Issued: June 15, 1987
Owner: University Comptroller
Latest Revision: June 21, 2002
UNIVERSITY ACCOUNTING SYSTEM
**ACTIVE BUT UNDER REVISION**
This policy is currently under revision at the University. Although the statements herein reflect enforced policy guidance, please contact the "Owner" listed above if you have questions about how this policy applies to your office. The statements herein are to be used as general guidance until the policy has been revised and added to the University Policy Directory. Thank you.
The University Accounting System is designed to record, classify, summarize, and report financial data in conformity with established accounting policies.
2.0 Policy [Top]
2.1 Establishment and Maintenance of the Accounting System
The University Comptroller has primary responsibility for the establishment and maintenance of the University's accounting system.
In establishing and maintaining the University's accounting system, consideration will be given to the special needs of divisions, departments, and activities.
2.2 Establishment and Maintenance of University Accounts
The Department of Accounting Services has primary oversight responsibility for all University accounts(1). Oversight responsibility has been delegated to the Office of Sponsored Programs for all grant and contract awards; to the department of Investment and Tax Services for gift, endowment and plant awards; and to the Medical Center for all Medical Center awards.
Any department or activity may initiate the creation of a non-sponsored program project. Such requests should be made by following the appropriate procedure as follows:
Financial Procedure 9-42 "Creating New Gift Projects"
Financial Procedure 9-43 "Creating New True Endowment Projects"
Financial Procedure 9-41 "Creating New or Withdrawing Funds from Quasi Endowment Projects"
Financial Procedure 2-1 "Creating Expenditure and Revenue Projects"
Preliminary sponsored program projects and awards may be established when a sponsor has assured funding but official award documents have not yet been received for processing. These projects must be guaranteed by the requesting department (and the Medical Center Controller's Office for all Medical Center projects). Requests for the establishment of preliminary sponsored program project should be directed to the Office of Sponsored Programs. Sponsored program projects and awards for officially received sponsor awards are automatically established by the Office of Sponsored Programs as part of the Notice of Award procedure.
2.3 Availability of Financial Accounting Information
The University Comptroller has primary responsibility for the dissemination of all financial accounting information for both external-reporting requirements and internal management needs.
The availability of financial accounting information will be governed by relevant Federal and State statutes and University policy pertaining thereto.
The following categories of accounting information are available to the University community:
The University's Information Warehouse houses summary and detail financial information for all accounts from fiscal year 1994 through fiscal year 2001. It can be used to produce predefined reports or customized reports designed by the end user.
Monthly statements showing budget status and transaction details from July 1, 2001 are available from the Integrated System Operational Data Store, and are run by the end user award and project managers.
Reports showing information related to transactions in any of the Integrated System modules are available from the Standard Reports section of the Integrated System menus, and are run by the end user award and project managers. Detailed transaction data are also available by querying the individual IS modules.
Special purpose statements may be prepared on either a routine or special requirement basis if required data, facilities, and resources are available.
2.4 Responsibility for Approving Key Financial Values
The following University officials are authorized to approve changes, additions, and deletions to key financial values in the Integrated System tables.
Object Codes in GL - University Comptroller
Expenditure Types in OGA - University Comptroller
Mapping of Expenditure Types in OGA to Object Codes in GL - University Comptroller
Alterations of any type to the mapping of Oracle values to CARS values - University Comptroller
Fringe Benefit Rates and their application to Expenditure Types in OGA - Chief Human Resources Officer
Service Rates in OGA (examples = Chemstores and Temp Services service rates) - University Comptroller
F & A Burden Rates and their application to burden schedules and burden structures in OGA - Assistant VP for Research Administration
These officials will use templates provided by the Integrated System Applications Support Center to document and convey their decisions to the ASC for updating the Oracle GL and OGA applications.
3.0 Definitions [Top]
(1) Account: An activity for which separate financial records are maintained. Also, defined as a Project/Award combination under the University's 'project centric' implementation of the Oracle Financial Applications.
4.0 References [Top]
Oracle Procedure "Creating and Revising a Project"
5.0 Approvals and Revisions [Top]
Previous version in effect from 7/15/87 to 1/25/00 available in policy archive.
Previous version in effect from 1/25/00 to 6/20/02 available in policy archive.