Finance

The Providence Research Finance team provides financial accountability of research funds held in trust accounts at Providence Research. Research Trust Accounts are maintained by Providence Research for designated activities that further the mission of the organization.

New Accounts

A new trust account is required for each new contract, agreement or grant and for different funding sources.

To open a new trust account, please forward the following documents to Rita Yao, Finance Coordinator:

1. A completed and signed "Research Trust Account Application and Signing Authority Form”
2. The budget for the project and a copy of the contractual agreement with the sponsor outlining their financial commitment
3. A copy of the award notice (for grants only)
4. A copy of the terms & conditions governing the use of the funds (for grants only)

Signing Authority

It is important to ensure the signing authority for each trust account is up to date. For any signing authority changes, please forward a completed and signed "Research Trust Account Application and Signing Authority Form" to the Providence Research Accountant.

Closing of Accounts

Upon the completion of a project it is important that the Providence Research Finance Team be informed for the account to be closed. Any remaining balance must be expensed or transferred within the terms of reference of the account. In order to close a trust account, please forward the following document to the Providence Research Accountant:

• A completed and signed "Research Trust Account Closure Form”

Accounts Receivable

All cheques for research trust accounts must be made payable to “Providence Health Care Research Institute Trust” and identified with the trust account number or principle investigator name. Funds received by the grantees or departments should then be forwarded with the following documents to the Providence Research Bookkeeper:

• A completed "Cheque Deposit Form"
• Cheque with cheque stub attached
• Supporting documents for the received payment

Accounts Payable

For payment requests from a trust account, please forward the following documents to the Providence Research Accountant on or before the Cheque Request Submission Deadline (for deadlines see the 2023-2024 schedule or the 2024-2025 schedule)

• A completed and signed "Cheque Request Form"
• Original receipts, invoices or other supporting documentation

Please note incomplete requests will be returned to the individual preparing the form which could cause a delay in payment.

Research Indirect Costs

For payment requests from the Research Indirect Costs account (previously referred to as Overhead), please forward the following documents to the Providence Research Bookkeeper:

• A completed and signed "Indirect Cost Cheque Request Form"
• Original receipts, invoices or other supporting documentation

Accruals

For accounting purposes it is important to capture all revenue and expenses in the correct accounting period. In cases where an invoice or cheque has not been received but is expected, we are required to accrue these to the trust account.

On a monthly basis the Providence Research Accountant will request a list of outstanding invoices or payments to be accrued to the trust accounts. Please ensure these e-mails are responded to, to comply with our auditing requirements.

View our Finance Policies below.

Providence Research Finance Team

Tracy Yang
Manager, Finance
tracy.yang@hli.ubc.ca or 604-682-2344 ext. 66053
Queries related to Policies and Procedures, Indirect Costs of Research, General Finance comments, questions or concerns.

Freda Liang
Accountant
fliang@providencehealth.bc.ca or 604-682-2344 ext. 63438
Queries related to Accounts Payable, Inter-unit Transfer, Monthly Statements or Finance Generated Journal entries.

Molana Laluna
HLI Finance Administrator
molana.laluna@hli.ubc.ca

Diana Doan
Finance Administrator
diana.doan@hli.ubc.ca or 604-806-8041

Carrie Yuan
Finance Administrator, Clinical Academic Research Groups
cyuan3@providencehealth.bc.ca

Rita Yao
Finance Coordinator
ryao@providencehealth.bc.ca