The Chief Business Officer for each school, college, or administrative unit is responsible to implement a process for review and analysis of budgets and financial transactions.  The process should be conducted to ensure reasonableness and accuracy of financial transactions recorded in the University’s financial systems and be conducted within 30 days of the prior month end.  This review occurs through several mechanisms including:  transaction level review and approval, routine monitoring of financial transactions, and a monthly review of the budget status using generated reports or corresponding data analysis from the financial system of record. 

A minimum standard of review and analysis is outlined below.  Chief Business Officers may determine if additional steps are needed to ensure reasonableness and accuracy of financial transactions recorded in the University’s financial systems.

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator:  Associate Vice President - Finance Division

Policy Owner: Accounting

Policy Contact: Allison Davis

Phone Number: 706-542-1197