GUIDELINES FOR REVIEWING/RECONCILING BUDGET GROUPS (EXCLUDING SALARIES AND BENEFITS SUB-ACCOUNTS) WITH TOTAL ANNUAL BUDGETS
LESS THAN $100,000

UTSA’s managers serve as stewards of the university’s assets.  As leaders, we are expected to guide, direct, and diligently protect these resources.  The Regents’ Rules and Regulations, Part Two, Chapter 2, Section 2.6 states the following:

“Statements of department or other administrative unit accounts shall be prepared monthly by the business office and shall be sent periodically to the department heads who will compare their records with those of the business office and report any differences promptly to the business office.” 

Required procedures for Budget Groups (excluding salaries and benefits sub-accounts) with total annual budgets less than $100,000 

 NOTE:  An Account Review is the minimal action required, however, it is not ideal for all Budget Groups with total annual budgets less than $100,000. Account administrators should evaluate the complexity of their operation, e.g., number and types of transactions and determine whether an Account Review or an Account Reconciliation provides them with the appropriate degree of assurance that their accounts are being appropriately administered.  Account administrators should also follow the requirements set forth by their particular vice presidential area. 

Recommended procedures for Budget Groups (excluding salaries and benefits sub-accounts) with total annual budgets less than $100,000 

While not required for operating accounts under $100,000, a full Account Reconciliation (ACCOUNT RECONCILIATION PROCEDURES ) is highly recommended. An Account Reconciliation takes the Account Review a step further by providing information regarding the funds available for the remainder of the fiscal year.   

NOTE:  Step by step procedures for performing an Account Review and an Account Reconciliation are provided on the following pages.

 

UTSA Account Review/ Budget Group Reconciliation Checklist with Total Annual Budget of Less Than $100,000

 

COMPLETED

(ü/ DATE)

1.      Establish a pending file with paper copies of transaction documents for the month (PO’s, Petty Cash Receipts, Work Request, Deposit Slips, etc.)   If you use Excel, Quicken or QuickBooks, keep track of the paper documents that have been entered into your system.

 

2.      Statement of Account received after the 15th of each month for any budget group with financial activity.   If you did not receive, contact Accounting Services Department at ext. 4212.

 

3.      Compare the beginning balance of the current month to ensure it matches the Ending balance from the previous month’s SOA.

 

4.      Review and scan SOA for unusual entries.  

 

 

5.      Ensure that any unreconciled items from the previous month have been corrected.  Follow-up as necessary.

 

 

6.      Match each transaction listed in the SOA to a document in your pending file / departmental log.

 

 

7.      Denote that transactions agree to the supporting documentation by placing a check mark (ü) after each item.  Once your paper transaction documents are cleared they can be moved to your “permanent” files.

 

You may not have paper documentation for the following transactions:

  • Mail Services: review charges to determine reasonableness given the volume of mail you may process.

 

  • Facilities Services – match your pending workorders

 

  • Telephone Services – match to phone bills.

 

8.      Each employee’s name appearing on the SOA for salary budget categories should be verified to ensure the employee listed is employed by the department and that appropriate salary amounts were paid and disencumbered.

 

 

9.      Note and resolve items that do not agree with supporting documentation.  Contact one of the following individuals for corrections; retain copies of any email requesting corrections.

 

 
  • Corrections for Interdepartmental Transfers (IDT) – contact the charging department.

 
  • Purchase Order corrections are handled by the Purchasing Department   Email: Purchasing@utsa.edu or ext. 4060

 
  • Corrections for Grant and Contract accounts (26-funds): Email: carol.hollingsworth@.utsa.edu or ext. 4229

 
  • Corrections for all other accounting errors:  Email: accounting.ofc@utsa.edu or ext. 4834/4827

 

10. The reconciler should sign and date the first or last page of the SOA for each budget category.  Alternatively, the STATEMENT OF ACCOUNT RECONCILIATION & ACKNOWLEDGEMENT FORM can be completed, signed and dated by the reconciler after reviewing the SOA’s.

 

 

11.  The account administrator should review and approve the SOA by signing and dating the first or last page of the SOA for each budget category or the STATEMENT OF ACCOUNT RECONCILIATION & ACKNOWLEDGEMENT FORM.

 

 

12.  File/retain the SOA information and necessary back-up. The SOA should be retained for the current fiscal year plus three additional years.

 

 

 

Use the worksheet below in conjunction with the reconciling procedures to determine your “bottom line” at the end of every month.

 ACCOUNT RECONCILIATION WORKSHEET