No-Cost and Revenue Agreement POs to Be "Finally Closed"

Beginning Tuesday, May 26, Purchase Orders created for the purpose of requesting No-Cost Agreements and Revenue Agreements – Agreement Review Forms numbered 5 through 9 in Aggie Enterprise – will be “Finally Closed” by Procurement & Contracting Services once they have completed review of the agreement. While the status of the PO will be “Finally Closed,” there will be no impact on the ability to use the agreement, as these documents are essentially a mechanism for requesting an agreement review.

As part of this transition, starting May 26 all open POs currently associated with No-Cost and Revenue Agreements will be updated to a “Finally Closed” status.

Designating the PO as “Finally Closed” will prevent the $0.01 encumbrance that results from posting to the department’s chart of accounts or PPM project, eliminating the need for departments to later request that the POs be closed. If an amendment to the agreement is needed after the PO has been “Finally Closed,” a Help Ticket request can be submitted to reopen the PO and once the updates have been made, the PO can again be “Finally Closed.”

We understand that the “Finally Closed” designation may seem counterintuitive, but our intent is to make the new process more efficient for departments.

If you have any questions about the new process, please reach out to [email protected] or join the Procurement breakout room during Office Hours.