Financial Policy Manual

CATEGORIES OF POLICIES

• 1000 Accounting
• 1200 Procurement/Disbursements
• 1300 Capital Planning and Budget Process
• 1400 Financial Reporting
• 1500 Cash
• 1600 Investments
• 1700 Loans and Receivables
• 1800 Debt Financing
• 1900 Tuition, Fees, and Other Student Charges
• 2000 Sales and Services
• 2100 Sponsored Programs
• 2300 Gifts and Private Grants
• 2400 Payroll
• 2500 Student Financial Assistance
• 2700 Miscellaneous

Note: Updates and additions to Financial Policies are made on a continuing basis. Please see the "Accounting Announcements" section of AdmiNET for the most recent changes.

This online Financial Policy Manual contains policies related to the financial operation of the University of Chicago. The Manual is published through the Office of the Vice President and Chief Financial Officer which is responsible for the financial operation and fiscal control of the University. This Manual is not to be distributed without the prior approval of the Vice President and Chief Financial Officer.

The policy statements contained herein have been assembled from several sources, as follows:

1) actions of the Trustees related to their financial authority; 2) policy statements incorporated from previously issued memorandums and 3) the codification of current practices.

The Manual is directed to those administrators who have responsibility for the financial operation of the University and is intended to serve as a reference guide. The policies contained herein delineate responsibility, authority and accountability. It is the responsibility of all financial administrators to familiarize themselves with these policies in order to provide proper guidance to all University employees. It is the responsibility of every University employee to follow stated policy.

The Financial Policy Manual is divided into 14 active subject areas, each of which contains (or will in the future contain) a group of related policies. For example, all policies related to procurement/disbursements

Policy statements are sequenced by section and identified by a four digit numeric code. The first two digits identify the subject area, while the third and fourth digits indicate the specific policy within the subject area, e.g., policy number 1210 identifies the tenth policy of subject area 12, PROCUREMENT/DISBURSEMENTS.

Each policy statement is presented in a standardized format. The first section identifies the policy number and policy title. The next section of each page indicates the subject area, responsible office, the office or group having the authority to approve changes to the policy, issue date, and revision date. This is followed by the actual policy information.

The responsible office has the responsibility to develop, promulgate, monitor and revise the applicable policy. When additional guidance or interpretation of a specific policy is required, that office should be consulted. The Office of the Vice President and Chief Financial Officer or the Comptroller's Office should be consulted when an issue arises which is not addressed by the Financial Policy Manual.