Accounting responsibilities are the charge of the university's Accounting Services. The accounting office is under the stewardship of the university's accounting officer (controller).
Responsibilities include:
- Providing financial advice and assistance to the Chancellor, the Vice Chancellor- Business and Finance/Administration, and other campus administrators.
- Monitoring all financial and budgetary transactions to ensure compliance with University and campus policies and procedures, with provisions of governing laws and related statutory regulations, with the terms and conditions prescibed by external funding sources, and with genrally accepted accounting principles.
- Preparing and distributing most campus financial reports and statements, including those for Federal, State, and gift funds and for auxiliary and service enterprises.
- Maintaining the campus sections of the General Ledger, the official book of accounts, and other required campus accounting records.
- Operating the payroll system, including issuing paychecks, accounting for staff benefits and payroll deductions, maintaining budgetary control over salary appropriations, auditing departmental timekeeping, and maintaining sound internal control.
- Disbursing funds in payment of all non-payroll obligations, including purchases of goods and services, travel, and student aid, reconciling the related bank accounts, and maintaining good internal controls.
- Recording the settlement of all interdepartmental sales (recharges) by such units as storehouses, garages, bookstores, and other campus activities with authorized recharging operations.
Other Campus Units
- Major Campus Units
Although major campus (income producing) units receive accounting services from Accounting Services they often must conduct additional accounting operations in order to record income and expense by cost center, to allocate overhead costs, to prepare specialized reports, to maintain detailed records of accounts receivable, and to accomplish other necessary financial functions unique to their operations. - Campus Departments
Accounting support for all campus departments is provided by the Accounting Services office. However, because most academic and administrative officers desire to verify the charges against their appropriations and to provide themselves with day-to-day information on balances available, it is customary for campus departments to maintain internal records of any transactions initiated by them.
