Fiscal Year End | George Fox University

Fiscal Year 2025-26 (FY26) ends June 30, 2026
Fiscal Year 2026-27 (FY27) starts July 1, 2026

A fiscal year is the time period that is considered one “reporting” year for a business entity. Many businesses and grants use different fiscal years, such as a grant that begins in April and ends at the end of March.

George Fox University’s fiscal year runs from July 1 to June 30. Shorthand is often used to refer to a particular fiscal year. For example, all of these refer to Fiscal Year 2025-26:

Fiscal Year 2025-26
FY26 (uses the last year in the cycle)
FY2025-26
FY25/26
FY2025/2026

Deposits

The last bank deposit for the fiscal year will be Tuesday, June 30, 2026. Please submit your deposit to finance by noon on the 30th for your cash/checks to be included in that deposit.

The last day for deposits to be recorded by finance and affect the FY26 budget will be Wednesday July 8, 2026. Any deposits received after July 8, 2026 will be recorded in the FY27 year.

Petty Cash

Please contact accounts payable at accountspayable@georgefox.edu if you have questions about the petty cash due dates below.

If Your Department Is Closed for the Summer

Please submit all petty cash reconciliations to Finance by Friday, May 8, 2026. Remember to submit all receipts, cash, and reconciliation reports before this deadline.

If Your Department Is Operating During the Summer

Please submit all petty cash reconciliations to Finance by Friday, June 26, 2026. Remember to submit all receipts, cash, and reconciliation reports before this deadline.

Procurement/Vendor Payments

Goods and/or services must be received on or before June 30, 2026, to be included in FY26. The purchase order (PO) should be marked as “received” in BruinBuy, and the invoice submitted through BruinBuy as soon as possible once the goods and/or services are complete.

The last day to submit a requisition in BruinBuy is Friday, June 19, 2026.

The final cut-off date to submit a completed PO and invoice for payment in FY26 is Monday, July 6, 2026.

University Visa Cards

All transactions posted to your Concur account by U.S. Bank after the bank’s cut-off date of Tuesday, June 23, 2026, will be listed on your July 25, 2026, credit card statement and will be recorded in the next fiscal year (FY27).

Concur Reports

Concur Expense Reports – Year End closing.

To ensure a smooth year-end closing and prevent transactions from being posted into the next fiscal year, all GFU VISA cardholders and employees seeking reimbursement need to follow the procedures and deadlines listed below.

Please, if you have ANY questions regarding the procedures or deadlines, have any exceptions, or need assistance, please contact Kathi Becker (kbecker@georgefox.edu) or call 503-554-2166.

Critical Deadlines

June 26th: USBank VISA Statement Closing Date. This is the date that determines which VISA transactions can be posted to the current year. Any transactions posted by USBank after June 26^th will need to be posted to the new budget year. Please don’t include transactions after the June 26^th date in your yearend Concur report(s). Hold them for the July report.

(If you have personal reimbursements, you can submit them on your final Concur report and use June 30^th as the cutoff date.)

July 3rd: Final Deadline for ALL Concur reports (VISA and/or personal reimbursements) for the 2025-2026 fiscal year need to be submitted and routed for approved.

July 10^th: ALL CONCUR REPORTS NEED TO BE APPROVED BY APPROVERS IN ORDER TO BE POSTED TO THE 2025-2026 FISCAL YEAR. Any/all transactions not approved by this date will be posted to the new fiscal year.

Required Action Steps

Reconcile Early

Submit ahead of schedule: If you know you will not have any additional VISA transactions or out-of-pocket expenses before the end of June, please submit your reports early to help ease the processing queue.

Submit All Reports

Ensure both your USBank VISA transactions and any personal out-of-pocket reimbursement requests are submitted by the July 3rd cutoff.

Monitor Approval Status

Track your reports: Track the workflow status in Concur after submitting.
Reach out directly to your supervisor or designated approver to ensure they review and officially approve your report(s) by July 10^th.

Error Correction Forms and Interdepartmental Charges (IDCs)

Please have any Error Correction Forms or IDCs for FY26 to Finance as soon as possible, but no later than Friday, July 10, 2026.

If you have questions or concerns, please contact Bruce Owen at bowen@georgefox.edu or 503-554-2169.

Fiscal Year End Deadlines & Procedures