Fiscal Close

Higher education institutions are navigating a complex landscape.  At Fordham, our commitment to fiscal prudence and strategic planning is crucial in addressing these challenges and ensuring the sustainability and growth of our institution.

Fordham’s fiscal year ends on June 30, 2025. At that time, the Finance team’s job will be to ensure we have a complete record of all transactions for the full year. A successful close is dependent on our collective efforts around some critical dates and activities, and we need your collaboration.

Exercising Year-End Fiscal Prudence
While preparing for year-end, we ask that you carefully review your budget.  We request that any non-essential, last-minute expenditures be avoided. Exercising fiscal discipline at this time directly supports our shared responsibility to maintain tuition affordability and preserve financial flexibility.
 
Unused budget dollars allow us to better respond to unforeseen needs, invest in strategic priorities, and start the new fiscal year with greater flexibility and resilience. Your thoughtful stewardship today directly impacts our ability to support the University’s mission tomorrow.

Action Items

  • Submit invoices and expense reports as soon as possible, especially for goods/services already received or expected soon. If you expect delayed invoices, contact vendors now.
  • Ensure salary/labor charges are accurate; submit any changes by June 10.
  • Place all FY 2025 purchase orders by June 16.
  • Enter all FY 2025 transactions by July 22.
  • Avoid non-essential, last-minute spending to support fiscal responsibility and tuition affordability.

Important Notes

  • Invoices for goods/services received by June 30 will be charged to FY 2025. 
  • FY 2026 budgets will be loaded by June 2025 (more details to come).
  • Request FY2026 purchase orders beginning June 2025 (more details to come).

Thank you in advance for your cooperation and assistance in our year-end financial closing. 

For more specific details and dates 

Fiscal Close - Procurement Operations

Fiscal Close - Transaction Services (AP)

Fiscal Close - Grants (Uniform Guidance)

For questions, contact:

Anthony Grono
Senior Associate Vice President of Finance and Controller