The account's Activity tab does perform a mock close from one fiscal year to the next, and is not shown until the beginning period of the next fiscal year. The ending period of a fiscal year will not include the net surplus/deficit.
A fund balance account's Activity tab for period 12 of 2003 with a beginning balance of $100.00 shows an ending balance of $100.00 as well.
Assuming a net surplus/deficit of $250 for 2003, that fund balance account's Activity tab for period 1 of 2004 shows a beginning balance of $350.00, which includes the net surplus/deficit of $250.00 from 2003.
Note: Financial Statements perform a mock close each time they are run, moving all net surplus/deficit information to their respective fund balance accounts. This can result in a different balance on the report than the detail on the account Activity tab, depending on the fiscal period for which the activity is being viewed.