OVERVIEW

Texas Woman's University fiscal year is from September 1 through August 31. The Controller’s Office establishes annual guidelines for year-end processing. Deadlines for requisitions vary according to the dollar amount and account number.

PROCEDURE

The following guidelines will assist departments in completing year end transactions: 

1. The requesting department must ensure that its requisitions are accepted into Oracle before the published cutoff date(s). Requisitions for the current fiscal year that are system-accepted after the cutoff dates may be canceled.  Any exceptions must be approved by the Controller's Office.
       

2. All consumables purchased at the end of the fiscal year must be received before August 31^st to prevent being charged to the new year's budget.
        

3. When the budgets for the new fiscal year have been entered into Oracle, departments may begin entering requisitions for the new fiscal year. (Note:  Be sure to use the new fiscal year date of 09/01/xx). Departments are encouraged to enter requisitions for annual maintenance, license agreements, blanket orders, promptly so that Purchasing can issue the purchase orders (POs) for the new fiscal year without a break in service.
           

4. Purchasing will cancel any requisition that is not properly submitted in the correct fiscal year, and the requesting department will be required to re-enter the requisition into Oracle using the correct format.