Job Expectations for Individuals with Budgetary Authority
Date of Issue: February 20, 2004
Purpose of Document:
Georgia State University functions in a decentralized budgetary environment. Therefore, in order to ensure the integrity of our financial resources, specific internal control policies are an essential component of all budget-related jobs. The policies enunciated in this document are applicable to all aspects of the university to include Georgia State University (GSU), GSU Research Foundation (GSURF), and GSU Foundation (GSUF) transactions, and any related organization for which the financial transactions are processed through Georgia State University.
This document outlines basic job accountabilities related to proper internal control practices for individuals with fiscal responsibilities for divisional, departmental, unit, grant, and/or sponsored project budgets. It is intended to help ensure that appropriate internal controls are followed to protect the University's assets and interests.
Note: These guidelines cover some primary internal control expectations only, and are to be considered illustrative rather than exhaustive.
|Internal Control||Budgets & Expenditures|
Ensures that budgetary actions are approved by someone other than the initiator of the request for all expenditure transactions. Each reviewer, whether serving as an initiator or an approver, is accountable for personally understanding and vouching for the business integrity of the transaction.
|Authorized Approvers Only||
Initiates or approves only those transactions for which one is specifically authorized.
|ARM's Length Approval||
Does not approve one's own transactions.
Does not delegate other individuals to sign one's name and/or use one's passwords (e.g., Spectrum System password).
|Purchase Card Restrictions||
Understands and complies with procedures regarding use of University Purchase Cards (P-Cards), including the use of the P-Card only for non-equipment purchases of less than $5,000 and equipment purchases of less than $3,000 (at date of this draft, subject to change/update).
|Competitive Large Purchases||
Understands and complies with procedures for large purchases, including the general expectation that all purchases over $5,000 must be competitively bid and must be made by requisition rather than by Express Voucher or P-Card.
|Timely Review of Transactions||
On a periodic basis, in accordance with divisional or college procedures (at least quarterly) reviews the detailed expenditures made against each account(s) for completeness and correctness after charges post to the ledger. Contemporaneously documents each review in a manner that verifies the business integrity of all transactions. Maintains such documentation for audit purposes for 12 months.
|Expenditures Within Budget||
Regularly reviews total expenditures on account(s) to ensure the account stays within budget, in accordance with divisional or college procedures (at least quarterly).
|Internal Control||Payroll/Personnel Practices|
|Review of Persons Being Paid||Verifies each payroll at least monthly to ensure that all employees on account(s) who are included as active are actually employed and working as reported. |
|Verification of Time Worked||
Ensures that timesheets are:
|Verification of Student Status||For any individual being paid as a student assistant, verifies that the individual is enrolled as a Georgia State University student for the current term. |
|Regular Evaluation||Issues timely staff performance evaluations at least annually.|
|Segregation of Duties||Complies with segregation-of-duties practices to ensure that no individual is in a position to both initiate and conceal an error or irregularity.|
|Explicit Job Descriptions||Provides written job descriptions for all subordinate positions that contain sufficient detail as to provide clear scope and accountability of each position.|
|Internal Control||Sponsored Research|
Principal Investigators (PI's) are responsible for financial administration of sponsored projects. Day-to-day financial administration may be delegated, but not overall financial oversight.
In addition to the general internal controls listed herein, Principal Investigators provide regular oversight to ensure that:
Charges are in compliance with Federal, State, and University policies, procedures, and regulations.
|Internal Control||Other Controls|
|Written Procedures||Maintains divisional/departmental/unit-specific policies/procedures in written form, accessible to any individual who may perform the activities.|
|Moveable Property Tracking||
|Spectrum System Access Control||
Ensures that assignment of building, suite, and office keys is limited to necessary personnel. Ensures that employee keys/IDs are returned at transfer or termination of employment.
|University Property for Business Use Only||
Ensures that University equipment, including telephones, computers, desks, file cabinets, and other storage area, are used for University business only, and not for personal purposes.
|Termination Clearance||Ensures that individuals appropriately clear from the university at time of termination and do not have outstanding obligations to the institution.|