The UBSC provides financial transaction processing and ensures policy compliance for all transactions. UBSC is responsible to be an independent reviewer of the transactions it receives to process, although the UBSC and the unit are equally responsible for the validity of transactions. As such, both the UBSC and customer unit have an ongoing obligation to try to detect fraud. Following appropriate policies and procedures designed to detect and mitigate fraud is required.
Before providing final authorization for transactions, the UBSC will confirm that all necessary department approvals have occurred, that the transactions comply with university policy, and that the business purposes and supporting documentation are adequate.
To ensure that university funds are expended within policy limitation, unit faculty and staff members are encouraged to become familiar with University Policy 3.14, Business Expenses.
While the fundamental financial oversight responsibility remains at the unit level, and department administrators should have current knowledge of the purpose and use of department accounts, the level of risk associated with individual accounts, and the related transaction activity, the UBSC does provide a monthly review of financial transactions.
This transaction review generally includes an account-level review and analysis (includes reconciliations where approprirate) of processed transactions to determine if they are typical for the account, that the transaction amount seems reasonable, and to ensure policy compliance (e.g., object coding). It also includes monitoring inter-departmental billings for correct account coding; confirming regular monthly billings are posted without significant fluctuations; and a review of Cash Management’s Unidentified Cash Receipts list and Procurement's Unused Airline Ticket reports.
341 Pine Tree Road, East Hill Plaza
Ithaca, NY 14850
|Accounting:||7:30 a.m. - 4:30 p.m., Monday - Friday|
|Payroll:||7:30 a.m. - 5:00 p.m., Monday - Friday|
|Office of the Bursar:||8:00 a.m. - 4:30 p.m., Monday - Friday|