MEMORANDUM

To: Vice Chancellors, Deans, Directors, Financial Administrators
From: Thomas Hoole, Director of Purchasing and Campus Services
Date: June 1, 2011
Subject: FY 2011 Year End

June 30, fiscal year end, is fast approaching. As we close out FY 2011 and open FY 2012, there are a few steps that need to be taken and several factors that you need to be cognizant of that directly impact your budget.

1. Be sure to close out any old or inactive Purchase Orders to relieve any unnecessary encumbrance. You can send your close-out requests to pocloseout@uml.edu..

2. The deadline for conducting all Purchasing and Accounts Payable transactions is the close of business on Thursday, June 23rd. This deadline applies to ALL funds, including research. What this means is:

a. Requisitions must be entered, fully approved, and routed to Purchasing by the end of day on June 23rd in order to be entered for this fiscal year. Any electronic requisitions not fully approved by this date will be cancelled and will need to be recreated in FY 2012.

b.Following the requisition cut-off all authority to create requisitions will be temporarily removed until Tuesday, July 5, 2011.

c.Reimbursement requests for Travel and Non-Travel Employee Reimbursement expenses through June 2011 must be received, along with all supporting documentation, no later than close of business on June 23rd.

d.In order to facilitate the fiscal year close and ensure your invoices are posted in FY2011 proper, we strongly encourage all departments to process all FY 2011 invoices prior to June 23, 2011.

Any FY 2011 Operating Budget (Fund 51161) invoices received in the Accounts Payable Department after June 23rd but prior to July 31 will be charged to the budget year in which the goods or services were received. For example, any invoices for goods and services delivered prior to July 1 will be charged to your FY 2011 budget provided there are sufficient funds to cover the invoice and it is received by Accounts Payable no later than July 30th. All invoices received after July 30th will be charged to your FY 2012 budget regardless of the date the goods or services were received.

Consistent with the approach last year FY2011 operating account balances (both positive and negative) may roll into FY2012, pending Executive Cabinet year-end review. We encourage personnel with budget responsibilities to manage all available funds wisely as we close out the fiscal year. Financial Services will review budget balances at year-end as part of the FY2012 budget load process.

The Financial Services and Purchasing Offices will be coordinating two open meetings to discuss year-end issues. The first meeting will be held on North Campus on Monday, June 6th from 2’3 p.m. in the Trustees Room, Cumnock Hall. The second will be held on Wednesday, June 8th on South Campus from 1-2 p.m. in Dugan Hall, Room 105.
If you have any questions, please feel free to contact the Budget Office at Budget_Office@uml.edu or the Purchasing office at Purchasing@uml.edu. If you have any questions related to specific invoices or reimbursements, please contact our Accounts Payable Office at Ask_AP@uml.edu.

Thanks,

Tom

Please note our new address:

Thomas S. Hoole, C.P.M.
Director of Purchasing and Campus Services
Wannalancit Business Center, Rm. 417
One University Avenue
Lowell, MA 01854
P: (978) 934-3509 | F: (978) 934-3018 | E: Thomas_Hoole@uml.edu