BUDGET STATUS RECONCILIATIONS
Effective: January 1, 2009
Revised: January 1, 2009
Clemson University expects employees assigned with budgetary authority to plan and regularly review spending patterns to assure they are spending within their budgetary authority. To assist in this process, a Budget Status expenditure report is provided monthly for review.
Administrators given budgetary authority are expected to review transactions to assure proper approval for each expenditure transaction that has been charged to their budget, as defined in the University Disbursement policy.
Currently, transactions that have been reviewed /approved under the disbursement policy include payroll, p-card, and buyWays expenditures. For these transactions, no further action is required.
Other transactions charging their budget authority may originate from other areas without proper approval. Departments shall review and reconcile these types of other transactions to assure proper budgetary approval has taken place. Required transactions are those that have not been previously reviewed/approved pursuant to the University Disbursement Policy.
This policy provides direction for the entire University, however, each department after considering risks and efficiencies may also establish their own policy detailing specific transactions that need to be reviewed based on a dollar threshold or using sampling criteria for their specific area. Individual departmental policies may be less restrictive than this University policy, with proper justification.