As we near the end of FY25, please note that we are following the same year-end expenditure policy as last year. This policy helps reduce last-minute spending and allows the Finance team to close the books efficiently.
Key Notes:
- Purchases made in June 2025 that are not received by June 30 will be charged to FY26.
- FY25 funds may not be used to pre-pay for goods or services intended for FY26. Multi-year contracts and memberships must be apportioned correctly.
Important Deadlines:
By Noon, Wednesday, June 11, 2025, submit:
- Postage charges
- Interdepartmental transfers
- Utility accruals and lists of goods received but not invoiced
Note: Postage between June 11–30 will be submitted separately in July.
By 4:00 PM, Friday, June 13, 2025:
- Submit all purchase orders, standing orders, and check requests
- Process all non-travel Concur expenses
- Enter or submit FY25 invoices and charges to Procurement/Accounts Payable
Travel: Submit and approve all expenses in Concur. For late-June travel, please contact Jyll Smith (jyll.smith@maine.edu).
By Monday, June 30, 2025:
- Enter cash receipts in MaineStreet and close sessions by 3:00 PM
- Deposit cash/checks by 4:00 PM
- Settle credit card terminals by day’s end
Please also ensure that wage reallocations and project invoices are current and submitted promptly.
Thank you in advance for your attention to these deadlines and for your continued cooperation. Your thoughtful financial stewardship is truly appreciated and contributes to the success of the entire institution.