Fiscal
Module 9: Year End Process
In this module, participants will gain a deeper understanding of the tasks related to closing and opening fiscal years. The Department of Education's fiscal year is from July 1 through June 30 of the following calendar year. T he DOE’s Budget and Accounting Branches require certain transactions to be finished by deadlines so that the current fiscal year can be closed and the new fiscal year can be opened.
IMPORTANT: Due to the change from legacy FMS to Aukahi FMS (AFMS) in July 2021, please note the following:
Some of the original modules or portions of the modules related to old system are obsolete. These modules now link to new/current guidance, and/or indicate portions that are outdated.
The remaining policy-based modules or portions of the module are still relevant, but may refer to the old system's terminology. A crosswalk/glossary of FMS to AFMS terminology changes is available here.
Most "FMS" forms have been changed to "AFMS" forms. All new/current AFMS guidance, forms, charts, and other resources are available on the new AFMS website at afms.k12.hi.us.
The quiz in PDE3 and folder labels may no longer align.
Over the next few weeks (April – May 2022), makeshift updates will be performed on several outdated courses as a first step, with development of more cohesive placeholder guidance as the second step, and a re-visioned next generation of SASA Resources as the third step.
The objectives of this learning module include:
Know where to find the annual Year End Fiscal Processing Schedule Memo
Understand the purpose, requirements and general timeline of the Planned Carryover
Understand the purpose, requirements and general timeline of the Balance Carryover
Learn to calculate the General Fund Carryover limit
Understand the purpose and requirements of General Fund Carryover Program
Know how to plan activities during the year to ensure processing deadlines are met
Understand the difference between General, Federal, Special, and Trust Fund carryover
Know why some prior year allotment balances in FMS cannot be moved to other Characters in Budget System
Know the reasons for processing deadlines throughout the fiscal year
