Dear colleagues,
Effective May 2, 2022, new questions will be added to the iBuy Purchase Requisition Form to help identify purchases which might need to be accrued or deferred by University Accounting and Financial Report (UAFR) at fiscal year-end.
The University of Illinois System has received external audit findings for not recognizing expenses in the fiscal year to which they relate. To help address these audit findings, a new question will be added to the Purchase Requisition Form asking if the purchase includes goods or services that are expected to be provided over a period of time (range of dates), such as maintenance agreements, software license agreements, and subscriptions. If the answer is YES, estimated beginning and ending service/delivery dates are required.
The estimated service/delivery dates represent anticipated dates at the time of the requisition. The legal starting date will be determined when the purchase order is issued in accordance with procurement rules. These date fields will be used only by UAFR for fiscal year-end financial reporting.
Updated job aids can be found on the iBuy Training Materials page on the OBFS website.
Contact
All questions about these estimated service/delivery date fields should be directed to UAFR at UAS@uillinois.edu.
Regards,
Bradley Henson, Director of Purchasing, UIUC
Debra Matlock, Executive Director of Purchasing, UIC
Jill Menezes, Director of Purchasing, UIS
Brent Rasmus, Assistant Vice President & Controller
Dan Szajna, Director, System Purchasing & Support Services
