Important deadlines for fiscal year-end 2024-2025

To: Financial systems users and senior leaders

To ensure an efficient year-end close for the period May 1, 2024 to April 30, 2025, we are sharing key dates and planning session details to help ensure your transactions are reported accurately in the correct fiscal year.

We encourage you to prepare early so items can be processed and approved prior to the dates noted on the important dates to remember for fiscal year-end 2024-2025 page.

Timely reporting ensures accuracy and completeness of TMU's Financial Statements

Meeting reporting deadlines helps ensure all financial transactions applicable to the current fiscal year are captured in the university’s financial systems. This enables accurate and timely completion of university financial statements, and reporting to various funding agencies.

Additionally, when transactions are submitted on time, they’ll be reflected in the current 2024-2025 fiscal and budgetary period for your school or department. Any transactions submitted after the deadlines may be processed and charged to the 2025-2026 budget year, which may impact your department’s operating budget carry-forward or budget incentive plan.

Register for our fiscal year-end planning session

Join us for a virtual session where Financial Services representatives will answer your questions about year-end processes and highlight cutoff dates.

The session takes place on Thursday, February 27, 2025 from 2 p.m. to 3 p.m. and you can register your attendance via the Learning Events Calendar.

Questions?

If you have any questions, please contact Liana Korpela, associate director, accounting and reporting, at liana.quach@torontomu.ca or 416-979-5000, ext. 554108.