Finance

Accounting and Financial Oversight

Budget

Cash Management and Investments

Equipment and Inventory

Procurement and Payment

Travel

Accounting and Financial Oversight
Policy Title	Related Procedures	Related Board of Regents Policies
Agency Funds	Establishment and Use of Agency Funds
Charging of Facilities and Administrative/Indirect Costs to Sponsored Projects	Charging Facilities and Administrative (Indirect) Costs to Sponsored Projects Requesting Facilities and Administrative (Indirect) Cost Reductions Sharing Indirect Cost Recovery Among Collaborating Colleges/Intercollegiate Centers/University-wide Centers
Classifying and Recording Sponsorships for University-Hosted Events/Activities	Handling Sponsorships and Correlating Registrations	Gift Solicitation and Acceptance (PDF)
Documenting Financial/Accounting Transactions
Effort Certification	Effort Certification for Certifiers Documenting Effort Outside of ECRT
Financial Transaction Approvals and Routing	Guidelines for Approvals and Routing of Financial Transactions EFS Approver Expectations and Issue Resolution
Fixed Price Contracts, Including Clinical Trials	Fixed Price and Fixed Fee Contract - Closeouts Clinical Trial (Industry-Sponsored) Research Agreements and Payments
General Accounting	Non-Monetary Financial Transactions University Accounting and Reporting
Managing Billings to and Receivables from External Customers	Creating a Billing Collection and Write-off of Outstanding Receivables Establishing Non-Sponsored Programs for Uncollectible Costs on Sponsored Projects Moving Uncollectible Costs to Non- Sponsored Programs Receiving Payment
Managing Program Income Earned on Sponsored Projects	Handling Program Income at Proposal Time Handling Program Income During the Project Period Handling Program Income at Project Closeout
Managing University Capital Equipment	Capital Equipment Acquisition: Donations Capital Equipment Acquisition: External Transfer Capital Equipment Acquisition: Furnished by a Sponsor Capital Equipment Acquisition: ISO Capital Equipment Purchases Capital Equipment Acquisition: Purchase Capital Equipment Administration: Federal Reporting and Compliance Capital Equipment Administration: Off-Campus Use Capital Equipment Administration: Transfers Capital Equipment Disposals: Donating Capital Equipment Disposals: Selling Capital Equipment Purchased with Sponsored Funds from NSF Grants, NIH Grants or Non-Federal Grants Capital Equipment Disposals: Selling Capital Equipment Purchased with Sponsored Funds (does not include NSF Grants, NIH Grants and Non-Federal Grants) Capital Equipment Disposals: Scrap, Recycle or Cannibalize Capital Equipment Disposals: Selling Capital Equipment Assets to External Entities or Employees Capital Equipment Disposals: Trade-In Capital Equipment Disposals: Transfer to Another Institution
Offering Cost Sharing (including Matching and In-Kind Contributions) on Sponsored Projects	Handling Cost Sharing (including Matching and In-Kind Contributions) After Award Acceptance Including Cost Sharing (including Matching and In-Kind Contributions) in Proposal
Processing Accounting Transactions	Originating Accounting Transactions Adjusting/Correcting Non-Payroll Accounting Transactions on Non-Sponsored Accounts Adjusting/Correcting Non-Payroll Accounting Transactions on Sponsored Projects Adjusting/Correcting Payroll Accounting Transactions on Non-Sponsored Accounts Adjusting/Correcting Payroll Accounting Transactions on Sponsored Projects Financial Recording of Deposits for Use of University Property Non-Monetary Financial Transactions University Accounting and Reporting
Reconciling and Verifying General Ledger Accounts and Other Financial Information	Reviewing and Verifying Revenue, Expenditures, and other Financial Reports Non-Monetary Financial Transactions University Accounting and Reporting
Selling Goods and Services to External Customers	Conducting External Sales Activity Establishing an External Sales Accounting Structure Establishing External Sales Rates Establishing External Sales Agreements (Contracts) Unrelated Business Income Tax Procedures, and Collecting and Remitting Minnesota Sales Tax on External Sales Transactions Selling University-Developed Software and Services	Direct Sales of Goods and Services (PDF)
Selling Goods and Services to University Departments	Obtaining Approval to Conduct Internal Sales Activity Establishing an Internal Sales Accounting Model Establishing Internal Sales Rates Unit Review of Internal Sales Activity Internal Sales Office Review of Internal Sales Activity Capital Equipment Acquisition: ISO Capital Equipment Purchases
Utilizing University of Minnesota Bank Accounts	Obtaining a University of Minnesota Bank Account Discontinuing Use of a University of Minnesota Bank Account Closing an International Bank Account

Budget
Policy Title	Related Procedures	Related Board of Regents Policies
Assessing Units for Institutional Business Systems	Planning and Charging of the Enterprise Assessment
Budget Development and Oversight for Current Non-Sponsored Funds	Budget Oversight for Current Non-Sponsored Funds
Funding and Approvals of Capital Projects	Managing In-Kind Donations on Capital Projects	Board Operations and Agenda Guidelines (PDF) Reservation and Delegation of Authority (PDF)

Cash Management and Investments
Policy Title	Related Procedures	Related Board of Regents Policies
Accepting and Depositing University Revenue	Preparing the Deposit Making a Deposit at a Bursars office Making a Deposit at a Bank Making a Deposit at a Depository Drop Box Making a Deposit Using Courier Pick-up Making a Foreign Currency Check Deposit at a Bursars office Bank Lockbox Deposits EFT Deposits Denominated in US Dollars EFT Deposits Denominated in a Foreign Currency	Internal Control (PDF)
Accepting Revenue Via Payment Cards	Obtaining Approval to Accept Payment Cards Managing Payment Card Accounts Requesting Changes to Payment Card Accounts Closing Payment Card Accounts
Accessing UWide Banking Services
Establishing Change and Miscellaneous Payment Funds
Participating in a University Investment	Selecting an Investment Pool Option Establishing an Investment Account Making a Deposit or Withdrawal of Funds from an Investment Account Changing an Income Distribution Allocation for an Investment Account	Endowment Fund (PDF) Investment of Reserves (PDF)
Utilizing University of Minnesota Bank Accounts	Obtaining a University of Minnesota Bank Account Discontinuing Use of a University of Minnesota Bank Account Closing an International Bank Account

Equipment and Inventory
Policy Title	Related Procedures	Related Board of Regents Policies
Managing University Capital Equipment	Capital Equipment Acquisition: Donations Capital Equipment Acquisition: External Transfer Capital Equipment Acquisition: Furnished by a Sponsor Capital Equipment Acquisition: ISO Capital Equipment Purchases Capital Equipment Acquisition: Purchase Capital Equipment Administration: Federal Reporting and Compliance Capital Equipment Administration: Off-Campus Use Capital Equipment Administration: Transfers Capital Equipment Disposals: Donating Capital Equipment Disposals: Selling Capital Equipment Purchased with Sponsored Funds from NSF Grants, NIH Grants or Non-Federal Grants Capital Equipment Disposals: Selling Capital Equipment Purchased with Sponsored Funds (does not include NSF Grants, NIH Grants and Non-Federal Grants) Capital Equipment Disposals: Scrap, Recycle or Cannibalize Capital Equipment Disposals: Selling Capital Equipment Assets to External Entities or Employees Capital Equipment Disposals: Trade-In Capital Equipment Disposals: Transfer to Another Institution

Procurement and Payment
Policy Title	Related Procedures	Related Board of Regents Policies
Accounts Payable: Paying Non-Payroll Expenses	Depositing Supplier Reimbursement Checks Making Payments Using Single Payment Supplier Numbers
Business Expenses	Applying for Expense Reimbursement in the Enterprise Financial System (EFS) Applying for Expense Reimbursement in Chrome River
Cash Advances	Requesting and Reconciling a Cash Advance
Managing University Records and Information	Retention of University Records Destruction of University Records
Paying Human Subjects and Maintaining Confidentiality and 1099 Reporting	Paying Human Subjects Directly Making Payments to a Third Party Making Payments Using Single Payment Supplier Numbers Making Payments Using Prepaid Debit Cards	Research Involving Human Participants (PDF)
Purchasing a Professional Service	Purchasing a Professional Service Establishing a Basis for Supplier Selection and Price, and Assuring a Reasonable Price Administering Contracts for the Purchase of Goods and Services Requesting a New Supplier or Changing an Existing Supplier	Purchasing (PDF)
Purchasing Goods and Services	Purchasing Goods and Services Requesting a New Supplier or Changing an Existing Supplier	Purchasing (PDF)
Using the University Procurement Card	Applying for the Procurement Card Verification and Approval of Procurement Card Activity Change Procurement Card Status Dispute Process

Travel
Policy Title	Related Procedures	Related Board of Regents Policies
Cash Advances	Requesting and Reconciling a Cash Advance
Relocating Employees
Traveling on University Business	Applying for Expense Reimbursement in the Enterprise Financial System (EFS) Registering International Travel (Faculty and Staff) Applying for Expense Reimbursement in Chrome River
Using the University Travel Card	Applying for the University Travel Card Reconciliation and Approval of Travel Card Activity Change in University Travel Card Status Dispute Process for University Travel Cards Making University Tax Exempt Purchases
Using Vehicles for University Business	Renting or Leasing a Vehicle for University Business Managing Permanently Assigned University Vehicles Reporting Accidents involving University Vehicles Use of Personal Vehicles for University Business

Miscellaneous
Policy Title	Related Procedures	Related Board of Regents Policies
Accepting and Managing Gifts	Processing Gifts at the Foundations Requesting Disbursements from the Foundations	Gift Solicitation and Acceptance (PDF)
Alcoholic Beverage Sales and Service, and Venue Liquor Licensing	Applying for Alcohol License Purchase and Handling of Alcoholic Beverages at Licensed Venues	Alcoholic Beverages on Campus (PDF)
Hospitality and Entertainment of Non-Employees	Applying for Expense Reimbursement in the Enterprise Financial System (EFS) Applying for Expense Reimbursement in Chrome River
Property and Liability Insurance	Reporting Accidents and Claims

University Policy Program
140 McNamara Alumni Center
Minneapolis, MN 55455
Phone: 612-624-8081
E-mail: policy@umn.edu

Have a good faith belief there has been a violation of University policy? Please report concerns to your supervisor, the appropriate University administrator to investigate the matter, or submit a report to UReport.