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OUS Fiscal Policy Manual
Summary of Changes to OUS Fiscal Policy Manual

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Summary of Changes to OUS Fiscal Policy Manual
FY 2005

 

ACCOUNTING AND FINANCIAL REPORTING

Account Codes (FASOM Section 2)

07/01/04 - Account codes are updated as needed following the procedures outlined in 05.400 - Chart of Account Administration (renumbered 05.110 10/30/06).

05.321 - Compensated Absences Accounting Policy

12/21/04 - This policy results from the need to have a consistent and uniform method for calculating and accounting for compensated absences liability.  Reviews were performed by Directors of Business Affairs.  The policy was approved by the Controller on December 21, 2004.

05.712 Designated Operations Fund Balances

03/03/05 - This policy was developed in response to a request from the OUS Board to provide fund balance policies related to self support activities. It has been reviewed by Directors of Business Affairs, and was approved by the Vice Chancellor for Finance and Administration on March 3, 2005.

FIXED ASSETS ADMINISTRATION

55.100 - Fixed Assets Accounting Policies

11/03/04 - The ORS reference in section .200.E and F was corrected.

10/06/04 - The Asset Types by Asset Account Code table (Section .751 of the appendix) was updated with expanded asset type codes for building componentization. This update was approved by the Controller on October 6, 2004.

08/03/04 - A revision was made to Note l of the Depreciation Policies by Account Code table (section .721) to clarify the depreciation start date on new real property records.  This revision was a result of decisions made at the June 16, 2004, Closing of the Books meeting. Reviews were performed by Directors of Business Affairs, Facilities Directors, and Facilities Budget Officers.  The policy was approved by the Controller on August 3, 2004.

07/02/04 - New asset type codes for building components were added (Section .812 of policy) to allow for the implementation of building component depreciation.  Reviews were performed by Directors of Business Affairs and Facilities Directors.  The policy was approved by the Controller on July 2, 2004.

55.110 - Fixed Assets Building Component Depreciation

06/14/05 - Under section .130, the effective date was corrected to reflect that this policy was implemented for Fiscal Year 2004.

07/02/04 -  This policy resulted from implementing building component depreciation.  Reviews were performed by the committee that worked on the building component depreciation project, Directors of Business Affairs, and Facilities Directors. The policy was approved by the Controller on July 2, 2004, with an effective date of July 2, 2004.  

TAXATION

90.100 - Use of Institutional Tax Identification Numbers

09/24/04 - Tax ID numbers were added to section .170, Policy Provisions. This policy has been in effect for some time, with "TBA" (To Be Announced) in place of tax ID numbers.

A statement regarding Oregon University System's tax exempt status was also added to the appendix of this policy.

TRAVEL

Transportation (FASOM Section 11.03)

02/02/05 - In-state and out-of-state lodging reimbursement rates were updated to reflect changes made to the federal rates, as indicated in IRS Publication 1542.  This update also affects moving expense lodging rates, and includes changes made to some cities on the OUS Out-of-state High-localities Table.

01/01/05 - The mileage reimbursement rate for private vehicles was increased from 37.5 cents per mile to 40.5 cents per mile to reflect changes made to the federal rates. 

11/04/04 - Vehicle Rental section 11.03 D, was updated to allow for universities to establish their own standard for renting vehicles other than compact or economy. This update was approved at the Directors of Business Affairs meeting on October 14, 2004.

11/01/04 - Travel reimbursement rates were updated to reflect changes made to the federal rates, specifically lodging rates and the high localities table.

08/02/04 - Section D[1] was updated as a result of the new state rental car contract.  The State of Oregon entered into a new contract with Enterprise Rent-A-Car, effective August 1, 2004. 

TREASURY MANAGEMENT

105.001 - Roles and Responsibilities

12/07/04 - Language was added delegating high-level roles and responsibilities.  Reviews were performed by Directors of Business Affairs and Administrative Council.  The policy was approved by the Controller on December 7, 2004.

105.100 - Treasury Management Operations

01/24/05 - Reviews of this new policy were performed by Directors of Business Affairs and the Administrative Council.  The policy was approved by the Controller on January 20, 2005.  This policy supersedes FASOM Section 13.07: Purchasing -- Cash Management.

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