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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 2006

 

ACCOUNTING & FINANCIAL REPORTING

Account Codes (FASOM Section 2)

02/02/06 - The OUS Fiscal Policy Manual (FPM) web page has been converted from an HTML static page to a web page supported by a database. Users may now more easily validate FPM account code information against the same standard set of account codes used in the FIS production environment. Also, the new web page is fully searchable.

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

05.713 - Service Center Working Capital

07/15/05 - Significant elements of this policy have been in place on some campuses for many years; however, this new policy was approved by the Controller on July 11, 2005, and is effective July 1, 2005.

05.780 - Accounting for Unexpended Plant Funds

06/22/06 - Updates were made to section .820, Capital Support Assessment. Updates are effective July 1, 2006.

11/30/05 - Section .820, Capital Support Assessment -- Additional text was added to reflect current practice.

11/11/05 - Section .820, Capital Support Assessment -- Text was added to reflect current practice.

07/15/05 - This policy is the result of a workgroup established in October 2004 to help ease and better document the accounting for unexpended plant funds. This policy was approved by the Controller on July 11, 2005, and is effective July 1, 2005.

05.271 - Inter-institutional and Inter-fund Loans

07/07/05 - The Board reviewed this policy on February 5, 2005, and requested changes in the interest section. This policy incorporates the Board's recommendations regarding interest, and was approved by the Controller on July 7, 2005. Retroactive application of this policy is encouraged.

AUXILIARY ENTERPRISE & OTHER ACTIVITIES

15.105 - Auxiliary Enterprise Indirect Cost Allocation

12/20/05 - Following Auxiliaries Work Group development, and review by institutional Vice Presidents, Directors of Business Affairs, and Budget Officers, this policy was approved by the Controller on this date, to be phased in and fully implemented no later than July 1, 2007, to allow for planning and rate adjustments.

DEBT FINANCING & MANAGEMENT

35.200 - Debt Management

01/23/06 - This policy was reviewed by the Administrative Council, and was approved by the Board on January 6, 2006, with an effective date of January 7, 2006.

FIXED ASSETS ADMINISTRATION

55.100 - Fixed Assets Accounting Policies

03/13/06 - Section .220, Disposal of Capital Assets, has been corrected to be consistent with OAR 580-040-0300. This correction was approved by the Controller on March 10, 2006.

01/23/06 - Section .714, Accounting for Personal Property and Real Property Obtained by Gift, was added to the Appendix. This update was reviewed by Directors of Business Affairs and Fixed Assets Accountants, and the Controller approved this update January 23, 2006.

55.110 - Fixed Assets Building Component Depreciation Policy

01/23/06 - Significant changes to the building component depreciation methodology, the building component descriptions, and the building component service lives took place, with an effective date of July 1, 2004 for OSU, and July 1, 2005 for PSU and UO. Reviews of these changes were performed by the Directors of Business Affairs. The Controller approved this policy on January 23, 2006.

PAYROLL

Compensation -- Fringe Benefits -- Moving Expenses

01/09/06 - Effective January 1, 2006, a change was made to the non-taxable portion of the standard mileage rate for moving expenses, from 15 cents per mile to 18 cents per mile.

10/31/05 - Reimbursement rates for Lodging and Meals & Incidental Expenses have been changed, effective November 1, 2005, to reflect changes made to the federal rates.

09/20/05 - The mileage reimbursement rate for private vehicles was increased from 40.5 cents per mile to 48.5 cents per mile, effective September 1, 2005, to reflect changes made to the federal rates.

PROCUREMENT

Independent Contractor - FASOM 13.06, sections C [4] and F [5]

05/23/06 - The aforementioned sections have been updated to reflect current practice.

Purchasing & Accounts Payable - Memberships and Dues(FASOM 13.01 M)

04/19/06 - The reference to one specific account code to be used for recording membership fees and dues has been removed from this policy as there are several account codes to choose from for recording membership fees and dues.

Purchasing & Accounts Payable - Employee Recognition Awards (FASOM 13.01 E [3])

07/28/05 - As discussed at the July 14th Administrative Council meeting and in response to a state audit recommendation, the Employee Recognition Awards section of the FASOM Purchasing and Accounts Payable policy has been changed. The effective date of these changes is October 1, 2005.

TRAVEL

Federal Out-of-State High-Cost Localities Table

02/02/06 - When the Federal out-of-state high-cost localities table was updated for changes effective November 1, 2005, changes to two cities were inadvertently omitted. Seattle, WA and Napa, CA became high-cost cities for the entire year (whereas they had previously been high-cost cities for the period 5/1 - 10/31).

Travel -- Transportation (FASOM Section 11.03)

01/09/06 - A wording revision was made to Section D, Vehicle Rental, to clarify policy language.

Compensation -- Fringe Benefits -- Moving Expenses
Travel -- Transportation (FASOM Section 11.03)
Travel -- Summary of Travel Reimbursement Rates

01/03/06 - The private vehicle mileage reimbursement rate has been changed from 48.5 cents per mile to 44.5 cents per mile, effective January 1, 2006, to mirror IRS rates.

Travel -- Meals & Incidental Expenses, Lodging, and Miscellaneous Expenses (FASOM Section 11.02)
Transportation (FASOM Section 11.03)

Summary of Travel Reimbursement Rates
Federal Out-of-State High-Localities Table

10/31/05 - Reimbursement rates for Lodging and Meals & Incidental Expenses have been changed, effective November 1, 2005, to reflect changes made to the federal rates. The Federal Out-of-state High-localities table has also been updated.

09/20/05 - The mileage reimbursement rate for private vehicles was increased from 40.5 cents per mile to 48.5 cents per mile, effective September 1, 2005, to reflect changes made to the federal rates.

 

Last Updated: 06/22/06
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