UHV- PRACTICES FOR MONTHLY PROCESSING

The Finance office offers the following suggestions to UHV employees to ensure compliance with university policies and procedures.

1. Verify active cost centers for your department using the UGL1074.       (You can run the UGL1063 report to determine which cost centers are active).    A complete verification includes:

1. Verifying transactions posted match source documents (i.e. vouchers, journal entries, telephone reports, deposits, etc.);

2. Identifying, investigating, and correcting posted transactions that are incorrect or unknown;

3. Verifying the validity of unposted transactions that are in process, as Soft Commitments (i.e. budget-checked but not posted); Delete any vouchers that are duplicates or were created by your department that will not be processed.  Do not delete vouchers created by Finance or by another department/person (e.g., state interest, postage, telephone, etc.).  If you believe any of these vouchers should be deleted, notify Finance (Debbie Jozwiak, jozwiakd@uhv.edu) or responsible individual.

4. Check the OPEN COMMITMENTS to verify PO encumbrances are accurate.  Notify the Purchasing Department (Brenda Zellmer, ZellmerB@uhv.edu) of any corrections needed.

5. Validating/correcting any Unbudgeted Fund Equity balance.

6. Run the UHV_UNPOSTED_VOUCHERS_NOT_BC query for your department at the same time as the Dept. Monthly Verification Reports.  This will show also any vouchers entered but not budget-checked.  Follow the same procedure listed in 1c above.

7. Verification forms are required to be signed by you & your manager: 

                                                               i.      whoever checks the cost center activity will need to complete all of the excel UGLS1074_Verification forms tabs: 

1.       Mark items as addressed on each of the tabs:  Assets/Liab/Fund Equity with “NA” or “X”, Revenue/Expense, Budget Journals, Soft, & Open Commitments with an “X”;

2.      Print the Verification sheet, then sign it or use the electronic method via email;

                                                             ii.      have the manager sign and date the excel verification sheet, or keep the “Read” receipt, indicating that they approve of the current balances as shown on the form per instructions on Managers’ Checklist.

                                                            iii.      the excel file, and/or verification sheet/Read receipt, will then need to be filed & saved.  Please retain this information for the last period of the previous fiscal year (period 998) and all of the periods in the current fiscal year.

2. Run the UHV_UNPOSTED_VOUCHERS_ALL query for your department during the month to verify the validity of any items that appear.  Run on about the 15^th or 20^th to give ample time to correct before month end, if necessary.

3. Review long distance reports to verify all charges are business related.  Each caller should sign and date his/her own report and return within 10 days of receipt.

4. If you receive any property, including capital or controlled assets, for which you have not received a property tag (metal or paper), contact Receiving Department (Cassandra Clark, Clark@uhv.edu).  If desired, you could maintain a spreadsheet with the item description, location, and date received.  When a property tag is applied, you could record the tag # or delete it from your list.

5. Check the HUB reports on a monthly basis to assess if operating within guidelines (at least 20% of purchases are through HUB vendors).  Please contact the Purchasing Department (Brenda Zellmer, ZellmerB@uhv.edu) if you have any questions.

6. Cost centers that will no longer be utilized should be inactivated within 60 days, so they are removed from the list of cost centers to be verified.  However, cost centers cannot be inactivated until all of the following are true:

a.    All individual asset and liability account balances are zero.

b.    The net total of all fund equity accounts is zero.

c.    The cost center has no open commitments.