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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
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
21201 Code of Ethics UM System Finance Office

Internal Controls

Policy Number Policy Title Responsible Office
21301 Internal Controls UM System Controller's Office
21302 Segregation of Duties Every Employee
21303 Security Access Validation University office with supervision for this policy
 

Accounting

Accounting Structure

Policy Number Policy Title Responsible Office
22101 Finance Account Code Structure UM System Controller's Office
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
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
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
22401 Capital Assets UM System Controller's Office
22402 Capitalized Interest UM System Controller’s Office
22405 Depreciation UM System Controller’s Office

Debt

Policy Number Policy Title Responsible Office
22501 Internal Loans UM System Treasurer’s Office

Travel

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

Receipts

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

Deposits and Banking

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

Reporting

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

Security

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

Bids and Proposals

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

Suppliers

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

Expenditure Limits and Procure to Pay Methods

Policy Number Policy Title Responsible Office
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
26404 One Card UM System Supply Chain
 

Grants

Policy Number Policy Title Responsible Office
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