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As the U.S. Army Corps of Engineers, Rock Island District, approaches the end of Fiscal Year 2025, teams across the organization have been working to complete the annual closeout process. Running through September 30, this period demands meticulous preparation and attention to detail in financial recording, reconciliation, and adherence to strict regulations.
The closeout is a phased process spanning the third and fourth quarters of the year, requiring proactive steps to ensure a smooth and accurate final report is produced for USACE Headquarters.
“Proactive financial management is key to mission success,” said Celeste Iversen, chief of Resource Management for the Rock Island District. “We emphasize early action and thorough review, to minimize issues during the final closeout phase and ensure we’re responsible stewards of taxpayer dollars.”
The process requires collaboration across multiple disciplines within the District, including resource management specialists, program/project managers, contracting officers, and procurement personnel. Key areas of focus include obligations, expenditures, revenue, receivables, and asset management.
All financial obligations must be properly documented and prepared for liquidation. This includes verifying that funds allocated for contracts, interagency agreements, and purchase orders are on track for timely expenditure.
“We urge all program and project managers to review open obligations early on,” explained Heather Schroeder, acting chief of Programs Management Branch. “Identifying potential issues prior to the end of the fiscal year helps us proactively address them and avoid complications during final closeout.”
Critical steps during the closeout process include final recording of accrued expenditures, reconciliation of purchase card transactions, and timely submission and processing of travel vouchers. A physical inventory of accountable property – including equipment and vehicles – is also part of the process, but it’s conducted earlier in the year to ensure completion before the busy year-end closeout occurs.
Although the year-end process may not seem to directly involve all employees, there are small things like early timekeeping deadlines that will impact everyone.
“I encourage all personnel to familiarize themselves with the closeout process and to reach out to their supervisor with any questions,” said Iversen. “A collaborative effort will help ensure a successful and compliant year-end closeout.”
| Date Taken: | 09.18.2025 |
| Date Posted: | 09.18.2025 13:13 |
| Story ID: | 548572 |
| Location: | ROCK ISLAND, ILLINOIS, US |
| Web Views: | 10 |
| Downloads: | 0 |
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