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Prior Year Obligations

Obligating a purchase order is an option and it is the only way to draw on prior year funds after a budget year has closed. If your purchase orders meet the required criteria, please work with your department budget officer to submit a list of requested obligations to Financial Services. 

Please use the Prior Year Obligations Form to submit requests to obligate a purchase order to prior year funds. The form ensures all required information is included in the request. It is the responsibility of the Department Budget Officer (DBO) to forward obligation requests to Financial Services by the published deadline, usually mid-June.

The process of obligating funds enables you to charge related invoices in future years to prior year funding.   Financial Services, using State guidelines, must evaluate obligation requests and identify a firm list prior to year end close.   The criteria for obligations are as follows:

  •  The purchase must be a purchase order by June 30
  •  The amount must be $500 or more
  •  The purchase order must be classified into one of the following categories:

    Object 03-Communications Equipment Contracts only

    Object 07-Motor Vehicle Purchase Contracts only

    Object 08-Printing (608006) and other non-routine services only

    Object 10-Equipment Replacement

    Object 11-Equipment Additional

    Object 14-Land & Structures

  • Look here for PeopleSoft Accounts associated with the above objects.

Direct all questions to Bobby Zengel in the Procurement Office.

Financial Services

Administration Building, 4th Floor

Hours: Monday through Friday, 8 a.m. to 4:30 p.m.

Financial Services Fax Numbers

Financial Services HelpLine: 410-704-5599

Email: PSteam@towson.edu






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