Fiscal Information

Published: September 4th, 2013

Category: FSHN Manual

This manual provides information on useful and technical procedures for Best practices in IFAS – Food Science & Human Nutrition Department. It reflects the current University of Florida integrated systems for HR, Payroll, Student information, and financial procedures.

Finance & Accounting:
FSHN has an audit trail for each financial transaction in paper or electronic format. FSHN complies with the goal of purchasing at the best prices and/or purchasing contract available. All financial data is checked to ensure it is accurate and reliable.

Department Ledger Summaries and supporting Detail Ledgers are printed and distributed to the faculty on a monthly basis.This provides a check and balance for expenses for Principal Investigators. The Departmental Accountant is responsible for reconciling the Summary Ledger to the Detail Transaction Ledger. Tracing all the transactions provides a backup to receipts, billing, expenditures, encumbrance changes, transfers, or budget changes. Each transaction is checked and verified that it is related to the Cost Center. Any inaccurate charges are followed up during reconciliation to resolve any problem, and the issue is brought to the attention of the Project Manager and/or Department Chair. Notes are also recorded on the ledger copies. All transaction documents are maintained and retained in the department in compliance with the record retention guidelines for UF and the funding agency.

All items to be ordered, that are over the P-card or commodity purchase limit, are requested by purchase orders. The requester will provide an FSHN request form along with a price list, quote, or sole source base on the item(s) to be purchase.

Grants purchase requests are determined by the Principal Investigator. State appropriations are requested by the Department Chair. Depending on the Cost Center, the Principal Investigator or Department is responsible for getting the order form to the fiscal area. The Assistant Fiscal person or Accountant has the security role for processing the order. The Administrative Assistant has the authority role to approve purchase orders requisitions. (Reviewing cost center, department need or agency appropriation). All grant purchases are compared to the budget proposal and Sponsored programs guidelines.

P-cards are commonly used for purchases in FSHN. To obtain a P-card, follow the instructions on the UF Purchasing, Purchasing Cards (P-card) website.

Training is required and forms must be completed.

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