What is it?
Within our fiscal year, the University closes its financial books each month. In an effort to record all the financial activity that relates to a particular month, the University does not close a month until the end of the fourth business day of the next month. During this time, financial activity relating to the prior month can be backdated, while current activity can be posted to the current month.
The month end close dates for December (T4 finalization), March (research grant year end) and April (University fiscal year end) are extended beyond the fourth business day in order to ensure the completeness and accuracy of the major reporting commitments noted.