| Fiscal Operations Policy & Procedures Manual |
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All internal income is processed via Journal Voucher. It is not an exchange of physical cash and does not go through OSU Cashiers.
Interest is earned on funds in the following accounts: Federal Perkins Student Loan funds, Student Activities, Inventions, Donations, Endowments, Gifts, Building Repair and Equipment Replacement Reserves (Auxiliary Enterprises only), Auxiliary Funds (student fee funded auxiliaries only) and Deposit Trusts. Interest is not earned on money that comes from the State General Fund.
The interest earnings are paid by the Oregon State Treasury to OUS. An analyst at the State Treasury determines the rate of interest by tracking the investments of cash and the returns the Treasury is receiving on those investments.
For the distributions made on a quarterly basis, the schedule is listed below:
The interest distributed on these interest bearing funds is a calculation of the money that is received, divided by the average balance in all OUS Donation funds. The average cash balance for the quarter is determined by taking the cash balance at the end of each month, adding them together and then dividing by three. In this definition, the end of the month is the date the period closes. Revenue must be received and posted by the last calendar working day of the month (i.e. 28th-31st), but expense transactions can post against the fund until the period is closed with the previous month’s transaction date.
Reference: ORS 351.590; ORS 351.615.
An endowment is an amount of money given to the university with a stipulation that the funds are invested and the principle amount is not spent. OSU endowments are managed by the Oregon University System and invested. The earnings are posted monthly to an endowment earnings fund which is held separate from the endowment principle fund. Only the earnings fund can be expended.
An OSU employee may participate in a workshop sponsored by another department where a registration fee is required. The transaction is processed via journal voucher. Usually the workshop receiving index is an 05xxxx Workshop Fund. Conference/workshop Internal Sales (09381) is credited and training (29040) or Conference Registration (28601) is debited.
If a department uses an auditron, logbook, or other device for monitoring the number of copies made by various entities within the department, they may charge out the cost to each user. The number of copies billed out must be auditable. No less than once per month, a journal voucher should be prepared to credit 79107 Duplicating and Copying Reimbursement and debit 24602 Duplicating and Photocopying. The fee charged must be consistent and the same for all users. The fee should be based on the total cost of producing the copies. This includes the rental or maintenance agreement cost of the equipment, the paper, and the supplies used in the copying process.
The Oregon Administrative Rules applicable to higher education grant each institution the authority to establish fees and charges for certain services and materials provided by the institution (OAR 580-040-0010). The OAR allows fees and charges to be established at levels that assure recovery of the cost of providing the service and materials. The University’s internal fee book is the source of fees charged to departments within the University. Examples of such fees would be Printing and Mailing, Transportation Services (Motor Pool), Facilities Services furniture rental fees, etc. See the Internal Sales Reimbursements definition for the appropriate account code to use for these internal transactions.
Parking on the Oregon State University’s Corvallis campus requires a permit. Parking Services is an auxiliary enterprise and sells permits for parking to faculty, staff and students as individuals. Income from parking permits and citations are deposited into separate accounts which form the operating funds for Parking Services. If a permit is refunded, the refund comes from the income account for permits. The same applies to citations. Once a month, outstanding Accounts Receivable (A/R) citation accounts are sent to Collections. Reference: OAR 576-30-0030, OAR 580-040-0025, ORS 352.360.
Parking permits at the employees’ workplace are that individual’s responsibility. Temporary permits for those employees whose duty station is away from the Corvallis campus, but who must periodically travel to campus for university business may be paid for with university (non-grant) funds. This cost is allowable as a university expense because the employee is in travel status. Permits for spaces for university service vehicles may also be processed in this manner.
The Surplus Property Unit within the Department of Business Services handles sales of surplus furniture, equipment, and supplies. Internal income comes from sales to OSU departments or other OUS institutions where no cash is received.
As a Service Center, Surplus Property takes a percentage of the sales for their services. The remainder of the proceeds is forwarded to OSU departments. All disbursement of sale proceeds takes place at the end of each month during the month-end closing process. When the sale is an internal sale within OSU, the selling unit receives a service credit (internal sales reimbursement) 79350 “Resale of Equipment Reimbursement”, rather than a distribution of revenue/cash.
OSU Catering is a division of University Housing and Dining Services and provides catering services to campus departments. The receiving department will be charged via journal voucher and Dining Services will credit their operation using an 09xxxx internal sales account code.
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