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What happens to funds that remain on a purchase order, within the current fiscal year, once they are no longer needed?

April 26, 2017funds happens longer needed purchase remain

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What happens to funds that remain on a purchase order, within the current fiscal year, once they are no longer needed?

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When a purchase order is completed (i.e. all items have been received or blanket purchase order is no longer utilized) and has been disencumbered, all remaining funds on that purchase order will fall back into the department’s respective State account for that current fiscal year.