End-of-year purchasing information
The end of the fiscal year is quickly approaching, and with that I would like to inform you of a few requirements for year-end purchases.
Please remember that if you order merchandise, it needs to be physically here before July 1 in order to be charged to the 2012-13 fiscal year. Goods and services received after June 30, 2013 are required to be charged to the 2013-14 budget year.
Therefore, all purchasing for this fiscal year needs to be completed by June 14. No purchasing should be done for the 2012-13 year after this date. Merchandise ordered after this time frame frequently does not arrive by June 30, causing it to be charged to the following year. Also, invoices often don’t arrive for orders placed in late June until early August, long after we have closed the books for the year, again causing accounting problems.
Thank you for your help. If you have any questions, please feel free to contact Andy Dunn.