Cut-Off Dates for Capital Expenditures, Non-capital Purchasing, Payroll, Expense Claims, Petty Cash and Internal Cost Transfers for Fiscal Year Ending March 31, 2016

In order to meet reporting deadlines set by the Ontario government, I am requesting that you adhere to the following timelines.

1. Capital Expenditures:

   Faculties and departments with budgets remaining for capital expenditures are requested to place their purchase orders no later than Friday, January 8, 2016. This will allow suppliers to deliver the capital purchases within the fiscal year and allow the College to post invoices related to these purchases before the changeover. The cut-off date therefore for capital purchases is Friday, January 8, 2016 at 5:00 p.m.

1. Non-Capital Purchasing:

   In order to meet the Ministry’s time lines, purchasing of all goods and services for the 2015/2016 fiscal year will be closed at 5:00 p.m. on Friday, January 29, 2016. It is College policy not to order goods and services without a purchase order being issued. In previous years, many departments were found to be in violation of this policy and hence attempted to process a purchase order because they had since received an invoice. Please comply with the College policy because if the College refuses to pay the invoice, you could be personally liable.

   Purchase requisitions received after the deadline will not be processed under the 2015/2016 budget. All goods and services must be received on or before March 31, 2016 if they are to be included in the 2015/2016 budget. Goods and services received after March 31, 2016 will be posted to the 2016/2017 budget.

   3. Invoices, Expense Claims and Petty Cash Vouchers:

   All invoices, employee expense claims, etc. pertaining to the current fiscal year must be received by Financial Services no later than the end of business day on Monday April 4, 2016 for processing. Petty cash vouchers for the year ending March 31, 2016 must be submitted for reimbursement to Financial Services at the Trafalgar Road Campus by Monday April 4, 2016.

4. Payroll:

   Time sheet, overtime, etc. must be submitted to Payroll no later than Monday March 7, 2016, so that they can be included in the 2015/2016 budget year. Any time sheet, overtime, etc. received after this date will be attributed to your 2016/2017 budget.

5. Cost Transfers:

   All internal cost transfers for transactions occurring up to Monday February 29, 2016 must reach the Financial Services Department at the Trafalgar Campus by Monday March 7, 2016.  Cost transfers for March 2016 transactions should be received by Financial Services by Monday April 4, 2016. Any costs transfers received after this date may not be processed.

6. Budget Transfer
   

Budget transfers should be received by Financial Services no later than Friday, January 29, 2016 (same day as the non-capital purchasing cut-off).The cut-off date does not apply to the budget set up of new funded projects.

7. Invoice Request (Billing)

All invoice request to bill external organizations should be received by Financial Services no later than Tuesday, March 22, 2016 in order for invoice be issued by the March 31, 2016 year end date, and revenue be included in the 2015/2016 budget.
Thank you in advance for your cooperation.

Steven Parfeniuk

Senior Vice President, Finance & Administration