Upcoming change to fiscal year

Beginning in 2022, the fiscal year will be April 1 to March 31 as opposed to the previous time frame of July 1 to June 30. This also means that the 2021/22 fiscal year will be a truncated one, running July 1, 2021 to March 31, 2022.

This will put MacEwan’s fiscal year in line with other post-secondaries and the province. Having the fiscal year as April 1 to March 31 will allow the university to plan financial processes in a more predictable way.

What has been done to date

A project led by Finance, under Kenway Yan’s direction as project manager, is well underway with representation from IT, Academic Affairs, and other business areas.

We have completed an impact analysis of PeopleSoft and third-party integrations to identify changes required to enable the year-end change. We have also identified third-party systems that are not integrated with PeopleSoft and will work with the business areas to contact the vendors to support the change.

To further elevate our quality assurance, we have scheduled a mock year-end initiative within the month of December to resolve any potential issues prior to go-live. This work will be completed internally by Finance staff and is not expected to require any resources outside of Finance.

What to expect

We are finalizing a revised year-end schedule that aligns with the date change and with tighter deadlines to streamline the current business processes. The revised year-end schedule will be released on the myMacEwan portal in December 2021.

More detailed information will be provided to those with financial reporting responsibilities in the upcoming weeks and ongoing throughout the remainder of the project.

If you have any questions or concerns, please contact Kenway Yan via email at yank4@macewan.ca.

From Finance