TEMPLATE INSTRUCTIONS - DOC

							MEMORANDUM
To:               See Distribution

CC:

From:             Ray Williams & Karen Janes, Finance and Planning,

Date:             27 June 2008

Re:               END OF YEAR FINANCIAL PROCESSES – 31st July 2008




YEAR END FORMS
Please find enclosed the year-end timetable (Appendix 1) and relevant forms that should be used for submitting information
to Finance and Planning for the financial year ending 31st July 2008.

The forms are similar to last year and cover:

             a) Form ACCRUEXP Accrued Expenditure for items which have been received but for which payment has
                not been made before 31st July - NB see Purchase Orders note below
             b) Form PREPAYEXP Prepaid Expenditure for goods or services paid for during the year but will not be
                received until after 31st July 2008
             c) Form ACCRUINC Accrued Income for sales invoices not issued before 31 st July for work completed in
                2007/2008
             d) Form DEFINC Deferred Income for income received in 2007/2008 but which all or part relates to the
                next (2008/2009) financial year
             e) Form CASH          Petty Cash Reimbursement - Appendix 3
             f) Form INV           Inventory Confirmation Sheet - Appendix 3
             g) Form COM           Confirmation with Financial Regulations & Procedures - Appendix 3


The completion of the above forms is reasonably self-explanatory and there is a “Guidance” page on the accruals and
prepayments template. However, can we please draw your attention to the Internal Reference Number Box. The completion
of this box will allow Finance and Planning to check when individual sheets have ‘gone missing’ and we would, therefore, be
grateful if you could give each sheet you submit an individual reference as described in the Guidance.

Each form should be authorised by the Faculty Dean/Head of Department or budget holder before submission along with the
relevant paperwork, AND an electronic version of the form must be emailed to your accountant. Please note that it is an
audit requirement that all accrual, prepayment and deferred income forms are accompanied by documentary
evidence of the figures being journaled.

We have also included guidance in relation to the accruals and prepayment processes that you will need to carry out to assist
your understanding of the full end-of-year activities (Appendix 2).

The return date for the accrual and prepayment forms is the 6th August 2008.

Purchase Orders
Goods and services that have been ordered through Agresso, delivered by the 31st July but not yet invoiced, will be accrued
by Finance and Planning. The goods that have been delivered must be GRN’d on Agresso by 12 noon on 1st August.
Additional notes regarding Agresso year-end processing are included in Appendix 2.




                                                             1
STOCK TAKE

Departments holding consumable stocks and goods for resale must undertake a supervised physical count of stocks on the
31st July 2008. The count should be carried out by two people, one to count and one to record, with the count sheet
acknowledged by both signatures on completion.

The stock sheet should indicate the following details
       Sheet number
       Location
       Date stock counted
       Stock description
       Item quantity
       Unit price or valuation
       Total item value

During the conduct of the physical count, the supervisor should ensure that no receipt or issue of stock takes place. Where
stock is recognised as slow moving or redundant, this fact should be noted against the stock item concerned.

On completion of the stock take, the supervisor must collect all sheets and return to Finance and Planning (Ray Williams,
Financial Controller, Monk Building, Park Campus).


INVENTORIES

Budget holders are requested to update inventories to show movements for the year and once completed, saved to the Z drive.
Budget holders should complete inventory form (INV) to confirm the last date the inventory was updated and return to
Victoria Watt or Annette Harmer by 31st August.


COMPLIANCE WITH THE FINANCIAL REGULATIONS

Budget holders are requested to sign the compliance form (COM), which seeks confirmation that budget holders have
complied with the Financial Regulations and Procedures Manual during the course of the financial year ended 31st July 2008,
as set out under a recommendation from the Audit Committee dated 23rd February 2005. On completion all compliance
forms should be forwarded to Ray Williams (Financial Controller, Monk Building, Park Campus).

If you require any assistance with these forms or any other issue associated with the end-of-year processes your Accountant
should be able to provide advice; otherwise please do not hesitate to contact us.



Ray Williams                                                    Karen Janes
(71)4225                                                        (71)4385


DISTRIBUTION
Paul Drake                 Paul Hartley                 Paul van Rossum        Mike Jesnick
Christine Cove             Stewart Dove                 Bill Lawrence          David Owen
Julie Thackray             Phil Gravestock              Clare Hetherington     Camille Stallard
Tamsin Merchant            David Evans                  Andy Simpson           Ellen Taylor
Lesley Upton               Jan Lodge                    Christine Peers        Rob Wood
Mike Cogger                Dan Howard                   Keith Sharp            Jim Simpson
Nigel Wichall              Jackie Baines                Daniella Tilbury       Stephen Hill
Ann Mathie                 Gideon Capie                 Martin Jenkins

c.c.
Abi Aversa                 Annette Harmer               Alison Sibery          Victoria Watt
Ahmed Ginwalla             Rachel Smith                 Amanda Evans           Cheryl Harper
Beverley Tartaglia         Toni Elkins                  Sarah Wightman         Helen Wiseman
Mike Palmer                Vicky Burden                 Katherine Watson



                                                               2
Appendix 1 - Timetable


Key Events                                                 Responsibility             Start Date   University Coordinator

University & Grant Thornton preliminary planning           Finance & Planning         3 April      RW

Audit Committee to consider 2008 Audit Strategic Plan      Audit Committee            11 June      CS/RW
& Accounting Policies FRS18

University position paper (Impairment Review)              Finance & Planning         27 June      RW

Year-end instructions issued to all Agresso users and      Finance & Planning         27 June      KJ/RW
budget holders

Guidance issue and local briefings to F&P                  Finance & Planning         27 June      KJ/RW

Review Agresso Purchase Orders to ensure that POs are      Finance & Planning         14 July      KJ/AA
closed that have no active lines.

Staff Expenses to Finance & Planning                       Faculties & Departments    14 July      KJ/RW
                                                           (Campus Accountants)

Requests sent out for Transparency Review data             Finance & Planning         18 July      KJ/AA

Commence fieldwork planning, risk control assessment       Grant Thornton             21 July      RW
and document control testing. Review of internal audit
work for the year and research reporting processes.                                   (2-3 days)


Complete input of July transactions (period 12)            Finance & Planning         31July       KJ/AA


Stock and cash counts                                      Faculties & Departments    31 July      RW


Closure of financial ledgers for July and transaction      Finance & Planning         1 August     KJ /RW
reports (period 12) produced. Open new period 1 for
2008-2009

Distribute transaction reports and research income         Finance & Planning         4 August     KJ/AA
schedules for Faculty and departmental review

Stock and cash count returns to Finance & Planning         Faculties & Departments    4 August     RW
                                                           (Campus Accountants)

Purchase Card returns for July to Finance & Planning       Faculties & Departments    6 August     RW
                                                           (Campus Accountants)

Subsidiary company accruals and prepayments returned       Estates, London Campus &   6 August     RW/AH
to Finance & Planning                                      Students’ Union

Commence Agresso accruals review                           Finance & Planning         6 August     RW/KJ


University prepayments, accruals and research income       Faculties & Departments    8 August     KJ/AA
schedules to be returned to Finance & Planning             (Campus Accountants)

Commence fieldwork planning, risk control assessment       Gant Thornton              11 August    RW
and document control testing. Review of internal audit
work for the year and research reporting processes.                                   (2-3 days)


Draft Financial Statements for subsidiary and associated   Finance & Planning         11 August    RW/AH/VW
companies




                                                                  3
Draft Letter of Representation and Related Parties    Finance & Planning             11 August      RW/Grant Thornton
(FRS8)

Extract full year individual staff costs              Finance & Planning             11 August      KJ/MP


All time sheet returns to be complete                 Faculty Managers & Campus      11 August      KJ/MP
                                                      Accountants

Extract LIS Admin Computing staff time and non-pay    Finance & Planning             11 August      KJ/AA
analysis

HEFCE Space Summary to Finance & Planning             Estates - Technical Services   11 August      KJ/AA
                                                      Manager

Staff numbers, headcount and FTE, by department and   University Registrar &         11August       KJ/MP
category                                              Secretary

Reprographic and Photocopying costs by department     Finance & Planning             11 August      KJ/AA

Number of PCs split between staff and students        Finance & Planning             11August       KJ/AA

Learning Centre borrowing statistics                  Finance & Planning             11August       KJ/AA

Complete accruals posting                             Finance & Planning             15 August      KJ/RW
First trial balance for University review             Finance & Planning             15 August      RW/AA

Department allocations to HESA cost centre agreed     Director Resources             18 August      KJ/AA

Review of Academic Departments for any late           Campus Accountants             18 August      KJ /RW
adjustments. Journals and other forms to be sent to
Financial Controller

Draft HESA Financial Return                           Finance & Planning             22 August      KJ/AA

Draft Financial Statements for the University         Finance & Planning             1 September    RW

Audit fieldwork commences for subsidiaries and        Grant Thornton                 8 September    RW/AH/VW
associated companies. Commence TPA audit

Audit field work for University commences             Grant Thornton                 8 September    RW

Audit progress review week 1                          Grant Thornton & F&P           12 September   CS/RW

Audit field work for University continues             Grant Thornton                 15 September   RW

Audit progress review week 2                          Grant Thornton & F&P           19 September   CS/RW

Audit field work for University completes             Grant Thornton                 22 September   RW

Audit Committee review of progress                    Audit Committee                23 September   CS/RW

Finance & General Purposes Committee review of        F & GP Committee               30 September   MJ/CS
progress

Complete audit field work                             Grant Thornton                 3 October      CS/RW

Meeting with HOD Finance & Planning and Audit         Grant Thornton & F&P           3 October      CS/RW
Manager to finalise issues arising from audit.




                                                              4
Draft Consolidated Financial Statements                      Finance & Planning          6 October        RW

Commence audit fieldwork on consolidation statements;        Grant Thornton              8 October        RW
ILR; TDA and Operating Financial Review

Completion of consolidated accounts, Reports of Council      Finance & Planning          10 October       RW
and Chair of Council

Complete HESA Financial Return                               Finance & Planning          15 October       KJ/AA

Pre-Clearance Meeting with HOD Finance & Planning            F&P & Grant Thornton        15 October       RW
and Audit Manager to review Financial Statements &
Reports

Clearance Meeting with Director Resources, Audit             F&P & Grant Thornton        17 October       CS/RW
Partner and relevant staff to finalise issues arising from
audit and to discuss the draft Audit Findings.

Finance & General Purposes Committee review                  F & GP Committee            28 October       CS/RW
Financial Statements and Audit Findings.

Audit Committee review of Financial Statements and           Audit Committee             29 October       CS/RW
Audit Findings.

Post Clearance Meeting (representatives as above) if         F&P & Grant Thornton        29 October       RW
necessary

Presentation to Council of Financial Statements, Audit       University Council          26 November      CS/RW
Findings and signing accounts

Submission Annual Report & Financial Statements to           Finance & Planning          31 December      RW
HEFCE

Submission HESA Financial Return                             Finance & Planning          31 December      KJ/AA

Submission HEFCE Transparency Review Data                    Finance & Planning          31 December      KJ/AA




NB
     1.   Commencing 8 September HOD Finance & Planning and/or Financial Controller and Audit Manager to meet fortnightly to
          discuss progress and issues
     2.   Commencing 15 October all amendments to the Financial Statements to be coordinated through the HOD Finance & Planning
          and the
          Audit Manager.

     3.   University Coordinator

          CS         Camille Stallard               AH       Annette Harmer         KJ        Karen Janes
          VW         Victoria Watt                  AA       Abi Aversa             RW        Ray Williams
          MP         Mike Palmer


     4.   Key:
                     Council Meetings


                     Audit Planning Meetings


                     Audit Field Work




                                                                    5
                                                                                                                Appendix 2
University of Gloucestershire
Audit 2008 - Guidance to end of year processes


GENERAL

 Period 12 will close on the 31st July 2008, 5.30pm, period 13 opened for accruals and prepayments.
 Period 12 reports will be run on 1st August and distributed no later than 4th August by Finance and Planning.
 Period 13 will be closed at 12.00 noon on Monday 4th August to allow for a final review by Campus Accountants and
  reopened on Tuesday 5th August.
 Faculties and departments to prepare accruals and prepayments, that do not relate to Agresso Purchase Orders, on the
  basis of reported transactions, to be returned by 6th August. All forms to be returned to Abi Aversa, Finance and
  Planning, Medway Building, Park Campus.


PURCHASE ORDERS

Normal accounting rules require that goods and services received on or before 31st July 2008 count as expenditure within
the current financial year. As part of preparing the annual accounts for the University, it is incumbent upon all staff to
ensure that normal accounting rules are followed wherever possible. It is an area to which the external auditors pay
particularly close attention during their audit of the University’s accounts.

The following guidance is given to assist in determining which financial year expenditure falls into. Please ensure all your
staff are aware of these guidelines as appropriate.


1. CURRENT YEAR (2007/2008) EXPENDITURE ON GOODS AND SERVICES

Any goods which have been physically delivered into the care of the University on or before 31st July 2008 should be
accounted for in the current financial year.

     Record the delivery of the goods or services on Agresso by way of GRN no later than 12 noon on 1st August
      2008

     Ensure that the date of the GRN posted to Agresso is on or before 31st July 2008.

Do not worry if you have not received an invoice for the goods before the 31 st July, as this expenditure will be accounted
for by Finance and Planning, but it is imperative that the goods have been RECEIVED.


2. EXPENDITURE ON GOODS AND SERVICES AGAINST NEXT YEAR’S BUDGET

Where goods or services have not been physically received before 31 st July this will be taken as expenditure in the next
(2008/2009) financial year regardless of when you raised the order or whether you have been invoiced.

     Please ensure that the delivery date of the GRN is the actual date the goods were received (i.e. on or after 1st
      August 2008).


You may also wish to raise orders in July for goods and services which are not required until the next academic/financial
year e.g. conference bookings, which should generally have a delivery date of after 31 st July. These will show as
2008/2009 expenditure unless an upfront payment is required, which will need to be taken account of as prepaid
expenditure (Form PREPAYEXP)

     Please keep a list of any such prepayments and send copies of the list and the relevant invoices to your Accountant
      by 1st August (see details below).
3. CONTRACTS AND CONTINUOUS SERVICES SUPPLIED THROUGHOUT THE YEAR

Agresso orders for services may cover a period of up to five years. Unless there is an accounting adjustment recognising
the value relating to future financial years, all of the expenditure will fall against the current financial year’s budget.

     If supplies of continuous services (e.g. maintenance contracts) extend into the new financial year, continue to code
      invoices as normal but please send a copy of the relevant invoices to your Accountant by 1 st August, so that Form
      PREPAYEXP can be completed

     Any contracts or part of which are paid in arrears will need to be recorded on Form ACCRUEXP and accrued.
      Please send a copy of the relevant details to your Accountant by 1 st August.


PURCHASE CARDS

 All purchase card transactions prior to July 2008 will be posted by Finance and Planning in period 12. Where
  detailed information is not provided by the cardholder, all expenditure will be pursued by the Campus Accountants
  and posted against the Work Order of the cardholder.
 July purchase card statements will be despatched to cardholders by Finance and Planning by 30 July.
 The statements should be returned to Amanda Evans, Finance and Planning, Waterworth Building, Park Campus by
  6th August. All statements that are returned will be included in period 13 using the coding provided and posted to the
  ledgers by 7th August. All other statements will be pursued by the Campus Accountants and accrued for against the
  Work Order of the cardholder.
 Please ensure that your Campus Accountant/Central Services Accountant is informed of any purchases made on your
  purchase card that relates to the next financial year as per the guidelines given under the Purchase Order section
  above.


PERSONAL EXPENSES

 All personal expenses submitted to Finance and Planning by Monday 14th July will be included in period 12.
 All personal expenses relating to 2007/2008 not submitted by Monday 14th July should be notified to your Campus
  Accountant/Central Services Accountant in order that they may accrue for them using form ACCRUEXP.


LATE SALES AND OTHER INCOME ACCRUALS

 Aged debt reports (Financial Accounting Team) on 1st August.
 Faculties and departments to prepare late sales and accrued income on the basis of reported transactions, to be
  returned by 6th August. Forms to be returned to Abi Aversa, Finance and Planning.
 July dated sales invoices received after 1st August to be posted in new period 1 and filed under “July” in journal
  number order. These should be sent to Abi Aversa, Finance and Planning for checking against accrued income.
University of Gloucestershire                                                                Appendix 3
Audit 2008 - Guidance to end of year processes

Finance & Planning Contacts


Information relating to Academic Departments should be sent to the appropriate Accountant:

Ahmed Ginwalla                  Campus Accountant, Oxstalls                           5139
Rachel Smith                    Campus Accountant, The Park                           4357
Helen Wiseman                   Campus Accountant, Pittville                          4943
Alison Sibery                   Campus Accountant, FCH                                4576


Please send information relating to Professional Departments to:

Vicky Burdern                   Central Services Accountant,                          4387
                                Medway Building, The Park


Please send completed accruals and prepayment forms to, and refer any general queries to:

Abi Aversa                      Financial Planning & Reporting Manager, Medway        4386
                                Building, The Park

Compliance Forms should be sent to:

Ray Williams                    Financial Controller,                                 4225
                                Waterworth Building, The Park

Inventory Confirmation Sheets should be sent to:

Annette Harmer/Victoria         Principal Accountant,                                 4384
Watt                            Medway Building, The Park


Purchase Card Statements should be returned to:

Amanda Evans                    Purchase Ledger Manager,                              4228
                                Waterworth Building, The Park
University of Gloucestershire                                                                      FORM INV
Audit 2008 – Guidance to end of year processes



INVENTORY CONFIRMATION SHEET

Confirmation statement                                                               Response


All items purchased during the year have been added to the                            Yes/No
Faculty/Department inventory, held on the Z drive

All items disposed of during the year have been noted as such                         Yes/No

Date inventory last updated




Signed:                                            Date:

Print Name:


Please ensure that inventory is maintained throughout the year as and when items are purchased or disposed.

The Inventory Confirmation Sheet should be returned by the 31 st August to Finance & Planning (Annette Harmer
or Victoria Watt, Finance & Planning, Medway Building, Park Campus).
University of Gloucestershire                                                                             FORM COM
Audit 2008 – Guidance to end of year processes




FINANCIAL REGULATIONS AND PROCEDURES




I confirm that to the best of my knowledge I have complied with the University of Gloucestershire Financial Regulations
and Procedures for the year ended 31st July 2008.



Name:

Signature:



Date:



Details of the University Financial Regulations & Procedures may be found on the University web site under:

www.glos.ac.uk/departments/financeplanning/financeacc/regulations/index.cfm




The Financial Regulations & Procedures Confirmation Sheet should be returned by the 31st August to Finance &
Planning (Ray Williams, Finance & Planning, Monk Building, Park Campus).
University of Gloucestershire                                FORM CASH
Audit 2008 – Guidance to end of year processes


PETTY CASH COUNT
FINANCIAL YEAR ENDED 31ST JULY 2008


COUNT FOR DEPARTMENT:……………………………………………………………………………………


COINS                                                    £

1P

2P

5P

10P

50P

100P



NOTES

£5.00

£10.00

£20.00

£50.00

TOTAL CASH

UNRECORDED VOUCHERS

TOTAL CASH BOX

REIMBURSEMENT REQUEST

TOTAL FLOAT




Checked by:                                      Date:

Approved by                                      Date: