1. Be familiar with OU-HCOM & University Policies and Procedures relating to finance

• OU-HCOM policies located at http://www.oucom.ohiou.edu/policy/
   
• Information, forms, etc. on OU-HCOM Finance and Accounting web site http://www.oucom.ohiou.edu/AFS/finance_accounting.htm.
   
• OU policies relating to financial issues at http://www.cats.ohiou.edu/policy/
   
• Information, forms, manuals, policies/procedures, etc. at OU’s Division of Finance web site http://www.finance.ohiou.edu/index.html
   
• OU Accounting Manual at http://www.finance.ohiou.edu/accounting/index.htm

• Each unit must have some type of budget monitoring system in place to insure accuracy of unit budget and transactions. Depending on the number of accounts and size of budget, this can be as simple as keeping a file and comparing to FMS reports or Oracle online monthly or keeping a full shadow budget on programs such as Excel or Quickbooks. Contact the OU-HCOM Finance staff for assistance in setting up or reviewing a process. Jessica Wingett in COM Research and Grants is available to assist in setup for Quickbooks.
   
• For balancing accounts, keep in mind the many types of transactions that may occur on an account and some may not have a paper document associated with it. Also, some document may need to be estimated until the actual expense or credit shows in Oracle (e.g. orders for printed materials through OU printing services, central copying charges, etc.). Typical charges may include; P-Card purchases, payroll and associated benefits, purchase orders, Direct Payments, Travel Expense Reports, expense transfer memo, budget transfers (increase or decrease), telephone (e.g., monthly basic phone, voice mail, long distance, equipment changes, etc.), mailroom (e.g. metered mail), OU garage (e.g. car rentals, gas, etc.), central copies by pin number and through Central Services, printing charges to central copiers, billing authorizations (e.g., CNS charges for ethernet drops, software, service repair charges, etc.), airport manifest, shipping (e.g., UPS, federal express, etc.), petty cash vouchers, and deposits (e.g., fees received, reimbursements, rebates, etc.).

• Oracle FMS reports should be reviewed monthly to insure that all transactions are correct.
   
• Review monthly payroll report to insure that salary and benefits charged to the account are correct. If employee is to be split between grants or other accounts, verify that this is correct.
   
• If employee leaves, review payroll report to insure that no salary is paid beyond the termination date.
   
• Be sure to question any charges that you cannot verify as soon as possible since the University requires additional justification to make any corrections beyond 60 days (and may not allow the correction).

• Updates on financial related policies and procedures are communicated from Division of Finance through monthly email “Business Matters” that arrives with notification that your monthly ORACLE reports are ready to be viewed.
  Your unit is responsible for knowing and following this information.

• Review the OU-HCOM Checklist for New Grant Awards found at http://www.oucom.ohiou.edu/AFS/forms.htm. This document is helpful for new or existing grant accounts to insure transactions are charged appropriately and it provides contact information.

• Ensure that a procedure for handling deposits is in place and is being adhered to according to the OU-HCOM Finance & Accounting deposit procedures found at http://www.oucom.ohiou.edu/AFS/forms.htm.
   
• A written procedure approved by the OU-HCOM CFO should be documented.

• Review and understand the Division of Finance Purchase Card Manual found at http://www.finance.ohiou.edu/forms/pcardforms.html.
   
• Review and understand the OU-HCOM P-Card Guidelines found at http://www.oucom.ohiou.edu/AFS/p-card.htm
   
• A process should be in place for collection of receipts.
   
• Receipts must be matched to each transaction on the statement and receipts attached to statement.
   
• Statements must be reviewed and approved by the P-Card holder and the supervisor using the P-Card Statement Approval Form at http://www.oucom.ohiou.edu/AFS/forms.htm.
   
• Dean and director level statements are to be submitted monthly to the OUHCOM Finance staff for audit and approval (contact OU-HCOM Finance staff if unsure which statements to submit).
   
• The OU-HCOM Finance staff will conduct periodic audits of all other staff statements.

• Review and understand the OU Division of Finance PARIS Manual and related forms found at http://www.finance.ohiou.edu/forms/pcardforms.html.
   
• P-Card transactions on PARIS should be updated, viewed, and approved at minimum weekly.
   
• A backup plan should be in place for all PARIS viewers/approvers.
   
• Insure that the account numbers being charged for P-Card transactions are correct.

• Be familiar with all policies and procedures for business travel and entertainment. See OU Division of Finance web site http://www.finance.ohiou.edu/travel/index.html
   
• Be familiar with OU-HCOM Food Expense (#5.01) and Local Travel (#5.02) policy found at http://www.oucom.ohiou.edu/policy/

• Review monthly basic phone charges to insure accuracy of account number charged and that all charges belong to the unit.

• Follow the OU-HCOM policy #5.05 Telephones: Long Distance Bobcat Account Cards http://www.oucom.ohiou.edu/policy/. Note that no personal calls are allowed. Follow instructions noted in this policy if personal calls mistakenly made on business account card.
   
• As directed in the policy, monthly long distance charges must be signed and verified as business calls by the employee.
   
• Review charges to insure that the correct operating or grant account is being charged.

• Insure correct operating or grant account is being charged on mail cards.

• Insure that the natural account codes are being used correctly. See complete listing on Division of Finance web site at http://portal.finance.ohiou.edu/nalookup/.

• The department/unit originating any type of transaction documents (e.g., Direct Payment, Requisition, Travel Expense Report, transfers, deposit information memos, etc.) must keep copies of each document and all backup. Department files are for reference and inquiry purposes.
   
• The OU-HCOM Finance office keeps copies of all documents processed through its office. Documents are kept for the current year and two prior years on-site. The Division for Finance office maintains the official documentation for all financial reports and documents.

• Each unit should have an official records retention schedule (for all records, not just financial).
   
• Review the OU Records Retention policy at http://www.ohiou.edu/policy/01-050.html
   
• Contact the University Archivist and Records Manager (Bill Kimok) at 593-2712 to create a records retention schedule for your area.