Key dates - 2017 end of financial year
Wednesday, 1 November 2017
The Key Dates for the 2017 year end (PDF, 16KB) are crucial in ensuring that all income and expenditure relating to 2017 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 2017 financial statements;
- Ensure that all your 2017 expenditure is recorded in 2017 and within your 2017 budget/forecast allocations. Similarly, any 2018 expenditure that has been brought forward into the 2017 year as a prepayment will need to be removed from 2017 and allocated against your 2018 budget; and
- Ensure that all credit card holders have coded all transactions and the approvers have approved them in Fraedom up to 31 December 2017. Where possible, transactions should be processed and approved by Friday 15 December 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.
The financial statements then form a significant part of the Annual Report which is the key public document that sets out the strategic and financial performance of the University of Newcastle 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.
Financial Services is running end of year information sessions in late November, with dates yet to be confirmed. If you would like to attend the information sessions or have any questions, please email Finserv-FinancialAcc@newcastle.edu.au, contact Kat Cowie (Financial & GL Accounting Manager - firstname.lastname@example.org), or the Financial Services Business Partner in your area.