Contact the UBSC financial services assocate (FSA) with any questions, concerns, or requests for additional information on fund balances.
UBSC FSA Responsibilities
Review and track fund balances to determine reasonableness of spend as well as on a month-to-month comparison basis; investigate variances.
Note: To ensure compliance with university policy and award requirements, sponsored account activity may be monitored at a more granular level than fund balance.
Monitor budget to actuals and request corrections for any transaction coding changes that may be needed.
Identify and research large variances or unexplained discrepancies; requesting corrections, if necessary.
Ensure receipt of transfers-in based on annual budget or additional unit agreements.
Ensure revenue and expense object codes comply with sub-funds (i.e., no unallowable on sponsored).
Review and/or reconcile asset and liability activity including advances; receivables, inventory and accruals; and contractor expenses, as agreed in the service-level agreement and in accordance with university guidelines.
Monitor open pre-encumbrances.
Meet regularly with unit leaders about expenditures, variances, and/or issues.
Involve and inform the UBSC FSA of additional reserve account commitments made (outside of the budget development process).
Involve and inform the UBSC FSA of changes to agreed-upon transfers - in or out of unit accounts (outside of the budget development process).
Contact the UBSC FSA with any questions, concerns, or requests for additional information quarterly forecast reports.
Determine appropriate frequency of forecasts.
UBSC FSA Responsibilities
Prepare accurate and complete reports that meet unit needs for operations, decision-making, and strategic planning.
Assist department with quantification of costs of strategic goals and objectives.
Prepare standard reports that include year-to-date actual activity versus budget as well as a forecast of year-end total expenses and results – summarized based on unit need/request (i.e., account, sub-fund, etc.).
Determine available and potential funding sources and quantify unmet, or potentially unmet, funding needs.
Suggest alternatives and potential options to meet funding needs.
Work with the department/unit and the University Budget Office on funding issues and needs.
Maintain a list of commitments, contracts, and agreements.
Report frequency will be determined by unit leaders in consultation with UBSC based on a number of factors – e.g., total budget, unit fund source(s) and type, etc.
Occasional, ad hoc reporting is available, upon request.