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Ontario Tech acknowledges the lands and people of the Mississaugas of Scugog Island First Nation.

We are thankful to be welcome on these lands in friendship. The lands we are situated on are covered by the Williams Treaties and are the traditional territory of the Mississaugas, a branch of the greater Anishinaabeg Nation, including Algonquin, Ojibway, Odawa and Pottawatomi. These lands remain home to many Indigenous nations and peoples.

We acknowledge this land out of respect for the Indigenous nations who have cared for Turtle Island, also called North America, from before the arrival of settler peoples until this day. Most importantly, we acknowledge that the history of these lands has been tainted by poor treatment and a lack of friendship with the First Nations who call them home.

This history is something we are all affected by because we are all treaty people in Canada. We all have a shared history to reflect on, and each of us is affected by this history in different ways. Our past defines our present, but if we move forward as friends and allies, then it does not have to define our future.

Learn more about Indigenous Education and Cultural Services

What we do

As part of Ontario Tech's Finance and Strategy division, Research and Trust Accounting (RTA) is responsible for managing the post-award functions of financial monitoring, compliance and reporting for all research grants and contracts at the university

New accounts and closing accounts:

  • Review account opening.
  • Set up new account and budget in Banner/FAST.
  • Notify the PI and ORS, PBO.
  • Signing authority.
  • Review account closing.

Revenue cycle:

  • Deposit cheques and record revenue in fund.
  • Identify wire transfers and record revenue in the appropriate field.
  • Collect overhead and record the revenue.
  • Invoice sponsors and set up invoice tracking for followup.

Expense cycle:

  • Reimbursements, BMO and personal credit card (travel expenses and direct purchases).
  • Non-PO invoices (direct purchases).
  • Cheque requisitions/expense reports (advances, fund transfers).
  • Purchase requisitions and Web-Req.
  • Review for accuracy, proper authorization, compliance with UOIT and sponsor policies, and sufficiency of funding to facilitate processing of payments and purchase orders by UOIT departments.
  • Help satisfy accounts payable (A/P) requirements.
  • Review travel advances for approval and administer settlement.

Transfers between accounts:

  • Record requested transfers—revenue and expenses—between research fund and other fund.

Monthly financial statements:

  • Ensure revenue and expense information in Banner/FAST is complete, accurate and understandable to PIs.
  • Extract reports in Banner and FAST relating to research funds.

Fielding routine queries:

  • Provide information relating to routine fund activity and address issues related to invoicing, reimbursements, payroll and other fund transactions.

Deficit and surplus management:

  • review misallocation, missing revenue and options for deficit resolution wih PIs.
  • Provide notification or large surplus balances when grand end date is imminent.
  • Conduct weekly analysis to proactively identify red flags (underspending, overspending, misallocation).

Reporting to sponsors and stakeholders:

  • Prepare and, upon PI approval, submit annual financial reports to sponsor.
  • Address sponsor and stakeholder financial queries.
  • Co-ordinate financial audits: sponsors (e.g.: Tri-Agency, CFI, MEDI); external (KPMG).
  • Maintain complete, sufficient, appropriate permanent files (audit purposes and PI reference).
  • Understand the A/P policies and frequently used forms.
  • Understand how to interpret and use the monthly statements in FAST; communicate financial policies to PIs.