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Procurement Planning for Year End (FY23)

April 18, 2023

As we approach year-end, campus users are reminded to plan ahead for initiating the purchase of goods/services. Specific scenarios to consider include:

  • Contract Renewals
  • Goods/Services requiring a competitive bid event (RFP)
  • Purchases to be expensed by fiscal year end

When planning to initiate a requisition or an RFP, the following guidance should be considered:

  • Per State of Ohio law and Ohio University policy, an RFP is required when spending $50K or greater, per vendor, per fiscal year (University-wide)
  • The timeframe for RFP and contract review processes must be scaled to the level of input and analysis required (i.e., larger or more complex RFPs or contracts may take longer)
  • For a purchase to be recorded as an FY23 expense at fiscal year-end, the good or service must be received by 6/30/2023. 

Per the year end Finance Calendar, April 24th is the deadline to ensure any procurement scenarios defined above (initiating contract renewals, RFPs, or complex year-end purchases) can be addressed by year-end.

For assistance and guidance from Procurement Services (e.g., initiating an RFP, review of a contract), please submit a ticket via financecustomercare@ohio.edu .

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