In partnership with VCH Finance and UBC Financial Services, we provide advice and guidance to our researchers in managing their research funds.
The Finance Team at VCH Research Institute assists in ensuring funds managed by VCH researchers are administered in compliance with VCH and UBC Finance Policies and Procedures and adhere to funding agency and accounting policies. Effective April 1, 2012, VCH and UBC have adopted Public Sector Accounting Board (PSAB) accounting guidelines.
- Visit VCH Finance Policies and Procedures for more information about VCH Finance*.
- Visit UBC Finance Policies and Procedures for more information about UBC Finance.
VCH Research Institute uses VCH and UBC Financial Administrative forms which can be found at the following links:
VCH’s Fiscal Year runs from April 1st to March 31st and consists of 13 accounting periods as per the VCH accounting schedule*.
UBC’s Fiscal Year also runs from April 1st to March 31st; however, it follows the month-end cycle and has 12 accounting periods. Please see UBC accounting schedule.
|Organization||# Periods||Period Range||Start||End|
|VCH||13||28 Days||April 1st||March 31st|
|UBC||12||Calendar Month||April 1st||March 31st|
Financial Administrative Responsibilities of the Principal Investigator
Principal Investigators at the VCH Research Institute are responsible for the management of their individual Research Accounts. The account holder must ensure their research account is administered in compliance with VCH and UBC Finance Policies and Procedures in addition to the policies of the individual funding agency. VCH and UBC provide ledgers after each accounting period which must be reviewed by the account holder to ensure all account activity is in adherence to the aforementioned policies and procedures.
UBC clearly outlines the responsibilities in the following financial training guide.
Please refer to VCH & UBC Travel policies and procedures for information on travel expenses and per diem rates:
- VCH Expense Reimbursement Policy for Travel and Business*
- UBC Travel Expenses (Some UBC faculties may have specific requirements in addition to overall UBC finance policies. Please consult your Faculty for further guidance.)
*The link is on the VCH intranet and is only available to those with a VCH login and using a computer on the VCH network. To request network access please complete the appropriate Technology Services Request Form via Health Shared Services BC.
Frequently Asked Questions:
- Q: How do I purchase equipment through VCH or UBC?
VCH and UBC have different policies and procedures for equipment purchases. Please refer to the information below for their individual policies and procedures:
VCH: Capital equipment with a unit cost over $5,000 is purchased through the Capital and Minor Equipment Acquisitions Group (CMEAG). Visit this page for additional information.
Please note, items under $5,000 per unit cost do not require approval from Capital Asset Management but must abide by the rules of the applicable HSDA (Health Services Delivery Area – Vancouver Acute, Vancouver Community, Richmond, North Shore Coast Garibaldi) and be duly authorized in accordance with VCH Signing Authority. Completed requisitions should be sent directly to Capital Acquisitions; however, if the funding is from an Auxillary cost centre (i.e. Research), the Purchase Requisition needs to be sent to the appropriate personnel in Finance for signoff (they will send it on to Capital Asset Management and Capital Acquisitions ). For Research this is Joyce Wong, Manager, VCHRI Finance (604-875-4111 ext.21699 or firstname.lastname@example.org).
Visit this page* for additional information.
UBC: For purchases up to $3,500.00 in value, UBC advises Principal Investigators to use their UBC Supply Management's Purchase Card (VISA). If a PI does not have a Purchase Card (PCard) or the vendor does not accept Visa, payment can be made by completing a UBC Requisition for Payment (Qreq).
UBC equipment purchases over $3,500 should be processed through UBC Supply Management. Specific instructions can be found directly on the UBC Supply Management website.