Fiscal Close - Transaction Services (AP)

As we approach the close of FY 2026, I am writing to share important reminders and upcoming deadlines to support a smooth and accurate year‑end close. My focus is on helping ensure a well‑coordinated and efficient close for the University. Our team's goals are to make this process as clear, easy, and smooth as possible for you.

This guidance builds on Anthony Grono’s recent communication and reflects close coordination across Finance, Strategic Sourcing, and Accounts Payable. Our collective attention to timing, documentation, and thoughtful spending ensures strong financial stewardship and positions Fordham well for FY 2027.

New this year, we are delighted to offer weekly Zoom office hours for any Finance, Strategic Sourcing, or Accounts Payable assistance you may need during the closing period. Dates and registration details are available through the link below.

FY 2026 Key Dates at a glance
The enclosed PUBLIC CALENDAR highlights key closing dates.

Year-End Spending & Cutoff Expectations
Spend with Purpose
Please avoid last-minute or non-essential purchases. Careful stewardship of University resources supports student affordability and strengthens Fordham’s financial position.

Fiscal Cutoff Rules

  • FY 2026 expense: Goods delivered or services rendered on or before June 30, 2026
  • FY 2027 expense: Goods delivered or services rendered on or after July 1, 2026

Payroll Timing & Accruals
The final regular payroll for FY 2026 will be paid on June 26, 2026. Compensation earned for the remaining days of the fiscal year (June 27–30, 2026) will be accrued centrally by Accounting and Payroll Services and reflected appropriately in FY 2026 financial results.

No additional action is required from departments unless notified otherwise. Please ensure all labor re-distributions are sent to [email protected] by June 9, 2026 to be included in FY 2026.

Invoice Timing & Accruals
All vendor invoices related to FY 2026 activity should be submitted no later than July 20, 2026.   If an invoice for FY 2026 activity cannot be obtained by July 20 please complete ACCRUAL SHEET and include all applicable details so a necessary accrual can be recorded.

Cost Transfers or Interdepartmentals
Please submit all interdepartmental transfers and expense reallocations to Accounting Services at [email protected] by July 9, 2026. Be sure to indicate the appropriate fiscal year in the upper right-hand corner of the form. Any transfers received after this deadline will be recorded in FY 2027.

System-Specific Guidance
Emburse – FINPAY
For non‑PO invoices and independent contractor payments:

  • Select “FY26” when paying for goods or services received prior to June 30, 2026
  • Vendor  invoices and independent contractor payments final submission deadline is July 20, 2026
  • Contact: Accounts Payable – [email protected] | 718‑817‑4950 ext. 2

Jaggaer – FINBUY
For purchases supported by purchase orders:

  • Final FY2026 requisitions due by 5:00 p.m. on June 15, 2026
  • Catalog orders from June 27–30 will be held and processed July 1 and reflected in FY 2027
  • Vendor invoices final submission deadline is July 20, 2026
  • Contact: Strategic Sourcing – [email protected] | 718‑817‑4950 ext. 3

Concur – JPM Chase Corporate Cards

  • June statement closes July 1, 2026
  • Submit June and any additional unsubmitted expense reports by July 10, 2026
  • Reports must be approved by the supervisor by July 15, 2026
  • Hold all July Concur reports until the first week of August

Concur – Out‑of‑Pocket Reimbursements

  • All FY 2026 out‑of‑pocket expense reports due by July 10, 2026
  • Expenses must be posted to the fiscal year in which travel occurred
  • Ensure your ACH enrollment is ACTIVE
  • Contact: Strategic Sourcing – [email protected] | 718‑817‑4950 ext. 3; Concur Champion – [email protected] | 718‑817‑4950 ext. 3

Digital Payments (Students & Guest Reimbursements)

  • Final FY 2026 digital payments processed on July 8, 2026
  • FY 2027 reimbursements may begin July 15, 2026
  • Contact: Accounts Payable – [email protected] | 718‑817‑4950 ext. 2

Training & Resources

Thank you for your continued partnership and attention during this important period.

With appreciation,
Diana Ferrante, CPA
Assistant Controller
Director of Transaction Services