2017 Year-End Processing Note

To help facilitate fiscal year-end processing and the Purchasing Encumbrance Rollover procedures for FY 2017, please note the following:

 Based on the regular closing schedule for FY 2017 released by Dave Baugh:

  1. Purchase orders rolled into FY 2017 and still open will be closed; 
  2. All open purchase orders with an open encumbrance of less than $5,000 will be closed with the exception of purchase orders created after May 12, 2017
  3. All open purchase orders with a funding distribution that has a change (new department ID, etc.) for the new fiscal year will be closed;
  4. Purchases under $2,500 should be made using the ProCard (unless restricted).

The above applies to all purchase orders with the exception of capital construction and sub-grants. It should be noted that any invoices received after the deadline for purchase orders that have been closed will require a new requisition and purchase order for payment in the new fiscal year.

There will be no blanket orders, including the reverse “PP” orders”, established in the new fiscal year except for construction projects.  This is in accordance with the policy established January 1, 2015 and outlined on the Procure-to-Pay website.

For invoices received for Personal Services Contracts (PSC) that have closed, a Payment Request will have to be entered in PeopleSoft to process the payment referencing the PSC number in the description.

 

There are a few tasks that each department can do to facilitate this process: 

  1. First, be sure that receivers have been entered into the system only for the actual quantity received; 
  2. Contact vendors if the item has been received, but the invoice has not been received and ask them to submit the invoice immediately; 
  3. Review University Report UBM-16A in the Financials-Department-Detail folder and submit a Liquidation Request form for any purchase order that is no longer needed;
  4. Please consider attending one of the Year-End training sessions for additional information regarding changes in the new fiscal year.

 

 We appreciate your cooperation and assistance with the year-end process.  If you have any questions regarding purchase orders and the above process please contact the Buyer listed on the purchase order.  Thank you.

  

Curtis Monroe, Assistant Director
Purchasing & Supplier Diversity