1. Office of Financial Services
  2. Schedules
  3. Fiscal Year 2025

Fiscal Year 2025

Download the Fiscal Year 2025 Year-End Instructions.

Download the Financial Services Calendar of Events.

In preparation for the 2025 fiscal year end (July 1, 2024 – June 30, 2025), please see the deadlines for concluding financial activity for final close and to comply with State regulations. This schedule takes into consideration all the activities that must be coordinated to reconcile funds for the current year, prepare the annual financial statements, and carry forward restricted balances to the 2026 fiscal year (July 1, 2025 – June 30, 2026).

Revenues/Receivables

  • Please submit a list of all revenues earned through June 30 that has not been received.  These amounts will be set up as accounts receivable.  All receivable information must be submitted by July 18 on the form, “Receivables.”
  • If applicable, please inform Angie Smith immediately of the following:
    • Any credit card transactions that were accepted as a form of payment, were processed on or before June 30, 2025, and not deposited with Departmental Cashiers prior to July 1, 2025 to ensure those transactions are recorded in the correct period and to the correct accounts.  
      NOTE:  This involves any department that accepts and processes credit card transactions.
    • Any wires that were received on or before June 30, 2025 and not deposited with Departmental Cashiers prior to July 1, 2025 to ensure those transactions are recorded in the correct period and to the correct accounts.
       

Expenditures/Payables

Requisitions

  • Requisitions requiring formal bidding (requiring a 21-day advertising period) processed after May 1, 2025, must be awarded and the goods/services received by June 30, 2025, otherwise the award will be issued a Purchase Order to be paid in FY26.
  • Requisitions funded by the Operating fund (fund 1000) for FY25 must be processed by May 1.
  • Approvals of requisitions that must be processed prior to June 30, 2025 should be closely monitored with reminder notifications sent to the approvers to process timely.
  • Please refer to the Fiscal Year 2025 Year-End Instructions for further detailed information.

Purchase Orders

  • Any invoices (associated with purchase orders) for goods or services received on or before June 30 must be submitted immediately for payment.  Please submit these invoices by July 15.  If you have not yet received an invoice for goods or services applicable to the 2024-2025 fiscal year, please make every effort to contact vendors to send you an invoice by the July 15 deadline.   
  • If a vendor cannot provide you with an invoice before the deadline, an accounts payable entry will be recorded.  To facilitate this entry, please complete the form, “Payables” and submit it by July 18.   
  • Goods and services received after June 30, 2025 will be charged to FY26.  All Purchase Order Change Requests submitted to Purchasing to cancel balances of purchase orders funded in FY25 will be processed by June 30, 2025.
  • Purchase orders for receipt of goods and services should be closely monitored.
  • Please refer to the Fiscal Year 2025 Year-End Instructions for further detailed information.

LaCarte Cards

  • Any items/invoices purchased on the LaCarte card and received by June 30, 2025 but not paid by the LaCarte card until after July 5, 2025, an accounts payable entry will be recorded.  Please complete the “Payables” and submit it by July 18.
  • Reimbursement of expenses (out of pocket) must be fully processed in Chrome River by July 21.
  • Unforeseen Chrome River expenses for travel and special meals that were not preapproved must be fully approved by July 21.
  • All Chrome River expense reports must be submitted and fully approved in Chrome River for purchases by July 21.
  • LaCarte use should be limited to emergency or travel that began prior to July 1 during the period of July 1 through July 5.
  • Please refer to the Fiscal Year 2025 Year-End Instructions for further detailed information.

NOTE:  If Chrome River expense reports are not submitted by July 15, the cardholder’s LaCarte card will be inactivated for noncompliance of LaCarte regulations.

Travel & Special Meals

If there is an encumbrance for a pre-approval in Chrome River prior to June 30 and the expense reports are completed and advance payments are complete reconciled, the balance of the pre-approval will be expired and unspent balance of the pre-approval will be unencumbered.

Interdepartmental Charges

All interdepartmental charge forms applicable to June 2025 (or prior) must be submitted to Financial Services by July 18. 

Foundation Warrants

All foundation warrants that are to be drawn against 2024-2025 fiscal year funds must be completed and emailed to warrants@louisiana.edu by May 31.  As a reminder, before submitting a foundation warrant to the Office of Financial Services, please ensure the business purpose is indicated on it.  If the request is for a LaCarte charge, remember to include a copy of the LaCarte statement in addition to the receipt(s).

Helpful Reminders from the Office of Purchasing

  • Monthly Requirements:
    • Review budget entries
    • Review purchase order balances
    • Review pre-approvals in Chrome River for open encumbrances or partially paid expenses.  Complete those transactions so funds can be unencumbered.
    • Monitor invoices that are due and submit receiving reports to accountspayable@louisiana.edu.  Goods and services must be received by June 30, 2025 to be paid or accrued with FY25 funds.
  • All purchases, regardless of source, must be paid or accrued by fiscal year end if received by June 30, 2025.
  • Disseminate this information to all employees having responsibilities related to the year-end closing process.
  • Administration and Finance is available to assist with any questions.
  • While every effort is made to adhere to the deadlines provided, dates are subject to change.

Please refer to the Fiscal Year 2025 Year-End Instructions for additional detailed information concerning year end requirements.

Contact Information

Purchasing 

Finance

Administrative Services

Year End Forms

For a Receivables log or Payables log for FY25, please contact Angie Smith at angie.smith@louisiana.edu