Policy

Subject Area:	Procurement Services
Policy Title:	Liquidating Encumbrancesand Reservations
Policy / Procedure No:	PUR012
Responsible Office:	Procurement Services
Documents Needed:	Purchase Order Encumbrance Liquidations Form (refer to the "Purchasing Forms" link on the Procurement Services Home Page - http://www.northeastern.edu/purchasing/.).)

PURPOSE: To establish the policy for liquidating encumbrances and reservations

DEFINITIONS: Encumbrances and Reservations: Funds that are no longer available for spending as a result of having been committed via the issuance of a purchase order.

SCOPE: Applies to all Northeastern University departments.

POLICY:

1. The liquidation of encumbrances for purchase orders is the responsibility of the Procurement Services Department.

2. A Liquidations Form must be completed and submitted to Procurement Services for processing. The form can be located at www.northeastern.edu/purchasing/forms/index.html