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Business and Financial Policies and Procedures

Fund Management

Establishing Banner Funds

Units are required to establish a Banner general ledger fund for each distinct service activity. One or more operating ledger program code(s) and/or activity code(s) may be established under each general ledger fund.

Units request a storeroom or service fund by submitting to the Office of Business and Financial Services, University Accounting and Financial Reporting the Banner Fund, Program, Index Code Request Form.

Fund Administration

Service Center Managers (or those holding similar positions) are responsible for:

  • Working knowledge of service activity policies, regulations, and procedures necessary to run a service activity operation and compile compliant rate calculations.
  • Exercising sound business practices necessary to run a breakeven service activity operation.
  • Preparation of an annual budget
  • Preparation of year-end fact sheet Fact Sheet Requirements
  • Calculation of user fees or markups at the operating ledger (OL) level and justification for interim rate adjustments, if any
  • Maintenance of current Banner Fixed Assets records of equipment used in service activities, in accordance with 12 Property Accounting
  • Review and reconciliation of monthly Banner financial statements
  • Physical inventory of merchandise for resale and any adjusting entries made to Banner in accordance with 5 Receivables
  • Timely billings are recommended on a monthly basis, with adequate documentation
  • Maintenance of records (See the Documentation Requirements section of this policy)

Last Updated: May 18, 2018

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