Responsible Unit: Finance | Executive lead: CFO
Created: 1/2008 | Reviewed/Revised: 5/2011; 6/2015/ 1/27/2023, 6/2024 | Effective: 7/2024
Compliance: NWCCU 2.E.1
Approving Body: BOT | Classification: Institution-wide
Policy:
This policy outlines the responsibility of the finance staff to ensure proper recording of financial transactions and to verify the parties responsible for both internal and external reporting.
Monthly financial closing and reports will be prepared on a consistent and standard timeline. Any variations to this timeline or to other financial close and reporting procedures must be reviewed for validity and approved by the CFO.
Financial reports are prepared in conformance with GAAP unless other methods or requirements are explicitly communicated to the user (i.e. special report format for external party, etc.). Any alternative accounting treatments are communicated clearly to the leadership team and the Finance Committee when applicable.
Definitions:
N/A
Procedure:
Financial Close and Reporting Procedures
Related Documents:
N/A
Policy Resources
- Policy Development and Approval Training
- Establishing and Creating University Policies and Procedures (Policy)
- Policy Development & Approval Procedure
- Policy Development & Approval Diagram
- Policy Justification Form
- Policy Template (password protected)
- Procedure Resources (password protected)
- PNWU Alumni Association Bylaws
- COM Bylaws
- PNWU Bylaws
For assistance with policies and procedures contact:
Lori Fulton
lfulton@pnwu.edu