It came to our attention this morning that Activities or Projects which had Thermidor Accrual journal entries (journals beginning with the letters “TAC”) posted in fiscal year 2022 did not have the requisite reversals in fiscal year 2023 prior to July month end close. This resulted in improper balances on the July Management Reports. The “accounting month” of July was temporarily reopened this morning to process these reversals. All balances on Management Reports should be accurate beginning Saturday morning, August 13.
If you have any questions or concerns please reach out to Steven Phillips or Steve Allen.