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FPM 2.2 Account Management

Effective Date:
September 5, 2012
Last Revised Date:
July 2, 2026
Responsible Unit(s):
Finance & Budget
Responsible Unit Email(s):
FNSV-Financial-Management@arizona.edu
Manual:
Financial Policies Manual
Status:
Active

Purpose and Summary

The purpose of this policy is to identify Account roles and responsibilities and provide general guidelines for establishing, modifying, monitoring, and closing UAccess Financials Accounts.

Scope

This policy applies to all University locations and units, including all University extensions, satellite locations, and off-site campus units, both domestic and international.

Definitions

  1. Account: An individual pot of money that is established for a specific purpose, with primary responsibility for its activity assigned by Account Roles. The Accounts in UAccess Financials are 7-digit numbers that are approved by Finance and Budget. Similar types of Accounts will all be in the same range of numbers. See Table 1 in FPM 2.1 Structure of the Accounting System.
  2. Account Delegate: A person authorized to approve on behalf of the Fiscal Officer. Delegations are approved by the Fiscal Officer and can be primary or secondary. Delegates assume the same responsibilities as the Fiscal Officer for approving transactions. Delegation is assigned by the Account Delegate Electronic Document (eDoc) or Account Delegate Global eDoc. Student employees are not eligible to serve as Account Delegates.
  3. Account Roles: Include Fiscal Officer, Account Supervisor and Account Manager. These are found within the Account Responsibility section of an Account inquiry.
    1. Fiscal Officer: An individual designated by the Account Manager who is responsible for the fiscal management of the Account. The Fiscal Officer ensures sufficient budget, spending is in accordance with Account purpose, and reviews and reconciles the Account monthly. Fiscal Officers are the business managers of the department.
    2. Account Supervisor: The individual who ensures that funds are spent and managed according to the goals, objectives and mission of the organization, that the funds are being spent according to a budgeted plan, and that the allocation of expenditures is appropriate to the function identified for the Account. It is assumed that the Account Supervisor will be the leader of the organization in which the Account resides. Account Supervisors are the Deans, VPs, Directors, Department Heads, and Principal Investigators of the department Account.
    3. Account Manager: The individual who oversees the management of the Account at a higher-level than the Fiscal Officer, but rarely receives any direct requests for action from UAccess Financials. The Account Manager will ensure that the Fiscal Officer has the education and training required to perform their assigned functions. As new Fiscal Officers are appointed, the Account Manager should insert themselves into the routing via organization review to ensure the Fiscal Officer understands their responsibilities. Account Managers are the Assistant Deans of Finance or Senior/Executive Directors of Finance. The Account Manager must hold Career Level M4 or M5.
  4. Account Reconciliation: The process of comparing the transactions initiated for the Account to the transactions that are posted to the Account. This process verifies the balance of the Account and identifies any errors that must be resolved.
  5. Attributes: Non-dollar, descriptive data attached to the Account. These Attributes often determine how the Account can be used in a transaction and are used to identify financial information for reporting purposes or drive specific processes.
  6. Functional Expense Classification: A method of grouping expenses according to the purpose for which the costs are incurred. The classifications tell why an expense was incurred rather than what was purchased. Reporting expenses by functional classification helps donors, granting agencies, creditors, and other readers of the financial statements to understand the various mission-related activities of the institution and their relative importance. The University follows the NACUBO Functional Expense Definitions.
  7. National Association of College and University Business Officers (NACUBO): A membership organization that represents college and university professionals and other stakeholders who work in higher education business and finance.  NACUBO publishes the Financial Accounting and Reporting Manual for Higher Education, guidelines, and advisory reports to assist business officers and their auditors with complex and changing financial accounting requirements specific to higher education.

Policy

  1. Departments are responsible for initiating and maintaining Accounts to record accurate, timely, and complete information on the financial transactions of the University.
  2. Accounts will be established as required by budgetary and accounting purposes for proper management of the University and closed when no longer required.
  3. Individuals assigned to an Account Role must meet the required position criteria, unless an approved exception is in place, and must comply with the responsibilities outlined in this policy and in the Account Roles guidance.
  4. To maintain appropriate oversight and segregation of duties, the Fiscal Officer, Account Supervisor, and Account Manager roles must be assigned to separate individuals. A single individual may not serve in more than one of these roles for the same Account, unless an approved exception is in place.
  5. Account Roles must be reviewed by departments and updated any time there is a change in departmental personnel.
  6. Finance and Budget has final review of the creation, modification, and closure of all Accounts within UAccess Financials.
  7. Sponsored Projects Services (SPS) has authority to establish, maintain and close Accounts for grants and contracts and indirect cost accounts.
  8. The Fiscal Officer or Account Delegate is responsible for ensuring transactions are posted to an Account are:
    1. Consistent with the purpose and Functional Expense Classification of the Account,
    2. Properly classified to the appropriate Object Code,
    3. Authorized in accordance with University policies, State and Federal laws and regulations, and specific sponsor or donor requirements or restrictions,
    4. Within the available funding for the Account or supported by an approved backstop account with sufficient funding for the disbursement, and
    5. Entered on a timely basis in accordance with University policies.
  9. The Fiscal Officer is responsible for:
    1. Account Reconciliation within 30 days of the accounting month-end close,
    2. Taking immediate action to resolve errors or discrepancies noted during the Account Reconciliation or otherwise, and to follow-up to ensure that errors are corrected,
    3. Keeping Accounts updated for changes in Account Delegates and other Account information,
    4. Attaching or maintaining copies of supporting documentation for all activity processed for the Account for at least the minimum time periods specified in the Records Retention Policy, and
    5. Responding to requests related to an internal or external audit or review of the Account and related transaction records. See policy FPM 3.1 Audit Management.

Procedures

Opening a New Account

  1. To open a new account, use the UAccess Financials Account eDoc. Refer to Accounts - Opening, Updating, and Closing for detailed information.
  2. Additional information on opening Accounts can be requested as follows, based on the type of Account:
    1. Grant and Contract Accounts: Contact Sponsored Projects Services
    2. Gifts: Prepare a Gift Report and forward to Central Gifts
    3. Allocated Administrative Service Charge, Retained Fee, Differential Tuition, or Program Fee Accounts : Contact the Office of Budget and Planning
    4. Student Loan Accounts: Contact Financial Aid Accounting
    5. Endowment Accounts: Contact Endowment Accounting
    6. State, Designated, Auxiliary or Agency Accounts: Contact the Fund Accountant assigned to your department.
    7. If the primary source of revenue for this account is the sale of goods or services to other University departments, then the account may need to comply with FPM 9.1 Service Center Policy: Contact Rate Studies
  3. When completing the new Account eDoc, make sure to include information on the purpose of the Account, how it will be funded, and any expenditure guidelines. Providing detailed information on the Account eDoc will expedite the review and approval process.
  4. New Account requests will be reviewed by the UAccess Financials Chart Manager, Accounting Services, and the Office of Budget and Planning. The requesting department will be contacted if additional information is needed.
  5. Document initiators will be notified if their eDoc was disapproved and why.

Modifying an Existing Account

  1. To modify an individual existing Account, use the UAccess Financials Account eDoc. To modify the same Attributes on multiple Accounts, use the UAccess Financials Account Global eDoc.
  2. Very few Attributes can be changed on an existing Account. In most cases, the Account initiator will be requested to create a new Account and transfer remaining funding to the new Account.
  3. Attributes that can be changed:
    1. Account Roles:
      1. Fiscal Officer
      2. Account Manager
      3. Account Supervisor
    2. Account Address
    3. Expiration Date (cannot be backdated)
    4. Continuation Account
    5. Account Expense Guideline Text Box (with Fund Accountant approval)
    6. Account Income Guideline Text Box (with Fund Accountant approval)
  4. Any other changes should be directed to FNSV-ChartManager@arizona.edu.
  5. Document initiators will be notified if their eDoc was disapproved and why.
  6. Finance and Budget may periodically review Accounts. Departments will be contacted to discuss proposed changes.

Requesting an exception to Account Role Requirements

  1. If a department or unit is unable to meet the Account Manager Career Level M4 or M5 requirement or the role separation requirements, the unit may request an exception by emailing Garth Perry at perryg@arizona.edu.
  2. The request should include:
    1. The unit name,
    2. The Account number(s) affected,
    3. The proposed individuals to be assigned,
    4. The reason for which the exception is being requested, and 
    5. Any proposed compensating controls to mitigate the risk associated with the exception.
  3. Approved exceptions may be subject to conditions or additional compensating controls as determined by Finance & Budget.

Closing an Account

  1. To close an Account, use the UAccess Financials Account eDoc. Refer to How to Close an Account for detailed instructions.
  2. Close an Account when the original purpose for the Account no longer exists and all reporting and administrative requirements are fulfilled. Examples include a discontinued program or completed grants.
  3. Accounts must have no assets, liabilities, or fund balance.
  4. Accounts must have no outstanding encumbrances.
  5. Budgeted Accounts must have all temporary and permanent budget removed.
  6. UAccess Financials will not allow an Account to close if the balance requirements have not been met.
  7. After June 30, Accounts cannot be closed until beginning balances have rolled into the new fiscal year. Refer to Year-end Information.
  8. Document initiators will be notified if their eDoc was disapproved and why.
  9. Finance and Budget may periodically review Accounts for possible closure. Departments will be contacted to discuss proposed Account closures.

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