Financial Reporting
General Accounting provides accounting services to accurately classify, summarize, and report timely information to the campus community and University management. General Accounting is responsible for the General Ledger, financial reporting, chart of accounts, and fiscal close. The campus uses UCLA’s Financial System.
Maintenance of Chart of Accounts
- Campus Fiscal Close & Audit Coordination
- Preparation of Campus Financial Statements & schedules
- Reconciliation of various Balance Sheet Accounts
- Financial intercampus transaction processing
- Full Accounting Unit (FAU), Non Payroll Expenditure Adjustment Request (NonPEAR) trainings
Plant Accounting
Plant Accounting maintains the financial reporting for construction funds that are used for construction, renovation, and acquisition of long-lived assets, such as equipment, real estate, buildings, and infrastructure.
- Provide construction expense processing in Purchasing system and payment of Payment Application invoices. Process stop notices, withholding, and retention releases on Construction Agreements.
- Monitors capital projects, transfers costs from construction in progress to buildings, structures, infrastructure, general improvements, and closes completed capital projects.
- Records depreciation.
- Prepares loan draws for capital projects and processes debt service payments.
- Capitalizes equipment, library, software, all other capital assets, and eliminates capital expenditures from current for fiscal year end.
Gift & Endowment Accounting
Gifts and endowments provide financial support for various University-related programs, including faculty research and teaching activities, student scholarships, and capital improvements. Gift and Endowment Accounting is responsible for accounting services and financial reporting related to UC Merced Regents and Foundation gifts, endowments, and endowment income.
- Manage accounting and reporting for all gifts to the University and Foundation.
- Work with Develop and Alumni Relations and campus departments to ensure proper allocation of gifts.
- Distribute endowment payout to campus units.
- Request fund numbers for new gifts and links to departmental accounts.
- Maintains UC Merced Foundation Books and Assists with Foundation Audit
Recharge
Recharge is the cost charged to a University department for specific goods or services provided by another University department. Recharge units provide specific, ongoing services to campus departments and recover the cost of providing these services on a rate basis. Recharge Accounting provides accounting services for internal costs charged to another University department once the Recharge Unit has received approval.
- Audit recharges for compliance with all applicable university policies and government regulations.
- Maintains set up and access for recharge units in the On-line Recharge System.
- Maintain BOX folder for retention of On-line Recharge backup documents.
- Process interdepartmental allocations for Postage, Copier, and Phone charges.
- Provide reporting on Recharge activity as needed.
Policy & Guidelines
Plant
- Fabrications - Quick Guide
Recharge
Forms
- Form to request an account, fund, or link
Chart of Account Set-up - The IOC for allows Intercampus charge reimbursement by another campus. Campuses can recharge another campus for services. The department completes the form specifying the chart string for the other campus and a contact at the other campus.
IOC Form