Regents' Policy
PART V - Finance and Business Management
CHAPTER II
Accounting and Fiscal Reporting
| Authority of the Vice President for Finance | P05.02.01 |
The vice president for finance shall cause to be maintained a system of accounting and management controls necessary to assure that University resources are properly utilized, safeguarded and reported in accordance with general accounting and governmental reporting standards.
(09-30-94)
| General Purpose Financial Reporting | P05.02.02 |
The University shall report its financial activity in accordance with applicable generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board (GASB) for general purpose financial reporting, and University regulations. A report shall take the form of a global accounting statement, and shall include a report on income from University lands.
(09-30-94)
| Compliance Reporting | P05.02.03 |
The University shall comply with all state and federal governmental accounting and reporting requirements.
(09-30-94)
| Management/Cash Flow/Fiscal Reporting | P05.02.04 |
The chief financial officers of all administrative units within the University system shall respond promptly to and in strict alignment with reporting requests and directives from the vice president for finance.
(09-30-94)
| Financial Obligations and Commitments | P05.02.05 |
| A. |
All financial commitments shall be reserved or encumbered in accordance with generally accepted accounting principles, and with directives of the vice president for finance. |
| B. |
No personnel shall be employed by any administrative unit that are not authorized by the unit's annual budget. No person shall be placed on the University's payroll without first having been processed through the prescribed personnel employment procedure and the appropriate payroll documentation properly processed. |
| Travel and Relocation | P05.02.06 |
| A. |
The University shall reimburse employees, students and others for travel expenses incurred for authorized travel on behalf of the University in accordance with IRS requirements and University regulations. |
| B. |
The University may provide employees moving or relocation allowances at the time of hire or relocation to another work location. Such payments shall be made and reported in accordance with IRS requirements and University regulations. |
| Representational Expense | P05.02.07 |
The University may incur or reimburse authorized individuals for representational type expenses. The conditions and limitations regarding such expenditures or reimbursements shall be governed by University regulations.
(09-30-94)
| Games of Chance and Skill | P05.02.08 |
The University may conduct games of chance or contests of skill in accordance with state regulations. The conditions and limitations regarding such games of chance and skill shall be governed by University regulations.
(09-30-94)
