Business and Financial Policies and Procedures
 

Policies and Procedures


This online manual contains the official policies and procedures to follow when conducting University business and financial activities. What's New


1: Business and Financial Administration
Business forms, establish facilities outside Illinois, record retention, report tuition and fee waivers
  12: Property Accounting - Redesigned
Biennial inventory, disposals, loans and transfers, non-cash additions, property labels, real estate leases
Policies
2: Approval of Documents
Contracts and leases, Contract Approval/Routing form, financial document approval, signature authorization
  13: Accounting
Accrual accounting and encumbrances, chart of accounts, internal transfers, stores and services accounts
3: Budget - Redesigned
Budget adjustments, disposition of year-end balances, state and institutional funds, transfer gift funds
Policies
  14: Investments, Banking, and Internal Loans - Redesigned
Farm properties, internal loans, investment income distribution, investment strategies, foreign bank accounts
Policies
4: Payroll - Redesigned
Deductions, overpayments, pay adjustments, report tips, taxable fringe benefit payments, separation payout
Policies
  15: Employee Business Travel
Advances, corporate credit card, moving expenses, per diem, reimbursements, University and personal vehicles
5: Revenue, Income, and Receivables
Cash sales, gift cards, merchant cards, past–due accounts, resale inventory, revenue generating, study abroad
           16: Grants and Research Contracts
Cost transfers, equipment, OMB Circular A-21, supplies, technical testing agreements, unallowable costs
6: Insurance  - Redesigned
Bus charters, minimum insurance for vendors, proof of liability insurance, report a claim, verify insurance
Policies
  17: Consultants, Independent Contractors, and Honoraria
Capital professional services, professional and artistic services, honoraria, independent contractors
7: Purchasing
Cash purchases, emergency purchases, honoraria, P–cards, professional and artistic services, purchase orders
  18: Taxes
Foreign nationals, fringe benefits, human subject payments, sales tax, University sales tax-exemption letter
8: Accounts Payable
Business meals, disbursement vouchers, employee reimbursements, foreign drafts, payments to students, cash advances for international activities
  19: Business Systems Access and Security - Redesigned
Unit head responsibilities for data control, request access to business information, identity theft, Red Flags Rule
Policies
9: Auditing, Internal Control, and Employee Ethics
Gifts to employees, report wrongful conduct, use of University phones, whistleblower protection
  20: ID Cards, UINs, and Data Services - Redesigned
Request i-card services, UINs, card swipes, key fobs, access tokens
Policies
10: Cash Handling - Redesigned
Petty cash funds, change funds, cash handling, returned checks
Policies
  21: Merchant Cards - Redesigned
Setting up to accept credit/debit cards, PCI standards, unit responsibilities
11: Gifts and Endowments
Endowments, expenditure of gift funds, manage donations, process gifts, quasi-endowments, sponsorship gifts