Fiscal Year 2014 Purchasing Deadline
Each year we implement a deadline for expending current fiscal year funds in accordance with university policy. This year, the deadline to expend funds for fiscal year 2014 has been extended from July 15, 2014 until Friday, August 1, 2014. We are extending the deadline to make up for the days lost back in April in preparation for migration of data into PeopleSoft.
We understand that many of you will be responsible for activities over the summer and therefore ask that you plan accordingly and process required transactions before the deadline. Remember to complete any travel requisitions needed during this period as well.
Please make note of the following requirements based on the purchase amount:
|$0 to $5,000.00
||No competitive bids required, except for printing. Requisitions must include a written quote from suggested source/supplier (use of HUB vendors is recommended)
August 1, 2014
|$5,000.01 to $25,000
||A minimum of three informal bids are required (at least two bids must be from HUB vendors)|
|$25,000.01 or greater
||A minimum of three formal written bids are required in response to a written solicitation, which must be posted for 21 days (at least two bids must be from HUB vendors)|
- The expenditure deadline does not apply to grant funds
- The deadline for Procurement Card expenditures is also August 1, 2014 (except grant funds)
If you have any questions, please contact the Purchasing Office at 882-6553.
Posted: July 1, 2014