fiscal management sub-certification process
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Fiscal Management Sub-Certification Process. Electronic sub-certification conducted through the Office of Institutional Compliance and Risk Services in coordination with Controller’s Office Sent out by e-mail on September 15 Should be completed by September 30 - PowerPoint PPT PresentationTRANSCRIPT
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FISCAL MANAGEMENT SUB-CERTIFICATION PROCESS
Electronic sub-certification conducted through the Office of Institutional Compliance and Risk Services in coordination with Controller’s Office
Sent out by e-mail on September 15
Should be completed by September 30
Covers the period of 9/1/09 – 8/31/10
Required by UT System Administration Policy UTS 142.1 – Policy on the Annual Financial Report.
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Changes: E-Mail is from [email protected]
One questionnaire which combines the Sub-Certification with the Management Certification
New course number is MC2010
Was changed to avoid confusion
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FISCAL MANAGEMENT SUB-CERTIFICATION PROCESS
Annually, each Account Administrator should provide a fiscal management sub-certification to the Financial Reporting Officer- the Associate Vice President for Financial Affairs.
The fiscal management sub-certification certifies that, among other items, their accounts are being reconciled timely, duties are properly segregated and no material weakness exists relative to their internal control.
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Account administrators failing to complete the sub-certification are reported to their respective Vice President, Auditing & Consulting Services, and Assistant Vice President Financial Affairs/University Controller.
The Office of Institutional Compliance & Risk Services utilizes administrator responses (or lack thereof) when performing the annual risk assessment to determine account administrators selected for Quality Assurance Reviews (QAR).
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Reminders: If an account is inactive, zero balance or unit administrator has changed
Complete Unit and Account Request Form Send to Accounting Office
Account administrator must complete sub-certification if any expenditures were processed during the fiscal year, even if zero balance at 8/31