Budget Question concerning Retained Earnings

We are starting to use the Budgeting functionality in Oracle and have a question.

Will the act of closing the 2011 accounting periods prematurely cause a current year retained earnings issue in 2011 reporting?To pose the same question differently, is there another way to open the 2012 budget period without closing current year accounting periods?We are on 11.5.9 version in a multi-org system. All our sets of books use the same Accounting Flexfield, Currency and Calendar. We are ONLY doing budgets in our "global consolidation" set of books, so the closing and opening of periods will only be in this book and will not effect other transactional books in the environment.  Any thoughts or