Financial Services news
Currently the Professional Development Fund requires eligible academic staff to complete the “Professional Development Fund for Eligible Academics Reimbursement Form” and forward it to the Travel Desk for manual input. We have partnered with Financial Services to simplify this process. The Minerva expense report process will replace the current manual form.
Banner, the enterprise system used at McGill to store all student, applicant, employee and finance data, will undergo a major upgrade from version 7 to version 8. Banner, Minerva, the portal and other systems will be unavailable from 5:00 pm Thursday, November 18 to 6:00 pm Monday, November 22. See the full announcement for a list of other systems that will be affected during this period.
Effective July 1, 2010, Ontario and British Columbia join the Maritime Provinces in adopting a single value-added Harmonized Sales Tax (HST) which contains both a federal and provincial portion. Read the full announcement for more information on how this impacts issuing taxable invoices to external customers, payment of invoices from vendors, submitting personal reimbursements via expense report.
The official launch in early June 2010 of the new Service Point Office, bringing together services currently offered in 6 different locations (in 4 different buildings) to McLennan Library, will result in Student Accounts vacating the James Administration Building. As a result, the services offered at the Petty Cash Wicket will be suspended until a new process can be arranged.
Dear Members of the McGill Community, The McGill University Budget for fiscal year 2010-2011 marks a series of transitions – a new accounting methodology, a new fiscal year end, and the closing of our first multi-year allocation plan linked to clearly articulated strategic academic priorities, which include sustaining strength in core fields across the board.
Dear McGill staff, Please be informed that Procurement Services has forwarded to all its active suppliers the following document on May 3, 2010. This communication is aligned with the University’s effort to align its processes and ensure efficient commercial transactions. Regards Erick Legros Director, Procurement Services
Dear members of the McGill community, I am writing to you to describe McGill’s financial challenges in a time of unprecedented economic uncertainty and our approach for facing this challenge. I ask for your ongoing support as we remain committed to our great University and its powerful and worthy mission during an unpredictable time.
To all fund financial managers and FIS users: Please be advised that the Accounting Department, in collaboration with Human Resources and the Academic Management Office, is introducing an improved structure for salary accounts (this refers to the third FOAPAL element where "salary & wages" expenditures are represented with codes starting with "6").
The Accounting Department is proud to announce the launch of another new course offered through HR Organizational and Staff Development. To complement the existing Financial Administration curriculum, this new companion course has been designed to delve deeper into the topic of financial reporting.
Sent on behalf of Morty Yalovsky, Vice-Principal (Administration and Finance). Dear Colleagues, I am pleased to circulate the new "Employees vs. Self-Employed & Independent Contractors" policy and guidelines. This document highlights the issues related to determining the status of individuals providing personal services to the University as either employees or independent contractors.
The Accounting Department is working towards having a comprehensive set of financial policies, guidelines and procedures. We recognize that a sound control environment requires a strong and clear policy framework to guide it. It is also our hope that your responsibilities as financial administrators will be simplified by having understandable reference material at your disposal.
Sent on behalf of Morty Yalovsky, Vice-Principal (Administration and Finance). Dear Colleagues, I am pleased to circulate the revised "Reimbursement of Expenses" policy and guidelines, formerly known as "Travel & Other Personal Reimbursements." It is my hope that the improved format will provide a comprehensive and easy-to-read reference.
The Accounting Department is pleased to announce that the next Financial Administrators' Forum (FAF) will be held on Thursday, December 7, 10 am to 12:00 pm, in the Leacock Building, room 132.
The University fiscal year 06 (2005/06) is officially closed. The carry forward balances are now posted to June of fiscal year 07 (2006/07). For more information, please read the Carry Forward bulletin on the Accounting Department site. For those of you who receive monthly Financial Statements via Minerva, the May reports are now available for "pick up."