Questions & Related Policies

  • FSC Question #1 - 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 - Does your unit have effective and compliant practices for determining, reviewing and approving compensation (including extra compensation)?
  • FSC Question #3 - 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 - Does your unit report fraud and all material financial risks to the appropriate University officials?
  • FSC Question #5 - Does your unit have effective processes to monitor and manage audit findings?
  • FSC Question #6 - 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 - 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 - 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 - 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 - Does your unit formally route externally sponsored applications, proposals and awards through the Division of Sponsored Programs?¬†