Acts 51 and 962 of the 1985 Regular Session of the Louisiana Legislature require any goods and services to be purchased with State appropriations to be physically received on or before June 30th of the fiscal year, and all associated invoices to be paid within forty-five (45) days following the close of the same fiscal year.
To insure maximum utilization of available State operating appropriations allocated to departments, all operating funded budget units will be required to submit and have time recorded in the Purchasing Department by end of the business day of April 1st of the current fiscal year all purchase requisitions for goods and services. If April 1st occurs on a weekend or holiday, then requisitions will be accepted through the end of the next business day. Failure to submit requisitions by the prescribed April 1st deadline may result in the administrative liquidation of remaining budgeted funds.
Any restricted or grant accounts requiring physical receipt of goods or services by a specified deadline should adhere to the same April 1st deadline to insure the timely processing and receipt of goods and services by June 30th or other deadline, respectively. Adherence to deadline requirements for expenditure of restricted or grant accounts are the responsibility of the recipient department or faculty/staff member.
While a deadline may be established herein, ultimate receipt of goods or services is contingent upon sufficient allocation of funds in budget and expenditure categories, bid preparation time, solicitation and award time, and order and delivery time. Additional days should be considered for longer delivery times.