All Funds

 

1. Deposit to Revenue Project (GL)

What 

Who

When

Receive cash & initiate deposit to appropriate revenue project

Varies by type of funds, see individual award prefix links.

All cash items received should generally be deposited within 24 hours. †

For specific details see Controlling Cash Items Policy

Create manual journal entries

Varies by type of funds, see individual award prefix links.

Day of bank deposit

2. Install (allocate funds) Awards (GA)

What 

Who

When

Create an award installment that represents the portion of the funds owned by the revenue project that an award has been given authority to spend.

Varies by type of funds, see individual award prefix links.

Varies by type of funds, see individual award prefix links.

3. Fund Projects (GA)

What 

Who

When

Fund projects with the portion of an award installment that represents the projectís authority to spend.

Note: Total project funding cannot exceed the total award installments/authority to spend.

Varies by type of funds, see individual award prefix links.

After award installments have been made.

4. Create Budgets (GA)

What 

Who

When

Create budgets to represent a detailed spending plan for the funds allocated to a project.

Note: The total budget can not exceed total project funding/authority to spend.

Varies by type of funds, see individual award prefix links.

After funding is completed.

5. Manage Accounts (GL & GA)

What 

Who

When

Review project and award accounting records monthly to safeguard assets and prevent, detect, and correct irregularities to ensure that the University properly manages its resources.

Resolve errors on a monthly basis to ensure reliability of financial statements and compliance with various state and University regulations.

Project and Award Managers

All projects should be reviewed by the tenth (10) working day of each month for the previous monthís activity.

See Review Policy.

See GA Review Procedure.

See GL Review Procedure.

For more information see Reconciliation Class.

Verify and Troubleshoot as Needed (GL & GA)

What 

Who

When

Verify information and troubleshoot as needed.

Varies by type of funds, see individual award prefix links.

Project and Award Managers

As needed