Books Closed for Fiscal Year 06-07
dwaldron October 25th, 2007
During the early evening hours of Friday, October 19, College Controller Todd Burson and Analyst/Programmer Connie McCarty worked together to close the books for fiscal year 2006-07. The College began the use of the Colleague financial system on July 1, 2005, so 2006-07 was the second year that College accounting records were maintained in Colleague and the second year to be closed within Colleague. The procedure ran smoothly.
In conjunction with Colleague, the Finance Office and IT worked together to implement a new financial reporting tool known as FRx. Fiscal 2006-07 marked the second time that FRx was used to produce the College’s financial statements. Todd indicates that FRx has been helpful to the Business Office in many ways, but was extraordinarily helpful in the production of this year’s financial statements. The financial statements of a given year are required to display information on the prior year as well. Because we now have two years of financial data in Colleague, we are, in Todd’s words, “now able to push a button and get our financial statements from the Colleague software.” This had made life in the Business Office quite a bit easier. As Todd puts it, “This has brought great joy to me.”