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Harmonized Sales Tax (HST)

…GST/HST charged or that the amount paid or payable for each taxable supply (other than zero-rated supplies) includes the GST/HST at the applicable rate. An indication of which items are…

External Revenues and External Expense Recoveries

…recovery should be credited to a separate benefit recovery account, using standard benefit rates, and should not be combined with the related salary recovery. Refer to the reference Guide for…

Long-Term Capital Appreciation Pool (LTCAP)

…the endowment payout rate is normally announced during February and it’s subsequently published on the home page of our website, together with historical payout rates. To obtain current and historical…

Expendable Funds Investment Pool (EFIP)

…earn distribution income at this rate. Projects and operations with negative cash balances incur distribution expense at this rate plus 0.25%. The distribution income (or expense) is calculated and recorded…

Indirect Costs (Overhead) Recoveries: Accounting, Distribution, and Reporting

…standard Indirect Research Cost rate of no less than 40% of total Direct Costs, or the maximum allowable rate as published by the sponsor. The Principal Investigator is responsible for…

Investment of Funds

…completed form to the address indicated on the form. EFIP Distribution Rate The Chief Financial Officer determines the EFIP rate to be paid on committed funds. Effective from November 1,…

Direct Deposits

…dollars. The bank will enter the exchange amount on the deposit slip on the line plus/minus exchange. Bank Report – Direct Bank Deposits The Bank Report – Direct Bank Deposit…

FAST Monthly Lunch and Learn Sessions

…Draft or Electronic Funds Transfer Article – Outgoing Wire Transfer Article – How to locate the exchange rates within a Purchase Order, Goods Receipt and Invoice Receipt Session 16 (September…

Benefits Accounting

Standard Benefit Rate In 1998, the University established a standard benefit rate mechanism whereby the employer benefit costs are accumulated centrally and charged back to divisions, research grants and ancillary…

Reimbursement Rates

Note that the reimbursement rates of the granting agency guidelines (or a specific research award) will apply if they are lower than the University rates. Use of Personally Owned Vehicle…