- Year-end Procedures – Fiscal Year 13 Funds (pdf)
- Year-end Procedures – Federal Fiscal Year ending in September 2013 Funds (pdf)
Estimated Lead Times
- Estimated lead time required by vendors (pdf) updated Jan 2011
Fiscal Accounting standards require all expenses be recorded in the same fiscal year that the goods and services are received. Processing purchasing and financial documents in accordance with the posted schedules allows the financial statements and financial reports to be completed in a timely manner. All travel, services provided, or supplies ordered and/or received prior to June 30, must be requisitioned prior to June 30. This guideline is regardless of funding source.
Requisition deadlines are set based upon the estimated lead times for procurement processing and delivery of materials. Adherence to these deadlines ensures that the Purchasing group has adequate time to complete all purchases prior to the end of the year.
Divisions are strongly encouraged to enter requisitions as early as possible to ensure that expenses are posted in the current fiscal year. Requisitions that are submitted after the posted deadlines will be processed as/if time allows, and only if delivery can be made by the end of the funding period (June 30th for fiscal year). These requisitions will not be prioritized ahead of requests made in accordance with the deadlines.
If you have any questions about the deadlines or the procedures, please contact Debra Kidwell, Director of Purchasing.