Cut-Off Dates for the Fiscal Year Ending March 31, 2018

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Purchase Requisitions (Capital and Non-Capital Expenditures), Invoices, Expense Claims, Petty Cash Vouchers, Payroll, Internal Cost and Budget Transfers, and Invoice Billing Requests

In order to meet reporting deadlines set by the Ontario government, I am requesting that you adhere to the following timelines. Thank you in advance for your cooperation.

1. Purchase Requisitions:

Capital Asset Expenditures:

Cut-Off Date: Friday, January 12, 2018 (5:00 pm)

Capital Asset means Property, Plant, and Equipment costing $3,000 or more after tax and with a useful life extending beyond one year.  Warranty, service agreements, and leased equipment are not capital assets.

Faculties and departments with budgets remaining for Capital Asset Expenditures are requested to submit their purchase requisitions no later than Friday, January 12, 2018. This will allow suppliers time to deliver the capital purchases within the fiscal year and allow the College to post invoices related to these purchases before the changeover.

Non-Capital Expenditures: 

Cut-Off Date: Friday, February 2, 2018 (5:00 pm)

Faculties and departments with budgets remaining for non-capital expenditures are requested to submit their purchase requisitions no later than Friday, February 2, 2018. This will allow suppliers time to deliver the goods purchased within the fiscal year and allow the College to post invoices related to these purchases before the changeover.

All goods and services must be physically received on or before March 31, 2018 if they are to be included in the 2017/2018 budget. Goods and services physically received after March 31, 2018 are considered expenditures against the 2018/2019 budget.  Please ensure applicable receiving is completed in PeopleSoft on or before March 31, 2018.

In addition, it is helpful if the vendor can invoice as soon as the goods are received.  This allows us to process the payment in PeopleSoft more efficiently.

2. Invoices, Expense Claims and Petty Cash Vouchers:

Cut-Off Date: Monday, April 2, 2018 (4:30 pm)

All invoices and employee expense claims pertaining to the current fiscal year must be received by Accounts Payable no later than the end of business day on Monday, April 2, 2018 for processing.

Petty cash vouchers must be presented for reimbursement to Financial Services at the Trafalgar Campus (B244) by 4:30pm on Monday, April 2, 2018.

3. Payroll:

Cut-Off Date: Friday, March 16, 2018 (4:30 pm)

Please ensure all payroll input data and paperwork to be included in the 2017/2018 budget year such as time sheets, overtime, PT contracts, etc. are submitted to Payroll by Friday, March 16, 2018. Any paperwork received after this date will be posted to your 2018/2019 budget.

4. Cost Transfers:

Cut-Off Date: Monday, March 5, 2018 & Monday, April 2, 2018

All internal cost transfers for transactions occurring up to and including Wednesday, February 28, 2018 must be received by the Financial Services Department at the Trafalgar Campus by Monday, March 5, 2018.

Cost transfers for March 2018 transactions must be received by Financial Services by Monday, April 2, 2018. Any costs transfers received after this date may not be processed.

5. Budget Transfer:

Cut-Off Date: Monday, January 29, 2018

Budget transfers should be received by Financial Services no later than Monday, January 29, 2018. The cut-off date does not apply to the budget set-up of newly funded projects.

6. Invoice Request (A/R Billings):

Cut-Off Date: Friday, March 23, 2018

All invoice requests to bill external organizations should be received by Financial Services no later than Friday, March 23, 2018 in order for invoices to be issued by March 31, 2018 and for revenue to be included in the 2017/2018 budget.

Simpson Siu
Associate Vice President, Financial Services