Financial Accounting & Controls provides professional accounting and financial services to the campus community and University management for the following fund groups: Current-General, student tuition and fees, special state appropriations, sales and services, other sources, reserves; Agency; Loan; and Plant (including reserves for renewal and replacement). We also are charged with implementing the UC Regents' Controls Initiative on the Berkeley campus.
Our responsibilities include:
FINANCIAL REPORTING
- Distribution of Short Term Investment Pool income and charges to the chancellor and vice chancellors/deans
- Administrative full costing assessment
- Campus fiscal close and audit coordination
- Preparation of campus financial statements and schedules
- Maintenance of BFS account and agency fund values
- Coordination of application of Governmental Accounting Standards Board (GASB) standards
PLANT ACCOUNTING
- Monitoring capital projects; transferring costs from construction in progress to buildings and structures, general improvements, infrastructure, and fixed equipment; and closing completed capital projects
- State capital appropriations claims
- Preparation of loan draws for capital projects
- Capitalization of equipment, software and other capital assets
- Recording campus depreciation on all capital assets
- Maintenance of BFS capital project and plant fund values
RECONCILIATION
- Reconciliation of various balance sheet accounts, including cash, financial control, accounts payable and miscellaneous others; and oversight of the reconciliation of all the other balance sheet accounts reconciled by other central office units.
- Financial intercampus transactions processing
- Special state appropriations claims and reporting
FINANCIAL CONTROLS & ACCOUNTABILITY
- Implementation of the UC Regents' Controls Initiative on the Berkeley campus
