Questions & Related Policies [1]
- FSC Question #1 [2] - Do you have effective processes in place to identify and disclose conflicts of commitment/interest and to communicate the importance of exercising stewardship in the use of University resources?
- FSC Question #2 [3] - Does your unit have effective and compliant practices for determining, reviewing and approving compensation (including extra compensation)?
- FSC Question #3 [4] - Does your unit have effective controls in place to comply with all cash & credit card handling policies, including payment card industry standards?
- FSC Question #4 [5] - Does your unit report fraud and all material financial risks to the appropriate University officials?
- FSC Question #5 [6] - Does your unit have effective processes to monitor and manage audit findings?
- FSC Question #6 [7] - Does your unit have an effective control environment which holds individuals accountable for their responsibilities, requires adequate training and timely review of financial activity?
- FSC Question #7 [8] - Does your unit have effective procedures for managing, reviewing and valuing non-cash assets & liabilities (A/R, Inventory, etc.) and approving valuation adjustments such as write-offs?
- FSC Question #8 [9] - Does the unit acknowledge their responsibility for verifying that costs incurred are reasonable, have a valid University business purpose, comply with institutional policies and are approved by the appropriate individuals?
- FSC Question #9 [10] - Does your unit effectively monitor compliance with spending restrictions from all funding sources (including but not limited to donor intent, sponsor cost principles & restrictions)?
- FSC Question #10 [11] - Does your unit formally route externally sponsored applications, proposals and awards through the Division of Sponsored Programs?