Financial Accounting and Controls

WELCOME TO FINANCIAL ACCOUNTING AND CONTROLS

Accounting and Controls home Fiscal Close Information Financial Controls Year-End Accrual Procedures The Use of Spreadsheets SAS 115 

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