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FY26 Year End Closing
Summary
2026 Fiscal Year-End Deadlines
Full Description
The closing schedule includes deadline dates for Procurement and Financial Operations. You will note that some dates apply to all departments, while others only apply to a few specified departments. Your cooperation in adhering to these dates will enable us to comply with all State regulations and appropriately expend the remaining Fiscal Year 2026 funds allocated to W&M and VIMS.
Regardless of these deadline dates, please continue to submit ALL documents systematically. We will continue to process transactions in the normal operational manner as time permits. Departments should continue to process vendor payments to the Accounts Payable office in a timely manner throughout June to ensure compliance with the Prompt Payment Act.
If transactions submitted during June are intended for Fiscal Year 2027 processing, please indicate "FY27" clearly on the documents.
Workday Development & Implementation
Please note that all information is subject to change as a result of the ongoing development and implementation of Workday.
| Deadline | Transaction Type | Contact |
|---|---|---|
|
Friday, February 20, 2026, at 5:00pm (See Procurement Notes 1, 2, 3 & 4) |
W&M & VIMS: Requisitions for non-contract goods, services, and equipment (including ETF) exceeding $200,000, where competition is required | Procurement: [[wavega,Bill Vega]], W&M x13956 |
|
Friday, April 3, 2026, at 5:00pm (See Procurement Notes 2, 3, & 4) |
W&M & VIMS: Requisitions for non-contract goods, services, and equipment (including ETF) less than $200,000 | Procurement: [[wavega,Bill Vega]], W&M x13956 |
|
Friday, April 17, 2026, at 5:00pm (See Procurement Notes 2, 3, & 4) |
W&M & VIMS: Requisitions for contracted goods and services up to and over $200,000 (Supplier lead time will be a factor) | Procurement: [[wavega,Bill Vega]], W&M x13956 |
|
ATG Orders posted on June 1st Invoice (See Procurement Note 5) |
W&M: America To Go (ATG) Orders | Procurement: [[lmarley,Laken Mitchell]], W&M x17636 |
|
Friday, June 5, 2026, at 5:00pm (See Procurement Note 6) |
W&M & VIMS: BOA VISA Small Purchase Charge Card (SPCC) Purchases | Procurement: [[bladieu,Brandon La Dieu]], W&M x12840 |
| Monday, June 8, 2026, at 6:00pm |
W&M & VIMS: Payroll Time Sheets: May 25, 2026 – June 9, 2026 (Pay Period 11) Supervisor's Approval: Wednesday, June 10, 2026, at 10:00am *Please note that information is subject to change. |
Payroll, W&M x12848 |
| Friday, June 12, 2026, at 12:00pm |
W&M & VIMS Payroll Accounting Adjustment (PAA) *Please note that information is subject to change. |
Budget Office: [[ajjedlick,Xander Jedlick]], W&M x12830 |
|
Friday, June 12, 2026, at 5:00pm (See Accounts Payable Note 2) |
W&M & VIMS: Accounting Journals, Accounting Adjustments, and Service Center EIBs |
Financial Systems/Data Control: [[sdberr,Sherry Joyner]], W&M x12835 [[mavarnadore,Melissia Varnadore]], W&M x14807 |
|
Friday, June 12, 2026, at 5:00pm (See Travel Note 1) |
W&M & VIMS Travel Expense Reports: WMF - Funded Gifts “Formerly 1W/2W or 1V/2V” | Travel: [[akbrown,Alexis Brown]], W&M x13445 |
|
Wednesday, June 17, 2026 (See Travel Note 2) |
W&M & VIMS Travel Expense Reports | Travel: [[akbrown,Alexis Brown]], W&M x13445 |
|
Friday, June 19, 2026, at 5:00pm (See Accounts Payable Note 1 & 3) |
W&M & VIMS: Fiscal Vendor Check Request (Direct pays, Refunds, Honorariums) and Non-Travel Workday Expenses to include WMF – Funded Gifts “Formerly 1W/2W or 1V/2V” |
Accounts Payable: [[albrown,Amber Brown]], W&M x12838 |
|
Thursday, June 25, 2026, at 5:00pm (See Accounts Payable Note 2 & 3) |
W&M & VIMS: buyW&M PO Invoices “Formerly 1W/2W or 1V/2V” is Friday, June 12, 2026) |
Accounts Payable: [[albrown,Amber Brown]], W&M x12838 |
| Friday, June 26, 2026, at 3:00pm | W&M & VIMS: Deposit Transmittals, Final FY2026 Deposit Activity | Cashiering: [[kdonley,Karen Donley]], W&M x11228 |
We understand there may be situations that require an exception to this schedule. Please contact the individuals listed based on document type to accommodate any necessary adjustments. Thank you in advance for your efforts in meeting these deadlines.
Procurement Notes
- Note 1: Depending on the complexity of the goods and services sought, a formal solicitation process typically takes 120 days to execute and may extend beyond the current fiscal year.
- Note 2: Purchase requests submitted after these dates, or where vendor lead time is a factor, risk the ability to execute and complete them in the current fiscal year.
- Purchase orders created in buyW&M for delivery and/or payment in the next fiscal year, FY 2027, should include a line item-level comment that clearly states for the vendor's benefit that the budget for payment is not available until July 1, and delivery should be made on or after that date.
- A Purchase Order with the accounting date set on or after July 1, 2026 (please refer to the Ordering How-to Guide in Box) will immediately be transmitted to the vendor; however, the budget encumbrance will go into a holding table until July 1, 2026, after which FY27 POs will be completed in Workday for encumbrance against the new fiscal year.
- Note 3: For FY26 (and prior), the university must receive and pay in full for Equipment Trust Fund (ETF) purchase items and system components before submitting a reimbursement request to SCHEV for processing. All ETF purchases should be processed through Procurement and follow year-end deadlines.
- Note 4: Requisitions must identify the fiscal year for which the purchase is intended.
- Note 5: ATG Orders entered and processed prior to the June 1st invoice will be reconciled and posted in Workday to the appropriate worktags before the end of the fiscal year. The June 11 invoice may also be posted in FY26; however, we cannot guarantee that the Workday processing will be completed within the fiscal year.
- Note 6: Purchases made using the Bank of America VISA Small Purchase Charge Card (SPCC) should be processed by the vendor by June 5, 2026, to make every effort that the transaction posts to your card account by the close of the June 15th VISA billing cycle. The processing date for charge card transactions depends on the merchant's accounting practices and could take anywhere from 1 to 4 days for the transaction to post and be included in your June statement.
Accounts Payable Notes
- Note 1: Non-PO invoices and non-travel Workday Expenses must be approved and in the AP Workflow by June 19, 2026, to be guaranteed approval and payment processing in FY26. Following this date, AP will continue approved invoices until June 25, 2026.
- Note 2: buyW&M PO invoices (to include cXML invoices) must be completed and synched to Workday by June 25, 2026. Please be mindful of due dates and make sure the receiving has been entered against the PO to ensure there is a three-way match.
- Note 3: The last day for processing wires will be June 25, 2026. The last check printing day will be June 26, 2026. For emergency payments, please contact Amber Brown x 12838
Travel Note
- Note 1: Expense Reports for WMF- Funded Gifts “Formerly 1W/2W or 1V/2V” worktags must be submitted and fully approved by June 12, 2026. This is the final date the Travel Office can process these reports for reimbursement in FY26. Any expense reports submitted after this deadline, or not fully processed by that date, will be held and reimbursed in FY27.
- Note 2: Expense Reports submitted June 17, 2026, are guaranteed for processing in FY26. Travel will continue to process expense reports until the last processing day June 26, 2026.