Monthly Department Financial Reviews

Reconciliation of Monthly Financial Activity

Departments must review actual revenues and expenditures against budget on a regular basis to help ensure fiscal accountability and solvency. These reviews help management identify errors and inconsistencies, determine availability of funds and identify internal control deficiencies. As a reconciler or approver, you are responsible for determining your funds available.

You must use SAHARA, the module within PeopleSoft that is the system of record for reconciliation at the university, to:

• Review activity posted to your cost center(s) or project(s)
• Consider transactions that have not yet posted
• Focus on areas needing more attention like salary activity, accounting corrections and negative balances