“Financial stewardship is defined as the responsibility for managing University financial resources wisely, executing these duties with integrity and ethical conduct. These financial resources include time, money, people and property. When University employees manage public resources in an efficient, economical and ethical manner, the result will be better achievement of the University's overall missions of teaching, research and public service. Financial stewardship includes the responsibility for establishing and monitoring the system of internal control.”

Excerpted from UCOP Policy BFB BUS-10 Principles of Accountability with Respect to Financial Transactions