Financial Services

Updates

2017-2018 Year End Procedures

Our fiscal year ends on March 31, 2018 and Financial Services is required to complete all financial reporting processes by April 23, 2018 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.

Note: Since this year end falls on a statutory holiday weekend all goods and services should be received and/or rendered no later than Thursday March 29th, 2018 which is the last business day of the fiscal year.

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 https://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.