June 2016 Procurement News

2015-16 Purchase Order Close Out

Procurement-News-grove

A message from Rhonda Ulmer, Managing Director, Procurement

The cut-off date for the issuance of new purchase orders in preparation of the year-end close out was Wednesday, June 8, 2016. As stated in the recent communications from Loren Bender, vice president, business operations and finance, all outstanding items on purchase orders must be received and invoiced by Thursday, June 30, 2016.

Procurement will be reviewing purchase orders after June 30 to close out these orders to facilitate year-end closing.

Please follow the guidelines for year-end close out of purchase orders:

Monthly Encumbrance Report: It is important that budget managers review the Monthly Encumbrance Fast Report, which is provided electronically, for their department(s). Budget managers should review each purchase order that is outstanding in order to determine if the vendor should be contacted, the purchase order should be closed or if the purchase order may need to be rolled over to next year.

Vendor Communications: If you had not received the outstanding item(s) on a purchase order as of Wednesday, June 15, 2016, it is advisable to remind the supplier/vendor of the delivery and invoice deadlines. Some suppliers will advise that they need to revise the promise date.

Closing Purchase Orders: The report will show all outstanding encumbrances along with the purchase order number. Departments can request that Procurement close any outstanding purchase orders now by simply sending an email to Valenciaprocurement@valenciacollege.edu. Please include the vendor name, purchase order and amount in the request.

Roll-Over Purchase Orders: During the budget manager’s review of the open encumbrance report, they may locate a purchase order for a capital project or capital equipment that will not be completed, received and invoiced by Thursday, June 30, 2016. To request a capital purchase order roll over into the next fiscal year, please send an email to the Budget team to request that the purchase order is rolled over. Please include the vendor name, purchase order and amount in the request for a rollover of the purchase order.

Remember, all purchase orders rolled over to next year will be paid from next fiscal year’s funds.

If you have any questions, please send an email to Valenciaprocurement@valenciacollege.edu, or contact me at rulmer@valenciacollege.edu or extension 3861.

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