IRA Announcements

FY 24-25 IRA Program Balances as of March 11, 2025

We are approaching the close of Q3 and the campus is preparing for fiscal year-end close. Here are some reminders to help ensure the IRA year-end close process runs smoothly.

1. Monitor your program balance(s) regularly. Attached is a copy of IRA program balances as of March 11, 2025. It contains two tabs – one sorted by college/dept/program, the second sorted by program number.
2. Take steps to ensure balances are fully spent down by June 30, 2025. Finalize remaining purchases and submit final invoices/expenses in accordance with the university’s fiscal year-end schedule and attend the Year-end Training Process hosted by Financial Services on March 17th. On June 30, 2025, all IRA program balances are swept central. No funds carryforward into the following year. However, funding that has been allotted to programs for travel that takes place over the summer will remain in place until the travel is complete and fully expensed. As a reminder, travel expense claims must be completed within 60 days of the last day of travel.
3. Any excess in spending is transferred to the program’s home department general fund (THEFD). The timeline for award notices and the application process remains the same. If you applied for 2025-26 funds, you will receive notice of the award mid-March to April 2025. The application process for 2026-27 funds begins in August 2025.

If you have any questions or concerns, please don’t hesitate to email irafunding@fullerton.edu.

Download IRA Program Balances as of 3/11/25 (Excel)