NewsFlash May 2016

News Flash
Fiscal Year End Purchase Orders
KFS is open to begin entering your fiscal year 2017 PO’s.
Updated Commodity Assignments
For your information, we have recently reassigned our commodities.
Questions about Fiscal Year 2016 deadlines?
The 2016 fiscal year ends June 30, 2016. To permit timely handling of documents as required by the University and the State Comptroller, the following deadlines for the processing of University Contracts/Personal Service Agreements, Purchase Orders (PO), payments and other transactions have been established.
PO Closures and Cancel Balances
New procedure for closing purchase orders.
Procurement Sercices ListServ
Sign up for the Procurement Services ListServ.
Year End Purchasing Card (PCard) Procedures
All Procurement Card transactions that post to your June 23rd statement and prior, will be considered FY16 transactions and must be reallocated and approved by the appropriate fiscal officer no later than June 30th*.
*Please note:

You can reallocate as soon as a charge posts to your action list; you do not need to wait for your statement to reallocate. Please continue to check your action list through June 30th to ensure that all transactions have been reallocated and approved by the fiscal officer. Any charges that post to your bank statement on June 24th or later will not be in your action list until FY17.