Georgetown University

Financial Affairs

December 17, 2003

#5 Updated February 10, 2004

#1 Revised and #6 Added August 23, 2006

MEMORANDUM

To:                   Department Heads and Administrators

From:               Lennie Carter, Associate Vice President, Administrative Services

                        Ray Carter, Associate Vice President and Controller

Subject:           Financial Affairs Updates

Based on recent audit findings, the following procedures are now in effect.  The complete listing of Financial Affairs policies is located at http://financialaffairs.georgetown.edu/policytc.html.  A schedule of training sessions is located at http://www10.georgetown.edu/hr/training_development/calendar.cfm.

#1 – Non-depreciable movable equipment:  While the University does not depreciate and track non-depreciable equipment, departmental administrators must track non-depreciable moveable equipment in a database.  The database should be reviewed on a regular basis by the department head, or designee.  The database, including the location and the user of the equipment, may be reviewed on an ad hoc basis by Property Accounting or Internal Audit. Non-depreciable equipment to track includes computers and audiovisual systems (to include televisions and stereo systems).

Account codes to be used for purchasing non-depreciable computer and audiovisual equipment:

a. 71511 - Computer Equipment <$2,500

b. 71526 Computer Equipment - $2,500 to $4,999

c. 71518 - Audiovisual Equipment <$2,500

d. 71532 - Audiovisual Equipment - $2,500 to $4,999.

#2:  Cost Center Guidelines:  Accounts Payable staff (Payroll Services for employee reimbursements) review all expenditures to ensure that the request for expenditure is properly documented (http://financialaffairs.georgetown.edu/policytc.htm and click on Reimbursement Policy and go to Statement for required documentation).  Documents that are not properly documented or lack proper signatures will be returned to the requestor, thus delaying the payment.  Departmental administrators should determine the suitability of the expenditure by their signature to ensure that it shows a business purpose and adheres to institutional guidelines.  Departmental administrators should consult with the respective CFO or departmental chair if he or she is unsure of the purpose.  All equipment, depreciable and non-depreciable, purchased with University funds is the property of the University unless a sponsored award clearly states otherwise.

#3:   CSR Training – CSR training sessions are conducted on a regular basis through Financial Affairs’ Financial Management Systems.  The schedule is available by clicking on http://data.georgetown.edu/hr/training_development/index.html.  It is the responsibility of senior management to ensure that principal investigators, department administrators, and other individuals that handle University funds take the appropriate classes.

#4:   Support Documentation for Travel Reimbursements: Accounts Payable staff (Payroll Services for employee reimbursements) review all travel reimbursements to ensure that the requisite documentation and approval are included to support the expenditure request (http://financialaffairs.georgetown.edu/policytc.htm and click on Reimbursements - Business Travel and go to Documentation Required).  Documents that are not properly documented or lack proper signatures will be returned to the requestor, thus delaying the payment. Departments are encouraged to use the University’s preferred travel vendor, West End Travel, as direct billing has been established, along with other benefits, to minimize travel reimbursements and provide a strong audit trail.

#5:   Institution Funds: The funds in the University cost centers, regardless of sources and types of funds, are institutional funds and owned by Georgetown University.  Any relinquishment must have the approval of the EVP or his designee

#6    Conference Registration Documentation - Employee reimbursements submitted to Payroll for conferences, seminars and professional meetings in general, must contain a copy of the official registration form indicating the dates of the event.