University of Missouri System

Business Policy Manual

Finance and Accounting

BPM-201 Account Code Assignment & Maintenance

Revised March 10, 1996

Summary

All funds administered by the University are allocated to and expended from established accounts. This subject details the process by which University accounts are established and maintained.

Establishing New Accounts

All new accounts are established by Accounting upon receipt of a New Account Request (UMUW Form 4) from the department or operating unit and approval of the Accounting Office.

Requests for new accounts for grants and contracts must be processed through the campus Grants & Contracts Office (Office of Sponsored Programs for UM).

Written requests should include:

• Name of account
• Name(s) and address(es) of person(s) to receive FBO90/91s.
• Name of Department and Division.
• Date account is to begin and end.
• Name(s) of person(s) authorized to approve expenditures against the account.
• If applicable, name(s) of person(s) required to countersign for expenditures against the account.
• Detailed explanation of the nature of costs to be paid from the account and the funds which support these costs.

Changing Existing Accounts

Changes to existing accounts are requested in writing to the campus Accounting Office (System Accounting for UM).