Procurement Planning for FY24

As we approach year-end, campus users are reminded to plan ahead for the purchase of goods/services. Specific scenarios to consider include:

• Contract Renewals
• Goods/Services requiring a competitive bid event (Request for Proposal)
• Purchases to be expensed by fiscal year-end

Contract Renewals/Extensions
In accordance with the fiscal year-end calendar, all contract renewals for FY25 should be submitted to Procurement Services by Wednesday, May 15, 2024. In general, contract renewals can be processed by June 30. However, for contracts that are complex or require communication/work with the supplier on terms and conditions, may take longer.

Requests for Proposal (RFP)

When planning to initiate a requisition that is $50,000 or more or an RFP, we issue the following guidance for your consideration and planning:

The State of Ohio law and University policy, an RFP is required when spending will be greater than $50,000, per vendor, per fiscal year (University-wide)

The timeframe for and RFP and contract review process must be scaled to the level of the bid event and analysis required (i.e., the larger or more complex an RFP the longer it takes)

Expenses in FY24 or FY25

For a purchase to be recorded as an FY24 expense at fiscal year-end, the good or service must be received by June 30, 2024.

If the good/service is received after June 30, it will be recorded as a FY25 expense.

For assistance and guidance from Procurement Services (e.g., initiating an RFP, review of a contract), please contact financecustomercare@ohio.edu.