Financial Services Manual (FIN)

Effective: 4/4/1985

Revised: 3/1/2005

FIN 405–02: Capital Purchases Near Fiscal Year-End

Purpose

To allow purchases of capital items near fiscal year-end

Source

University policy

Policy

Capital purchases from the current fiscal year State General Operating Fund budget preferably should be made by April 15 of the current fiscal year.

In addition, Financial Services may at its discretion make a screen print of the purchase request for any capital order on state funds after April 15 and send this document to the respective provost/vice provost/vice president for specific approval. This approval procedure may be necessary because capital purchase requests processed near June 30 can create a hardship to Purchasing and Business Services in obtaining the lowest cost for the item in such a short time frame.

Exception

Purchases that are made in extenuating circumstances

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