This actvity is performed whenever a business unit of the University
believes that their circumstances justify requesting an exemption from
the general rule that all projects and awards must have their monthly
activity reconciled within 10 working days of the succeeding month.
Department Head
1. Prepare a justification based on the criteria below. The request
may propose either a fixed number of days beyond the 10 day limit by
which all projects and awards will be reconciled, or a schedule of staggered
due dates based on the type of project or award.
2. The criteria which may be used are:
- An unusually high volume of activity per month as represented by:
- a large number of transactions per month
- a large number of projects or awards to review per month
- a complex set of project-award combinations and links
- The complex nature of the transactions that must be reviewed as
represented by:
- Non-standard payroll transactions (e.g. on-call, overtime, etc.)
- Multiple outside sources of funding or data (e.g. HSF, etc.)
- A significant volume of recoveries by an Internal Service Provider
- A significant number of non-standard employees (e.g. UVa Temps,
Work Study, etc)
- The unit has a personnel situation where the person responsible
for reconciliations has conflicting deadlines (e.g. payroll, budget,
scholarships, etc.) and needs to schedule work throughout the month.
3. Submit the justification and proposal as an attachment to the Internal
Controls Questionnaire.
University Comptroller
4. Review the request as part of the review of the responses to the
Internal Control Questionnaire and make reconmmendation to the Director
of Audits.
Director of Audits
5. Review the request and notify requestor of approval, disapproval
or suggested changes.
6. File approved schedule with work papers for the requesting department
and use as a guide when conducting subsequent audits of the department.
Department Head
7. Implement approved reconciliation plan.
End of Activity
