Among the range of tools created by the Department of FISCal (FI$Cal) to support system users in closing their financial books on time, our teams regularly create and update job aids, aimed at helping system users navigate and learn the system. This past December, FI$Cal released the Month End Close (MEC) Playbook job aid, available in the FI$Cal Learning Center.
This playbook is designed to support system users by providing recommendations and aggregating resources into one location, to assist departments in quickly and efficiently closing their books timely, month-over-month. During the December Customer Impact Committee, FI$Cal Service Center Chief Jeremy Greever introduced the playbook to attendees, sharing the high-level information included that will help support departments in approaching the multi-step process of closing their books each month. Said Greever, “The MEC Playbook is a detailed guide that outlines the monthly financial close activities in FI$Cal. It is designed to help departments create their own MEC plan for timely reporting.
The playbook includes close activities and dependencies, roles and responsibilities, start and end dates, timeframes, and a sample calendar and checklist. Over the years, FI$Cal has developed resources such as job aids for specific processes, and worked closely with departments to guide them as they mature in the system. This resource puts this combined knowledge in one place, making it easier for system users to develop their own plan to complete their MEC activities.
Ultimately, departments must create and implement a work plan to ensure the timely close of accounting periods, in order to submit year-end financial reports. In 2024, FI$Cal director, Jennifer Maguire reported that departments transacting in the FI$Cal system continue to improve in closing their books timely year-over-year. This improvement in year-end close is related to a number of factors, including the support and resources like the MEC Playbook.
To engage in our ongoing support and commitment to customer service, system users can expect a similar guide for year-end close to be released later this year.