Accrual Details
The Financial Services Department continues to strive for accurate and timely financial reporting. To support this goal, Financial Services will post a Quarter 4 payroll accrual to ensure payroll expenses are recorded in the month in which they were incurred.
Because Timesheet 2026-026 (paid on July 2, FY27) only covers wages and fringe expenses through June 27, Financial Services must estimate the portion attributable to the remaining days of Fiscal Year 2026 (June 28, June 29, and June 30).
For Quarter 4, FY26, Financial Services will:
- Accrue the full amount of Payroll 2026-026 (14/14ths) for the 14 June days (June 14 through June 27) paid on July 2.
- Use an additional 3/14ths of Payroll 2026-026 as an estimate for the remaining June days (June 28 through June 30).
This results in a total accrual covering 17 June days.
This accrual enables campus departments to more accurately calculate total payroll expenditures for Fiscal Year 2026.
Fund Information:
Unrestricted Funds: 1111, 1112, 1113, 1116 will be accrued and reversed.
Restricted Funds 1114, 1115, 1253 ** WILL NOT ** be accrued at the Grant ID level, so it should not affect any Grant Summary or Grant Detail Reports. (This is UMBC’s traditional Accrual on these Funds.)
Budget
The Budget Column on the FADs 3B – Budget to Actuals Report will be updated to reflect the amounts for State Fringes.
Finance FADs
The Financial Administrative Dashboards (FADs) related to the General Ledger or Department will reflect the Quarter 4 Accrual. See the FADs for general FADs information.