Fiscal Year-end Planning Guidelines

Important Deadlines

Fiscal Year 2026

• Start your planning early for fiscal year 26 requests to ensure timely processing.
• P2PO (FMS) System opened on March 5, 2025 – time to enter your requisitions for routine purchases, and open orders for FY26.
• New requirements and open orders less than $100,000 must be submitted by May 2, 2025.
• New requirements greater than $100,000 must be submitted immediately.
  • New FY26 RFP, IFB, Sole Source – time is of the essence. Just to be clear, there is a chance that new submissions might not be processed before July 1, 2025, because of the lengthy process and necessary approvals for these procurement types. Departments are encouraged to submit their requirements as soon as possible.

Reminders

• Early planning is critical.
• Goods and services should not be ordered or initiated until a requisition and purchase order is issued to cover the purchase request.
• Purchases of goods and services with renewals or multi-years should always consider the aggregate value of all years to determine if it is above or below the small purchase threshold of $100,000.
• Requisitions should be submitted with the required documentation (i.e.: Quotes; see Small Purchase Competition Policy if purchase is between $20,000-$99,999.99.
  • Obtain W-9 for new vendors to expedite the process (or applicable Form W-8 for international vendors).
  • Obtain certifications when aggregate value is over $50,000 (IPHEC purchases exempt).
  • Obtain financial disclosures when aggregate value is expected to be over $100,000 (IPHEC purchases exempt).
  • Obtain ACH Application Form (PDF) to help expedite the payment process.
• Consider established IPHEC contracts to expedite processing.
• Departments should consider a BEP vendor (women, minority, persons with disabilities). See the Business Enterprise Program (BEP) website to identify qualified diverse vendors. NIU has a 30% BEP goal.
• Do not sign unless you are authorized to sign contractual agreements – See OGC Contracting Authority Signature Delegation for list of authorized signers.
• Transactions greater than $250K must receive board approval – Contact Risk Management for additional guidance.