process

Issued: July 15, 2009
Updated: June 17, 2022 – View Changes

FPP N.008

Overview

Applicable to

State agencies (and institutions of higher education choosing to report to SPA)

Policy

The final State Property Accounting (SPA) system processing cycle prior to the 22CY year-end closeout will run on Wednesday evening, Aug. 31. Normal online availability will resume Friday, Sept. 2.

Effective Dates

Note: If any entries are made in SPA during the two-month period when both the current fiscal year and the prior fiscal year allow transactions, ensure that the correct effective date is assigned. Entering assets in the wrong fiscal year will cause errors in your capitalized asset balances. See SPA Fiscal Year-End Reconciliation and Certification of Fiscal Balances for more information.

SPA is expected to be available on Friday, Sept. 2, to accept both fiscal 2022 and fiscal 2023 transactions. The effective date determines if the transaction is recognized as fiscal 2022 or fiscal 2023. The transfer date and disposal date represent implied effective dates.

Fiscal 2022 effective dates: Sept. 1, 2021 through Aug. 31, 2022

Fiscal 2023 effective dates: Sept. 1, 2022 through Aug. 31, 2023

SPA will not accept an effective date greater than the current date.

Reporting Agency Alert

Our prior year experience suggests at least a few of the batch transaction preparation scripts supply the current date as the effective date, regardless of the entry date intended.

Monitor the date populated in the effective date field of your agency’s records before they are sent to SPA to ensure the correct fiscal year is referenced.

Schedule of Events

GR Consolidated Agencies

SPA will accept fiscal 22CY agency transactions until Sept. 20. Agencies must notify their Financial Reporting (FRS) analyst and SPA analyst when entries are complete. The FRS analyst will then complete entries in CANSS and certify for the agency. At any time prior to that date, when the Capital Asset Note 2 and SPA Fiscal Balances are certified in CANSS, fiscal 22CY activity will be closed for entry.

Full Reporting Agencies

SPA will accept fiscal 22CY transactions until Oct. 20. At any time prior to that date, when the agency certifies the Capital Asset Note 2 and SPA Fiscal Balances in CANSS, fiscal 22CY activity will be closed for entry.

Final Fiscal 22CY Close

The statewide SPA fiscal 22CY close is initiated immediately after processing completes on the evening of Oct. 20.

Note: The agency’s current fiscal ending balances can change until the accounting period is closed.

Changes to this Document
Date Updates
06/17/2022 Updated to reflect 2021 fiscal year-end close schedule
07/29/2020 Updated to reflect 2020 fiscal year-end close schedule
05/31/2019 Updated dates for 2019 fiscal year-end close
06/29/2018 Updated dates for 2018 fiscal year-end close