Controller's Office Deadlines

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University Fiscal Year-End, April 30, 2019

The following information relates to the University’s April 30, 2019 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 2018/19 University Financial Statements.

A)  Accounting Deadlines

Please note the following accounting deadlines for fiscal year 2018/19.  These deadlines need to be met in order to ensure the correct accounting data is included in the 2018/19 Financial Statements.

 

Document

Due To 

Deadline Date

Time

Budget changes for 2018/19 fiscal year

Budget & Financial Planning Office

April 12, 2019

  4:30pm

Purchase Order De-commitment

Request for 2018/19 fiscal year

Purchasing Services

April 26, 2019

  4:30pm

Revenue Remittance Vouchers

Treasury Operations

May 1, 2019

10:00 am

Treasury Operations Invoices

Treasury Operations

May 1, 2019

10:00 am

Travel Expense Claim

(signed claim with receipts)

Payment Services

May 1, 2019

  4:30 pm

Petty Cash

Payment Services

May 1, 2019

  4:30 pm

Requisitions for After-Fact HVPOs

(for goods/services already

Received by April 30, 2019)

Purchasing Services

May 6, 2019

 

10:00 am

WebNow Electronic Routing for Approval

Payment Services

May 6, 2019

10:00 am

Coded Invoices

Payment Services

May 6, 2019

10:00 am

Cheque Requisitions

Payment Services

May 6, 2019

10:00 am

ADI - Journal Entries

Controller’s Office

May 9, 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 $5,000 or over. As a result, any invoices of $5,000 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 HVPO must include required documents such as multiple quotes or Non-Competitive Procurement Justification where applicable. Requisitions without the required documents will be returned. Purchase requisitions for After-Fact HVPO issued for the purpose of getting invoices paid in current 2018/19 fiscal year should also include a copy of the invoice.
  3. Purchase orders issued for the new 2019/20 fiscal year will not generate commitments in FRS until the Year-End accounting process is over.  Invoices to be paid against these purchase orders will be processed after the Year-end process.
  4. Cheque requisitions relating to the 2019/20 fiscal year must be noted as such in the “Purpose of Payment” section of the document.
  5. Revenue received up to and including April 30, 2019 must be submitted to Treasury Operations by 10:00 am on May 1, 2019.

C)  Budget and Financial Planning Office Processes

  1. Please forward any budget changes for the 2018/19 fiscal year by April 12th, 2019 at 4:30pm for processing before budget close on April 30, 2019.
  2. The Budget Carryforward Policy, a Carryforward Planning Template and the Carryforward Policy Exception guideline can be found on the Budget and Financial Planning Office website ‘Forecast Carryover page. The deadline is June 30, 2019 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

Yolanda Yu

52900

Purchasing Services

Lisa Li-Shack

58483

Treasury Operations

Dave Hargreaves

52863

Budget and Financial Planning Office

Larry Shuh

52860