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Department of Finance
1 Ohio University
Ridges Building #18, 3rd Floor
Athens, OH 45701
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Finance

Fiscal year-end reminders from Procurement and Contract Services

May 25, 2018

Reminder for year-end close

If you are planning to be off during year-end close please ask yourself:

  • Do I have a backup for approving expenditures?
  • Have I made sure that I have delegated a backup in Concur?
  • Do I have anyone in my department that left the University that may have open purchase orders?
  • Have I assigned a substitute in BobcatBUY?

Invoices on POs over $10,000 and all service invoices over $500 must be approved in order to proceed to payment. 

FY18 funds reminder

Ensure all goods and services are received and completed by June 30 in order to be paid with FY18 funds. Review open purchase orders for FY18 expenses in which invoices have not yet been received and processed. Follow up with suppliers. Send all invoices to accounts.payable@ohio.edu for processing. Include supplier name and PO number in the subject field. 

Blanket purchase orders

At the end of each fiscal year all blanket POs are closed automatically.  Here are some key points to know for invoices that may need to be paid during the transition and the determination of POs needing pre-entry for FY19.

  • FY18 blankets are for goods and services received thru June 30, 2018

  • Purchasing will automatically close all blankets from FY18 on July 20, 2018

  • All POs on the new Services Agreements form will not close at yearend.  There is no need to recreate these services for the new fiscal year. 

  • AP is open to pay invoices for FY18 until July 17, 2018 by submitting invoices to accounts.payable@ohio.edu

  • FY19 requisitions for blankets can be submitted now and should use accounting date July 1, 2018. All other POs for current fiscal year should use the current date only

  • FY19 POs will be released July 2, 2018

  • Once the FY18 POs are closed, any new invoices will need a new PO to pay against. It can be the new FY19 blanket, or it can be its own PO.

Contract Extensions

To guarantee completion by fiscal year-end, please submit any request for contract extension for contracts expiring June 30 to Contract Services via email  by Friday, June 15.

Large Equipment or Vehicle Purchases

If you have a large equipment or vehicle purchase that would require a Request for Quote (RFQ), and are planning to use FY18 funds, please submit request to Procurement by Friday June 8, 2018.

Questions? Contact Finance Customer Care at financecustomercare@ohio.edu or 740-597-6446.