Policy 3-007: Establishment of Accounts and Receipt of Funds
Purpose
To outline the responsibilities for the establishment of new
activities and projects in the University's accounting system and acceptance
of funds deposited to existing
activities and projects.
Definitions: [reserved]
Policy
Activities (set-up documents are on the WEB) and Projects will be established accompanied
by the following
documents:
A copy of the document requesting the funds (if
applicable).
A copy of the awarding document or covering
letter.
Appropriate deposit documentation.
Instructions or guidelines necessary for the
accounting office to account for the expenditure
of funds.
The above documentation and all deposited funds must be forwarded
to the appropriate offices as listed below.
Development Office - Gifts, gifts in kind, grants,
scholarships and fellowships which do not require
financial or progress reports, or other end items.
Income Accounting and Student Loan Services
Funds received from state appropriations.
Income from athletic events and auxiliary
enterprises.
Tuition and other fees.
Receipt of student loan payments
Routine payments on account.
Revenue from sales of surplus equipment.
School of Medicine Clinics - Monies received for patient services
provided by the clinics.
Hospital Patient Accounting Office - monies received for patient
services provided by the Hospital.
Rules, Procedures, Guidelines, Forms, and other related resources
Acting as the Policy Owner, the Office of the Controller is responsible for answering
questions regarding the application of this policy. Acting as the Policy Officer,
the Office of the Vice President for Administrative Services has the authority to
allow exceptions to this policy.
History
Revision #2; Effective 10/11/2005
Editorially changed to update Procedures, format, owner and officer; August 5, 2009.