Monthly Fund Reviews
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Monthly Fund Reviews • One of the duties of an accountable officer is to review his or her funds on a monthly basis. The process has been required as a condition of setting up a fund and accountable officers should be performing these reviews. • UNC General Administration has developed certain financial control standards and processes known as UNC FIT standards which require certain procedures be in place to strengthen the University’s internal control. • A requirement of UNC FIT is that the monthly fund reviews be documented. • In order to provide documentation, the Controller’s Office has developed a form in a checklist format to assist accountable officers. • The form should be completed monthly by each fund’s accountable officer. • The completed review forms should be kept on file at the department level for a period of five years. The forms may be requested for review by external auditors, internal auditors or by UNC GA representatives on a monitoring visit. • The Controller’s Office is asking for the following activities to be documented as reviewed each month: Non-Salary Expenditures, Revenues, Payroll Activity, Journal Entries, Inter-departmentals, Encumbrances (purchase orders) and P-Card Activity. • The slides below are designed to give the accountable officers a means to access the information needed to review.
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Monthly Fund Reviews. One of the duties of an accountable officer is to review his or her funds on a monthly basis. The process has been required as a condition of setting up a fund and accountable officers should be performing these reviews. - PowerPoint PPT Presentation
Transcript of Monthly Fund Reviews
Monthly Fund Reviews
• One of the duties of an accountable officer is to review his or her funds on a monthly basis. The process has been required as a condition of setting up a fund and accountable officers should be performing these reviews.
• UNC General Administration has developed certain financial control standards and processes known as UNC FIT standards which require certain procedures be in place to strengthen the University’s internal control.
• A requirement of UNC FIT is that the monthly fund reviews be documented. • In order to provide documentation, the Controller’s Office has developed a form in a checklist
format to assist accountable officers. • The form should be completed monthly by each fund’s accountable officer.• The completed review forms should be kept on file at the department level for a period of five
years. The forms may be requested for review by external auditors, internal auditors or by UNC GA representatives on a monitoring visit.
• The Controller’s Office is asking for the following activities to be documented as reviewed each month: Non-Salary Expenditures, Revenues, Payroll Activity, Journal Entries, Inter-departmentals, Encumbrances (purchase orders) and P-Card Activity.
• The slides below are designed to give the accountable officers a means to access the information needed to review.
Access the Banner Portal http://bannerportal/sites/Banner/default.aspx and click “Banner Report Portal to obtain payroll information.
SELECT “DEPARTMENTAL ADMINISTRATIVE INFORMATION”
Select “Banner Finance”
Select “Payroll Reconciliation”
Select “Payroll Activity and Reconciliation Report”
Populate the “Trans Start Date” and “Fund Code” boxes. Click “View Report “. The Payroll Activity header will appear and the report will populate.
Type in “FGITRND” in the go to box in Banner to access “FGITRND”. This process will allow a review of Non-payroll expenditures.
Populate the “Fund” box and the “Period”, then click in the “Account “ box. Period will be fiscal month, July=01, August=02, etc. Hit the “F8” key.
The transactions for the month will populate. Scroll as needed to review the transactions.
To Access P-card Procedures, follow this link
http://www.wcu.edu/11628.asp
To access the review form, go to http://www.wcu.edu/25985.aspThe form is under “Fund Maintenance.”
Questions or inquiries should be directed to:
David SteinbickerUniversity [email protected]
