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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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