Finance Division

Special University Organizations

Special University Organizations shall be subject to the same financial controls and auditing scrutiny as any other University department or budget center. Additionally, it will be required to develop, and update annually, a five-year financial plan.

All Special University Organizations shall be assigned a unique account number that falls within the unit number series of their primary University Affiliate; e.g., Engineering 09XX, Academic Affairs 51XX, etc.

The Director of a Special University Organization shall be responsible for managing the budget in accordance with established University policies and procedures. In general, the University Affiliate(s) will be responsible for any budget shortfall incurred by the Special University Organization. Special responsibilities and expectations regarding financial accountability should be clearly stated in the operational plans for the Special University Organization.

Review

All Special University Organizations shall be subject to financial review every other year unless the University Affiliate requests a special financial review. The specific content of the internal financial review shall be determined by the University Affiliate. As a minimum, their review should cover the following:

  • Identification of funding sources
  • Adequacy of resources
  • Debt service
  • Compliance with five-year financial plan

The results of the review is one tool that may be used by the University Affiliate to determine if an existing organization should be maintained or eliminated. A copy of the review should be sent to the Provost and the Vice President for Business and Finance.