Fiscal Year End and Expiring Contracts
As we prepare for Fiscal Year End, we are asking for each department’s assistance in advance planning and notification of their purchasing actions which includes coordinating with Procurement Services in advance of purchase requisition submission. We cannot overemphasize the need for departments to plan their needs well in advance and involve Procurement Services in the planning stage to avoid processing delays. Helpful tips include:
- Please review your departmental POs and their statuses. If any POs can be closed, please submit a change order request in SpearMart.
- For multiple closings, submit an Excel spreadsheet with PO numbers and supplier names and attach it to a Change Order Form request via SpearMart.
- You may use this query to find more details about your POs: FSU_PO_AMT_BY_DEPTID_DATERANGE
- Please check now to see if you have any contracts within your area that may be expiring or coming up for renewal by 6/30/19. If so, please notify Procurement Services at least 75 days prior or earlier of contract expirations or renewals.
- Departments must allow time for Procurement Services to facilitate competition, analysis of quotations, bids and proposals, contract review and approval in addition to purchase order processing time.
- To help facilitate the process, requisitioning department’s responsibility includes defining quality, quantity, specifications, delivery date requirements and all other pertinent information essential to properly purchase. If an item is unusual or unique, the subject matter expert in the requisitioning department may be called upon to assist procurement in evaluating the quotes, bids or proposals received.
These POs will not Roll due to system limitations:
- PO status cancelled, complete, or in-process
- PO on hold
- Not successfully Budget Checked (budget check other than “valid”)
- Fully Vouchered
- Partially vouchered receipt
- POs whose project is closed and project’s commitment control budget is closed
- POs with generic entries, i.e., whose commitment control ledger needed to be corrected by entering a generic budget journal to correct the budget totals
Effective March 1, 2019, the following guidelines will apply to the fiscal year end closing process:
- FY19 Blanket POs will be closed by 8/31/2019.
- Blanket Change Orders will be limited to one (1) Change Order per fiscal year.
- Going forward, due date will be required on requisitions for FY20.
- Any PO that have a remaining encumbrance below $100 and has last activity date greater than sixty (60) days will be closed.
We are grateful for your assistance in these endeavors to help Procurement make continuing improvements to serve our campus community.
Please contact Procurement Services with any questions.