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- About us
- Financial regulations and policies
- Capital planning and project authorisation
- Financial operations
- Financial planning, management and reporting
- Timetables
- Processes and procedures
- Financial reporting pack
- Financial Statements
- Systems
- Partnerships
- Research
- Student Finance
- Internal and external audit
- Procurement Services
Timetables
Month end close down
Financial transactions are recorded on the main finance system Aptos against a specific month (or period). At the end of each month we operate a structured month end timetable. This is for the following reasons:
- For budgetary control purposes, users need to know when data is complete for a period and reports can be run which will not be subject to later amendments.
- For VAT purposes, it is vital that there are no late amendments after the VAT return has been prepared.
- For financial accounting purposes, the preparation of timely monthly cash flow monitoring and other financial reports relies on a defined cut-off date.
The relevant dates for each month are set out in the 2011/12 APTOS month end close down timetable below:
| Month end | Main closedown of period at 17.30 (all ledgers closed except to central Finance) End of 7th working day | Period fully closed at 17.30 to all except exceptional back posting End of 8th working day | |
|---|---|---|---|
| Jan 2012 | Thu 9 February | Fri 10 February | |
| Feb 2012 | Fri 9 March | Mon 12 March | |
| Mar 2012 | Thurs 12 April | Fri 13 April | |
| Apr 2012 | Thurs 10 May | Fri 11 May | |
| May 2012 | Wed 13 June | Thurs 14 June | |
| June 2012 | Tues 10 July | Wed 11 July | |
| July 2012 | Covered by year end timetable | ||
In year financial monitoring and forecasting
Budgets are prepared each year and approved by Council. Monitoring then takes place through the year of actual transactions compared to budget and a revised forecast outturn for the year is prepared and reported to VCEG and to Council.
A timetable for monthly monitoring, forecasting and reporting is set out for:
- Colleges (still to be provided)
- Professional Services (still to be provided)
Year end close down
The University’s financial year end is 31 July. The University’s financial statements must be prepared, audited and approved by Council in time for submission to HEFCE by the end of November.
In order to ensure the financial statements are delivered on time a detailed timetable is prepared. Colleges and Services must ensure that they adhere to the timetable and associated procedures:
- 2012 Year End Summary Timetable
- 2012 Year End Detailed Timetable
- 2012 Year End Presentation
- CD1-2012-A Creditors
- CD1-2012-B Prepayments
- CD2-2012-A Debtors
- CD2-2012-B Income in Advance
- CD1-2012-C
