Current through Register Vol. XLI, No. 38, September 20, 2024
Section 144-3-9 - [Effective 10/3/2024] Encumbrance9.1. The appropriate account from which funds to pay for a contract will be taken must be designated prior to a contract being awarded, unless the contemplated contract is a type that cannot be encumbered as determined by the Procurement Officer.9.2. Prior to issuing a contract, the Procurement Officer will verify the amount of funds encumbered is appropriate and the account being encumbered matches what the Department has requested.9.3. Contracts must be encumbered prior to issuance in the following amounts: 9.3.1. A contract for a one-time purchase in the current fiscal year must encumber the full contract amount.9.3.2. A contract that will span multiple fiscal years must encumber at least the amount of funds that will be spent under the contract in the current fiscal year.9.3.3. A contract that will be awarded prior to the end of a current fiscal year but which will become effective after that same fiscal year has ended is not required to encumber funds prior to issuance of the contract.9.4. Open-end contracts or a statewide contract are not required to have funds encumbered prior to the issuance of the contract.