2021-2022 Fiscal Year-End Close Deadlines and Information

2023 fiscal year appears in drop-down box on KFS Requisition and PO for the next fiscal year. (Use for Recurring PO or Contracts that start after July 1).

• To encumber 'next year' funds (FY2023), the order must be a Recurring PO or orders where a contract and/or services begin July 1 or later. The requisitioner will need to select 'Year: 2023' within the requisition and check the Recurring Payment box in the Payment Info tab (begin/end dates must be added). Requisition’s submission before July 1 is for departments that need to set up recurring or contract orders in advance if they are needed immediately as of July 1.

• All non-recurring or non-contract orders (such as supplies, equipment, or one-time purchases) intended for New Fiscal Year encumbrance should not be submitted before July 1. Please note: High value or restricted items will route to Central Procurement for review.
• Effective July 1, anything created will be for FY2023. All Open POs that still have balances at the end of Period 12 (FY2022) will carry over to FY2023.

Last day to submit a High Value/High Risk or Contract Requisition to ensure Procurement Services has sufficient processing and lead time to post in FY 2021-2022. Efforts will be made to approve submissions after this date but cannot be guaranteed.

Last day to request Procurement Services to process a POA for High Value/High Risk, Contract, or Recurring Payment POs. Comply with this deadline to ensure Procurement Services has sufficient processing and lead time to post in FY 2021-22. Efforts will be made to approve submissions after this date but cannot be guaranteed.

Last day for generating High Value/UCIBuy Catalog Requisitions (>$5000 and/or containing any potential restricted commodities). Efforts will be made to approve submissions after this date but cannot be guaranteed.

The last day for PALCard online purchases to ensure the vendor/bank submits the charge by June 30.

Last day to request appropriate Procurement Services Contract Manager/Contract Analyst to close fulfilled (no remaining payments, goods, or services) High Value/High Risk POs or RPOs with remaining balances to release funds. Comply with this deadline to ensure Procurement Services has sufficient processing and lead time to post in FY 2021-22. Contact Procurement Services for time-sensitive transactions at procurement@uci.edu. PO Balances that are not closed in time will carry forward to the next fiscal year.

Recommended day to finalize UCIBuy Requisitions as APO’s in KFS

The last day for in-store PALCard purchases to ensure the vendor/bank submits the charge by June 30.

• Last day to finalize and encumber funds for Purchase Orders and Purchase Order Amends for FY 2021-22. High Value/High Risk and Recurring Payment Requisitions require additional lead time – see previous "POA for High Value/High Risk, Contract, or Recurring Payment POs" guidelines for details.
• All amends, new POs (for FY 2021), close or void requests must be finalized by 8 p.m.
• Last day for contract managers to close or void fulfilled (no remaining payments, goods, or services) POs with remaining balance, to release encumbered funds

Clear Department PO Encumbrances

Departments should clear out old or invalid leftover encumbrances before year end. Purchase Orders (PO) that are open with future expected payments/credits after July 1 should remain open. Only those without expected future activity should be closed or voided by June 30. Closing or voiding a PO will release all remaining encumbrances and no more activity (payments) can be done.

 To close a PO, fiscal officers and contract managers can go into the PO and select the ‘Close Order’ button to close and release all remaining encumbrances. To void a PO, the contract manager can go into the PO and select the ‘Void Order’ button, when there has been no prior activity on the PO. To review open encumbrances on ledgers, use the Encumbrance Report from UCI Decision Support. For EX (external encumbrance) entries, the reference document number is the PO number. For questions regarding encumbrances themselves, please email kfs@uci.edu.

PALCard purchases made on or after this date affect FY 2022-23 funds and will not appear in KFS until after FY 2021-22 Period 12 closes.

Bills for services rendered through June 30 must be submitted online through CBSO and forwarded to Financial Services no later than July 5 so that 2021-22 accounts can be credited. University invoices received AFTER July 5 or that have a July invoice date will be recorded in the 2022-23 fiscal year.

PALCard/PCDO Creation

 Invoices from Vendors - Charges under Specific Purchase Orders

Charges under Specific Purchase Orders

Invoices should be submitted to the Accounting Office by 4 p.m. on July 7. The Accounts Payable Office will be processing all invoices submitted to them as long as they are on open PO, with sufficient remaining funds. Vendor Invoices with a creation date of June 30 or prior, and submitted by the July 7 deadline, will be recorded on the June Preliminary General Ledger.

 If you miss the July 7 deadline, DO NOT hold the invoices. Send your invoice to the Accounting Office immediately. Accounts Payable will make every effort to post them to the June ledger.

 Any invoices for 2021-22 services or dates that are not processed by the Preliminary Ledger (July 7, 2022) must be accrued by the department if the expense is greater than $10,000 (see page 3 for capitalized equipment and plant/capitalized construction costs exceptions).

Last day to approve PCDOs. All unapproved PCDOs will auto-send after 8 p.m., regardless of date created, and post to Period 12, FY 2022.