Financial Accounting and Controls

WELCOME TO FINANCIAL ACCOUNTING AND CONTROLS

Accounting and Controls home Fiscal Close Information Financial Controls Year-End Accrual Procedures SAS 115 Chart of Accounts

Financial Accounting and 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