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Foundation Financial Services

Foundation Fiscal Year-End Calendar

The following information is being provided to those who have Foundation accounts.

Accounts Payable

Please submit all payment authorizations and vendor invoices as early as possible. If you need a check issued by June 30, we must receive payment authorizations and invoices no later than 3:00 p.m. on June 15, 2022.

Purchase Orders

Purchase order requests (including grants, contracts, and trust accounts) will need to be received by 3:00 p.m. on May 26, 2022 (if in excess of $10,000) and June 8, 2022, (if $10,000 or less).

This is an important deadline if your grant or contract expires or ends on June 30, 2022. Please note that our system is unable to backdate purchase orders.

Blanket Purchase Orders

Fiscal year 2021/2022 blanket purchase orders will be closed as of June 30, 2022. Be sure to have all invoices related to blanket POs to us by June 15, 2022, to ensure that FY 2021/2022 activity is recorded in FY 2021/2022.

Fiscal year 2022/2023 requisitions

Blanek purchase order requistitions for the new fiscal year may be submitted starting May, Jun 27, 2022 and must be clearly marked "2022FY". Blanket POs are strongly encouraged for the fiscal year for Printing Services and Mail Services.

Reimbursed Release Time

RRTs, including required signatures, will need to be received no later than 5:00 p.m. on May 2, 2022. If RRTs are received by May 2, purchase orders will be issued to the University by June 30, 2022, but payment to the University may not occur until after July 1, 2022.

Cash Receipts

In order to post cash receipts in June, please assure they are received no later than 3:00 p.m. on June 29, 2022.

Journal Entries

In order to post journal entries as of June 30, 2022, please assure they are received no later than July 8, 2022.

Salary Cost Transfers (for Effort Reporting)

All payroll transactions, journal entries for salary transfers and cost share documentation to be included in the Spring 2022 effort certification period must be received by July 22, 2022, unless your grant/contract requires an earlier close-out period. Salary cost transfers will be posted with a July GL date, unless received by July 8, 2022.

These deadlines apply to all Grants, Contracts and Trust accounts regardless of funding source.

If you have any questions, please contact Foundation Financial Services at 559.278.0850.