Business Procedures Manual

Fiscal Affairs Division

20.1 Annual Financial Reports

20.1.1 Annual Financial Report

(Last Modified on November 4, 2010)

This report is the institutions’ financial data for the fiscal year including the Statement of Net Assets, Statement of Cash Flows, SRECNA, etc. Financial data is pulled from the data warehouse wherever possible to help facilitate the completion of this report.

All statements, with the exception of Cooperative Organization/Foundation reports:

  • Submit to: Associate Vice Chancellor for Internal Audit
  • Submission Date(s): As determined annually by the Associate Vice Chancellor for Internal Audit

All Annual Financial Reports, including Foundation Reports and the Foundation FASB statements converted to the GASB presentation:

  • Submit to: Vice Chancellor for Fiscal Affairs
  • Submission Date(s): As determined annually by the Vice Chancellor for Fiscal Affairs

20.1.2 Annual Expenditure Report

(Last Modified on November 4, 2010)

This report is a budget-based report detailing expenditures by function or budget area.

  • Submit to: University System Office (USO) Budget Director
  • Submission Date: As determined annually by the USO Budget Director

20.1.3 Cooperative Organization Financial Statements

(Last Modified on February 9, 2015)

Governmental Accounting Standards Board (GASB) Statement No. 39, Determining Whether Certain Organizations are component Unit - an amendment of Statement No. 14, requires that the financial statements of foundations and affiliated organizations that meet the criteria to be considered component units of an institution be included with the financial statements of the institution. Further guidance on this topic is provided in Section 17.3, Financial Reporting.

  • Submit to: Vice Chancellor for Fiscal Affairs
  • Submission Date(s): January 31st

20.1.4 Annual Report of Gifts, Bequests, Agreements, and Declarations of Trust

(Last Modified on November 4, 2010)

This report lists gifts, bequests, agreements, and declarations of trust for over $100,000, but does not include gifts directly to a Cooperative Organization. This report should include the amount, donor name, purpose of gift, any restrictions, and the operating budget impact (if applicable).

  • Submit to: Vice Chancellor for Fiscal Affairs
  • Submission Date(s): October 31st

20.1.5 DOAS Inventory Report

(Last Modified on December 29, 2010)

As of December 3, 2008, it is no longer a requirement to submit the DOAS Inventory Report on an annual basis. Institutions should, however, continue to track an inventory listing of equipment equal to, or greater than, $3000 until such time as new guidance is provided by the State Accounting Office.

20.1.6 Changes in Investment Policy

(Last Modified on February 9, 2015)

Each institution should review and update their investment policy at least once every two (2) years. Further guidance on this topic is provided in Section 9.2.1, Investment Policy.

  • Submit to: Vice Chancellor of Fiscal Affairs
  • Submission Date(s): March 31st (every other year minimum)

20.1.7 Investment Performance

(Last Modified on February 9, 2015)

This report provides information on the institution’s annual investment performance, and asserts that the investments have been made in accordance with the institution’s written investment policy that has been filed with the Vice Chancellor of Fiscal Affairs and Treasurer. Further guidance on this topic is provided in Section 9.2.1, Investment Policy.

  • Submit to: Vice Chancellor of Fiscal Affairs
  • Submission Date(s): October 31st

20.1.8 Non-Lapsing Funds

(Last Modified on December 29, 2010)

This report details non-lapsing balances for Continuing Education, Technology Fees, and Indirect Cost revenue, and the institutions’ intent for use.

  • Submit to: Vice Chancellor of Fiscal Affairs
  • Submission Date(s): Coincides with submission of the Annual Financial Report, as noted in Section 20.1.1.
↑ Top