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MEMORANDUM
To: See Distribution
CC:
From: Karen Janes, Finance and Planning,
Date: 30 June 2009
Re: END OF YEAR FINANCIAL PROCESSES – 31st July 2009
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 2009.
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 2009
c) Form ACCRUINC Accrued Income for sales invoices not issued before 31st July for work completed in
2008/2009
d) Form DEFINC Deferred Income for income received in 2008/2009 but which all or part relates to the
next (2009/2010) 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 7th August 2009.
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 2009. 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 (Emma Done,
Principal Accountant, Medway 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
Katherine Watson or Emma Done 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 2009,
as set out under a recommendation from the Audit Committee dated 23rd February 2005. On completion all compliance
forms should be forwarded to Annette Harmer (Principal Accountant, Waterworth 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 me.
Karen Janes Camille Stallard
Resources Planning Manager Acting Director of Finance
Finance & Planning
(01242 71) 4385
DISTRIBUTION
Paul Drake Paul Hartley Paul Bowler Kevin Richardson
Christine Cove Stewart Dove Bill Lawrence Ben Calvert
Julie Thackray Phil Gravestock Clare Hetherington Camille Stallard
Tamsin Merchant Andy Simpson Ellen Taylor Mary Mahoney
Lesley Upton Jan Lodge Christine Peers Rob Wood
Mike Cogger Keith Sharp Jim Simpson Nigel Curry
Nigel Wichall Daniella Tilbury Stephen Hill Martin Jenkins
Ann Mathie Gideon Capie Yvonne Olver Helen Pearson
Peter Childs Jill Stuart Brian Miller
c.c.
Abi Aversa Annette Harmer Alison Sibery Emma Done
Ahmed Ginwalla Rachel Davidson Cheryl Harper Mike Palmer
Beverley Tartaglia Toni Elkins Sarah Wightman Helen Wiseman
Vicky Burden Katherine Watson Wayne Burham
2
Appendix 1 - Timetable
Key Events Responsibility Start Date University Coordinator
University & Grant Thornton preliminary planning Finance & Planning 15 May 2009 RW
University position paper (Impairment Review) Finance & Planning May/June ED
Audit Committee: to consider 2009 Audit Strategic Plan Audit Committee 3 June 2009 CS/RW
& Accounting Policies FRS18
Year-end instructions issued to all Agresso users and Finance & Planning 26 June 2009 KJ/RW
budget holders
Guidance issue and local briefings to F&P Finance & Planning 26 June 2009 KJ/RW
Full Council: Strategic Plan and Budget 2009-2010 1 July 2009
Agresso procurement review return from budget holders All Budget holders (Campus 13 July KJ/AA
Accountants)
Staff Expenses to Finance & Planning Faculties & Departments 13 July KJ/RW
(Campus Accountants)
Commence fieldwork planning, risk control assessment Grant Thornton 13 July 2009 RW
and document control testing. Review of internal audit
work for the year and research reporting processes. (2-3 days)
Agresso procurement housekeeping exercise commences Finance & Planning 15 July KJ/AA
Requests sent out for Transparency Review data Finance & Planning 17 July KJ/AA
Complete input of July transactions (period 12) Finance & Planning 31 July KJ/AA
Stock and cash counts Faculties & Departments 31 July RW/AH
Closure of financial ledgers for July and transaction Finance & Planning 31 July KJ /RW
reports (period 12) produced. Open new period 1 for
2009-2010
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/AH
(Campus Accountants)
Subsidiary company accruals and prepayments returned Estates, London Campus & 5 August RW/KW
to Finance & Planning Students‟ Union
Commence Agresso accruals review Finance & Planning 5 August RW/KJ
University prepayments, accruals and research income Faculties & Departments 7 August KJ/AA
schedules to be returned to Finance & Planning (Campus Accountants)
Commence fieldwork planning, risk control assessment Gant Thornton 10 August RW
and document control testing. Review of internal audit
work for the year and research reporting processes. (2-3 days)
Commence review of subsidiaries.
3
Draft Financial Statements for subsidiary and Finance & Planning 10 August RW/ED/KW
associated companies
Draft Letter of Representation and Related Parties Finance & Planning 10 August RW/Grant Thornton
(FRS8)
Extract full year individual staff costs Finance & Planning 10 August KJ/AA
All time sheet returns to be complete Faculty Managers & Campus 10 August KJ/AA
Accountants
Extract ICT Admin Computing staff time and non-pay Finance & Planning 10 August KJ/AA
analysis
HEFCE Space Summary to Finance & Planning Estates - Technical Services 10 August KJ/AA
Manager
Staff numbers, headcount and FTE, by department and Finance & Planning 10August KJ/AA
category
Reprographic and Photocopying costs by department Finance & Planning 10 August KJ/AA
Number of PCs split between staff and students Finance & Planning 10 August KJ/AA
Learning Centre borrowing statistics Finance & Planning 10 August KJ/AA
Complete accruals posting Finance & Planning 14 August KJ/RW
First trial balance for University review Finance & Planning 14 August RW/AA
Department allocations to HESA cost centre agreed Finance & Planning 17 August KJ/AA
Review of Academic Departments for any late Campus Accountants 17 August KJ /RW
adjustments. Journals and other forms to be sent to
Financial Controller
Draft HESA Financial Return Finance & Planning 21 August KJ/AA
Draft Financial Statements for the University Finance & Planning 31 August RW
Audit fieldwork commences for subsidiaries and Grant Thornton 7 September RW/AH/KW
associated companies. Commence TPA audit
Audit field work for University commences Grant Thornton 7 September RW
Audit progress review week 1 Grant Thornton and F&P 11 September CS/RW
Audit field work for University continues Grant Thornton 14 September RW
Audit progress review week 2 Grant Thornton and F&P 18 September CS/RW
IF Required - Audit field work for University completes Grant Thornton 21 September RW
Audit Committee: review audit progress Audit Committee (pm) 29 September CS/RW
Finance & General Purposes Committee: progress review F & GP Committee (am) 29 September CS/RW
Full Council 30 September CS/RW
4
If required - Complete audit field work Grant Thornton 2 October CS/RW
Meeting with HOD Finance & Planning and Audit Grant Thornton & F&P 2 October CS/RW
Manager to finalise issues arising from audit.
Draft Consolidated Financial Statements Finance & Planning 5 October RW
Draft OFR Acting Director Finance 5 October CS
Commence audit fieldwork on consolidation statements; Grant Thornton 7 October RW
ILR; TDA and Operating Financial Review
Completion of consolidated accounts, Reports of Finance & Planning 9 October RW
Council and Chair of Council
Pre-Clearance Meeting with HOD Finance & Planning F&P & Grant Thornton 9 October CS/RW
and Audit Manager to review Financial Statements &
Reports
Complete HESA Financial Return Finance & Planning 14 October KJ/AA
Clearance Meeting with Director Resources, Audit F&P & Grant Thornton 16 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 27 October CS/RW
Financial Statements and Audit Findings.
Audit Committee: review of Financial Statements and Audit Committee 28 October CS/RW
Audit Findings.
If necessary F&P & Grant Thornton 28 October CS/RW
Post Clearance Meeting (representatives as above)
Full Council Presentation of Financial Statements, Audit Acting Director Finance 25 November CS
Findings and signing accounts
„Single conversation‟ annual accountability returns to Finance & Planning 1 December KJ/RW
HEFCE
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 RW Ray Williams AH Annette Harmer
KJ Karen Janes AA Abi Aversa ED Emma Done
4. Key:
Council Committees Audit Planning 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 2009, 5.30pm, period 13 opened for accruals and prepayments.
Period 12 reports will be run and distributed on 3rd August by Finance and Planning.
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 7th 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 2009 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 (2008/2009) EXPENDITURE ON GOODS AND SERVICES
Any goods which have been physically delivered into the care of the University on or before 31st July 2009 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 5pm on 31st July 2009
Ensure that the date of the GRN posted to Agresso is on or before 31st July 2009.
Do not worry if you have not received an invoice for the goods before the 31st 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 31st July this will be taken as expenditure in the next
(2009/2010) 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 2009).
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 31st July. These will show as
2009/2010 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 1st August.
PURCHASE CARDS
All outstanding purchase card transactions prior to July 2009 will be posted by Finance and Planning in period 12.
Where detailed information is not provided by the cardholder, all expenditure will be posted against the Work Order
of the cardholder on 17th July.
July purchase card statements will be despatched to cardholders by Finance and Planning by 31st July.
Finance and Planning will post all July purchase card transactions to the WorkOrder of the cardholder, if expenditure
relates to project work, please inform your Accountant to arrange for the expenditure to be recoded appropriately.
Please ensure that your 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 13th July will be included in period 12.
All personal expenses relating to 2008/2009 not submitted by Monday 13th 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 3rd August.
Faculties and departments to prepare late sales and accrued income on the basis of reported transactions, to be
returned by 7th August. Forms to be returned to Abi Aversa, Finance and Planning.
July dated sales invoices received after 31st July to be posted in the 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 2009 - 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 Davidson 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:
Annette Harmer Principal Accountant, 4049
Waterworth Building, The Park
Inventory Confirmation Sheets should be sent to:
Katherine Watson/ Emma Principal Accountant, 4384
Done Medway Building, The Park
University of Gloucestershire FORM INV
Audit 2009 – 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 (Katherine
Watson or Emma Done, Finance & Planning, Medway Building, Park Campus).
University of Gloucestershire FORM COM
Audit 2009 – 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 2009.
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 31 st August to Finance &
Planning (Annette Harmer, Finance & Planning, Waterworth Building, Park Campus).
University of Gloucestershire FORM CASH
Audit 2009 – Guidance to end of year processes
PETTY CASH COUNT
FINANCIAL YEAR ENDED 31ST JULY 2009
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:
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