In conjunction with the fiscal close across all locations, University policy requires a signed “Fiscal Close Certification Letter” from those charged with management of financial resources. The letters are intended to enhance the level of integrity in the financial reporting process by demonstrating due diligence by those charged with management of financial resources. This letter is a component of a broader program to enhance the integrity in the fiscal closing process, ensure disclosures are adequate and provide an avenue for all relevant issues known by campus management to be considered by those responsible for signing the overall campus management representation letter.
Accordingly, the following disclosures must be made in writing by those charged with management of financial resources to the Campus Controller as part of the annual fiscal close certification process:
- I am responsible for the establishment and monitoring of the system of the policies, processes and practices of internal control in my department.
- I am responsible for the application of University policies and procedures to ensure the efficient and effective use of resources and to prevent and detect fraud in the areas in which I am involved.
- There are no material transactions or agreements, including the accrual of liabilities that have not been properly recorded in the University’s accounting records. In general, items are considered material, regardless of size, if they involve an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would have been changed or influenced by the omission or misstatement.
- Communications from regulatory agencies, contract and grant agencies, or other entities concerning noncompliance with laws, regulations, applicable guidelines, directives or with an appropriate standard of care have been disclosed in writing to the Associate Vice President – Systemwide Controller.
- All known allegations of fraud or suspected fraud have been disclosed to the appropriate University official or workgroup.
- I understand and agree that I am accountable for ensuring that the areas in which I am involved manage its funds in compliance with laws, regulations, provisions of contract and grant agreements, and donor restrictions that apply to these funds.