Please continue to refer to the downloadable Unit Year-end Checklist for important year-end dates, timeline information and tasks that need to be performed. Procurement and expenses close will occur at Noon on Monday, June 30.
The downloadable year-end checklist for Finance and Supply Chain activities" is available under the "I want to..." heading found on the Business and Finance website's Controller page. The checklist includes important dates and action items for FY25 year-end.
Similar to last year, to avoid potential accounting issues, we are asking that no transaction approvals, changes, or cancellations occur after that time until the roll forward is complete the following day. This includes Requisitions, Purchase Orders, Change Orders, Supplier Invoices (for both Internal and External Suppliers), Miscellaneous Payments and Expense Reports. POs will not be issued through scheduled jobs from 11am to midnight when the roll forward is completed. Service Centers and Buyers for the University are instructed to not manually issue purchase orders during this time unless absolutely necessary; doing so will negatively impact the encumbrances and roll forward.
We highly recommend having FY25 procurement and expense transactions fully approved by the end of the day on Friday, June 27, 2025.
Starting at 12 noon on Monday, June 30, 2025, the University will start a “roll-forward” process, which will run until the process is complete. System slowness may be experienced during this time. This process will automatically update the budget date to July 1, 2025, on all purchase orders, requisitions and supplier contracts with open obligations created before July 1, 2025. Obligations based on the remaining balance, not yet invoiced, will be moved to FY 2026 (unless they are future dated blanket purchase orders which were already entered as FY 2026). Invoices matched to these POs and supplier contracts following the “roll-forward” will carry a July 1, 2025 budget date. Please continue efforts to close out as many old items with remaining balances as possible to help with the roll forward process.