Year-End Deadlines 2020-2021

The University’s year-end is April 30, 2021. All transactions occurring before year-end must be dated April 30, 2021 or earlier to be included in the 2020-2021 budget year. It is the responsibility of each department to submit its accounting documents before the deadlines listed below. The transactions received before these deadlines will be included in the 2020-2021 budget year.

Please note: We ask that you please maintain any original receipts or forms at this time. We will reach out for originals at a future date.

ACCOUNTS RECEIVABLE INVOICES

All April-dated invoices for external customers must be received by Friday, May 14, 2021. Please e-mail all requests to Jennifer Caren (jacaren@lakeheadu.ca).

BUDGET AND DEPARTMENTAL TRANSFERS

All requests for transfers (either budget or actuals) in operating or ancillary accounts must be received by Financial Services prior to Friday, May 14, 2021 to be processed in the 2020-2021 fiscal year. Please email approved documents and supporting documentation to Amanda Johnson (agjohnso@lakeheadu.ca).

CASH RECEIPTS

All cheques and cash dated prior to April 30, 2021 must be deposited on or before Friday, May 14, 2021 to be processed with an April date. All such deposits made on/after May 15 will be May-dated. Please contact Jessica Gerlach (jgerlach@lakeheadu.ca) to arrange for your deposit.

CREDIT CARDS

All US Bank purchasing card statements for the 2020-2021 fiscal year (inclusive of all supporting documentation and approvals) must be submitted to pcard.statements@lakeheadu.ca by Friday, May 7, 2021. N.B.: transactions dated April 28-30, 2021 will still be posted to the 2020-2021 fiscal year, even though they will show on the May 2021 purchasing card statements. As a reminder, all goods paid for on or before April 30, 2021 must be received on campus on or before April 30, 2021.

INVENTORIES (RETAIL)

The last day for submission of the physical retail inventory sheets is Monday, May 3, 2021. Please send to Ralph Kiessig (rkiessig@lakeheadu.ca).

SUPPLIER INVOICES

For supplier shipments/invoices, received directly by departments, which are required to be included in fiscal year 2021 (rendered prior to April 30, 2021), must be submitted to Accounts Payable no later than Friday, May 14, 2021. As a reminder, all goods ordered through requisitions and purchase orders in Colleague must be received on campus on or before April 30, 2021. Please send to acctspayable@lakeheadu.ca.

ATTENDANCE AND STAFF INFORMATION FORMS

Attendance forms up to and including April 30, 2021 should be in Human Resources by Monday, May 3, 2021. This information is required to calculate the University vacation liability for the 2020-2021 fiscal year. As well, any staff information forms for work performed prior to April 30, 2021 should be in Human Resources as soon as possible and no later than Thursday, April 8, 2021 to ensure costs are recorded in the correct fiscal year.

All correspondence and meetings with members of Financial Services regarding 2020-2021 budget transfers or corrections to actuals must be arranged prior to May 14, 2021, excluding yearly June budget meetings with Deans and Administrative Directors. These will be arranged by Dianne Cataldo (admin.finance@lakeheadu.ca), who will reach out to the various administrative or executive assistants directly for scheduling.

These deadlines must be adhered to for the timely preparation of the financial statements and their subsequent presentation to the Board of Governors.

Year-End Deadlines