FPS

 
The Office of University Controller recently presented Town Hall sessions to share accomplishments and initiatives with campus staff and hear their thoughts and questions. Each session included a presentation, Q&As, and opportunity for small group discussions on areas of particular interest to individual participants. If you missed the Town Halls - or would like to revisit them - you can run through the materials online. Fall 2012 OUC Town Hall materials →
As we develop the University-wide Accounting Handbook, we are consolidating the current multiple sources of information.
The few remaining Administrative Policy Statements (APS) in the Revenue suite of policies – Revenue Definition and Recognition, Auxiliary and Self-Funded Revenues, and Sponsored Project Revenues – are proposed for rescission/rollback at the beginning of August. In future, the needed information will instead be conveyed through procedural materials: Finance Procedural Statements (FPS) or, strictly speaking, through the chapters of the new Accounting Handbook (see article at left), which replaces the old FPS format.
Many of the Accounting Handbook chapters being published on Aug 6 replace current Finance Procedural Statements (FPS); you will immediately recognize their familiar contents by the chapter title (e.g., Cash Control). However, not all FPSs will be converted to Handbook format. As part of a comprehensive review of policies and procedures, a few FPSs – those that are more technical or instructional in nature – will instead transition to Step-by-Step Guides. Other FPSs – those that are identified as out of date and/or unnecessary – will be eliminated.