The purpose of financial reporting is to provide relevant, reliable, and comparable financial information in a structured, easy-to-understand form that conveys the performance and changes in a unit's financial position and that can be used to inform the decision-making process.
Note: Financial reporting support can be provided independent of the other support service components.
Unit Responsibilities
- Provide feedback to the UBSC financial service associate (FSA) on report format, comprehensibility, and usefulness.
- Contact the FSA with any questions, concerns, or requests for additional information.
UBSC Responsibilities
- Prepare accurate and complete reports that meet unit needs for operations, decision-making, and strategic planning.
- Standard reports will include year-to-date actual activity versus budget – summarized based on unit need/request (i.e., account, sub-fund, etc.).
- Additional information, if available in the Information Delivery system, can be added at a unit's request.
- 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.
