Financial Services news
Dear Colleagues, With the launch of the new Financial Services website, you will notice several changes. Announcements and Month End Deadlines now appear on the home page and there are 6 main sections on the site.
Message from the Office of Sponsored Research and Research Financial Management Services to the McGill Research Community
This communiqué updates the McGill community of some important changes that the Office of Sponsored Research and Research Financial Management Services are undertaking in order to improve our collective services for researchers.
To all Finance users Budget Carry Forwards to the 1A Operating Funds have been posted. The 1A Operating Fund carry forward balances are now posted to May of fiscal year 13 (2012/13) for all applicable funds. Information relating to the carry forwards is available in the Budget Carry Forward Information Bulletin found in our Knowledge Base.
To all Finance users The University fiscal year 12 (2011/12) is officially closed. For those of you who receive monthly Financial Statements via Minerva, the April reports are now available for "pick up". You may pick up your Minerva Financial Statements by logging into Minerva via: https://banweb.mcgill.ca/minerva >> Finance (Fund) Administration Menu >> Financial Statements.
Please be advised that there is an increase in the mileage rate for University business travel via personal automobile. Effective June 1, 2012, the current reimbursement rate of 55 cents per kilometer (89 cents per mile) will be increased to 57 cents per kilometer (91 cents per mile). The revised allowance is in line with the National Joint Council’s rates recently published.
This is a just a reminder that the 2012 Year-End Consulting Sessions will be held this Wednesday and Thursday (May 16th and 17th) to assist with any final Year-End preparations and to answer any remaining questions you may have.
Good Day Please note that due to the extended University year end period, the month of April will not be closing according to the usual month end schedule. April 2012 is scheduled to be closed on May 30th. This means that financial statements for April are still not available. An email notification will be sent when the financial statements are ready to be picked up in Minerva.
To all Finance Users In support of the Year-End effort, the processing of journals, IDC’s and manual encumbrances (Banner forms FGAJVCQ, FGAJVCD and FGAENCB) will not be accessible from Tuesday, May 8th, 9:00 AM until Wednesday, May 9th, 9:00 AM. We apologize for the inconvenience.
Effective May 1, 2012, the following improvements have been made to the Minerva Advances and Expense Report Menu for expense reports submitted by students...
Dear Colleagues, The annual Year-End Memo which details the 2011-2012 University deadlines and procedures for financial transactions is available on the Financial Services website at http://www.mcgill.ca/financialservices/yearend/.
Dear colleagues, Please note that the FY12 Year-End Reporting and Communication Meeting will be held on Friday, March 30, 2012, 9:00 to 10:30 a.m. in the Bronfman Building, Room 422, 1001 Sherbrooke Street West. The PRESENTATION, AGENDA and MEMO are available on the Financial Services website using the undernoted link: http://www.mcgill.ca/financialservices/yearend/
Dear Colleagues, Please note that the FY12 Year-End Reporting and Communication Meeting will be held on Friday, March 30, 2012, 9:00 to 10:30 a.m. in the Bronfman Building, Room 422, 1001 Sherbrooke Street West. The AGENDA and MEMO are available on the Financial Services website using the undernoted link: http://www.mcgill.ca/financialservices/yearend/
Dear Colleagues, In an effort to generate accurate financial statements for the third quarter of our fiscal year, being January 31, 2012, please ensure that all invoices on hand for goods and/or services received to January 31, 2012 are received by Accounts Payable by February 6th, 2012 to ensure processing in the appropriate fiscal period.
This communication is directed to those who process taxable sales using Banner Deposit Form FGADCSR. The QST rate is increasing from 8.5% to 9.5% effective January 1, 2012. Banner is now updated to reflect this new rate. When processing sales during the transition period, it is important to make a conscious decision about which tax rate should apply.
As part of the Quebec government’s measures previously announced to tackle its growing budget deficit, the Quebec sales tax rate (QST) will be increasing another 1%, from 8.5% to 9.5% effective Jan. 1st, 2012.