Year End Closing
Emily J. Hamby, C.P.M., Director
In order to facilitate an orderly year-end closing and to encumber remaining funds, it is necessary to establish cut-off dates for all requisitions to purchase. These dates do not apply to funds that do not expire June 30, 2001.
Orders above $25,000 that require competitive bidding should be submitted as soon as possible: A sealed bid usually requires 30-45 days to specify, advertise, open, evaluate and award before a purchase order can be issued.
Requisitions requiring IRR approval (computer and communication purchases above $20,000) should be submitted no later than June 15.
Requisitions that must be processed by June 30 should be received in Purchasing by 5:00 p.m. on June 22, 2001 including contracts and grants, which expire June 30, 2001. The last working day is June 29.
The last day Disbursement Services can ensure payment of invoices is June 8. Procurement Card charges incurred after June 15 should have an encumbrance established to ensure the charges are made against FY2000-2001 budget.
If you have any questions concerning the schedule or have problems with a Purchase Order, please call your Purchasing Office.