All new disbursements and/or adjustments/cancellations of existing disbursements must be entered by Fri April 25^th in the Campus Solutions Financial Aid module as these transactions cannot be completed by journal. This enables posting in the student account in fiscal 2024/25 and ensures trust and endowment statements are accurate.

If a fiscal 2024/25 cheque deposit is received after April 30^th, it must be entered as a May deposit and set up as an accounts receivable for 2024/25, unless the receivable has already been set up through MacBill.

Contact your suppliers to ensure invoices are received and entered by the dates noted. To ensure all goods/services are accurately recorded, the supporting documentation (i.e., invoice and purchase order number if applicable), must clearly indicate the date the goods were physically received or the date the services were completed.

Email aphelp@mcmaster.ca the non-PO voucher number along with “Foreign Payment” in the subject line.

All PCard transactions prior to March statements should be reconciled and approved prior to Wed March 12^th. March transactions will be uploaded to My Wallet on Thu March 27^th, these reconciliations should be reconciled and submitted on or before Mon April 14th.  April PCard transactions will be automatically uploaded to My Wallet on Mon April 28^th. PCard transactions submitted and approved by ALL approvers (except A/P) on or before Fri May 2^nd (WD2), will be posted to fiscal 2024/25.  Remaining outstanding PCard transactions in My Wallet or in workflow (not fully approved) will be accrued by A/P and available by beginning of business day Fri May 9^th (WD7), to the default chartfield on file for the PCard holder in fiscal 2025. The accrual will be reversed in May 2025. Transactions/reconciliations included on the accrual still need to be completed by PCard holders or delegates and will be posted in fiscal 2024/25.

All transactions approved by ALL approvers (except A/P) by the deadline of Fri May 2^nd (WD2), will be reflected in G/L balances in Mosaic at the latest by Wed May 7th (WD5). Should a manual accrual entry be required for additional transactions it will be posted and available by Fri May 9th (WD7). Journal entries to accrue unpaid expenses should only be considered once the A/P cut-off mechanisms are exhausted.  Should an entry be required, ensure supporting documentation is attached to the journal entry and the entry is set up to reverse in May 2025.

The final full pay period in 2024/25 is ending on April 26th, 2025. For the transaction and payroll deadlines, please visit the HR Website. To ensure the full amount of expense is included in the consolidated 2024/25 financial statements, the remaining days of April will be accrued centrally and will not be included in departmental results. Please see Appendix A for more information.

Deferral of fees billed prior to April 30^th through CS (tuition, supplementary fees, etc.) for services to be rendered after April 30^th, are done by Financial Affairs. Therefore, if a fee is billed through CS on the student account, do not defer it.  These entries will be posted by Wed May 7^th (WD5), with the journal line description ‘24/25 CS Fee Deferrals’.

Prior to year end, managers should review PDA/MPDA open items in their departments.  Refer to Mosaic for queries and guidance. In the new fiscal year, Budgeting Services will do the entitlement entries for the fiscal year 2025/26.

Appropriation balances when fiscal 2024/25 closes are the opening balances for fiscal 2025/26. Should you wish to re-allocate your appropriation balances in Fund 20, 30, 45, 72 or 78 prior to the start of the new fiscal year, a transfer journal entry must be completed before fiscal 2024/25 closes. You may wish to complete this transfer entry on Tue May 13^th (WD9), once most year end entries are completed. Account 480099 has been added to separately identify these reallocations and will appear below the total revenues and expenses for Statement of Op’s reports & Hyperion reports. FHS departments should contact FHS Finance by Fri May 9^th (WD7), if they wish to transfer appropriations.

The primary reporting tool for your operating statements is the BI Statement of Operations Dashboard. You can access the Dashboard via the Financial Reporting Hub in Mosaic or directly via bi.mcmaster.ca. Please remember to sign in to VPN before trying to access the reports. Additional information about the Dashboard including training documentation and videos can be found here. There are also weekly drop-in support sessions available as follows:

• Wednesdays from 2pm to 3pm, options to join: Teams Meeting Link
• Fridays from 11am to 12pm, options to join: Teams Meeting Link

Most commonly used reports and queries can be found all in one place within the Financial Reporting Hub tile within the Administrative Home Page.

Mosaic Finance Module Training Hub

A consolidation of all Mosaic Finance module training documentation and self-paced video tutorials can be found in the Finance Training Hub accessible via the Finance Training tile within the Administrative Home page in Mosaic.

There are also weekly drop-in support sessions available as follows:

• MacBill: Tuesdays from 10am to 11am, options to join: Teams Meeting Link
• GL and Journal Entry: Thursdays from 9:30am to 10:30am, options to join: Teams Meeting Link
• AP: Wednesdays 10am to 11am, options to join: Teams Meeting Link

MacBuy: Available on request, contact: macbuyhelp@mcmaster.ca

Actual updated results will be available daily in Hyperion for funds 20, 30 and 45 beginning Mon April 7th. Hyperion will be refreshed by approximately 9 am each day once the upload is completed.

In 2024/25, the final full pay period ends on April 26.  Since most employees will work on April 28, 29 and 30 of the next pay period, these additional three days will need to be recorded in 2024/25.

Prior to 2020/21, the final payroll entry was split between the old and new fiscal years.  The entry was posted early in May allowing time for departments to see their final balances and make adjustments.  If the final payroll entry were to be split in 2025, it would not be posted until May 15, past the cut-off for journal entries.  Extending the journal entry cut-off would delay the year-end close and risk timely completion of the audit.

To ensure that the full amount of expense is included in the consolidated 2025 financial statements and maintain the year-end schedule, the extra days will be estimated based on 30% of the April 26 pay period and accrued centrally.  The extra days will not be included in departmental results and there is no requirement to accrue them.  The 2024/25 projection was calculated in Hyperion using the April 26 pay period as the cut-off so no variance will result due to timing.  If managers want to accrue an estimate in their departments, a reversing journal entry may be done crediting the central accrual in the appropriate fund using the chartfields below.  To simplify the entry, a limited number of account codes will be used for the central accrual.

As we move forward, there are three main goals:

1. Timely year-end close
2. Accuracy of consolidated statements
3. Accurate departmental results

Given the timing of year-end pay periods, it is most appropriate to use this process through 2027/28 as one additional day is added to the accrual each year.  Beginning in 2028/29, the timing of the year-end pay period may better align to the split pay process. This will be assessed as we approach that fiscal year.