Functional Review of Financial Support Activities – July 2019 Update

McMaster continues to implement recommendations from the Review of Financial Support Activities. A detailed update is available on the Financial Affairs website, outlining the activities in seven key areas.

Researchers and financial staff are encouraged to read the full update, highlights of which are shared below:

  • Travel and expense submission now uses sample-based testing, which will be rolled out into other types of transactions in the future.
  • Research funding dashboard report is in soft launch mode and will be available to all researchers by September 30.
  • Tri-agency financial administration guide has been renewed, reducing the administrative burden and harmonizing requirements across agencies. As a pilot institution, McMaster continues to provide input in regard to this new approach.
  • MacBuy goes live and training continues. Town Hall scheduled August 1.
  • MacBill phase one and two are complete. Faculty of Health Sciences and central research finance office to transition to the system in the coming months.
  • Changes to the research residuals policy have been approved and the revised policy will be posted soon.
  • Faculty of Health Sciences is exploring a new “hub” model to support research and operating finance, particularly expense claims and MacBill transactions.