Year-End Deadlines 2019-2020

The University’s year-end is April 30, 2020. All transactions occurring before year-end must be dated April 30, 2020 or earlier to be included in the 2019-2020 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 2019-2020 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 15, 2020. 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 15, 2020 to be processed in the 2019-2020 fiscal year. Please email approved documents and supporting backup to Amanda Johnson: agjohnso@lakeheadu.ca.

CASH RECEIPTS

All cheques and cash dated prior to April 30, 2020 must be deposited on or before Friday, May 15, 2020 in order to be processed with an April date. All such deposits made after May 16 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 2019-2020 fiscal year (inclusive of all supporting documentation and approvals) must be submitted to pcard.statements@lakeheadu.ca by Thursday, May 7, 2020.

INTERDEPARTMENTAL CHARGES

Interdepartmental charges for goods received or services rendered before April 30, 2020 must be in Financial Services on or before Monday, May 4, 2020 and be April-dated. All outstanding travel advances should be cleared by that date. Please email to Krista Hawe: khawe@lakeheadu.ca.

INVENTORIES (RETAIL)

The last day for submission of the physical retail inventory sheets is Monday, May 4, 2020. 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 2020 (rendered prior to April 30, 2020), must be in Accounts Payable no later than Friday, May 15, 2020. As a reminder, all goods ordered through requisitions and purchase orders in Colleague must be received on campus on or before April 30, 2020. Please email to acctspayable@lakeheadu.ca.

ATTENDANCE AND STAFF INFORMATION FORMS

Attendance forms up to and including April 30, 2020 should be in Human Resources by Monday, May 4, 2020. This information is required to calculate the University vacation liability for the 2019-2020 fiscal year. As well, any staff information forms for work performed prior to April 30, 2020 should be in Human Resources as soon as possible and no later than Thursday, April 9, 2020 to ensure costs are recorded in the correct fiscal year.

All correspondence and meetings with members of Financial Services regarding 2019-2020 budget transfers or corrections to actuals must be arranged prior to May 15, 2020, excluding yearly June budget meetings with Deans and Administrative Directors. These will be arranged by the Financial Services’ Administrative Assistant, who will reach out to the various administrative or executive assistants directly for scheduling.

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