Fiscal Close - Procurement Operations

Dear Fordham University Community, 
As a follow-up to our prior communications regarding the Fiscal Year 2026 close, the Strategic Sourcing Department is sharing critical reminders and procurement best practices. Adhering to these guidelines ensures efficient processing, proper financial stewardship, and a smooth transition into the new fiscal year. 

Please review the key deadlines and requirements below: 

I. FY26 Year-End Close (Through June 30, 2026) 

To ensure all FY26 expenses are accurately recorded and processed in a timely manner, please note the following dates: 

  • June 15, 2026 – PO Request Deadline: For any goods or services over $5,000 anticipated to be received on or before June 30, you must submit a Purchase Order (PO) request in FINBUY by this date. 
  • June 22–26, 2026 – Catalog Order Freeze: Catalog orders submitted during this window will be held (not approved or sent to suppliers) and processed on July 1. This period allows Procurement Operations and Finance to properly process all remaining FY26 purchase orders. 
  • July 20, 2026 – Final Invoice Submission: All invoices for goods and services received by June 30, 2026, must be submitted no later than this date. 

Critical FINBUY Requirements: 

  • Invoices Over $5,000: Must clearly reference a valid FINBUY PO number to be processed. 
  • Receiving Confirmation: Please remember to complete the "goods received" step in FINBUY for any items or services over $5,000 so vendor invoices can be paid. 

A Note on Financial Stewardship: Please avoid last-minute, non-essential purchases. Responsible year-end spending directly supports student affordability and strengthens Fordham’s financial position for the year ahead. 

II. FY27 Planning (Looking Ahead) 

  • Effective June 2, 2026: You may begin submitting purchase orders for Fiscal Year 2027 (FY27) goods and services. 
  • Important Check: Please ensure these early orders are strictly for items or services expected to be received on or after July 1, 2026. 

Your commitment to these procurement best practices is essential for efficient resource management and supports Fordham University's financial health. 

Thank you for your continued cooperation and dedication. 


Sincerely, 
Alessandro Mazzotta
Senior Director of Strategic Sourcing