What do I do if I wont be able to attend the university I was accepted to this coming year?

I applied to ASU and got accepted. However, primarily due to finances I have decided to stay at community college for one more year to receive my AA and then transfer. I've already been accepted to ASU but have not registered yet. Do I need to submit anything stating I will not be attending in the Fall? Do I need to re-apply for the following year?