July 2011 Beginning Balances and July Close

8/15/2011

The July Period is closed.

Please check to ensure that you have no outstanding journals for the July period. If applicable, you can copy these journals with a future date in order to post them in a future period. Then, please delete all outstanding journals for the July period.

All departments are expected to document compliance with certain key financial controls by completing the Key Financial Controls checklist (formerly SAS 112). These controls should be performed monthly. Our auditors perform annual tests on our internal controls and they continue to test departments' compliance in the following areas:

• General Ledger Summary Review
• General Ledger Transaction Verification Review § Overdraft Review § Payroll Expense Review

Departments are to document that these controls have been completed by signing the checklist. If you are not familiar with these critical requirements, please review the information on Financial Key Controls.

If you have any questions, please contact the BFS Help Desk at 2-8500, option 4, then option 2 or bfsbairs@berkeley.edu.