2016 End of Year Timetable
The Annual Report is the key public document that sets out the strategic and financial performance of UON and is an important marketing and reputation building document. The document is of significant public interest and as such requires audit by the Auditor General and tabling in the NSW Parliament.
The Marketing, Council Services and Finance teams, with input from the Faculties and Divisions, work hard to make this document one that we can be proud of.
The Key Dates for the 2016 year end are here. These dates are crucial in ensuring that all income and expenditure relating to 2016 is recorded correctly in the University's published financial statements.
It is important that you review these dates so that you:
- Update your calendars/work streams/work allocations/resourcing to ensure you can meet the due dates in the timetable;
- Note the delivery dates and understand that not meeting these will affect the timing of the finalisation of the 2016 financial statements;
- Ensure that all your 2016 expenditure is recorded in 2016 and within your 2016 budget allocations. Similarly, any 2017 expenditure that has been brought forward into the 2016 year as a prepayment will need to be removed from 2016 and allocated against your 2017 budget allocations; and
- Ensure that all credit card holders have coded all transactions and the approvers have approved them in Fraedom up to 31 December 2016. This is particularly important this year due to a change in our general ledger chart of accounts that will occur from 1 January 2017.
Our primary requirement in adhering to these Key Dates is to ensure that The University Council has sufficient opportunity to review the draft financial statements before audit and submission to the Minister.
New general ledger chart of accounts
From 1 January 2017, the University is introducing a new general ledger chart of accounts.
Simplifying the chart of accounts will have many benefits for both Financial Services and end users through reduced administration and greater accuracy.
The new chart will be available on the Financial Services web page with detailed descriptions of each account code and examples of what should be coded to each account code along with a lookup tool to assist you in working out the new account code based on the old code you use.
Financial Services is running End of Year and Chart of Account information sessions on 22, 24 and 30 November and 1 December. If you would like to attend or have any questions, please email Kat Cowie (Financial & GL Accounting Manager - email@example.com) or contact the Financial Services Business Partner in your area.