Fiscal Accountability and Stewardship of University Resources
|Effective:||12/15/09||Approved By: Senior Associate Vice President for Financial Affairs and Chief Financial Officer|
For Assistance Contact: Senior Associate Vice President for Financial Affairs and Chief Financial Officer
To provide guidance on the stewardship of university resources and the related roles and responsibilities for employees.
Table of Contents
- Roles and Responsibilities
- Compliance Training
Stewardship refers to processes and structures that manage, allocate and monitor resources critical to UTSA’s mission. Stewardship of UTSA's financial resources includes (but is not limited to) fiscal accountability; compliance with laws, regulations and policies; sufficient transparency; and appropriate internal controls to prevent excessive financial commitments and overspending.
Stewardship of UTSA's resources is the responsibility of all employees. Various administrators have specific responsibilities:
The senior vice president for Business Affairs (SVPBA) has primary responsibility for control over UTSA's financial and physical resources. As the chief business officer, the SVPBA is responsible for establishing and communicating policies and procedures to help ensure the proper and efficient use of UTSA resources in compliance with applicable laws and regulations, UT System Board of Regents' Rules and Regulations, and sound business practices.
The following areas report to the SVPBA and have key roles in monitoring, controlling and safeguarding UTSA's financial resources:
- Financial Affairs
- People Excellence
- Real Estate & Property Management
- Public Safety
- Learning, following and upholding all financial policies and procedures established by UTSA. Periodic internal reviews must be performed to ensure continued compliance with UTSA's financial policies and accounting procedures
- Maintaining adequate records as required by UTSA's Records Retention Schedule and external regulatory agencies
- Expending or committing funds within approved UTSA budgets using appropriate financial, accounting and procurement procedures to ensure that purchased goods and services are necessary to UTSA operational requirements and obtained at the best available price
- Expenditures and revenues must be reviewed and reconciled regularly to ensure appropriateness
- All budget changes must comply with guidelines and instructions issued by UTSA's Budget and Financial Planning office consistent with UT System budget rules and procedures
- Overseeing their department’s timekeeping processes to ensure correct salary and wage payment, accurate leave administration records and compliance with UTSA policy and all applicable laws
- Reviewing internal controls for proper segregation of duties
- Correcting any internal control weakness that could lead to waste, misuse or destruction of assets (including data)
- Identifying potential conflicts of interest and taking effective action to prevent them. For further information, see HOP1.33
- Reporting any suspected or known misuse or destruction of assets (including data) and/or conflicts of interest
- Maintaining and safeguarding sensitive information as required
- Ensuring the security of institutional data and other UTSA records
- Ensuring monthly reviews of their cost centers/projects per Financial Guideline — Department Financial Reviews
- Completing the annual Fiscal Management Sub-Certification
UTSA employees are required to complete training to ensure understanding of the compliance issues that impact their work. For information on compliance training, review the Institutional Compliance and Risk Services website.
Department managers are required to complete the Fiscal Management Sub-Certification each fiscal year for all of their Cost Centers/Project IDs. For more information, visit the Management Assessment Tool (MAT) or fmog.1.4.3.utsa.
The chief administrative officer (the UTSA president), chief financial officer and financial reporting officer are required to complete certifications in accordance with University of Texas (UT) System UTS142; they will certify to UT System Administration that UTSA's financial statements are presented fairly and are materially accurate, and that any significant deficiencies and material weaknesses in the internal controls and all known frauds have been reported and addressed. The chief financial officer also certifies compliance with University of Texas (UT) System UTS 134 — Code of Ethics for Financial Officers and Employees, including knowledge of any violations. The chief audit executive annually certifies that the Monitoring Plan for Segregation of Duties and Review of Financial Activity (Monitoring Plan) has been reviewed and that known frauds have been reported and addressed.
|09/07/23||Updates to reflect organizational changes, current department manager responsibilities (section B.2) and current certification processes.|
|04/16/19||Updates to header section and section B. Updates to section D based on UTS 142.1. Editorial amendments throughout.|