On the last day of the fiscal year, a process will run to roll forward encumbrances that are remaining on purchase orders from FY24 to FY25. This means any POs that are not fully invoiced will be rolled forward so that the encumbrance balances accurately reflect purchase orders that are not fully used.

Because Standing Purchase Orders (SPOs) tend to span multiple years and may appear to be fully invoiced, the PSC has set up a process to allow SPOs that have not reached the end date to continue to the new fiscal year by adding $1 to the SPO encumbrance, if the end date of the SPO is after June 30, 2024. (Note: this does not include Construction SPOs)

What can you do to ensure the accuracy of your SPO encumbrances for FY25? You can request to add $1 to the encumbrance of SPOs you wish to roll forward. Alternatively, you can request that SPOs be closed if they are complete. The deadline for requesting change orders for SPOs is Friday, June 14, 2024.

For assistance with searching for Purchase Orders, visit the PSC Knowledgebase: https://pschelp.cu.edu/s/article/CU-Marketplace-Searching-for-Purchase-Orders

For other questions regarding this article, please feel free to contact the PSC Service Desk.