It's no big deal to have amounts that are allocated in one fiscal year and not spent until another. These are called "encumbered funds".

It just means that they are earmarked for a specific purpose but the actual transaction hasn't taken place yet.

You just need to be clear on your treasurers report how much is available to spend versus how much might be in the bank account.

We don't really have an "accounts payable." We have a budget for the year that reflects all transactions anticipated to happen between 7/1 and 6/30. We really don't have anything else that is billed over the summer and if it was, it would pertain to the new year, that's why I'm not sure how best to handle this. I'm curious how other organizations with a 6/30 fiscal year-end handle stragglers like this.

Can you just leave it on your books as an account payable item? Do you get billed for any other items such as insurance or purchases for events? How do you handle those? You have technically given the money to the school to use, they just haven't "billed" you yet.

Hi. Can anyone offer some suggestions? Our fiscal YE is 6/30. However, we have one program that collected funds to purchase books for the school. We had a temporary librarian who isn't ready to place an order and wants to wait until September to spend the collected funds. Typically we operate on a cash basis. Is there a clean way to handle this or if the funds aren't spent by YE are they no longer available?