Procurement Planning for Year End (FY23)

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 .