SUBJECT: FINANCIAL REPORTING    

APPLICABILITY: TOTAL UNIVERSITY

Financial Reporting   
Financial reports shall be prepared in conformity with the provisions of the General Appropriations Act, Article IX, and as required by TEX. GOV’T CODE ANN §2101.011. This code designates the Comptroller of Public Accounts as the official to prescribe uniform accounting and reporting procedures that each state agency, including colleges and universities, shall use in the preparation of the information requested under Section 2101.011, Government Code.   

Accounting Records  
The financial accounts of the University shall be kept in accordance with the Texas Comptroller of Public Accounts' Annual Financial Reporting requirements.  Financial reporting for the state is based on all GASB pronouncements, as well as FASB Statements and Interpretations, APB Opinions, and Accounting Research Bulletins issued on or before November 30, 1989 that do not conflict with or contradict GASB pronouncements. FASB pronouncements issued after November 30, 1989 are not followed in the preparation of financial statements.

Interdepartmental Orders (IDO) and Interdepartmental Transfers (IDT)
Interdepartmental orders and interdepartmental transfers are used to account for orders and charges for goods and services provided by one department to another department within the University. This system should be used whenever possible by all accounts regardless of the funding source. No cash transaction is involved. Charges to Education and General Accounts may be made by another fund only in accordance with appropriate purchasing guidelines. The Print Shop, Office Supply Center, Physical Plant Stores, Center for Instructional Services, Media Library, Computing Center, Bookbindery, and Service Center are examples of departments which provide goods and services directly to other University departments. Documentation of charges must be retained by the provider department for a minimum of 5 years in accordance with the State of Texas Retention Schedule, UNT Policy 10.10.1. 

Unclaimed Property   
Any unclaimed checks written against any university bank account that are three (3) years old will be written off of the University's books and the funds will be deposited with the State Comptroller as Unclaimed Property. These funds then become the property of the state; therefore, a claim from the original owner of the check must be made with the State Comptroller in order to receive the funds.  Documentation must be retained by Financial Reporting  in accordance with the State of Texas Retention Schedule, UNT Policy 10.10.1.