WELCOME TO UBC FINANCE
Customer driven, information focused
a place of mind
new ubc finance website
As UBC ushers in a brand new school year, we are excited to announce our transition to a brand new UCB Finance website!
On Tuesday, September 13 (at 1:00PM), a new and improved Finance website will take over the www.finance.ubc.ca domain.
The new website boasts several improvements over the current site, including:
- Better alignment with the overall UBC “look & feel”
- Improved navigation, including expandable sidebars
- Dynamic functionality & logical content placement
- Increased “user friendliness”
- Enhanced visual appeal
We’ve also taken this opportunity to remove old and stale content, and the new site will be a more vital resource for internal & external stakeholders.
We encourage critical user feedback and the new website’s front page has a “Tell Us What You Think” button that leads to a virtual suggestion box.
If you have any questions, suggestions or concerns regarding the new website, please contact Stephanie Butler, Learning & Communications Coordinator.
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Finance Department
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What's New?
Board Approved 2011/12 Budget here
With recent changes in reporting lines, Enterprise Risk Management now reports to Risk Management Services, though there continues to be a strong link to Finance. Enterprise Risk Management can still be found on the Finance website in the interim.
Research Subject Payments Policy - This policy is to define the business processes that should be followed for research subject payments, for more information please click here.
Purchase Requisitions & Purchase Order Processing - Service Level Changes - In order to minimize delays, eliminate errors requiring protracted resolution, increase compliance with University Purchase Order (PO) procedures, strengthen audit controls, and improve overall customer service, UBC Supply Management and Financial Services departments (in consultation with end-user groups), have concluded a process streamlining review for Purchase Requisition (PR) activity and payments for goods or services over $3,500. Click here for more information.
2010 T4 and T4A Slips are Online
Hiding SIN in Smart Forms - Effective November 1st, 2010, SIN numbers will be hidden from the data entry screen as well as the hard copy of Honorarium Smart Forms. Click here for more information.
AMEX- Direct Deposit - Direct Deposit has been set up for payments to American Express Travel Cards. Please click here for FMS online data-entry procedures, or for Smartform procedures in detail.
Rejected Payroll Appointments Policy - To ensure that rejected payroll appointments are resolved in a timely manner primarily to prevent the occurrence of over-expenditure in the project grant (PG). To view the policy, please click here.
Consolidated Financial Statements - The University's March 31, 2010 Consolidated Financial Statements are now available online. To view, please click here.
With the consolidation of activities in General Purpose Operating (GPO), Fee for Service (FFS) and Continuing Studies (CS) funds into the Operating fund, more revenues currently being booked in FFS or CS funds are expected to be recognized in the GPO fund for all departments in both campuses. This memo outlines how this is to be accomplished, as well as includes an FAQ section for clarification on some potential questions.
Please click here to review the updated JV Policy and Procedures.
Tri-Council Travel Expense Guidelines -
New guidelines for handling travel expenses pertaining to
Tri-Council Research are now available, please click here
for more information.
The IT Expense Account Structure has recently
changed - for information, definitions and guidance on classifying
and recognizing IT expenses please click here.
2009/2010 Financial Statement Certification - The
2009/2010 Unit Financial Certification Statements and Questionnaire
is now available. Please click here
for more information.
Taxable Benefits - For more information
on which employee benefits are subject to CPP, EI, and GST/HST
and guidelines for reporting taxable benefits, please click
here.
Project Titan - an initiative to implement
a new Campus-Wide Budgeting tool, and Project Atlas
- an initiative to implement a new Campus-Wide Position Management
system to enable the campus to perform Position-based budgeting.
For more information on these two projects, please refer to
the UBC
IT project website.
HST Implementation - As of July 1st, 2010
the province of British Columbia will implementing Harmonized
Sales Tax (HST). For more information on HST implementation
preparations and the effect of HST on UBC, please click here.
Fee for Service Overhead - Effective April
1, 2010, 2% overhead will no longer be charged on Fee for
Service PGs.
Module 1 Pre-requisite - As of April 1,
2010 all participants completing their FMS Certification will
be required to complete the online Module 1 - Pre-requisite
Policy Quiz before registering for Module 1 in-class training.
For more information or to register for this course, please
click here.
Re-Certification Training - Finance Training
is pleased to announce the launch of the online Re-Certification
exam in April of 2010. All Data-Entry Processors and Reviewers
in FMS Certified Departments will be required to complete
the the exam by June 25, 2010 in order to retain their certification
status. For more information, please click here.
2009 Tax Slips Online - UBC Payroll has
now issued 2009 T4 and T4A slips online through Faculty
and Staff Self Service. These PDF slips can be used to
calculate RSP contribution room, are identical to the printed
form and are accepted by CRA when filing your taxes. If you
choose PDF tax slips, you will not receive a printed slip.
Printed 2009 slips will be mailed at the end of February.
Having problems or questions? Please look at our Tax
Slip FAQ
Document Imaging Guidelines – Guidelines
for the retrieval of document images stored in FMS are now
available through the Finance website. To view these guidelines,
please click here.
Endowment Updates - Individual endowment
fund reports are now available online through the Management
Systems Portal. Business officers and administrators with
Campus Wide Login and FMS nQuery ID will be able to view these
reports. The endowment fund reports will be generated on a
quarterly basis.
An endowment training session is offered quarterly to help
business officers and administrators understand the new account
structure, have a working knowledge of various processes,
policies and procedures, and interpret and comprehend endowment
reports. Please click here
for more information.
Requisition for Payment Form - Finance is
pleased to announce that the Requisition
for Payment (Q-Req) forms now incorporate the PO Exemption
details, thereby eliminating the need for a separate PO Exemption
form. The new Q-Req forms include the fields of PO Exemption
Number, Contract Agreement Reference Number and the Justification
required for non-Purchase Order (PO) purchases over $3,500.
The change allows us to reduce our paper usage as well as
eliminate the separate authorization step required on the
old PO Exemption form. For more information, please click
here. For more information
on PO Policy changes please refer to the related Memorandum.
Staff tuition Waivers Online - Tuition Waivers
for staff are now available through Employee Self Service.
This new, online waiver evaluates and approves waivers instantly,
and sends the approved waivers to Enrolment Services/Continuing
Studies the following day. See
here for more details>>
Employee or Contractor? UBC hires people
for a variety of positions to do a wide range of jobs.
Sometimes there is confusion around whether the individual
hired for a task can be paid as an independent contractor
rather than as an employee. Click here
for more information on these roles and making the right decision.
Payment Card Industry (PCI) Data Security Standards
(DSS) Compliance - The Province of BC and UBC are
obliged to comply with the Payment Card Industry Data Security
Standard (PCI DSS). This standard was developed by major
credit card companies to increase consumer confidence and
reduce identity theft and credit card fraud by safeguarding
sensitive confidential credit card data. For more information
regarding PCI DSS Compliance at UBC please click here.
Changes to Endowment Management Policy -
On February 5, 2009, the Board of Governors
approved changes to endowment policies and procedures.
The approved changes include:
- a new spend rate of 3.5% for the 2009/10 fiscal year;
and
- the decapitalization of any previously capitalized income
to the extent that net income has fallen short of aggregate
spending.
Requisition for payment to third parties
- Effective May 23, 2007, for Financial Information Act (FIA)
reporting purposes, the EMPLOYEE NUMBER must be entered in
the "Alternate Vendor Number" field when payment is made to
a third party on behalf of an employee. If the payment is
not for an UBC employee, please enter NON-UBC in the "Alternate
Vendor Number" field. This field can not be left blank.
Web based Excel templates for Purchase Requisitions (Q-Reqs)
and Travel Claims (TR Reqs) are now available on the Finance
website. Please click here for the forms
and instructions.
We have been advised by HSBC to NOT issue US cheques
to non US domiciled beneficiaries since this is against the
US clearing rules administered by HSBC’s affiliate bank
in the USA. As a result please ensure either to write down
“bank draft” on or attach the completed “EFT
form” to the Requisition Form when you process payment
to any non US domiciled companies or individuals.
PeopleSoft FMS Certification - For departments
interested in entering certain Accounts Payable and General
Ledger transactions directly into the PeopleSoft FMS system,
please visit the following link, which provides detailed information
on the certification process, including the training life-cycle,
course schedule, and course descriptions:
http://www.finance.ubc.ca/financecertification/index.cfm
Subscribe to the Finance Listserv - The
new listserv allows individuals, at their option, to subscribe
to the list and receive periodic emails from Finance via e-mail.
This service alleviates the need to constantly check our web
site for new information, and hopefully will reduce some of
the multiple e-mails that many received in the past.
The information distributed on this list will contain information
relating to the financial systems of the University and other
information that will be useful for campus administrators.
For more information on subscriptions click
here.
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