Deadlines

Treasury Operations Deadlines

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Please note the following accounting deadlines for fiscal year 2016/17.

All  RRV's and Treasury Operations invoices due to Treasury Operations by 10:00am on Monday, May 1, 2017.

Front Counter Deadlines:

RRV's for deposit into the current month will only be receipted at Treasury Operations Front Counter up to 12:00 Noon on the last business day of the month.

GARS (General Accounts Receivable Services) External Invoices for current month will only be recorded in that month if received by close of day on the day before the last business day of the month.

Controller's Office Deadlines

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University Fiscal Year-End, April 30, 2017

The following information relates to the University’s April 30, 2017 year-end procedures.  These procedures apply to operating and ancillary departments, OMAFRA, grants (regardless of the Grant’s individual year-end date) and capital and renovation projects. By complying with the following deadlines and procedures, you will be ensuring the completeness and accuracy of the 2016/2017 University Financial Statements.

A)  Accounting Deadlines

Please note the following accounting deadlines for fiscal year 2016/17.  These deadlines need to be met in order to ensure the correct accounting data is included in the 2016/17 Financial Statements.

Accounting Deadlines

Document

Due To  Deadline Date Time

Purchase Order De-commitment

Request for 2016/17 fiscal year

Purchasing Services

April 27, 2017  4:30pm
Revenue Remittance Vouchers Treasury Operations May 1, 2017 10:00am
Treasury Operations Invoices Treasury Operations May 1, 2017 10:00am

Travel Expense Claim

(signed claim with receipts)

Payment Services

May 1, 2017

  4:30pm
Petty Cash Payment Services May 1, 2017  4:30pm

Requisitions for After-Fact HVPOs

(for goods/services already

Received by April 30, 2017)

Purchasing Services May 8, 2017 10:00am
WebNow Electronic Routing for Approval Payment Services May 8, 2017 10:00am
Coded Invoices Payment Services May 8, 2017 10:00am
Cheque Requisitions Payment Services May 8, 2017 10:00am

ADI - Journal Entries

Controller’s Office May 11, 2017

 1:00pm

B)  Year-End Accounting Procedures

The following information provides additional details regarding year-end accounting procedures:

  1. It is the University’s policy that an HVPO should be issued prior to the delivery of goods or services of $5000 or over. As a result, any invoices of $5000 or over must be paid against HVPOs. In cases where there is no HVPO, invoices will be returned and an After-Fact HVPO must be issued before the invoice can be processed.  
  2. Purchase requisitions for After-Fact HVPOs (for goods or services already received by April 30, 2017) are to be submitted to Purchasing Services by 10:00am on May 8, 2017.  Requisitions must include appropriate backup documents and the following notation in the Notes to Buyer section: “For orders received in 2016/17 fiscal year.” The Need-By Date on the requisition should be entered as April 30, 2017 or an earlier date. Requisitions without the required backup documents will be returned.
  3. Purchase requisitions for regular HVPOs for goods or services to be delivered after May 1, 2017 must include the following notation in the Notes to Buyer section: “For orders to be received in 2017/18 fiscal year.”
  4. Purchase orders issued on and after May 1, 2017 for goods or services to be delivered in the new 2017/18 fiscal year will not generate commitments in FRS until the University completes its fiscal Year-End procedures. Invoices to be paid against purchase orders issued for the 2017/2018 fiscal year will not be processed until after the Year-end accounting process is complete in Oracle.
  5. Cheque requisitions relating to the 2017/18 fiscal year must be noted as such in the “Purpose of Payment” section of the document.
  6. Revenue received up to and including April 30, 2017 must be submitted to Treasury Operations by 10:00 am on May 1, 2017.

The Carryforward Policy, a Carryforward Planning Template and the Carryforward Policy Exception guideline can be found on the Budget Office website "Policies and Procedures" page.

The deadline is June 30, 2017 for Vice President approval of a budget surplus greater than 10%.

Thank you for your co-operation.  Please do not hesitate to contact one of the following managers, if you should have any questions:

Manager Contacts
Contact

Name

Extension

Controller’s Office

Min Chen 52692

Payment Services

Christine Chartier 53443
Purchasing Services Lisa Li 58483
Treasury Operations Dave Hargreaves 52863

 

 

 

Research Finance Deadlines

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There are currently no deadlines listed for Research Finance.