The University's Fiscal year begins July 1 and ends June 30.

 

Payroll Calendars

 

Fiscal Year 2025

Bi-weekly Pay Periods & Due Dates FY25

Monthly Pay Periods & Due dates FY25

 

Fiscal Year 2026

Bi-weekly Pay Periods & Due Dates FY26

Monthly Pay Periods & Due dates FY26

 

Accounts Payable Calendars

  • Accounts Payable checks are generated each business day. Please submit your payment requests at least one week before the date the check is needed.
  • Mailing of Form 1099-MISC will occur before January 31st of each year
  • Payment requests over $2,000 that pertain to the next fiscal year will be processed as needed but the expense will be deferred until the new year.

 

Month End Close Calendar

 

Year End Close Calendar

In the Resource Planning meetings held in February 2025, it was noted that our current policy restricts transfers between certain index categories and that Lehigh will begin adhering to the policy more intentionally.

Reallocations will be halted for processing for the following reasons:

  • Transferring funds from a 2xxxxx (unrestricted/University funded) index to any other fund type, without approval from the budget office.
  • Transferring funds in/out of endowment and/or gift indexes - Donations deposited to a restricted fund must stay in the restricted funds for compliance and stewardship purposes. Transferring funds makes it difficult to report accurately to the donors on the use of the fund. It also leaves an inadequate audit trail and raises questions as to whether the funds were used according to the donor terms.
  • Transferring funds between various funding sources, without approval.

In FY26 we intend to put in place electronic journal forms that will restrict these transfers without prior approval to make this process more straightforward. As part of the resource planning and quarterly review process, we will discuss specific transfers and how to remain compliant with the transfer policy.

  • Fiscal Year End 24-25 Close Calendar - PDF version
  • Google Calendar version (see below)

 

 

Capital Asset Accounting Calendar

The physical inventory is done bi-annually based on a calendar year. Departments are notified in advance of their upcoming inventory.