This procedure covers reviewing and certifying transactions processed
against projects administered through Oracle General Ledger (GL). The
purpose of the Monthly Review is to identify and correct mistakes
in a timely manner. Any unusual transactions should be reported promptly
to the appropriate dean, department head, principal investigator, or
central financial office.
This procedure does not cover reconciling projects and awards administered
through Oracle Funds Management (GM). (See Financial Procedure 1-4,
"Monthly Review of GM Project or Award Activity")
The Project Reviewer is responsible for
reviewing each transaction (deposit or transfer journal entry) posted
to an Oracle GL account string in the University's Integrated System
to ensure its accuracy, and to ensure that sufficient source
documentation, in the form of paper, or data residing in Oracle or supporting
systems, is available.
The Project Manager acts as an approver and is responsible for verifying
the legitimacy,
appropriateness and necessity of transactions recorded
in the Oracle GL module in the University's Integrated System.
These reviews should be performed at least once a month (by
the 10th day of each month) for the previous month's
activity. The review should be conducted for each GL project for which
you are responsible.
Project Reviewer
1. Gather and review the following information:
- prior month activity reports with any notations for corrections,
etc.
- department records related to deposits or transfers for this GL
project
2. Log on to Oracle Discoverer and run the following reports:
IS.GL Project Activity Summary
Purpose: This report shows a summary of all project activity
at the GL Chart of Accounts level. Tabs at the bottom of the report
allow you to run the report either for a single project or all projects
for a specified Organization. The summary shows total project activity
regardless of whether the transactions originated in GL or in GM.
For Projects that aren't associated with an award (such as 999xxx
projects), this report will be the equivalent to the Oracle standard
report "UVA Cash Balance by Project".
IS.GL_Only Project Activity Detail
Purpose: This report shows only transactions that either originated
in GL or are non-PTAEO type transactions for a specified date range.
The report can be used to review GL transactions such as Cash Deposits,
etc. Tabs at the bottom of the report allow you to run the report
either for a single project or all projects for a specified Organization.
For a given accounting period, this detail plus the detail from any
of the FM_Expenditure Detail by Project reports represent the total
detail activity for a project.
There is one exception, neither detail report will include AP transactions
that should have been entered with a PTAEO, but instead were directly
coded with a GL Account Code Combination. The left-most tab at the
bottom of the IS.GL_Only Project Activity Detail workbook entitled
'AP Transactions without PTAEO' for a specified project will show
all transactions that fall into this category. These transactions
need to be reversed in GL and entered correctly with a PTAEO so the
expense is correctly reflected in the project budget balance available
calculations.
Also as an aid to the end-user, there is a page item on this report
entitled "Funds an Award?". If the answer is "N", the associated project
is not a revenue project that either directly or indirectly funds
and award. Any deposits to that project need to be reversed and re-entered
to an appropriate revenue project. Cash deposited to projects that
do not fund an award, will not show on the UVA Cash Balance by Project
Report.
Note: This is the minimum number of reports needed to conduct
the review activity. Many additional Predefined Reports are available
in Discoverer to assist in conducting further activity analysis. The
Oracle Standard Report "UVA Cash Balance by Project"
may also be run to obtain a true cash balance for a project.
3. Use the checklist provided below to organize your review. Links
connect to policies and more detailed information, and will open in
a separate browser window. This checklist is provided as a resource.
It does not need to be completed for each GL Project, nor does it need
to be signed. It is recommended that one printed copy be kept each month
for all projects in an area, but this is not required. (If some checklist
questions do not apply, simply mark them as n/a.) A
printer friendly version of this checklist is also available.
4. When conducting a review, the Oracle Discoverer reports should be
printed, and all detail transactions should be checked for appropriateness,
accuracy, and the existence of supporting documentation. The Reviewer
should verify that all transactions are correct and sign and date the
report(s). The Reviewer is also responsible for following up on any
transactions that remain outstanding for more than one accunting period.
Note: In some departments, different people may be responsible
for different aspects of this review. Where appropriate, more than
one person may sign off on the detail transactions by initialing the
report next to the line item(s) they reviewed.
Project Manager
1. University policy requires that a separate individual (the Approver),
who has authority and responsibility for the funds, also sign and date
the report(s) to certify that the reports are accurate, and that the
transactions are reasonable and necessary..
Note: For Sponsored Program projects, the Principal Investigator
must sign the report as the responsible person. However, in the absence
of the Principal Investigator, the Department Chair may sign on their
behalf.
2. Once the review is completed, the report(s) and supporting documentation
should be assembled and filed by project, or in such a manner that all
material relating to a particular transaction, or accounting period,
can be readily retrieved and presented when requested for audit review.
These records should be maintained in accordance with the University's
record retention policy.
