UCD Finance Office/Accounting Services

HOME PAGE: http://www.ucdhsc.edu/admin/finance/THIS PRESENTATION:http://ucdhsc.edu/admin/finance/documents/NEO.ppt

Accounting Services Agenda

The Big Picture Stewardship Obligation Fiscal Culture AVC Finance/Admin Sponsored Project

Funds Gift Funds

Internal Controls Reports Personal Liability Training Resources Compliance Resources Contacts

The Big Picture

Stewardship Obligation

The responsibility for sound financial management resides with every employee or affiliate who spends or manages university funds.

In general, the public nature of University funds and State requirements impose a more restrictive standard than that used in the private sector

Fiscal Culture

CU's organizational units obtain and utilize resources to carry out the university’s missions, the financial impact of which is accumulated and summarized in the University's financial records.

CU is obligated to comply with numerous laws, policies, rules, regulations, and sponsor / donor requirements. External entities trust that the university's financial statements are complete and accurate, which cannot happen without the help of all employees and affiliates who have financial management duties.

It is important for all employees / affiliates to understand: the hierarchy of policies, procedural statements, and guidelines the driving forces behind our current fiscal culture, and the main

tenets of the related policies

Fiscal Culture

Policy Hierarchy:

Fiscal Culture

Driving Forces - CU Regents and External Forces The Regents of the University of Colorado sit atop our policy hierarchy, and create laws and policies that lower level policies, like APS, PPS, and campus-specific policies strive to support: Laws of the Regents https://www.cu.edu/regents/Laws/laws.html Policies of the Regents https://www.cu.edu/regents/Policies/index.html

The Sarbanes-Oxley Act of 2002, which influences best-practices in fiscal management, is the driving force behind many of CU's new and revised Administrative Policy Statements: Fiscal Roles and Responsibilities https://www.cu.edu/policies/Fiscal/Fiscal-

RolesResponsibilities.pdf Fiscal Code of Ethics https://www.cu.edu/policies/Fiscal/Fiscal-Code-of-Ethics.pdf Fiscal Certification https://www.cu.edu/policies/Fiscal/Fiscal-Certification.pdf Officer Disclosure of Interests https://www.cu.edu/policies/Fiscal/Officer-

Disclosure.pdf

Fiscal Culture

Driving Forces – Transparency and Accountability Other factors, like the need for transparency and accountability have impacted APS/PPS: Propriety of Expenses https://www.cu.edu/policies/Fiscal/Propriety-of-

Expenses.pdf Sensitive Expenses

https://www.cusys.edu/psc/policies/downloads/PPS_Sensitive_Expenses.pdf Alcohol Purchase and Provision

https://www.cu.edu/policies/Fiscal/Alcohol-Purchase-APS.pdf Alcohol https://www.cusys.edu/psc/policies/downloads/PPS-Alcohol.pdf

CU Foundation Transfers https://www.cu.edu/policies/Fiscal/CU-Foundation-Transfers.pdf

Recognition and Training https://www.cusys.edu/psc/policies/downloads/PPS_Recognition_and_Training.pdf

Personal Technology and Telecommunications https://www.cu.edu/psc/policies/downloads/PPS_Personal_Technology.pdf

AVC Finance and Administration

Finance Office Responsibilities Accounting Services Financial Compliance and Training Sponsored Programs Accounting (Downtown

Campus) Resource Management Student Financial Services

Sponsored Project Funds (Anschutz Medical Campus)

Office of Grants and Contracts (OGC) Pre-Award Contracting Accounting Post-Award Policy and Education

Sponsored Project Funds (Downtown Campus)

Division of Sponsored Programs Administration (DSPA) Pre-Award Contracting

Sponsored Programs Accounting (SPA) Accounting Post-Award Policy and Education

Gift Funds

Gift funds are financial awards received from external donors

Expenditures must be made in accordance with donor wishes, and must be in compliance with all applicable rules, regulations, policies, and procedures.

Online training is available at: https://www.cusys.edu/controller/documents/Gift_Training.ppt and is required for those with gift fiscal responsibilities

Internal Controls

Promote the use of sound business and financial management practices. One major control is achieved through proper

segregation of duties so that no single individual controls all (e.g. "create" and "approve") aspects of a financial transaction.

Another control is the review of monthly financial statements, whether burst or ad-hoc

Reports

Reports can be viewed in the my.CU portal:

Reports

Click on the my.Reports tab:

Reports

Depending on your roles and Finance System access, you’ll view reports via one or more of the channels:

Personal Liability

Colorado Governmental Immunity Act Three main areas in which an employee can be

held liable for actions at work:• Criminally• Civilly• Employment discipline

Personal financial liability if:• After-the-fact purchases• Signing contracts on behalf of University (see signature

matrix): http://www.ucdhsc.edu/admin/finance/documents/Contract_Matrix.pdf

Training Resources

Blackboard Online training (https://blackboard.cudenver.edu/: Use 6-digit Employee ID# to login) Research Administration Start to Finish Direct Charging to Sponsored Projects Electronic Personnel Effort Reporting (ePER) Finance / Procurement System Training – multiple courses

Financial Inquiry Online training http://www.kathyillian.com/finance/training/inquiry/index.html

Instructor-led Finance / Procurement Training (http://www.ucdhsc.edu/admin/finance/courses.htm)

Procurement Card Training https://www.cu.edu/psc/purchasing/procurementcard/pc-training.html

Compliance Resources

UCD Financial Compliance http://www.ucdhsc.edu/admin/finance/compliance.htm Effectiveness of administrative training programs Adequacy of fiscal policies and procedures Propriety of financial transactions

Internal Audit Fraud Hotline https://www.cusys.edu/audit/fraud.html

Contacts

UCD Finance Office website: http://www.ucdhsc.edu/admin/finance/.htm

UCD Finance Office main phone #: 303.315.2250 DSPA (Downtown Campus) website:

http://thunder1.cudenver.edu/osp/index.htm SPA (Downtown Campus) website:

http://www.ucdhsc.edu/admin/finance/sponsored.htm

Grants and Contracts (AMC) website: http://www.uchsc.edu/ogc/