Policy

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

PURPOSE: To establish the policy for liquidating encumbrances.

DEFINITIONS: Encumbrances: 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 Purchasing Department.

2. A Purchase Order Encumbrance Liquidations Form must be completed and submitted to Purchasing for processing.