Summary of University Financial Responsibilities....
The fundamentals of financial responsibility call for all employees to make a personal commitment to “do the right thing” when spending University money or using University resources.
By accepting authority to approve financial transactions you are entrusted with using resources for their designated purposes, as prescribed by policies, laws, regulations, and rules (as well as contract, grant and donor restrictions). Your approval of documents is a personal and professional assurance that all transactions have been fully reviewed and have met the minimum requirements detailed below:
- Funds are available for the purchase and will not cause a budget or cash deficit.
- The transaction is for official University business and supports the University’s mission.
- Adequate source documents support the transaction.
- The transaction is coded to the correct Fund, Organization, Account, Program and Activity.
- Duties are properly segregated so that no one employee controls all phases of the transaction.
- The transaction is in compliance with any sponsor or donor stipulations and restrictions.
- The transaction meets the ethical standards of the University as required by UNC Board Policies.
The University’s Finance Training Manual, along with your accounting and finance contact person can provide additional information and answer questions regarding your Financial Responsibilities.
- Finance Training Manual
- Financial Responsibility Approval Document
- UNC Fiscal Rules
- Colorado Statutes
- Internal Revenue Service