Contact person: Riana Venter; (012) 420 4770; [email protected]

NB: In order for the faculty accountant to ensure that the documentation are submitted correctly and on time to the applicable department(s) / person(s), and to ensure that the conclusion of the 2010 Financial Year is finalized successfully, please submit all documentation to HSB 7-27 (Riana Venter) as soon as possible!

1. RECONCILIATION OF PETTY CASH

The policy on petty cash advances requires that all advances should be reconciled at the end of the University's financial year. This means that all expenditure that has been incurred must be recorded by that time. Any cash on hand should be deposited with the cashiers by not later than 3 December 2010.

Where applicable, expenditure vouchers and receipts, for cash deposited, should be submitted to the faculty accountant.

2. RECEIPT BOOKS

All receipt books should be submitted to the Student Accounts Division at room 2-60, Administration Building, not later 3 December 2010. Should a receipt book be required for the remainder of the current financial year, another receipt book will be issued immediately. Should a receipt book not be required, the submitted receipt book should be collected from the same office during the first week of the new year.

Contact person: Unity Borlinghaus (extension 4647)

3. PAYMENT OF INVOICES

Expenditure incurred in respect of the 2010 financial year can only be finalised if approved invoices and delivery vouchers reach the Creditors' Division in time. Members of staff are requested to submit all documents relating to official orders and purchases to the Faculty Accountant before 6 December 2010. The invoices will be recorded against the 2010 financial year. Invoices applicable to the 2010 financial year which are received after 6 December 2010, may still be submitted to the Creditor's Division until 14 January 2011. Provision for such expenditure will be made in respect of the 2010 financial year. Invoices received after 14 January 2011 will be recorded against the next financial year.

4. PAYMENT OF INVOICES OF FOREIGN ORIGIN

All requests received by the Creditor's Division until 6 December 2010 for the payment of invoices that originated in foreign countries will be settled and recorded as expenditure for the 2010 financial year. With regard to invoices that relate to the 2010 financial year and that have been submitted to the Creditor's Division by 14 January 2011, provision will be made for the recording of the expenditure concerned against the 2010 financial year. Invoices submitted after 14 January 2011 will be recorded against the next financial year.

5. SUBMISSION OF VOUCHERS IN RESPECT OF ADVANCES

Advances provided to cover envisaged expenses should be finalised by means of the submission of a final financial advance report. All supporting expenditure vouchers should be attached to the report. Reports regarding advances that are to be finalised in terms of the relevant policy should be submitted by not later than 8 December 2010.

6.GENERAL CLAIMS (excluding remuneration claims)

Members of staff are reimbursed for expenses that they have incurred after a general claim form has been submitted. Claims that relate to the 2010 financial year should be submitted for payment by not later than 15 December 2010. All claims should be accompanied by supporting vouchers. Claims that are received after the latter date will only be paid in and recorded against the next financial year.

7. INCOME FROM SERVICES RENDERED

7.1 ISSUING OF INVOICES FOR SERVICES RENDERED

Applications for the issuing of invoices to external parties for the rendering of services in the 2008 financial year should be submitted to the Debtors' office by not later than 7 January 2011. These invoices will be recorded as income against the 2008 financial year. The provisions of policy documents A16/03 and A17/03 remain applicable.

Contact person: Joyce Awuah (extension 5234).

7.2 CASH INCOME

Income for services rendered during 2010, which is usually received in cash, should be recorded in the 2010 financial year. Information on all income relating to 2010, which has not been recorded by 31 December 2010, should be submitted to the Accountant before 7 January 2011. Income that has already been received in respect of services to be rendered in 2011 should also be recorded correctly. The Finance Department should be advised of such cases before 7 January 2011. All cash received by departments should be deposited with the University in the usual manner before the commencement of the forthcoming recess.

8. COST CENTRES FOR RESEARCH AND GRANTS

8.1 Audited financial reports

Audited financial reports are required for grants received from the NRF, Water Research Commission (WRC), Nature Foundation, Medical Research Council (MRC) and National Cancer Association (NCA). Financial reporting in respect of the NRF, WRC and MRC may only include actual expenses that have been paid.
Please submit reports on advances, general claims and requests for the payment of invoices to the Accountant before the due dates to ensure that the expenditure incurred in 2010 is recorded against grants for 2010.

Expenses that are not recorded cannot be included in the financial reports, with the result that a grant for the particular purpose could be forfeited. Outstanding orders can only be recorded as expenses if proof of delivery can be provided.

8.2 Transfer of unspent funds

During January, the Finance Department will communicate with members of staff in respect of requests for the possible transfer of unspent funds of their NRF and MRC grants.

8.3 Deficit on cost centres

No grant/research cost centre may conclude the year on 31 December 2010 reflecting a deficit. Should there be a deficit, please indicate the source of the funds to cover such deficit. (faculty accountant will be contacting you, if applicable)

9. OPENING BALANCES - FINANCIAL SYSTEM

Preliminary opening balances for capital funds, research funds and certain external funds will be transferred BEFORE 5 January 2011. These transfers are made to enable members of staff to place orders and incur expenditure during the year-end closing period. Please note that the transactions are backdated to the 2010 financial year and that this measure causes the preliminary balances that are transferred to lag behind the actual balances. The Finance Department will update these balances daily (overnight).


10. REMUNERATION

To ensure that all remuneration in respect of 2010 is paid from the personnel budget for 2010, an additional salary run will take place early in January. All remuneration claims for 2010 should be submitted to the Human Resources Department before 1 December 2010. Claims for services rendered during the recess period should be submitted before 3 January. Claims received after 3 January will be paid from the 2011 budget allocations.

Contact person: Vicky Reynders (extention 4136) / Suzie Marx (extension 2146).

11. PriceWaterHouseCoopers

The external audit will commence on 21 February 2011.

Your co-operation to ensure that the 2010 financial year is concluded successfully will be greatly appreciated.

Riana Venter
Faculty Accountant
420 4770