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Policies - Finance

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Fiscal Responsibility and Internal Control

Fiscal Responsibility and Certification

Policy Number Policy Title Responsible Office Procedure
21101 Fiscal Responsibility UM System Controller’s Office  
21102 Monthly Closing & Reporting UM System Controller’s Office  
21103 Financial Accounting & Reporting Basis UM System Controller's Office  
21104 Component Units UM System Controller's Office  
21105 Internal Control - Sub-Certification Process UM System Controller's Office  
21106 Campus Financial Sub-Certification UM System Controller's Office  

Code of Ethics

Policy Number Policy Title Responsible Office Procedure
21201 Code of Ethics UM System Finance Office  

Internal Controls

Policy Number Policy Title Responsible Office Procedure
21301 Internal Controls UM System Controller's Office  
21302 Segregation of Duties Every Employee  
21303 Security Access Validation UM System Controller's Office  
 
 

Accounting

Accounting Structure

Policy Number Policy Title Responsible Office Procedure
22101 Finance Account Code Structure UM System Controller's Office Chartfield Usage
22102 Transfers UM System Controller's Office  
22103 Feeders UM System Controller's Office  
22104 Service Centers UM System Controller’s Office  

Revenues and Income

Policy Number Policy Title Responsible Office Procedure
22201 State Appropriations UM System Budget & Planning  
22203 Tuition and Fee Refunds UM System Controller's Office  
22205 Gifts and Gift Pledges Campus Advancement Office  
22207 Sales of Products and Services UM System Controller’s Office  
22209 Summer Session Deferrals UM System Controller's Office  
22210 Collections, Write-offs, and Allowance of Accounts Receivables UM System Controller’s Office  
22212 Sales Tax UM System Controller's Office  
22213 Nonresident Entertainers Tax UM System Controller's Office  

Expenditures

Policy Number Policy Title Responsible Office Procedure
22301 1099 Reporting UM System Controller's Office  
22303 Payroll Verification UM System Controller’s Office  
22304 Recording Vacation Accrual UM System Controller's Office  
22307 Awards, Gifts & Prizes UM System Controller's Office  
22308 Gift Cards UM System Controller's Office  
22310 Expense Reimbursements UM System Controller's Office  
22311 Moving Expenses UM System Controller's Office  
22312 Business Meals UM System Controller's Office  

Capital Purchases

Policy Number Policy Title Responsible Office Procedure
22401 Capital Assets UM System Controller's Office  
22405 Depreciation UM System Controller’s Office  

Debt

Policy Number Policy Title Responsible Office Procedure
22501 Internal Loans UM System Treasurer’s Office  
22502 Accounting for Leases UM System Controller's Office  

Travel

Policy Number Policy Title Responsible Office Procedure
22601 Travel Authorization UM System Controller's Office  
22602 Methods of Transportation and Allowances UM System Controller’s Office  
22603 Allowable Travel Expenses UM System Controller's Office  
22604 Cash Advances in Travel Status UM System Controller's Office  
22605 Guest Travel UM System Controller's Office  
 
 

Records Management

Policy Number Policy Title Responsible Office Procedure
23001 Records General Policy Records Management  
23002 Storage and Disposal of University Records Records Management  
 

Property and Real Estate

Policy Number Policy Title Responsible Office Procedure
24001 Design & Construction Delegation of Authority and General Policies Facilities Planning and Development  
24002 Fees for Use of University Facilities Facilities Planning and Development  
24003 Keys to University Buildings Facilities Planning and Development  
24004 Use of University Equipment & Resources UM Real Estate & Business Services  
24005 Use of Employee Personal Property UM Real Estate & Business Services  
24006 Vehicles Risk & Insurance Management  
24007 Inventory of Moveable Property and Equipment UM System Supply Chain – Asset Management  
24009 Required Review of Potential Real Estate Gifts Office of Real Estate and Business Services  
24010 Real Estate - General UM Real Estate & Business Services  
24012 Equipment, Leases, and Rentals UM System Supply Chain  
24013 Resale, Sale or Disposal of University Property UM System Supply Chain  
 

Cash Handling

Administration

Policy Number Policy Title Responsible Office Procedure
25101 Cash Administration Campus Cashiers Office  

Receipts

Policy Number Policy Title Responsible Office Procedure
25201 Receipts UM System Treasurer’s Office  

Deposits and Banking

Policy Number Policy Title Responsible Office Procedure
25301 Deposits and Banking UM System Treasurer's Office  
25302 Check Cashing UM System Treasurer's Office  
25303 Bank Deposits, Reconciliations, and Corrections UM System Controller's Office  

Disbursements

Policy Number Policy Title Responsible Office Procedure
25401 Distribution of Checks UM System Controller's Office  
25402 Wire Transfers UM System Treasurer's Office  
25403 Stop Pay and Replacement Payments UM System Controller's Office  
25404 Cash Refunds UM System Controller's Office  

Cash Funds

Policy Number Policy Title Responsible Office Procedure
25501 Cash Funds UM System Treasurer's Office  

Reporting

Policy Number Policy Title Responsible Office Procedure
25601 Loss of Money and Securities UM System Treasurer's Office  

Security

Policy Number Policy Title Responsible Office Procedure
25701 Cash Security UM System Treasurer's Office  
25702 Transportation, Escorts and Guards UM System Treasurer's Office  
 
 

Procure to Pay

Authority

Policy Number Policy Title Responsible Office Procedure
26101 Procurement Authority UM System Supply Chain  

Bids and Proposals

Policy Number Policy Title Responsible Office Procedure
26201 Bids and Proposals UM System Supply Chain  
26202 Preferential Consideration UM System Supply Chain  

Suppliers

Policy Number Policy Title Responsible Office Procedure
26301 Suppliers UM System Supply Chain/UM System Controller’s Office  

Expenditure Limits and Procure to Pay Methods

Policy Number Policy Title Responsible Office Procedure
26401 Incidental Expenses UM System Supply Chain  
26402 Special Purchases UM System Supply Chain  
26403 Surplus Property UM System Supply Chain  
Policy Number Policy Title Responsible Office Procedure
26404 One Card UM System Supply Chain  
 

Grants

Policy Number Policy Title Responsible Office Procedure
27001 Establishing an Award UM System Controller’s Office  
27002 Allowable Costs and Cost Principles UM System Controller’s Office  
27003 Cost Sharing/Matching UM System Controller’s Office  
27006 Cash Management – Federal Drawdowns UM System Controller’s Office  
27007 Cash Management – Non-Letter of Credit Invoicing UM System Controller’s Office  
27009 Uncollectible Grants Receivable UM System Controller’s Office  
27010 Effort Verification Reports UM System Controller’s Office  
27011 Payments to Research Study Participants UM System Controller’s Office  
27012 Participant Support Costs UM System Controller’s Office  
27015 Period of Availability UM System Controller’s Office  
27016 Award Closeout UM System Controller’s Office  
27017 Institutional Base Salary UM System Controller’s Office  
27018 Federal Fringe Rate UM System Controller’s Office  
27019 Program Income UM System Controller’s Office  
27020 Federally Sponsored Construction Projects UM System Controller’s Office  
27021 Federally Funded Assets UM System Controller’s Office  
27022 Reporting UM System Controller’s Office  
27023 Procurement, Suspension, and Debarment UM System Controller’s Office  
27024 Subrecipient Monitoring UM System Controller’s Office  
27025 Facilities and Administrative Costs UM System Controller’s Office  
 

Reviewed 2022-10-21