Financial Services

Updates

Financial Policy and Procedure Update Summary

Important changes to the Procurement and Travel & Expense Procedures that take effect Sept. 1.

Please  refer to the summary of the changes.  The changes were developed through discussion and feedback with college stakeholders on the current operational and compliance impacts of both the Procurement and Travel & Expense policies.   The procedures that come into effect on Sept. 1 are available online at http://www.niagaracollege.ca/practices/view/finances-and-purchasing/.

The updates to the procedures were developed through a review and renewal completed by Financial Services which aimed to:

  • Assess and implement Broader Public Service (BPS) Directive updates;
  • Assess how the policies support the operations and goals of Niagara College and
  • Identify opportunities for efficiencies in the procurement and travel & expense-related processes.

To support the rollout of these changes, Financial Services will provide divisional information sessions over late summer and fall of 2017. The sessions will review the changes and provide background on tools and templates. The Financial Services team will also work with departments to identify and address individual needs.

Please feel free to provide questions at purchasing@niagaracollege.ca, and we will incorporate the feedback and inquiries we receive into the departmental presentations and FAQ documents.

 

2016-2017 Year End Procedures

Our fiscal year ends on March 31, 2017 and Financial Services is required to complete all financial reporting processes by April 24, 2017 to meet our audit requirements and Ministry consolidation deadlines.

The memo highlights the various due dates and the contact person responsible for the specific tasks effecting the year end close process. You can access the Memo via the hyperlink above.

Please feel free to contact Bill Crumm at Ext. 7434 if you require any further information or have any questions relating to the memo.