• If you have budget-checking errors on a sponsored project, it is important that you contact your SPA analyst in a timely manner so that the deadlines in the attachment can be met.
• If your area works with a service center, you will want to contact them as they may have shorter deadlines in order to comply with the overall University deadlines.
• FY22 prepaid transactions (PurCard charges and payables invoices) must be transferred to FY23. The Prepaid Transactions user guide (PDF) details this process and describes which transactions need to be on prepaid accounts for the new fiscal year (FY24), how to find prior fiscal year (FY22) prepaid transactions, and how to make those corrections. Contact: Disbursement Center
• Prior-year (FY22) unearned (deferred) revenue transactions need to be recorded as true revenue in the current fiscal year (FY23) via journal entry; prior year (FY22) pre-paid expenses (PurCard charges and payables invoices) need to be recorded as true expenses in the current fiscal year via journal entry. Please see the Prepaid Transactions user guide for a description of which transactions need to be on prepaid accounts for the upcoming fiscal year (FY24), how to find prior fiscal year (FY22) transactions, and how to make those corrections.

• Submit any FY23 requisitions (with appropriate back-up documentation for the purchase) as early as possible for strict approval, especially ones that require contract/agreement/terms & condition review as these need additional lead time.
• PeopleSoft requisition access will be turned off at 4:30pm on Friday, June 23 and will reopen on Monday, July 3, around 8:30am. New FY24 requisition purchases can only be entered on or after July 3. 
• Please check your open requisition list any time now and prior to June 23 to be sure your requisitions are complete (with all proper documents attached) and have been successfully budget checked & submitted for FY23 purchases or are valid prepaids using the prepaid category. Any requisitions remaining in incomplete status after June 23 will be deleted.
• After nightly processes have posted on Wedmesday, July 12, ALL remaining purchase orders for FY23 will be closed, (including prepaid POs for which invoices have not been received) unless there is a valid reason for rolling into next year. Some valid examples would be:
  • Subcontracts on valid open projects
  • Purchases made and received in FY23 for which the invoice has not been received by July 7
  • POs on grants/projects that did not end on the fiscal year 6/30
  • Ongoing capital projects
• Send a list of all POs your department would like rolled into FY24, using this spreadsheet, including a justified reason by end-of-day Thursday, July 6 to purchasing@uvm.edu. We will review your spreadsheet and roll the valid requests into FY24.
• PO roll dates are scheduled for Monday, July 17 - Tuesday, July 18.

Please feel free to email purchasing@uvm.edu if you have any questions.

To ensure that your requests are processed in a timely fashion and by the stated University deadlines, the ABSC will be handling requests as follows:

• To ensure your request is processed by the University deadline, submit requests at least 5 business days prior to the deadline, and include all necessary information and documentation. 
• Incomplete requests delay processing and may result in not meeting the stated deadline. 
• All prior approvals must be obtained before the 5-business-day deadline.
• Requests submitted less than 5 business days prior to the University deadline, or requests requiring follow-up, are at risk of not being processed by the deadline.
• Requests will be responded to in the order received. We understand that every request is urgent this time of the year and therefore cannot prioritize specific requests.
• Once the University's deadlines have passed any remaining requests will be processed in FY24.

Contact the ABSC.