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Purchasing and Financial Accounting Cut-Off Dates
Posted 4/22/2009
Submitted by
Dennis Gacioch
To: Deans, Directors, Faculty and Staff
From: George Evans, Director of Financial Accounting Services
Dennis Gacioch, Director of Purchasing
Re: Purchase Requisition/Purchase Order/Payment Cutoff
Dates for FY2009
Close of Fiscal Year - The University will close its Fiscal Year on June 12, 2009. As part of the closing process, Purchasing will adhere to the following schedule for the processing of purchase requisitions for equipment, supplies, and services for the 2008-2009 school year:
May 1, 2009 - Last day to submit online or manual purchase requisitions or IDT's to ITS for Hawk computer purchases.
May 15, 2009 - Last day to process purchase requisitions.
Please forward any supporting documentation of your purchase request to Purchasing (mail or fax to 860-768-5452) and note the purchase requisition number. Include W-9's and Independent Contractor forms for new vendors. Allow two weeks for any bidding of goods or services to be purchased over $3,000. Reminder - A minimum of three quotes are required if your purchase is over $3,000.
Exceptions: Any exceptions will require approval from Purchasing.
Receipt of Goods and Services - Financial Accounting Services is mandated by accounting rules as to which fiscal year to charge for PO activity, regardless of when the Purchase Order was created. The preference of the requester will have no bearing as to which fiscal year is charged. Contact Financial Accounting Services at X4651 with questions regarding which fiscal year will be charged for a specific vendor invoice.
Budgets: It is important to remember to check your budget for FY 2009 and FY 2010 throughout the summer to ensure all charges are posted and to the correct fiscal year.
Open PO's: Review all your open PO's. Check the balances of open PO's by going into your respective fund/org in FGIBDST and selecting Organization Encumbrances from the Options menu at the top of the screen. If you identify PO's that should be closed, you will need to send an e-mail referencing the PO number to acctspay@hartford.edu.
End of FY close for PO's: Financial Accounting Services will be closing all PO's created in fiscal year 2009 unless notified by the originator that the PO should remain open and rolled forward to fiscal year 2010. If your PO will not be received or invoiced until fiscal year 2010, please send an e-mail to acctspay@hartford.edu requesting a roll forward of your specific PO.
Blanket Order Rollovers - Blanket orders will be rolled to online requisitions in early June. A listing of the requisitions created will be forwarded; at which time they may be edited as necessary. They can be completed and approved once the budget has rolled for FY'2009, near the end of June. Please make sure any requisitions for the new Fiscal Year, that are approved before June 30, 2009, have a July 1, 2009 date. Please Note: Complete descriptions are required of the commodities you will be purchasing. Do not use BLANKET ORDER or MAINTENANCE or CONTRACTED SERVICES , ETC in the commodity section.
For more details or clarification on purchasing related issues, call Purchasing at 768-4007/4009/5514.
From: George Evans, Director of Financial Accounting Services
Dennis Gacioch, Director of Purchasing
Re: Purchase Requisition/Purchase Order/Payment Cutoff
Dates for FY2009
Close of Fiscal Year - The University will close its Fiscal Year on June 12, 2009. As part of the closing process, Purchasing will adhere to the following schedule for the processing of purchase requisitions for equipment, supplies, and services for the 2008-2009 school year:
May 1, 2009 - Last day to submit online or manual purchase requisitions or IDT's to ITS for Hawk computer purchases.
May 15, 2009 - Last day to process purchase requisitions.
Please forward any supporting documentation of your purchase request to Purchasing (mail or fax to 860-768-5452) and note the purchase requisition number. Include W-9's and Independent Contractor forms for new vendors. Allow two weeks for any bidding of goods or services to be purchased over $3,000. Reminder - A minimum of three quotes are required if your purchase is over $3,000.
Exceptions: Any exceptions will require approval from Purchasing.
Receipt of Goods and Services - Financial Accounting Services is mandated by accounting rules as to which fiscal year to charge for PO activity, regardless of when the Purchase Order was created. The preference of the requester will have no bearing as to which fiscal year is charged. Contact Financial Accounting Services at X4651 with questions regarding which fiscal year will be charged for a specific vendor invoice.
Budgets: It is important to remember to check your budget for FY 2009 and FY 2010 throughout the summer to ensure all charges are posted and to the correct fiscal year.
Open PO's: Review all your open PO's. Check the balances of open PO's by going into your respective fund/org in FGIBDST and selecting Organization Encumbrances from the Options menu at the top of the screen. If you identify PO's that should be closed, you will need to send an e-mail referencing the PO number to acctspay@hartford.edu.
End of FY close for PO's: Financial Accounting Services will be closing all PO's created in fiscal year 2009 unless notified by the originator that the PO should remain open and rolled forward to fiscal year 2010. If your PO will not be received or invoiced until fiscal year 2010, please send an e-mail to acctspay@hartford.edu requesting a roll forward of your specific PO.
Blanket Order Rollovers - Blanket orders will be rolled to online requisitions in early June. A listing of the requisitions created will be forwarded; at which time they may be edited as necessary. They can be completed and approved once the budget has rolled for FY'2009, near the end of June. Please make sure any requisitions for the new Fiscal Year, that are approved before June 30, 2009, have a July 1, 2009 date. Please Note: Complete descriptions are required of the commodities you will be purchasing. Do not use BLANKET ORDER or MAINTENANCE or CONTRACTED SERVICES , ETC in the commodity section.
For more details or clarification on purchasing related issues, call Purchasing at 768-4007/4009/5514.
