UTMB HANDBOOK OF OPERATING PROCEDURES

Section 4 Fiscal Policies Subject 4.4 Accounting, General Policy 4.4.5 Departmental Ledger Sheets

4/1/90 - Effective - Revised - Reviewed - Author

Departmental Ledger Sheets

Departmental Responsibilities

The departmental ledger sheet is the official fiscal record for each account as of the close of the monthly accounting period. Each monthly ledger sheet reflects all transactions made in an account from the beginning of the fiscal year to the date of the statement. The Regents’ Rules states, “Each person directly responsible for a department or other administrative unit (hereinafter called “department head”) shall keep an account of funds and property for which he is responsible, as detailed as necessary to supplement the business office records,” and “...will compare their records with those of the business office and report any differences promptly to the business office.”

Distribution of Ledger Sheets

Ledger sheets are distributed by account number to individuals designated on the department’s Signature Authorization Card or to the department head/chairman. Ledger sheets are distributed immediately after the close of the preceding month’s business.

Reconciliation of Ledger Sheets

Ledger sheets should be reconciled to internal departmental records promptly after receipt.

Reporting Discrepancies/ Corrections

Discrepancies requiring correction should be directed to the appropriate office (Accounting, MSRDP, or Sponsored Research) via a memorandum containing: • Reference number of the ledger sheet • Account number(s) affected • Amount to be corrected • Reasons for the correction • Signature of the person authorized to sign for the account on the Signature Authorization Card

Transfer of Expenditures

The purpose of transferring expenditures is to properly allocate an expense. When transfers are made into a restrictive Fund Group account, the original expenditure must comply with the restrictions and guidelines governing the new account. Transfer of expenses (except salary expenditures) are made via memorandum to the appropriate business area, i.e., Accounting, MSRDP, or Sponsored Research, with the following information. • Account number from which the expense will be removed • Account number to be charged • Explanation for the request • Signature of the person authorized to sign for the account on the Signature Authorization Card. Transfers of salary expenditures are made using the P02 Form submitted to the Budget Office via the Department of Human Resources.

References

The Regents’ Rules, Part Two, Chapter II, Section 2