Rolling Forward Grants: A Year-End Closing Message from OSP & Finance

Fiscal Year End is approaching!

Purchase orders related to Grants require special treatment at year-end and must be rolled forward to the new fiscal year with a budget date that falls within the Period of Performance of the Grant. 

To facilitate the year-end “Rollforward Process of Purchase Orders” related to Grants, please be advised of the following actions taken by UVAFinance in collaboration with OSP:

a) Purchase Orders related to Grants with end dates within FY23 (prior to Jul 1, 2023) will be closed by UVA Finance – no exceptions.

b) Purchase Orders related to Grants with end dates prior to June 1, 2024 will be closed by UVA Finance, unless you specifically request them to be rolled forward by June 21, 2024.

We are requesting you to review the Open Purchase Orders - Grants Year-end Rollover report in Workday for outstanding POs associated with Grants and perform the following actions:

1) Run the Open Purchase Orders – Grants Year-end Rollover report 

2) Review the report for your Grants or Cost Centers

3) Close any Purchase Orders that have been completed and are no longer needed.

4) Filter for Purchase Orders in “issued” status, a remaining balance of <> zero and Grant End Dates <6/1/2024 and identify any Purchase Orders that should be rolled to the new fiscal year because of expected grant extensions.

5) Notify UVA Finance by emailing AskFinance, Subject - “Procurement Rollforward” of POs identified at step 4) and enter a Grant extension request through ResearchUVA PBH to enable OSP Pre-Award to take appropriate actions.

After July 1st, 2024, if a supplier invoice needs to be processed on a closed PO, you will need to enter a new requisition if the grant has been extended. Since Requisitions or POs cannot be backdated, you must use other departmental funds to pay the invoices on POs on expired grants that have not been rolled forward. An Accounting Adjustment or Accounting Journal can be performed to move expenses back to the grant.

Important to note: 

• Rolling forward a PO creates an Obligation in the new fiscal year.
• Only POs in “issued” status and with a remaining balance can be rolled forward to the new fiscal year. POs in “draft”, “approved”, or “in progress” status or POs without a remaining balance can not be rolled forward as there is no Obligation related to these POs to roll. An Obligation will be created for these in the new fiscal year once they have been issued.
• POs in “change order in progress” status cannot be rolled. All change orders in progress will be canceled by UVA Finance and will have to be re-entered in the new fiscal year.

See UVAFinance's Year End Closing Dates on our webpage.