{"id":115,"date":"2026-03-06T10:00:14","date_gmt":"2026-03-06T15:00:14","guid":{"rendered":"https:\/\/www.clarku.edu\/business-and-financial-services\/?page_id=115"},"modified":"2026-03-11T10:47:55","modified_gmt":"2026-03-11T14:47:55","slug":"fiscal-year-end-procedures","status":"publish","type":"page","link":"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/fiscal-year-end-procedures\/","title":{"rendered":"Fiscal Year-End Procedures"},"content":{"rendered":"\n<div class=\"wp-block-columns sidebar is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:45rem\">\n<p>Any open encumbrances at year end will \u201croll\u201d into the new fiscal year.&nbsp;&nbsp; That means that if you order items in the current fiscal year but do not receive them on or before May 31, the encumbrance will carry over to the new fiscal year.<\/p>\n\n\n\n<p class=\"arrow\"><strong><a href=\"https:\/\/sites.clarku.edu\/business-docs\/download\/sbp-users-managing-po-encumbrances-for-fy25-close\/?_gl=1*okc7q2*_gcl_au*ODAyNTUxNzUxLjE3NzEyNzI1OTI.\" type=\"link\" id=\"https:\/\/sites.clarku.edu\/business-docs\/download\/sbp-users-managing-po-encumbrances-for-fy25-close\/?_gl=1*okc7q2*_gcl_au*ODAyNTUxNzUxLjE3NzEyNzI1OTI.\">Managing encumbrances<\/a><\/strong><\/p>\n\n\n\n<p class=\"arrow\"><a href=\"https:\/\/sites.clarku.edu\/business-docs\/download\/sbp-users-managing-dates-and-transactions-for-year-end-close\/?_gl=1*okc7q2*_gcl_au*ODAyNTUxNzUxLjE3NzEyNzI1OTI.\" type=\"link\" id=\"https:\/\/sites.clarku.edu\/business-docs\/download\/sbp-users-managing-dates-and-transactions-for-year-end-close\/?_gl=1*okc7q2*_gcl_au*ODAyNTUxNzUxLjE3NzEyNzI1OTI.\"><strong>Placing orders and direct pays<\/strong><\/a><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><?xml encoding=\"utf-8\" ?><nav class=\"is-vertical wp-block-navigation is-content-justification-stretch is-layout-flex wp-container-core-navigation-is-layout-2c14e10a wp-block-navigation-is-layout-flex\" aria-label=\"SmartBuy Plus submenu\"><ul class=\"wp-block-navigation__container  is-vertical wp-block-navigation\"><li class=\" wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\" href=\"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/training-topics\/\"><span class=\"wp-block-navigation-item__label\">Training topics<\/span><\/a><\/li><li class=\" wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\" href=\"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/common-terms\/\"><span class=\"wp-block-navigation-item__label\">Common terms<\/span><\/a><\/li><li class=\" wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\" href=\"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/frequently-asked-questions\/\"><span class=\"wp-block-navigation-item__label\">Frequently asked questions<\/span><\/a><\/li><li class=\" wp-block-navigation-item wp-block-navigation-link\"><a class=\"wp-block-navigation-item__content\" href=\"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/fiscal-year-end-procedures\/\"><span class=\"wp-block-navigation-item__label\">Fiscal year-end procedures<\/span><\/a><\/li><\/ul><\/nav>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group section is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-columns contact-area is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:42%\">\n<div class=\"wp-block-cover has-custom-content-position is-position-bottom-left\" style=\"padding-top:0;padding-right:0;padding-bottom:0;padding-left:0\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" class=\"wp-block-cover__image-background wp-image-399 size-large\" alt=\"\" src=\"https:\/\/www.clarku.edu\/business-and-financial-services\/wp-content\/uploads\/sites\/126\/Clark_University_Sign_Oct_15_2025-002-1024x683.avif\" data-object-fit=\"cover\"\/><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim wp-block-cover__gradient-background has-background-gradient has-gradient-2-gradient-background\"><\/span><div class=\"wp-block-cover__inner-container is-layout-constrained wp-container-core-cover-is-layout-639b5052 wp-block-cover-is-layout-constrained\"><div style=\"color:var(--clarku-color-white)\" class=\"eyebrow  has-text-align-left\">Contact information<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-white-color has-text-color has-link-color has-small-font-size wp-elements-2c498b71ecbe4b8c80563d32996469f5\" id=\"h-purchasing-office\">Purchasing Office<\/h2>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-group contact-text has-light-warm-gray-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<p><strong>Contact information<\/strong><\/p>\n\n\n\n<p class=\"icon tel has-small-font-size\">1-508-421-3839<\/p>\n\n\n\n<p><strong>Office location<\/strong><\/p>\n\n\n\n<p class=\"icon clock\">Monday \u2013 Friday<br>9:00 a.m. to 5 p.m.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Any open encumbrances at year end will \u201croll\u201d into the new fiscal year.&nbsp;&nbsp; That means that if you order items in the current fiscal year but do not receive them on or before May 31, the encumbrance will carry over to the new fiscal year. Managing encumbrances Placing orders and direct pays<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":68,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-115","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fiscal Year-End Procedures | Business and Financial Services | Clark University<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/fiscal-year-end-procedures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fiscal Year-End Procedures\" \/>\n<meta property=\"og:description\" content=\"Any open encumbrances at year end will \u201croll\u201d into the new fiscal year.&nbsp;&nbsp; That means that if you order items in the current fiscal year but do not receive them on or before May 31, the encumbrance will carry over to the new fiscal year. Managing encumbrances Placing orders and direct pays\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/fiscal-year-end-procedures\/\" \/>\n<meta property=\"og:site_name\" content=\"Business and Financial Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ClarkUniversityWorcester\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-11T14:47:55+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@clarkuniversity\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Fiscal Year-End Procedures | Business and Financial Services | Clark University","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.clarku.edu\/business-and-financial-services\/operations-services\/purchasing\/smartbuy-plus\/fiscal-year-end-procedures\/","og_locale":"en_US","og_type":"article","og_title":"Fiscal Year-End Procedures","og_description":"Any open encumbrances at year end will \u201croll\u201d into the new fiscal year.&nbsp;&nbsp; That means that if you order items in the current fiscal year but do not receive them on or before May 31, the encumbrance will carry over to the new fiscal year. 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