Key Dates for Fiscal Year-End Cutoff

Key Dates for Fiscal Year End Cutoff 

As our fiscal year end is approaching, please see the key dates below that are necessary for us to properly finalize activity for fiscal year 2026.

Purchase Requisitions:

All purchase requisitions for capital equipment & general goods and services to be charged against 2026 budgets must be initiated and approved by managers by Friday June 12, 2026. 

Only purchases for goods and services physically received prior to the close of business on June 30, 2026 can be charged to the current fiscal year.  Items received on or after July 1, 2026 will be charged to next year’s budget (FY27).

Purchasing Card Transactions:

All P-Card charges must be verified and fully approved by close of business Monday, June 22^nd in order to be charged to the current fiscal year.  Any charges relating to FY26 not verified and approved will be accrued to the P-Card users home org in fiscal year 2026.

Expense Reports & Supplier Invoice Requests:

All Supplier Invoice Requests and Expense Reports to be charged to the current fiscal year must be submitted in Workday by Wednesday, June 17, 2026 and approved by Friday, June 26, 2026.  Please note that employees should not be paying out of pocket for the purchase of any non-travel goods and submitting for reimbursement on expense reports.

Bank Deposits and Customer Invoices:

 Customer Invoices can be entered in Workday up through the close of business on Wednesday, June 24^th provided the deposits are brought to the Bursar’s Office no later than 10am on Thursday, June 25^th.  

•  After June 25^th, we kindly ask that you wait to enter any new Customer Invoices until Wednesday, July 1^st. 
•  Deposits will be sent to the bank for the last time this fiscal year on Friday, June 26^th. 
•  If you need to securely store your Cash/Checks during this time, please bring them to the Bursar’s office where they will safely store them until July 1st. 

Workday Student Accounts:

 Due to fiscal year end processing no activity (including payments, charges, refunds, adj. Etc.) should be processed against student accounts from 8am Tuesday June 30^th to 7:59am Wednesday morning.   It is very important that you do not enter any transactions against a student account during this time frame.  You will be able to begin processing transactions in Cashier sessions again at the start of business 8am Wednesday morning, July 1^st.

Student Online Billing & Payment Site: 

From 5:00pm on Monday, June 29^th through 1:00am Wednesday July 1^st, students and Authorized Users will not be able to access the Online Billing & Payment portal. 

 Beginning June 23^rd, a notice will be posted on the Billing & Payment site regarding the upcoming shutdown.  In addition, a notification will be displayed to all users attempting to login during the shutdown period regarding the duration of the shutdown.  

 Please note that the Office of the Bursar will make appropriate accommodations for all student payment due dates and issues which may arise during this time.  Please direct all student account inquiries to the Office of the Bursar 203-254-4095.

Year End Accrual:

 Items received against purchase orders by the end of June, will be accrued to expense in your “Org” for 2026 even if the invoice is received in July.  Only receipts for items greater than $500.00 in value will be accrued.

 Receipts for items received or services provided prior to or on June 30, 2026, must be completed in Workday by end of business Tuesday June 30, 2026. This will ensure that any un-invoiced expenses are accrued to FY26.

 If there are other items that need to be accrued for fiscal year 2026 that have not been entered as a receipt against a purchase order, please notify Kris Warhola or Ray Ledan by Friday, July 10^th so they can be accrued manually.

If there are any questions regarding the above, please contact the following individuals:

• Purchase Requisitions – Brenda McDermott, Assistant Director of Purchasing, Ext 2220
• P-Card Transactions – Emma Ford Ext 2206
• Expense Reports & Supplier Invoices – Bob Messert, Accounts Payable Manager, Ext 2161
• Bank Deposits, Customer Invoices, Banner Student Accounts Receivable, Student Online Billings & Payments – Laura Guzman, Director of Student Accounts, Ext 4191
• Accounting or other year end questions, Ray Ledan, Ext 2618 or Kris Warhola, Ext 2408