1. END OF YEAR TRAINING Texas Woman’s University

2. Why? To explain how to keep your FY15 purchases in FY15 If you do not abide by these deadlines your purchases will be charged to the FY16 budget

3. Deadlines When are they?  August 1, 2015 – credit card (pcard, air card and student trip card) transactions to be charge to FY15 budget  August 7, 2015 – approved requisitions, with all supporting documentation, to be received in the purchasing office  August 31, 2015  all travel completed  goods and/or services physically and systematically received  vendor dated invoices

4. Deadlines Continued When are they?  August 20, 2015 – all credit card transactions to be reconciled in GCMS  September 4, 2015 – invoices dated on or before August 31, 2015 received in Procurement Services  This includes check requests, guest lecturer and membership forms  September 4, 2015 – travel vouchers received in Procurement Services Why so early?  Annual financial reporting deadlines

5. Purchasing Forecasting Look at the bigger picture of your needs What could we do to improve production/effectiveness  Needs  Requirements  Desires Collaborative ordering – collaborative utilization Understand what an emergency purchase is and is not

6. Special Considerations Formal bids – the process requires 30-60 days Competitive quotes – they take time Equipment – are other departments needed for installation? Furniture – lead time is at least 60 days Technology – quotes and ‘approvals’ are required

7. Funding Considerations Account for unprocessed charges  Pcard  Travel  IDTs for postage and phones Is the money in the correct place M&O versus Capital? Are multiple approvers required? Is this a fund/account that “rolls” into the next fiscal year?  11.410 accounts do not roll  Accounts that begin with 12 or 14 do not roll  10.100 accounts do not roll

8. Good Stewardship Just because you have it doesn’t mean you have to spend it Consumables are intended to be consumed in the fiscal year in which they were purchased

9. Questions?