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Announcement: Year End Closing Guidelines
- To ensure that goods and services are received by June 21st and invoice dated no later than June 30, 2019, Fund 1 purchase orders will not be issued after May 31st.
- Please include the following statement on all purchase orders beginning May 13th: “IMPORTANT: All goods and services ordered from this Purchase Order must be received and invoiced no later than June 21, 2019.” This is especially critical for grants with a June 30 closing date.
- Open General Operating (Fund 1) purchase orders will be automatically closed as part of the year end process, unless you email ValenciaProcurement@valenciacollege.edu as to the reason for the retention of the purchase order.
- Grants with a June 30 closing date that need their purchase orders to be closed, must send an email to firstname.lastname@example.org.
- Purchase orders may be issued on an emergency basis after May 31st. (Contact the Procurement Department for additional details).
- Procurement Card limit increases will not be issued after May 31st for the remainder of this fiscal year. Increases may be granted on an emergency basis. (Contact the Procurement Department for additional details)
- Please note that you may use your procurement card until the last day of the fiscal year (June 30) for non-capital purchases, however, the last day for Fund 1 transactions to be posted to fiscal year 2018-19 is June 21st.
- Fund 1 procurement card transactions posted to PaymentNet by June 21st will be downloaded and charged to fiscal year 2018-19. Transactions posted to PaymentNet after June 21st will be charged to fiscal year 2019-20.
- All other funds, the procurement card transactions downloaded on June 26th (posted to PaymentNet between June 17th and June 23rd) and July 3rd (posted to PaymentNet between June 24th and June 30th) will be charged to fiscal year 2018-19.
- The July 3rd download will be the last download for fiscal year 2018-19.
- If a travel expenditure is paid in 2018-19, but travel does not begin until fiscal
year 2019-20, this expense will be charged to fiscal
year 2019-20 unless advance payment is made to take advantage of an early bird registration fee discount.