Global Utilities

Commercial, Trading & Services Area Finance

Welcome to the Commercial Trading and Service (CT&S) Areas Finance page. Your comments and feedback are valued (see link below).

Commercial Operations Finance Forum (COFF)

Purpose

 To facilitate improved communication between Finance Division, and the Commercial, Trading & Service (CT&S) areas of the University.

Terms of Reference

1. To inform CT&S areas of new developments in the budgetary, reporting and other relevant processes as it relates primarily to the financial management of the budget unit

2. To obtain feedback from the CT&S areas concerning issues that impact upon them as a means to potentially improve processes.
2006 Forum Dates, Agenda & Minutes
Date Time Venue Agenda Minutes
2 March 9.30am B&G Conf. Rm March Agenda March Mins
6 April 9.30am B&G Conf. Rm April Agenda April Mins
6 July 9.30am O'Leary House, Barnes Way Complex July Agenda July Mins
5 October 9.30am Glenn College, Council Room October Agenda October Mins
7 December 11am - 1pm B&G Conf. Rm   December Mins
         
 
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Budgeting
Budget Guide (PDF file - contains University Budget processes)
Budget Preparation & Templates (links to documents created to assist in the preparation of budgets for the Commercial, Trading & Service areas of the University in 2005 & 2006)
General Service Fee (GSF) Recipients
Please note changes in budget information required for 2006 GSF Budget Process. Review information in Budget Pack below particularly under Budget Format section.
GSF Budget Pack (PDF file)
GSF Budget Template (P&L and Balance Sheet – excel file)
GSF Budget Commentary (to accompany P&L and Balance Sheet – word file)
 
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FRC reporting
Reporting (FRC and other)
FRC Templates (links to documents created to assist in the preparation of FRC reports)
Quarterly Accruals
Budget Units are responsible for ensuring that any material revenues or expenses that will not be processed in SAP in the correct quarter are accounted for by raising a GL accrual journal. This will require consultation with the paying/charging budget unit to ensure that the transaction will definitely not be processed within the quarter. Once this has been established an appropriate journal should be posted for the relevant quarter. Refer to SAP close-off dates to ensure that the accrual is posted in time.

The following is a list of payments/ charges for which GL Accrual Journals may be raised, there could be other payments/ charges appropriate to the budget unit.

• Telephone and Computer services– Telephone, ARNET, Licences, Software, Multimedia, Copyright
• Utilities including Electricity, Water, Rates, Occupancy
• Postage
• Repairs and Maintenance
• Printing and Publishing
 
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Finance/Accounting Guidelines (complements section 6 BPM)
Guidelines for Provision Accounting (Word format)
Good news: New Provision expense accounts classified under Salaries in P&L
Two new GL accounts have been created to replace former LSL and AL provision accounts as follows.
New Accounts Account Name (unchanged) Old Accounts
Account Number P&L Classification Account Number P&L Classification
502430 “Other non-HR payroll expenses” within the Salary grouping Transfers to/from Annual Leave Provision 527030 Transfers & Extraordinary Items” below Operating Surplus/Deficit
502431 Transfers to/from Long Service Leave Provision 527040
Please note: transfer journals must be completed by the 30 June 2005
Please transfer all balances in the old accounts to the new accounts before the end of June 2005 (at which time the old accounts will be closed for posting).
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Forms and Templates
Internal Loans
BPM section 6 contains the Internal Loan application procedures under section 2.12. The application form is required to be completed and submitted to the Manager (Financial Planning and Budgets) in Finance Division.
Budgets
Budget Preparation & Templates
GSF Budget Template
FRC Reporting
FRC Templates
 
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Frequently Asked Questions
1. When does SAP close off?
Finance website has a close-off schedule posted at following link. Please note that SAP month end close-off date is not the same as journal submission date.

Close-off timetable
2. What quarterly report do I need to submit to FRC?
March and June quarter reports are made up of SAP condensed reports (P&L and Balance Sheet). You need to ensure that all expenses and revenues (both external and internal) are recognised in the reports. This may require raising appropriate accrual journals. A standard format commentary (no more than two pages) supporting the SAP financial statements is also required.

September quarter report is an expanded excel format (and includes the following year budget). A September Qtr/budget format commentary (no more than two pages for Part I) supporting the excel report is required. The excel report figures must be taken directly from SAP after the quarter has closed off. Thus all accruals should be posted in SAP as with March and June quarters.

December quarter (year-end) reports are made up of SAP detailed reports (P&L and Balance Sheet). You need to ensure that all expenses and revenues (both external and internal) are recognised in the reports. This may require raising appropriate accrual journals. A standard format commentary (no more than two pages) supporting the SAP financial statements is also required.
 
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Content Approved by: Director, Financial Operations
Page maintained by: Computer Systems Officer
Last Updated: 5 June, 2009

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