The allotment of funds within the university’s chartfield structure (i.e. fund, account, cost centre, activity, time, location) occurs via journal entries. Journal entries are the means to transfer dollars within the financial system. It is used to correct actual cost charges or to re-distribute or re-align actual costs. For a complete instruction on completing journal […]
Cost Centre Defined A 6-digit numeric code used to identify an area of responsibility and to capture financial transactions. Areas may include a department, unit, organization, project, grant, course, or program. The establishment of a cost centre allows the responsible area to account for transactions, including the establishment of budgets, managing the effective spending of […]
Mission Statement To facilitate and enhance innovative and effective business decisions and the attainment, utilization, and allocation of financial resources for academic, administrative, and research units by providing relevant and responsive financial and administrative services. Through our management practices we strive to create a working environment that enables us to use our skills and talents […]
The University establishes standard benefit rates that factor in the cost of providing medical, dental, pension and other statutory benefits to each employee group. These benefits are paid centrally and the benefit rates are established to recover the cost of providing these benefits to each employee group. Benefit rates are reviewed on an annual basis. […]
York University financial statements are prepared in accordance with accounting principles generally accepted for Canadian universities and in accordance with guidelines developed by the Canadian Association of University Business Officers and accounting standards developed by The Canadian Institute of Chartered Accountants.
The following calendars provide due dates for various processes throughout the year. Submitting documents in a timely manner is key to ensuring that the financial process continues in an uninterrupted fashion.
Activity, Time and Location codes, as well as the Revenue and Expense accounts are updated on a regular basis. Visit this webpage regularly to ensure you have the latest version.
Chart of Accounts Financial Calendar Find the most up-to-date Revenue & Expense Codes, Activity/Time/Location Codes as well as Balance Sheet Accounts here. Find Month End and Year End Cut-off Schedules, Key Dates for Researchers as well as the Allocation Schedule here. Link to content Link to content Financial Statements Standard Benefit Rates Find York University's […]
An over-expenditure occurs when actual expenditures and commitments exceed the budget available. Over-expenditures in research grant and contract cost centres are not allowed. The faculty dean can approve temporary funding (budget tolerance) until the next installment arrives and informs Research Accounting in writing. If the installment does not materialize the faculty is responsible for covering […]