Updated Directives and Procedures – Mission/Organization; Auxiliaries; Asset Management; Cash and Cash Collections; Purchasing

Published: January 9th, 2006

Category: Memos

Michael McKee, University Controller

I am pleased to announce the release of additional new or updated sections of our Finance and Accounting Directives and Procedures completed over the holiday break. These updated sections are as follows:

1.4.1 Mission, Organization, and Key Contacts
1.4.4 Auxiliaries
1.4.9 Asset Management
1.4.11 Cash, Collections, Receivables, and Investments
1.4.12 Purchasing

The web site that these Directive and Procedures can be located is as follows: http://fa.ufl.edu/uco/handbook/handbook.asp?doc=1.4

While many of the changes are the result of devolution and the myUFL implementation, others reflect changes in the organization (creation of the Treasury Management and Asset Management departments), expanded definitions, added integrated web links to MyUFL procedures and instruction guides, updated contact information and in general our attempt to make the directives and procedures more user friendly. Additionally, we have expanded the internal control information in the Cash and Asset Management sections which discusses standard internal controls that university departments should have in place to insure proper separation of duties and adequate controls over cash collections and security of University property. I would encourage you to have appropriate members of your staff review the appropriate sections of these updated directives and procedures relating to their job responsibilities.

The financial directives and procedures will continue to be enhanced to reflect current requirements and best practices. Comments and suggestions on how to make these a more effective tool to departmental users are always welcome. If you have any questions concerning any of these directives please call the contact number contained in the respective section of the directives and procedures or you may contact Larry Reese or me at 392-1321.

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