Issues Under Review

Dear Colleagues:

A proposal for a new UC Presidential Policy entitled Principles of Accountability with Respect to Financial Transactions has been submitted for Senate review.

The key issues are described as follows.

• Existing finance policy was rewritten to follow the 2013 Committee on Sponsoring Organizations of the Treadway Commission (“COSO”) Integrated Control-Integrated Framework;
• Policy provides an overview of financial accountability, financial management, data integrity, and compliance associated with financial transactions throughout the University. Campuses in turn should develop policies and procedures to ensure these financial transaction accountability principles are met;
• There is a chart of functions and responsibilities for key areas and roles within the campus, and
• There are financial principles that all employees with financial transaction authority redelegated to them should adhere.  

The review materials include a cover letter from AVC Arrivas and redlined and clean copies of the proposal. Each document is bookmarked. A link to the review materials is provided in the resources box.

Faculty who wish to comment are welcome to do so. All comments received by November 19, 2018 will be included in the review materials for Senate Council consideration.