Deadlines

Treasury Operations Deadlines

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Please note the following accounting deadline for fiscal year 2017/18.

All  RRV's and Treasury Operations invoices due to Treasury Operations by 10:00am on May 1, 2018.

 

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, 2018

Please ensure that this memo is circulated to everyone in your department who may be affected by the deadlines and procedures noted.

The following information relates to the University’s April 30, 2018 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 2017/18 University Financial Statements.

A)  Accounting Deadlines

Please note the following accounting deadlines for fiscal year 2017/18.  These deadlines need to be met in order to ensure the correct accounting data is included in the 2017/18 Financial Statements.

 

Document

Due To 

Deadline Date

Time

Budget changes for 2017/18 fiscal year

Budget & Financial Planning

April 13, 2018

  4:30pm

Purchase Order De-commitment

Request for 2017/18 fiscal year

Purchasing Services

April 27, 2018

  4:30pm

Revenue Remittance Vouchers

Treasury Operations

May 1, 2018

10:00 am

Treasury Operations Invoices

Treasury Operations

May 1, 2018

10:00 am

Travel Expense Claim

(signed claim with receipts)

Payment Services

May 1, 2018

  4:30 pm

Petty Cash

Payment Services

May 1, 2018

  4:30 pm

Requisitions for After-Fact HVPOs

(for goods/services already

Received by April 30, 2018)

Purchasing Services

May 7, 2018

 

10:00 am

WebNow Electronic Routing for Approval

Payment Services

May 7, 2018

10:00 am

Coded Invoices

Payment Services

May 7, 2018

10:00 am

Cheque Requisitions

Payment Services

May 7, 2018

10:00 am

ADI - Journal Entries

Controller’s Office

May 10, 2018

1:00 pm

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, 2018) are to be summited to Purchasing Services by 10:00am on May 7, 2018.  Requisitions must include appropriate backup documents and the following notation in the Notes to Buyer section: “For orders received in 2017/18 fiscal year.” The Need-By Date on the requisition should be entered as April 30, 2018 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, 2018 must include the following notation in the Notes to Buyer section: “For orders to be received in 2018/19 fiscal year.
  4. Purchase orders issued on and after May 1, 2018 for goods or services to be delivered in the new 2018/19 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 2018/19 fiscal year will not be processed until after the Year-end accounting process is complete in Oracle.
  5. Cheque requisitions relating to the 2018/19 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, 2018 must be submitted to Treasury Operations by 10:00 am on May 1, 2018.

C)  Budget & Financial Planning Processes

  1. Please forward any budget changes for the 2017/18 fiscal year by April 13th, 2018 at 4:30pm for processing before budget close on April 30, 2018.
  2. The Budget Carryforward Policy, a Carryforward Planning Template and the Carryforward Policy Exception guideline can be found on Budget & Financial Planning website "Policies & Procedures" page. The deadline is June 30, 2018 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:

Contact

Name

Extension

Controller’s Office

Min Chen

52692

Payment Services

Christine Chartier

53443

Purchasing Services

Lisa Li

58483

Treasury Operations

Dave Hargreaves

52863

Budget & Financial Planning

Larry Shuh

52860

 

 

Research Finance Deadlines

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There are currently no deadlines listed for Research Finance.