{"id":3202,"date":"2025-05-13T15:39:20","date_gmt":"2025-05-13T14:39:20","guid":{"rendered":"https:\/\/blogs.kent.ac.uk\/finance-news\/?p=3202"},"modified":"2025-05-13T15:39:20","modified_gmt":"2025-05-13T14:39:20","slug":"financial-year-end-2024-2025","status":"publish","type":"post","link":"https:\/\/blogs.kent.ac.uk\/finance-news\/2025\/05\/13\/financial-year-end-2024-2025\/","title":{"rendered":"Financial Year End 2024 – 2025"},"content":{"rendered":"

Schools and Information Services(IS)<\/strong><\/span><\/h3>\n

The\u00a0year-end\u00a0date of the 31st\u00a0July 2025 is critical for all\u00a0non<\/strong>-project announced research related expenditure, (i.e. not externally funded) as although, announced Research and Innovation expenditure is bound by the same financial rules, budgets for research projects are based on the period of the grant\/project, and not a financial\u00a0year.<\/p>\n

Spending Deadlines<\/em><\/strong><\/h4>\n

Therefore if you are intending to\u00a0continue spending from the codes you have which are affected by the\u00a0financial year\u00a0end\u00a0(i.e. non- announced research project) usually with a job number beginning with 4xxxx or 5xxxx, or 9xxxx and non-external funded income, please be reminded that these costs need to be included in the current financial\u00a0year, and therefore any goods or services must have been ordered and\u00a0DELIVERED<\/strong>\u00a0by 31st\u00a0of July 2025 (and ideally invoiced too).<\/p>\n

To ensure that there is enough time left to process the orders we already have, and for the orders to be delivered by 31\/07\/2025, please ensure you have forwarded your order requests to your normal request routes by Friday 04th\u00a0July 2025.<\/u><\/strong><\/p>\n

Whilst this is simple for goods with definitely short lead times, if the lead time is not clear, please check with a supplier how long delivery would take at a maximum, to make sure that the required items are on the premises by 31st July 2025. We will have a lot of orders to process at this time too, so as long as the requests are made in time we will process them as soon as possible.<\/p>\n

Please remember externally funded Research and Innovation Project orders or services on project numbers generally beginning with 1xxxx, 2xxxx or 3xxxx for research purposes, are unaffected<\/u> by this timeline, and will still be placed as normal and prioritised, be it as quickly as we can within the current workloads, as we more than appreciate the research must keep going.<\/strong><\/p>\n

Please could you make sure that all outstanding invoices, expenses claim forms (including those related to the research grants\/Innovation awards) and timesheets are submitted as soon as possible during July, as we need time to process them.<\/p>\n

Foreign suppliers\u2019 invoices, i.e. in non-sterling currencies need to be with finance by the by the\u00a013th <\/sup>July 2025, in order to be paid within the current\u00a0year.<\/p>\n

Colleagues are kindly reminded that the \u2018No PO (Purchase Order), No Pay\u2019 policy and process still very much applies, even at year end.<\/strong><\/p>\n

Expenses claims<\/em><\/strong><\/h4>\n