Responsibilities

The Vice President, Chief Financial Officer, and Comptroller of the University of Illinois System has delegated authority to the Senior Associate Vice President for Business and Finance to establish the policies and procedures related accounting and financial reporting. The Vice President, Chief Financial Officer, and Comptroller has delegated authority to the Assistant Vice President and Controller to define responsibilities for the general accounting function and processes, in collaboration with university information technology units, business systems to accomplish this function.

The Vice President, Chief Financial Officer, and Comptroller has further delegated to the Assistant Vice President and Controller the responsibility for day-to-day operations of this general accounting function and related processing.

The Assistant Vice President and Controller is responsible for the day-to-day operations of the general accounting function and for the processing of transactions through the general ledger system. These responsibilities include developing and maintaining University-wide accounting processes and computer systems, and providing general supervision of these operations.

System units with self-supporting activities are responsible to ensure that self-supporting activities follow the special procedures that meet government requirements and the system’s rules and regulations concerning its revenue-generating activities. Units must assign business administrators to oversee their self-supporting operations.

Business administrators of self-supporting funds are responsible for the prudent fiscal operations of the self-supporting fund, including compliance with all federal, state, and system policies and requirements for administering system funds in general and self-supporting funds in particular. Business administrators of these funds must pay particular attention to system policies that pertain to approvals for self-supporting activities, monitoring transactions and balances in their self-supporting FOAPALs, setting rates and maintaining related data, reporting financial activity for tax and financial statement purposes, and adhering to unique requirements established for specific kinds of self-supporting activities.

Last Updated: June 5, 2019 | Approved: Senior Associate Vice President for Business and Finance | Effective: January 2013