UNIVERSITY OF VIRGINIA
           FINANCIAL AND ADMINISTRATIVE POLICIES MANUAL



TITLE:  UNIVERSITY SYSTEM:  RECONCILATIONS           POLICY: II.B.2x

                                                                   
                                                                  
Reconciliation of University Accounting Records

The University Comptroller has primary responsibility for all
reconciliations required to assure the integrity of the University
Financial Accounting System.  Specific responsibilities have been
delegated as follows:

                  Area                       Responsible Office     
 

     Reconciliation to State
     accounting records                Accounting Operations

     Reconciliation to bank
     statements for University
     accounts                          Accounting Operations

     Reconciliation to bank
     statements for departmental       Responsible department or
     accounts                          activity head

     Reconciliation to external
     grant and contract sponsor
     records                           Office ofSponsored Programs

     Reconciliations to assure the
     internal consistency of the
     University Financial Accounting
     System                            Accounting Operations

     Reconciliations to assure the
     consistency of control accounts
     in the University Financial
     Accounting System to supporting
     subsidiary records                Accounting Operations

     Reconciliation of investment      
     accounts to the University        Financial Analysis
     Financial Accounting System       


Reconciliation of Departmental Accounting Records to the Central
University Financial Accounting System

Departments and activities must maintain files of financial
transaction documents that are sufficient to monitor the accuracy
and completeness of data entered into the University Financial
Accounting System.

                                                                  
Monthly statements for each account (AMO90s and AMO91s) are
forwarded through the appropriate fiscal administrator to the
responsible person named for each established account.  Each such
responsible person should assure that the content of these
statements is promptly reconciled to the department's transaction
files.

See also Procedure 1-4, "Reconciliation of Monthly Departmental
Accounting Records to AM090/91."

Wherever possible, requirements for departmental accounting
information should be met by reference to data contained in the
University Financial Accounting System and not by the maintenance
of independent departmental accounting systems.

                                                                 
ISSUED BY:                                                 07/17/89

University Comptroller         2.2.2.1