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Fiscal Year Close-Out Calendar: Access To Financial Records Systems

Fiscal Year 2001 Close-Out Calendar: Access To Financial Records System

For fiscal year 2001 and the beginning of fiscal year 2002 for university accounts beginning with digits 2, 4 and 5, the deadline for entering purchase requisitions into the Financial Records System (FRS) will be the close of business, Thursday, May 31, 2001. Research, auxiliary, plant, foundation and agency accounts with the first digit 3, 6, 8 and 9 will continue allowing the creation of purchase requisitions through the close of business, Wednesday, June 27, 2001. FRS will reopen with fiscal year 2002 budgets, Thursday, July 5, 2001.

Fiscal Year 2001

Thursday, May 31, 2001

• Last day for university accounts 2, 4 and 5 to initiate a fiscal year 2001 purchase requisition on FRS. Departments will not have update capability on screens 250, 251 and 254 after the close of business.
• Last day for university accounts beginning with digits 2, 4 and 5 to process fiscal year 2001 purchase requisitions for the bookstore, computer store, food services, library, Xerox and Office Services. Orders of $200 and under need to be in the service provider's office by the close of business. Orders above $200 require Budget Office approval prior to being rendered. Owing to the small volume of activity, purchases for these services during June will be charged to the fiscal year 2002 budget.

Friday, June 22, 2001

• Last day for university accounts beginning with digits 3, 6, 8 and 9 to process fiscal year 2001 purchase requisitions for the bookstore, computer store, food services, library, Xerox and Office Services. Orders of $200 and under need to be in the service provider's office by the close of business. Orders above $200 require Budget Office approval prior to being rendered.

Wednesday, June 27, 2001

• Last day for university accounts 3, 6, 8 and 9 to initiate a fiscal year 2001 purchase requisition on FRS. Departments will not have update capability on screens 250, 251 and 254 after the close of business.
• Purchase requisitions must be fully approved by the close of business. There will be no approval capability on screen 252 after this time. Purchase requisitions not approved by the close of business will be deleted, requiring re-input by the initiator in July.
• Last day to submit fully approved Travel Reimbursement Forms (all funds) to the budget or grants and contracts office for payment against fiscal year 2001. Travel Reimbursement Forms received after this date will be processed after July 5, 2001.

Thursday, June 28, 2001

• Last day to initiate or delete a receiving report to generate checks for distribution, Friday, June 29, 2001.

Fiscal Year 2002

Thursday, July 5, 2001

• Fiscal year 2002 budgets displayed on FRS.
• First day to initiate and approve purchase requisitions and process fiscal year 2002 receiving reports.

Emergency purchases during the close-out period, defined as purchases affecting life, limb or property, must be authorized by Nicholas P. Tworischuk, associate vice president for finance and budget, ext. 3124; Tworischuk@njit.edu .

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