BUDGET STATUS RECONCILIATIONS
Effective: January 1, 2009
Revised: April 17, 2019
Clemson University expects employees assigned with budgetary authority to plan and regularly review spending patterns to ensure they are spending within their budgetary authority, as well as review transactions to ensure proper approval for each expenditure transaction that has been charged to their budget, as defined in the University Disbursement policy.
Departmental expenditure and revenue transactions are to be reviewed monthly to help ensure the validity of financial transactions by comparing supporting documents to the transactions listed on the monthly budget status reports. Budget Status detail expenditure and revenue reports are provided monthly for review within the Data Warehouse system.
Certain transactions, including payroll, p-card, employee travel (electronic submission) and buyWays expenditures are separately approved in accordance with University payroll and disbursement policies. For these transactions, no further approval 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 and approved pursuant to other University policies.
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.
- Reporting Units
- Policies and Procedures
- Teams, Committees, Councils
- Office of the Executive Vice President for Finance and Operations
- Accounting for Related Organizations
- Accounting Services
- Accounts Receivable
- Budget Office
- Cash and Treasury Services
- Controller's Office
- Human Resources
- Land and Capital Asset Stewardship
- Lean Office
- Procurement Services
- Student Financial Services
- University Facilities