Past What's New Archives
The 2010/11 tuition sponsorship form is available at
http://www.students.ubc.ca/finance/download/fees_sponsorship.pdf
If you require further details, please email sponsorship@finance.ubc.ca.
Account 713001 Professional Fees - Individuals PO & T4A - A new general ledger account, 713001, has been introduced for individuals who are part of a Canadian business which does not have a business number, but is required to have a purchase order (PO) contract with UBC. The account is part of Consulting Fees and use of this account will generate a T4A. A T4A is needed to ensure that the University correctly reports earnings paid to this category of individuals. The use of 713001 rather than 522000 will also ensure that PO commitments are properly calculated at the beginning of each fiscal year. Additional information can be found 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.
Vendor VAT Cleanup - For new regulations on Vendor GST/HST registration numbers and how they must be recorded, please click here.
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.
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 University's 2010/11 Operating Budget was approved by the Board of Governors on April 8, 2010; to view the budget presentation and allocation document, please click here.
The IT Expense Account Structure has recently changed - for information, definitions and guidance on classifying and recognizing IT expenses please click here.
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.
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.
2009 Tax Slips Online - UBC Financial Services 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 this year, or in the future.
Printed 2009 slips will be mailed at the end of February.
Having problems or questions? Please look at our Tax Slip FAQ
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.
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.
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.
Increased Purchase Order (PO) Minimums and Associated Payment Processes - Financial Services and Supply Management have worked together to review current PO limits and payment processes to ensure alignment with UBC policy, authority delegations, audit compliance, and good business practices. Considerable time has been spent analyzing spend patterns and identifying possible improved efficiencies. As a result of these efforts, the financial limits and procedures have been amended to be in effect May 1, 2009. Please refer to the related Memorandum for further details.
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 revised Endowment Management Policy 113 that will come into effect on April 1, 2009 & June 1, 2010;
- 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.
Honoraria Process for Non-Union Staff Members: Effective November 27, 2008 there is a new Staff Honoraria Form for non-union staff members HERE. Please click HERE to view the guideline for processing honoraria for non-union staff.
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.
Last reviewed 
4/20/2012 3:56:34 PM
