The mission of the Restricted Funds Accounting Department is to provide contract/grant and financial aid management to ensure sponsored programs maintain fiscal compliance according to contract and government guidelines, while committing to the scope of services as contracted.
Provide direct service to department and agency administration, project directors and internal and external auditor's.
Maintain an accounting system which complies with internal, sponsoring agency and goverment regulations and policies. A department number and budget is established in Datatel when an executed agreement is received and a request is submitted to this department. Restricted fund financial transactions are determined to be compliant according to contract provisions and policy approved by this department.
Prepare accurate and timely reports to sponsoring agencies and internal personnel such as cash flow, board statements and accrual reports.
Prepare and submit accurate and timely billings as contracted. This is coordinated with Project Director when project status reports must accompany an agency invoice.
Process payments received via check or ACH and maintain the restricted funds balance sheet.
Closing of Restricted Funds/Projects:
Prepare year-end financial statements and closing entries to the general ledger. Prepare and submit final close-out reports as required by sponsoring agencies. Prepare year-end A-133 audit report statements.