Number: 
03-150-406
Type: 
Rule
Policy Steward: 
Chief Procurement Officer
Format Updated: 
University Policy & Standards Converted: 
Status: 
Current
Revision Date: 
Thursday, December 9, 2010

* This information replaces FIS 801-07 & 801-08 for Fiscal Year End Processing of Purchase Orders & Manual Encumbrances

 

Each year, the Office of Business Affairs distributes Year End Closing instructions with specific dates and deadlines for that year.

Purchase Orders

  1. See the current year’s schedule for purchase requisition deadlines.
  2. See the schedule for the date that Period 01 of the next fiscal year is open for entry of new fiscal year purchase orders and   encumbrances.
  3. Purchase orders remaining “open” at the end of the current fiscal year period 12 will be rolled into period 01 of the new fiscal year accounting records.  It is critical that the “open” purchase orders are indeed “open” and do not include those for which final payment has already occurred. 
  4. Before the last Friday in June, please use the FGROPNE report to locate all purchase orders for which final payment has already occurred.  These encumbrances should be liquidated with a JV.  By the time and the date specified in the current year schedule, verify that all completed current year purchase orders are closed.

Manual Encumbrances

Manual encumbrances (“E” documents) remaining in the current fiscal year accounting records will be rolled into the new fiscal year accounting records.  Therefore, all manual encumbrances must be correct on the last working day in June.