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TopicIssue/RiskDescriptionReport/QueryLooking For:Frequency
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Revenues, Accepting and Processing Revenues http://audit.umn.edu/Common-Revenue.htmlO&M RevenuesCheck O&M at college level for revenues that are not tuition or state appropriation. Audit does not want to see other revenue accounts used in O&M fund.Run Account Budget Status for Current Non-Sponsored FundsGift funding, External Sales, etc. in O&M funds.Annually
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All Revenues by FundCheck all funds to make certain revenue codes used are appropriate for fund type.Run Account Budget Status for Current Non-Sponsored FundsGifts deposited to External Sales accounts, etc.Annually
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Internal and External Sales Billing and AccountingReconciliation procedure in place to ensure all customers are billed. A reconciliation must exist that compares the recharge center system of record to ensure that external and internal customers have been billed. This system should verify that the billing specialist has entered all bills appropriately. Process must be in place to check this at least monthly.Run Account Budget Status for Current Non-Sponsored Funds, find the account and drill through to the detail to reconcile. This could also be done by querying data from EFS Billing module and comparing with a departmental source system or source records.All bills submitted should have been entered/recorded in the receiving accounts.Ongoing process
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